Omniyat Properties ties up with Bahrain Investment firm

UAE based Omniyat Properties, has signed a strategic partnership with Bahrain-headquartered Investate, the first of its kind in the Middle East to focus on investing in the region's booming real estate sector and beyond.

UAE based Omniyat Properties, has signed a strategic partnership with Bahrain-headquartered Investate, the first of its kind in the Middle East to focus on investing in the region's booming real estate sector and beyond.

Under the agreement, Omniyat Properties will act as managing developer for all Investate projects.

The agreement came within 24 hours of Investate's launch in the Bahrain capital of Manama following the company's first shareholders meeting. Investate was launched with a paid-up capital of US $108 million (AED397 million), an authorised capital of $500 million, and a shareholder base that includes the 'who's who' of the region's business community.

Investate's shareholders include: Omniyat Holdings (Dubai), Almasa Holdings (Dubai), Kuwait Investment Company (Kuwait), The First Investor (Qatar), Al Rashed Group (Saudi Arabia) and Al Hokair Group (Saudi Arabia) to mention a few from a wider shareholder base.

"We believe the time is ripe for a company such as Investate to enter the market," said Mehdi Amjad, president and CEO of Omniyat Holdings.

"We have succeeded in creating a synergy second to none by integrating the industry's leading experts into a well conceived and planned enterprise. Investate blends together the financial acumen of a strong Board of Directors, the proficiency of a workforce rich in property finance experience and the innovation of our prominent partners."

Most popular

Awards

CW Oman Awards 2020: Meet the winners
A round of the thirteen winning names at the Construction Week Oman Awards 2020 that

Conferences

Leaders UAE 2020: Building a sustainable, 'resilient' infra
AESG’s Phillipa Grant, Burohappold’s Farah Naz, and Samana's Imran Farooq on a sustainable built environment
CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this

Latest Issue

Construction Week - Issue 767
Sep 01, 2020