Bahrain: Edamah to invest $930m in Hawar Islands
Edamah has announced plans to invest $930m in a bid to transform Bahrain’s Hawar Islands into an eco-friendly tourism destination
Bahrain Real Estate Investment (Edamah) has announced plans to invest $930m (BHD350m) into Hawar Islands.
Edamah, the real estate arm of Bahrain Mumtalakat Holding Company, has stated that the investment will be used to transform the archipelago into an eco-friendly tourism destination.
The move, which is expected to create 3,000 jobs, is intended to bolster the local and regional tourism industry.
Mahmood Hashim Alkooheji, acting chief executive officer of Edamah, said that a committee has been formed under the leadership of HE Sheikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister of Bahrain and chairman of Mumtalakat.
The Hawar Islands Planning & Development Committee will undertake specialist studies to guide the planning and execution of the development area, and establish a guide to steer future developments towards the promotion of “sustainable, architectural, environmental, and touristic foundations” for additional investment opportunities.
Edamah’s strategy for Hawar Islands comprises two strands: to renovate and further develop the existing resort, and to develop a new eco-friendly offering along 100ha of the archipelago’s northern coast.
Alkooheji stated that Hawar Islands offers solid foundations and opportunities for further developments that will boost Bahrain’s tourism industry and positively impact the local economy.