5 November 2006

RealLands starts its operation with investments worth US$20.million.

Mohammed Al-Tawash Chairman of Real Lands

Real Lands the newly established real estate firm, established by RealCAPITA has nominated its Board of Directors members. The first meeting conducted last week was attended by all the newly assigned members named as Omar bin Ali Babtain, Fathi Faraj Al-Mohammed, Qais Al-Maskati and Mohammed Al-Tawash. Within the first meeting it was decided that RealLands inaugurates its operation which has currently covered investments worth US$20 million and a total purchased land of 500 thousand square feet. The lands purchased were of important and strategic locations such as all facing a definite prospect of high demand and price escalation. Locations of the RealLands first purchased lands are Busaiteen which lies by the main roads of that area, Um Al-Hassam the highly prestigious residential choice especially for it’s closeness to the main business areas in the Kingdom and finally Ras Zuwaid, the area expected to rise both in industry and logistically for its location by the newly established Bahraini Qatari causeway. With it’s unique characteristics of having a direct access to the sea front.

Real Lands was instituted by RealCAPITA with strategic partnership with both Al-Khuzama Investments and Injaz MENA. RealCAPITA is the alternatively new real estate developer (established in March of this year) with a paid up capital of US$54 million and an authorized capital of US$200 million which makes it one of the biggest institutions of its kind in Bahrain. And with its recent invasion in the market RealCAPITA has already taken giant steps with big projects in its record such as Amwaj Gateway, Real Maroc the housing development project in Morocco, Real Suites in Um Al-Hassam, Real Gardens luxurious compound in Jassrah and the Wind Tower offices in the Diplomatic Area.

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