Manama: Mahmood Rafique, Editor: Infracrop, with an estimated US$3 billion asset portfolio of its sustainable projects across the MENA and South Asia regions, will continue to bolster its project portfolio in 2024 and beyond.
Infracorp remains committed to delivering innovative investment products and cultivating a diverse range of sustainable infrastructure projects for investors worldwide, says Majed Al Khan, CEO of Infracorp.
Managing a robust asset portfolio valued at approximately US$3 billion, the company remains committed to development of more sustainable projects across the MENA and South Asia regions, he says, while reflecting on the robust financial gains in 2023.
Infracorp has reported a net profit of US$45.5 million for the year ended 31st December 2023, rivets its eyes on generating long-term returns and sustainable value for shareholders.
Infracorp, the CEO adds, implements an integrated business strategy to drive growth and innovation in the global market.
“Infracorp has successfully completed and sold all villas within the first and second phases of the mixed-use California Village project in Dubai. This project offers over 230 residential villas with spacious layouts and high-end designs in a prime strategic location. Additionally, the company has effectively managed the development operations of its real estate portfolio projects in Morocco, focusing on delivering a contemporary lifestyle in alignment with Infracorp’s business model and principles.”
“Infracorp has successfully completed the new ‘Pearl House’ project, situated on the eastern side of Bahrain Harbour. This project features luxury freehold apartments like the ‘Charthouse Residences,’ which began leasing as hotel apartments on the western side of Bahrain Harbour. Additionally, the ‘Harbour Views’ project, located in ‘Harbor Heights,’ has been completed.”
“An agreement to open Kempinski Hotel in the Bahrain Harbour project, will see welcoming of residents and guests by the end of 2025. Retail outlets in the Harbor Row project, attracting a high demand from tenants, and establishing it as a preferred destination for F&B outlets. The project has achieved 96% of the sales of the units, shows its attractiveness for investors. Moreover, the ‘Marina Bay’ project launched in the first quarter of 2023. This project is located on a 34,000 square meter area on Reef Island and comprises a selection of villas and luxury duplex apartments, all offering stunning sea views. The total investment for this project amounts to US$200 million.”
