By: Ramy Sameeh
Abu Dhabi – Mubasher: Bahrain Mumtalakat Holding Company plans to significantly expand in the health sector outside Bahrain, according to CEO Mahmood Al Kooheji.
The company is also focusing on other sectors like the industrial one, Al Kooheji noted.
Mumtalakat, the investment arm of the Bahrain government, recently announced investments in a variety of sectors, namely the sectors of health sector in Italy, renewable energy in Britain and real estate in US.
The Bahrain-based company has many real estate projects in its home country, with plans to expand further in this sector, he revealed.
The real estate developer started the construction works of two hotels, the first of which is being established in cooperation with the UAE’s Jumeirah, with investments worth BHD 60-70 million ($159 million to $185.66 million). The second, with around the same value of investments, is being executed in collaboration with Fairmont Bahrain, the CEO told Mubasher.
Mumtalakat finances all its projects through its revenues and bank loans, without resorting to the bond market, Al Kooheji noted.
The Bahraini government’s projects are ongoing despite lower oil prices, the CEO said, adding that 70% of the country’s economy does not depend on oil sector.
Translated by: Julian Nabil
