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FINANCIAL NEWS
Ajmera Mayfair to invest $206m in Bahrain project
18 Oct 2010
(MENAFN) Mumbai-based Ajmera Mayfair consortium has announced plans to invest $206.3 million over a three-year period in the Bahrain Bay Development, Gulf Daily News reported.
The Indian group is the latest to sign on as third party developer at the $2.5 billion development, located off the coast of Manama.
It will build a twin-tower apartment block with approximately 200 luxury units, with construction beginning towards the third quarter of next year and completed by the end of 2013, said Ajmera Group of Companies director Manoj Ajmera.
During a presentation at the Bahrain Bay offices, he said the company had thought long and hard before making the move to Bahrain, its first outside India.
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