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FINANCIAL NEWS
Indian Ajmera to invest in Bahrain Bay
13 Mar 2014
(MENAFN) Indian real estate firm Ajmera Mayfair Realty Group plans to boost its investments in Bahrain Bay ten-fold to USD300 million, according to Arabian Business.
The Ajmera Group and Mayfair Housing have signed a joint venture to build a 50-storey commercial tower on a prime waterfront plot in the development.
Construction of the project, worth USD2.5 billion, is scheduled to be started by the end of the current year.
Rajnikant Ajmera and Nayan Shah said: “We have reaffirmed our interest in the Bahrain Bay project, a unique waterfront development that encouraged us to choose it as our first overseas investment destination.”
The development will extend over 43 hectares of reclaimed land, located in the north of the capital Manama”s central business district.
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