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Sat 4 Feb 2017 11:12 AM

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Bahrain's Amlak awards deal to build residential project

Developer says it has awarded construction contract for The Sixty Six project to Yousif Al-Zayani Trading & Contracting Co

Bahrain's Amlak awards deal to build residential project

Amlak, the real estate investment arm of Bahrain's Social Insurance Organisation (SIO), has awarded the construction works for its upcoming residential project The Sixty Six.

The developer said it has appointed Yousif Al-Zayani Trading & Contracting Company to build the six-storey residential project, with a completion date of mid-2018 slated.

The Sixty Six will provide 66 fully furnished apartments of various sizes, ranging from one-bedroom to two and three-bedrooms, with the sixth floor consisting of three-bedroom apartments.

The project, which will also feature a swimming pool, gymnasium and multipurpose room, is located in Um Al Hassam, and is one of a number of new developments being carried out by Amlak.

“Amlak aims to fuel the growth of its portfolio through a balanced investment strategy founded on a stern governance model and investment management framework. We are confident that The Project Sixty Six will further strengthen Amlak’s assets,” said Amlak’s chairman Abdulrahman Yusuf bin Yusuf Fakhro.

Amlak’s CEO Mohammed Abdulelah Alkooheji added: “We are pleased to appoint Al Zayani Trading & Contracting Company as the project developer. The announcement of The Sixty Six project will positively impact the growth of SIO’s investments and increase Amlak’s value creation by enhancing our ability to generate profits.”

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