Thailand’s premier real estate agency Result Plus Media is set for the global launch of The Rich Nana, a luxury condominium tower coming up in Bangkok, at the Gulf Property Show 2016, the annual dedicated showcase for the global real estate and property development sector to be held from April 26 to 28 in Bahrain.

A key regional event being organised by Bahrain-based Hilal Conferences and Exhibitions (HCE), the Gulf Property Show will be held under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, Prime Minister of the Kingdom of Bahrain, at the Bahrain International Exhibition and Convention Centre.

Result Plus Media represents Thailand’s leading developers, promoting their luxurious properties around the world.

The agency has established a reputation in South East Asia for dedicating itself to ensuring that investors obtain high returns from their investments.

Unveiling its big plans, Nisha Chulasukontha, the managing director of Result Plus Media, said: “Gulf Property Show has achieved a reputation as being the boutique real estate trading event for the Gulf. This reputation is the reason we are using our participation to launch Bangkok’s luxury development, The Rich Nana.”

The Rich Nana, situated in the heart of Bangkok, is a 32-storey residential tower resonating modern luxury and elegance. The development comprises a total of 413 units including 36 commercial units which will provide residents with high-class restaurants, a spa and shopping outlets.

The tower offers residents the experience of being in the city with panoramic views across Bangkok, but with a Feng Shui positivity. The development is surrounded by nature through landscaped gardens.

On the global launch, Jubran Abdulrahman, the managing director of HCE, said: “GCC citizens are no strangers to real estate investments in South East Asia. Demand is growing for properties in South East Asia not only from GCC investors but also from expats who are looking for properties back home or European expats looking at alternative retirement option.”

“The Rich Nana tower will be a welcome addition to the portfolio of real estates on offer at the Gulf Property Show,” stated Abdulrahman.

Gulf Property Show is sponsored by Manara Developments and Diyar Al Muharraq and is supported by Bapda (Bahrain Property Developers Association)

The event runs alongside HCE’s other major exhibitions – gulfBID and gulfInteriors – ensuring the continued success of the biggest integrated business-to-business platform for the construction, interiors and property in the Northern Gulf.-TradeArabia News Service

Source: Tradearabia.com

Seef, a leading integrated development company in Bahrain, has registered a 9.7 per cent growth in its operating profit which soared to BD12.69 million ($33.4 million) in 2015 from the previous year’s BD11.56 million ($30.4 million).

The consolidated net profit after considering the valuation gain was BD9.84 million compared to BD10.82 million the previous year, said senior officials at the company’s annual general meeting held on Wednesday.

Speaking at the meeting, Seef vice chairman Sager Shaheen said: “We are currently in the final stages of evaluating a number of investment opportunities and we aim to announce the commencement of the projects during 2016.”

“Overall, we are happy to report yet another profitable year. Revenues across all segments have increased during the year which resulted in an increase in the overall operating profit,” Shaheen told the shareholders.

He pointed out that the group had been able to transform Seef quite dramatically since its inception.
“Today we have a much stronger brand, a more diversified portfolio and have increased the total gross lettable area. Overall, this has resulted in a much stronger capital base with a higher level and quality of earnings,” stated Shaheen.

“As witnessed by the company’s overall record result, 2015 was a year which proved that through the consistent hard work we can continue to reach new heights. The industry has now come to recognise the Seef brand as a market leader,” he added.

Impressed by the results, Seef has endorsed the recommendation of its board for distribution of cash dividends worth BD5.52 million ($14.5 million) to the shareholders.

On the group’s long-term strategy, Shaheen said: “We will focus on growth by expanding and diversifying our portfolio to leverage our competitive strengths and maximise economies of scale. Despite the challenges and economic outlook, we are continuously looking for valuable investment opportunities.”

“This stems from our belief that during challenges opportunities arise,” he added.-TradeArabia News Service

Source: Tradearabia.com

Bahrain had issued 95 tenders worth BD363 million ($956 million) last year to build hundreds of residential units in the kingdom as part of the government’s housing plan, said a report.

The number of projects funded by the general state budget had increased by six per cent in 2015 over the previous year, reported the BNA citing the Minister of Housing Bassem Al Hamer.

A total of 51 tenders worth BD168 million ($442 million) have already been awarded, stated the minister at the Cabinet session on Monday which reviewed steps taken as part of the government’s housing action plan.

The other projects, funded by the GCC Development Programme, have also been put out to tender, stated the minister.

These include the first phase of the 1,580-unit Southern Governorate project; the second phase of the 577-unit Northern City project; the 389-unit Hidd project and the 746-unit Phase Two of the Sitra project, he added.

The minister’s report also highlighted the social and economic housing projects implemented by public and private sector partnerships in the kingdom.

These include 1,618 social housing units and 368 economic housing units in the Northern Town, besides the 832 social housing units in Al Lawzi region worth BD162 million ($427 million), which are 25 per cent complete, the report added.

Source: Tradearabia.com