Is investing in real estate worth it in Bahrain?

One investment at Kazerooni Heights can go a long way.
In today’s uncertain economic times, investors are looking for something they can rely on to add value to their portfolios. Real estate is known to be one of the most reliable long-term investments and apartments are a good option to consider:

Kazerooni Heights offers two investment options for those looking to diversify their portfolio by investing in real estate:

Investment plan with guaranteed 6% net return for 3 years
5-year (interest free) payment plan with 10% down payment
Bahrain ranked first for economic freedom and fourth for financial, investment, and trade freedom in the MENA region, according to the 2022 Index of Economic Freedom published by the Heritage Foundation.

According to the report, overall investment framework in Bahrain remains transparent and investors (foreign or domestic) are treated equally. According to the Economic Development Board (EDB) Bahrain, the Kingdom’s real estate transactions jumped 46% in 2021. As demands surge, residential, retail, and tourism properties would present plenty of investment opportunities.

Why Kazerooni apartments?

Their amenities include a rooftop temperature-controlled pool, BBQ facility with dining room at the pool deck, state-of-the-art gym, steam and sauna facilities, and more. Located in Amwaj Islands, the property is in close proximity to The Lagoon, which offers indoor and outdoor cafes and restaurants, retail stores, and entertainment.

Here are the available units at Kazerooni Heights:

1 Bedroom (starting at 87sqm)
2 Bedroom (starting at 128sqm)
2 Bedroom + Maid’s Room (starting at 164sqm)
3 Bedroom + Maid’s Room (starting at 251sqm)
3 Bedroom Duplex + Maid’s Room (starting at 247sqm)
In addition to the investment opportunities, there are also a limited number of apartments available for rent that come with a complimentary membership at Vida Beach Resort Marassi Al Bahrain starting from BD 425 (1-Bedroom).

Source:https://www.gulf-insider.com/is-investing-in-real-estate-worth-it-in-bahrain/

As TRSDC advances construction, focus shifts to employees’ physical, mental wellbeing

scion Industrial engineering

The Red Sea Development Co. is marching ahead with its construction plans as it aims to have its first hotels this year at the site.

For this, thousands of workers and staff are mobilizing to the destination, and TRSDC is making sure they are all safe and well.

As the UN marks the World Health Day on April 7, TRSDC reiterated its commitment to focus on the wellbeing of its employees.

TRSDC’s efforts to protect its staff against COVID-19 were spearheaded by head of health and safety Brian Spraker while Julie Parisien, the senior portfolio strategy director, handled the strategy to operate new hospitals in the Red Sea area. Spraker stressed that safe practices are central to the business philosophy at TRSDC, where the physical and mental wellbeing of employees is of paramount importance.

The TRSDC has been incorporated as a closed joint stock company, wholly owned by Saudi Arabia’s Public Investment Fund.

The company has been established to develop and promote a new international luxury tourism destination that will set new standards for sustainable development and bring about the next generation of luxury travel.

The project was announced in July 2017 and is one of the three giga projects aimed at diversifying the Saudi economy in keeping with the Kingdom’s Vision 2030.

TRSDC officials, who are fully aware of the threat posed by COVID-19 to its workforce, have made significant progress on the ground to keep this pandemic at bay.

More than 15,000 workers are now onsite, and the company has awarded over 800 contracts to date, worth over SR20 billion ($5.3 billion).

“We have been able to maintain our workforce onsite safely, which has allowed construction to remain on target. To ensure that everyone had enough space to social distance, we moved a proportion of workers to temporary accommodation outside of our construction village, including four local schools,” Spraker said.

A phased approach was used when mobilizing staff back to the office after the mandatory shutdown was lifted.

TRSDC not only implemented mass PCR screening on site during the initial stages of the pandemic but it also implemented a robust training and communication process to educate its staff, including two companywide webinars hosted by International SOS. Nearly all the 16,000 workers on the sites were fully vaccinated as part of the protection program launched by the company.

For her part, Parisien gave details about the contracts awarded to Steward alf Global Health Co. to operate a major hospital in the area.

“TRSDC awarded the operations contract for a major new hospital to the Steward alf Global Healthcare Co., a joint venture between Alf Healthcare, the healthcare arm of Saudi-based Alfanar, a renowned developer and operator of large-scale public-private-partnership projects, and leading international healthcare provider Steward Health Care International,” Parisien said.

She added: “Steward alf Global Healthcare Co. combines the local experience of Alfanar with international best practice from Steward Health Care International, guaranteeing the very best of medical care is provided.”

The hospital will offer primary and secondary care to the community of 14,000 people working on site and later to visitors of the Red Sea, including emergency care, family medicine, radiology, clinical support, women’s health, and pharmacy services. The intention is to develop a highly efficient and patient-centric hospital, according to the company.

“A hyperbaric chamber will also be operated as an integrated part of the facility’s Emergency Department, enabling world-class primary treatment for diving accidents, such as decompression sickness,” Parisien said.

The hospital will employ around 300 to 400 employees. “The development maximizes employment opportunities for local Saudi nationals, as part of TRSDC’s broader alignment with the Kingdom’s Vision 2030. With a mandate to develop local talent, Steward alf Global Healthcare Co. will provide continuous professional development, telemedicine and community education for local Saudi residents,” Parisien indicated.

Source:https://www.arabnews.com/taxonomy/term/420556