New joint venture to draw in foreign investors to Bahrain

Updated 22 October 2018
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New joint venture to draw in foreign investors to Bahrain

Kooheji Golden Gate has partnered with Indian property developers Ajmera Mayfair to form a joint venture called Golden Gate Developers, promising a blend of state-of-the-art living, modern hospitality and world-class business centers. 

Ajmera Mayfair Realty Group have a combined experience of over 100 years in the real estate industry, delivering a total of 40 million square feet of commercial and residential spaces in India and currently having prospects worth more than $4 billion underway. The project is to be developed on Bahrain Bay, which is a hub of prime property in Manama with a beautiful view of the city skyline.

Manoj Ajmera, managing director of Ajmera, said: “Bahrain provides a supportive business environment and a workforce with a strong service ethos, and this project has strengthened our ties with the nation as well as the people of Bahrain.”

Nayan Shah, chairman of Mayfair Housing, said: “According to the Expat Insider Survey findings, Bahrain is now considered the best destination for expats, which broadens the scope for them to consider moving to Bahrain. This is especially an important factor in attracting foreign investment, and trade and business opportunities. It also increases the potential for tourism in the region, as many Indians now consider Bahrain an ideal destination for weddings and holidays.” 

Chairman of Kooheji Golden Gate Ishaq Al-Kooheji said: “Under the leadership and visionary guidance of His Royal Highness Prince Salman bin Hamad Al-Khalifa, the crown prince, deputy supreme commander and first deputy prime minister, Vision 2030 promises further transformation to Bahrain and its economy. The establishment of such projects in partnership with internationally renowned companies creates an attractive environment for local and international investments, strengthening ties between both countries while contributing to the economic progression of Bahrain.” 

The project will be developed over 140,000 square meters. The total anticipated foreign investment in Bahrain is around $212 million. This partnership aims at further cementing bilateral trade and economic ties between India and Bahrain and opens up the doors to more foreign investment into the country. 

 

 

 


Huawei honored for CSR initiatives

King Salman with Charles Yang, president of Huawei Middle East.
Updated 18 November 2018
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Huawei honored for CSR initiatives

Huawei, a global provider of ICT infrastructure and smart devices, has won first prize of the King Khalid Responsible Competitiveness Award. This announcement was made during the annual awards gala, which took place on Nov. 12 at Al-Faisaliah Hotel in Riyadh. During the event, King Salman recognized Huawei for its excellent sustainability practices and responsible competitiveness leadership, as well as its management capabilities and innovative social and environmental initiatives. 

Launched in 2008, the King Khalid Responsible Competitiveness Award is the first and only award focused on responsible competitiveness and corporate social responsibility (CSR) in the Kingdom, and Huawei is the first ICT company to win first place in the award’s history. 

As digital transformation sweeps across the globe, ICT technologies like artificial intelligence (AI), Internet of Things (IoT), 5G, cloud computing and
more will unlock new values of growth and innovation and uplift societies and organizations to great heights of prosperity. 

The award recognized Huawei for its transformative impact in driving forward the Kingdom’s ICT sector as a whole in line with the government’s digitization goals, the National Transformation Program and Vision 2030. In particular, Huawei was celebrated for deploying their most advanced technologies, high-quality products and secured networks in the Kingdom.

Charles Yang, president of Huawei Middle East, said: “We are deeply humbled to receive such recognition from Saudi Arabia’s leadership. In the Kingdom, Huawei is determined to bring digital to every person, home and organization for a fully connected, intelligent world. The improvement is endless on the road to providing customers with high-quality products and services. Today’s award is a milestone for us to continue to surpass ourselves. We will continue to play an active role in driving Saudi Arabia’s ICT sector development and grow together with our local partners, openly collaborating to build an ever deeper pool of ICT talent empowered to enable digital transformation.”