IslamicFinance.de

Mumtalakat, Bahrain’s sovereign wealth fund, is planning to invest heavily in the country’s real estate sector in the coming years. According to CEO Mahmood H Al Kooheji, new hotels, shopping malls and spas will be constructed to boost tourism and the the total investment in the projects will be about $500 million (Dh1.84 billion) over the next five years. The new projects are being planned despite low oil price environment in the Gulf region that has impacted the revenue of the government. On profits of the company this year, Al Kooheji said he expects to cross $100 million. The company is now looking for investments in Saudi Arabia, but also for new markets in the Far East, the US and Europe.