Bin Faqeeh, Ithmaar sign USD45m deal

(MENAFN) Bin Faqeeh Real Estate Investment Company has recently signed a USD45 million worth deal on a residential apartment project, following the sale of major plots on the landmark Dilmunia in Bahrain, according to Gulf Daily News. The project will be one of the largest projects of its kind in the region, and will extend over 125-hectare man-made island. Dilmunia is a project of master developer Ithmaar Development Company (IDC). The agreement was signed between IDC chief executive Mohammed Khalil Alsayed and Bin Faqeeh Real Estate Investment Company chairman Faisal Abdulwahid Faqeeh. Alsayed said: "Being a prominent real estate developer in Bahrain, with a large number of successful projects already built and in use, we are confident that they will fit in well among the world-class developments that Dilmunia is attracting."