Infracorp, a leading specialised company in investing in the infrastructure and sustainable development sector, announced the signing of an agreement with Takaful International Company to provide an insurance bond on escrow accounts required by the Real Estate Regulatory Authority (RERA) for the off-plan sales approvals of the flagship Marina Bay project. This step is part of the ongoing efforts to ensure the protection of investors and buyers in real estate projects, where the Respected Government continues to enhance confidence in the investment environment in the Kingdom of Bahrain.

The signing ceremony took place at Infracorp's headquarters in Bahrain Financial Harbour, attended by Mr. Majed Al Khan, Board Member and Chief Executive Officer of Infracorp, and Mr. Essam Al Ansari, Chief Executive Officer of Takaful International Co., along with executive management members from both sides.

On this occasion, Mr. Majed Al Khan, Board Member and CEO of Infracorp, stated: “We are delighted to announce the completion of all necessary approvals required for the off-plan sales of the Marina Bay project, coinciding with the launch of Cityscape Bahrain 2024. This step ensures buyers’ rights and enhances confidence in the real estate market in the Kingdom of Bahrain, while reaffirming our partnership with Takaful International and highlighting our full commitment to all applicable laws and regulations in the Kingdom. We prioritise the protection of our clients’ rights, and I would also like to express my sincere gratitude to the Real Estate Regulatory Authority (RERA) for their continuous efforts and vital role in developing the real estate sector in the Kingdom.”

For his part, Mr. Essam Al Ansari, CEO of Takaful International Co., commented: “We are delighted to partner with Infracorp, one of the largest real estate developers in the region, culminating from our joint efforts to provide innovative insurance solutions that meet the evolving needs of the market and enhance investor protection in the real estate sector. The Marina Bay project is a standout initiative that highlights Infracorp’s pioneering role in the urban development taking place in the Kingdom, and we are pleased to play a role in fulfilling all necessary requirements for the off-plan sales of this flagship project.”

This partnership between Infracorp and Takaful International Co. reflects both parties’ commitment to providing a secure and reliable investment environment, thereby enhancing the attractiveness of the real estate market in the Kingdom of Bahrain. This cooperation contributes to raising the level of confidence amongst investors and strengthens market stability.