Investors on Tuesday announced the first private sector bank, specialising in financing construction projects, in Bahrain. According to GDN, the Real Estate Finance Company (REEF), which will have a focus on residential projects, is a joint business between Bahrain-based Al Khaleej Development Company (Tameer), Kuwait-based Global Investment House and Bahrain-based Ossis.
The new bank will provide funds to both investors in the sector and individuals looking to buy homes. It will have a $40 million authorised capital, with $20 million paid up.
