Manara Developments Co.

Bahrain Bay Development is a master-planned waterfront real estate developer and operator based in Manama, Bahrain, focusing on land development and construction of hospitality, residential, and commercial assets. It acts as a Developer-Investor with a flexible Shariah compliance stance due to its origins with Arcapita, an Islamic asset management firm. No typical cheque size or assets under management figures are available. The project was valued at around US$2.5 billion in 2011, and recent data indicate ongoing active development solely within Bahrain. This profile informs potential capital partners of the company's operator role and development focus within Bahrain, with moderate Shariah considerations.

Manazil Real Estate, founded in 1975, is a Sharjah-based diversified property group and leading developer in the UAE. It operates as a Developer-Investor focusing on housing, apartments, commercial, retail, industrial properties, and hospitality sectors across the UAE and plans expansion into Abu Dhabi and other GCC regions. The company's assets under management are approximately $1.43 billion USD as of December 31, 2024. Their partnership with Bahrain Islamic Bank indicates a flexible approach to Shariah compliance.

Land, Construction

Edamah operates as the real estate arm of Bahrain's sovereign wealth fund, functioning as a Developer-Investor with an Allocator-Operator role. It focuses on hospitality and logistics asset classes within Bahrain and typically invests cheque sizes ranging from 7 to 13.26 million USD. Its development appetite includes land acquisition and construction projects. No clear assets under management band was identified. Edamah maintains a flexible Shariah stance, evidenced by its involvement with Islamic financial partners. This profile is built from recently sourced information from edamah.com and the company's LinkedIn page.

Al Areen Holding Company, headquartered in Bahrain, is a Developer-Investor with active projects in hospitality, commercial, and residential real estate. Operating as an Allocator-Operator, the company focuses on land acquisition and construction phases within Bahrain. While it partners with Islamic finance institutions, there is no explicit Shariah mandate. Typical investment cheque sizes and assets under management are not publicly disclosed. Information is primarily from recent website and LinkedIn details, with some data on affiliated entities dating back to 2021.

Abaad Real Estate is a Developer-Investor and operator wholly owned by Bahrain Islamic Bank, focused on hospitality and real estate assets in the MENA region. They engage in asset creation, acquisition, and construction with a strong Shariah compliance mandate. While explicit recent details on typical cheque size and AUM are unavailable, the parent group holds real estate investments around $39 million as of 2023, and the company's paid-up capital is approximately $67 million USD from 2008, indicating established financial backing. This profile suggests a Shariah-compliant, regionally focused developer-investor with a role in direct operations.