NEW investment opportunities for heritage properties in Muharraq have been launched to encourage sustainable investment that supports the preservation of its architectural heritage through active private sector participation, revitalise historic districts and contribute to long-term economic development.
The initiative was launched yesterday by Eskan Bank, in co-ordination with the Housing and Urban Planning Ministry and the Bahrain Authority for Culture and Antiquities (Baca).
The initiative is in implementation of the royal directive of His Majesty King Hamad to preserve the kingdom’s historical and cultural identity, restore Isa Al Kabeer Palace and develop Muharraq while safeguarding its historical and cultural character, and under the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to activate the executive plan for the Muharraq City Development.
The investment programme focuses on a portfolio of heritage properties located within the Muharraq City Development and along with the Unesco World Heritage-listed Pearling Path.
The selected properties have been identified for adaptive reuse across a range of carefully considered functions that complement their historic character, including boutique hospitality projects, cultural and creative spaces, artisan retail outlets, cafés and restaurants, co-working spaces and community-focused initiatives.
Collectively, these developments aim to revitalise the historic neighbourhood, preserve its authentic architectural identity and stimulate sustainable economic activity.
Housing and Urban Planning Minister and Eskan Bank chairperson Amna Al Romaihi said: “Eskan Bank has developed these investment opportunities in line with Environmental, Social and Governance (ESG) principles, enabling investors to participate in projects that generate sustainable economic value while contributing to the preservation of Bahrain’s cultural heritage, supporting community development and advancing sustainable urban regeneration.”
She added: “Making these heritage properties available for responsible private sector investment will contribute to preserving Bahrain’s architectural and cultural identity, revitalising historic neighbourhoods and creating vibrant destinations that strengthen community engagement while supporting economic growth.”
Eskan Bank general manager Abdulla Taleb said: “Built on ESG principles, these investment opportunities enable investors to contribute to projects that deliver commercial value alongside lasting social impact, while preserving Bahrain’s architectural and cultural identity, strengthening the kingdom’s cultural and tourism sectors, and creating facilities that serve the local community.
“We look forward to collaborating with investors who share our vision of preserving Bahrain’s heritage while advancing sustainable urban development.”
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