Wed, 06 December 2023
Al Arayedh Group Holding (AAGH), one of the Kingdom’s oldest and most iconic family-owned businesses, extends its best wishes to His Majesty King Hamad and the rest of the Royal Family on the occasion of Bahrain’s 52nd National Day.
It has been another highly successful year for AAGH, which is known for its innovative efforts across generations that have made a significant impact on Bahrain’s business development. Not only that, but the group has expanded its core business real estate to great success.
Nasser Al Arayedh, Chairman of AAGH, believes that the group is in a stronger position than ever. “In 2023 we have been able to improve and recover losses from previous years and we were able to achieve higher earnings compared to the previous year’s hit by the pandemic,” he explains.
He attributes a lot of this success to Bahrain’s renowned business-friendly nature. Mr. Al Arayedh says: “The opportunities in Bahrain and the wider region are plenty. I believe that Bahraini companies need to take advantage of the opportunities provided in the region because there has never been a time to be more proactive. It is the time to be innovative and forward thinking, as the growth of activities and the presence of international firms shows the potential which exists in the region.
“Bahraini companies are at even more of an advantage thanks to the leadership headed by HE King Hamad bin Isa Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister. They have provided the full support for the private sector in order to become the main engine for the economy. We are extremely thankful to them, and thus I extend my most heartfelt wishes on behalf of the entire group on the occasion of National Day.”
AAGH’s main segment looking forward into 2024 is in real estate investment, which is not surprising considering the scope of property expansion currently happening in Bahrain and the number of lucrative opportunities available. Mr. Al Arayedh is confident that 2024 will bring even more success to the company and that it is fully focused on achieving its goals.
“We have projects relating to retail and housing which are in the pipeline and once we receive building permits, we will start construction hopefully by the end of next year,” he explains.
“We are extremely positive about 2024 as we see the global economy improving with controlled inflation and we have expectations of lower interest rates which should help to stimulate the economy in Bahrain and increase the activity as the cost of borrowing will decrease.
“However, it is not only next year which we are excited about. Over the coming three to five yea§rs we are increasing our investments in real estate, especially projects which will cater to people who are coming to Bahrain. At the same time, we are looking into increasing regional and international investments which will seek good returns for the group.
“We believe that investment both within Bahrain and offshore is a positive step for us. We ensure that we look for opportunities to generate income when they arise, and sometimes they come in the wider region. The ultimate objective is to sustain growth of the group and diversify our sources of income.”