Mubasher: Beyon has signed a development agreement with Bahrain Real Estate Investment Company (Edamah), the real estate arm of Bahrain Mumtalakat Holding Company (Mumtalakat), to establish Beyon Digital City in Hamala.
The project will span 380,000 square metres in Bahrain while construction works are expected to begin in 2025, according to a press release.
The two entities penned the agreement at the Four Seasons Hotel in Bahrain on 3 November 2024, the opening day of the Gateway Gulf Investor Forum 2024 which concluded on the 4th.
Beyon named Edamah as the development manager for its signature Digital City project, which is anchored by Beyon’s strategic intent to deliver digital transformation in line with Bahrain’s national digitalisation drives.
The project aims to seamlessly integrate the facets of connectivity, technology, and real estate while establishing a new standard for mixed-use developments in Bahrain.
Moreover, the Digital City project is considered a new benchmark for the GCC region, championing innovative, sustainable, and people-centric urban living.
It is further designed to meet the requirements of cutting-edge digital lifestyles as well as international standards and frameworks for smart cities.
Beyon CEO, Andrew Kvalseth, said: “Beyon’s Digital City is more than just a project, it is a vision and benchmark for the future of urban living built upon the core tenets of Bahrain’s Vision 2030 that prioritise livability, sustainability, inclusivity and digitalisation.”
Kvalseth added: “We believe that this project will provide promising investment opportunities, especially for investors interested in sustainable growth and return on investment.”
Projects like Beyon Digital City are seen as strategic enablers of both local and foreign direct investment in addition to being a means of economic stimulus, job creation, and economic convergence across sectors.
Beyon CEO concluded: “Beyon’s Digital City development, centers around three core pillars that mirror the organization’s brand principles and identity: People, Nature, and Technology. Stemming from these are plans for the project’s prioritisation of life and livability, fostering of green spaces, and embracing innovation and digital integration.”
The digital project will include smart transportation solutions like electric and autonomous vehicles and IoT-enabled traffic systems, in addition to being integrated to optimise mobility and minimise environmental impact.
The mixed-use environment will further include Beyon’s main headquarters (HQ), as well as R&D centers, healthcare facilities, fitness and recreation centers, and educational premises. This is besides contemporary office spaces, retail and dining areas, as well as hospitality and serviced apartments. At the centre of Beyon Digital City lies 1.20-kilometre green, vehicle-free, boulevard uniting these spaces.
Edamah CEO, Christopher Calvert, said: “Our expertise in real estate development and construction will ensure that the Digital City is grounded in industry best practices while leveraging Beyon’s technological leadership to set new standards in smart, sustainable urban development.”
Calvert added: “This partnership allows for a seamless fusion of real estate and technology, ensuring the project not only meets but sets new standards in smart, sustainable urban development.”
During the two-day investment forum, another listed company, Aluminium Bahrain (Alba) unveiled its intention to form a joint venture (JV) under the name Alba-Daiki Sustainable Solutions (ADSS) in collaboration with Japan’s Daiki Aluminium Industry Company.
Gateway Gulf 2024, meanwhile, highlighted the high growth sectors like tourism, manufacturing, banking, sports, and leisure.
