COMPANY HISTORY

First Real Estate originated as a Bahraini Limited Liability Company in 2002 with an initial capital of BD 500,000, founded by two visionary real estate developers. Their objective was to establish sustainable growth and maintain a prominent reputation in the local market. Over time, the company diversified its portfolio beyond residential properties to include commercial and warehouse assets, demonstrating a commitment to innovation.

In 2005, First Real Estate underwent a transformation into a Bahraini Joint Stock Closed Company, significantly increasing its capital to BD 30 million. This strategic restructuring marked the beginning of a phase characterized by substantial growth and development. By 2007, the company raised its capital further to BD 31.8 million and evolved into a Public Holding Company, positioning itself for expanded operations and enhanced resource acquisition. Presently, First Real Estate remains dedicated to achieving excellence, maximizing asset value, and meeting shareholder expectations through strategic initiatives at both local and regional levels. 

  1. 2002
  2. 2005
  3. 2006
  4. 2007
  5. 2008
  6. 2010
  7. 2013
  8. 2015
  9. 2017
  10. 2019
  11. 2022
  1. Established as a Bahraini Limited Liability Company with a paid-up capital of BD 500,000, First Real Estate embarked on its journey to establish a foothold in the local real estate market, laying the foundation for future growth and expansion.
  2. Restructured to a Bahraini Joint Stock Closed Company with a paid-up capital of BD 30 million, First Real Estate significantly bolstered its financial base, enabling it to scale operations and pursue larger-scale development projects to meet growing market demands.
  3. Increasing its paid-up capital to BD 31.8 million marked a pivotal moment in First Real Estate's financial evolution, reinforcing its commitment to sustainable growth and enhancing its capacity to undertake ambitious real estate ventures.
  4. Transitioning to a Public Holding Company was a strategic move aimed at providing First Real Estate with increased financial resources and market credibility, facilitating its ambitious plans for further growth and development in the real estate sector.
  5. Launching the first commercial property project marked First Real Estate's diversification strategy, expanding its portfolio beyond residential offerings to capture new market segments and maximize revenue streams.
  6. Expanding into the warehouse market and completing the first major warehouse project highlighted First Real Estate's adaptability and foresight in catering to diverse market demands, solidifying its position as a versatile player in the real estate industry.
  7. Achieving record occupancy rates across all property types underscored First Real Estate's operational prowess and tenant-centric approach, reflecting its commitment to delivering high-quality real estate operations and superior customer service.
  8. Introducing a new strategic plan focusing on regional expansion demonstrated First Real Estate's forward-thinking approach and ambition to capitalize on emerging opportunities in neighboring markets, positioning itself as a regional real estate leader.
  9. Completing a significant acquisition of a commercial property portfolio was a strategic milestone for First Real Estate, enhancing its asset base and reinforcing its market position while unlocking new avenues for revenue growth and value creation.
  10. Implementing advanced property management systems was instrumental in improving operational efficiency and tenant satisfaction, underscoring First Real Estate's commitment to adopting cutting-edge technology and best practices in property management.
  11. Achieving significant operational improvements with revenues increasing to BD 4.5 million highlighted First Real Estate's relentless pursuit of excellence and profitability, driven by strategic initiatives aimed at enhancing asset value and optimizing financial performance.

EARLY YEARS

Foundations and Growth

In 2002, First Real Estate was established as a Bahraini Limited Liability Company with an initial paid-up capital of BD 500,000, founded by two prominent real estate developers. The company quickly gained traction in the market, leading to significant structural changes.

By 2005, First Real Estate transformed into a Bahraini Joint Stock Closed Company, with its paid-up capital rising to BD 30 million, reflecting its expanding influence and success. The momentum continued, and in March 2007, the paid-up capital further increased to BD 31,800,000, marking another milestone in the company’s rapid growth trajectory.

Top Floor Quality

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EVOLUTION

Expansion and Public Offering

In November 2007, the shareholders made a pivotal decision to transition First Real Estate into a Public Holding Company. This strategic move was designed to enhance the company’s resources, enabling it to become a well-capitalized entity poised for further development. This transition marked a new chapter, allowing the company to implement its ambitious plans for growth, both locally and regionally.

With an increased focus on expanding operations and leveraging new opportunities, First Real Estate committed to building a robust framework that supports sustainable growth and international reach.

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