Bahrain-based Real Estate Group Naseej Joins NewCities
Manama, Bahrain, 18 September 2012 – Naseej, Bahrain’s first fully-integrated real estate and infrastructure company, today became the latest member of the NewCities Foundation, a global platform for innovation and exchange on the future of urbanization. Naseej joins a number of leading global organizations, including GE, Ericsson, Cisco, Toyota, Orange, GDF Suez, the Ford Foundation, the Climate Group, the Urban China Initiative, New York University, and MIT’s SENSEable City Lab in working together to build smarter, more livable and more competitive future cities.
The Foundation actively engages local governments, corporations, research institutions, NGOs, entrepreneurs and creative industries to address issues linked to the future of the urban world through a series of thought leadership events and urban innovation projects in pilot cities.
The Foundation also hosts the annual NewCities Summit. The first Summit was held in Paris in May 2012 and attracted over 800 innovators and senior decision-makers across the public, private, academic and non-profit sectors. The Foundation is organizing a number of high-level regional and thematic events in 2012 and 2013.
The NewCities in house research projects are a critical differentiator for the organization. These hands-on pilot projects tackle issues such as e-health (with the city of Rio de Janeiro), commuting (with San Jose, California) and smarter regulation. These urban innovations are generated in close partnership with the host city and an ecosystem of business and research partners. The first pilots will be completed at the end of 2012.
Naseej’s vision and reputation is based on a business model driven by extensive research and attention to delivering demand-driven projects to local communities throughout the MENA region and the United Kingdom. With multi-million dollar funding available for developing targeted construction projects in key regions. The goal of the company’s projects is to deliver culturally sensitive developments based on the specific cultural demands of the local communities, which will address their immediate and future needs. Naseej is currently working on several projects within Bahrain and Morocco to build ‘value homes’ for their citizens, and will be announcing several new projects in 2013.
NewCities will work closely with Naseej to develop research and thought leadership projects dedicated to real estate development and finance which will serve as new models for cities across the world.
Welcoming Naseej as a new corporate member, Mathieu Lefevre, Former Executive Director of NewCities states: “We are really excited that such a pioneering and dedicated company as Naseej has joined the Foundation. Our membership as a whole will benefit enormously from Naseej’s experience and its innovative approach to real estate particularly in terms of providing affordable housing solutions and developing sustainable communities in Bahrain, the Middle-East and beyond.”
Mr Christopher Sims, CEO of Naseej, “NewCities fills a gap as the first high-level global platform on urbanisation, bringing together key decision-makers from the private, public, research and NGO communities. As such, Naseej will be able to gain valuable insight into new replicable solutions and best practices being adopted by other members. Membership in the foundation will also enable us to promote our projects and expertise to a unique global audience, and explore and build relations in new growth markets.”
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Naseej is the MENA region’s first fully-integrated real estate and infrastructure development company, encompassing the entire value chain from concept to completion. The Company’s core activities comprise design and master planning; development and construction; building components; mortgage facilitation; and asset management.
Headquartered in the Kingdom of Bahrain and capitalised at US$ 286 million, the Company was established by prominent private and public sector investors to act as a pioneering catalyst for addressing the region’s affordable housing development needs. Key shareholders of Naseej include Ithmaar Bank, Ithmaar Development Company, BBK, Gulf Finance House, Khaleeji Commercial Bank, Faisal Islamic Bank of Egypt, Capivest, Palm Capital, Social Insurance Organisation of the Kingdom of Bahrain, and Eskan Bank.
Demand-driven, the Company is committed to delivering value-based real estate solutions through insight and innovation; applying pragmatism when meeting new challenges; delivering real benefits to individuals and societies; and building the foundations of prosperity for future generations . . . always with vision. The logo of Naseej signifies the texture of life within the societies that the Company serves.
About the NewCities Foundation
NewCities is an international nonprofit organization dedicated to making cities more inclusive, connected, healthy and vibrant. Focusing on people, places and policies, we bring together a global network of public and private sector leaders and Urban Tech innovators to foster results-oriented collaboration. We also produce actionable research that can be implemented by decision-makers across sectors.