Ibdar exits four Bahrain-based real estate investments for $21.67 mln

Ibdar Bank says it has exited from four Bahrain-based real estate investments for a total value of $21.67 million.

In a statement, Ahmed Al-Rayes, Acting CEO of the Bahrain-based wholesale Islamic investment bank said, "These exits are also in line with the Bank's strategy to pursue the sale of legacy assets in order to recycle capital and enable the Bank to further diversify its real estate portfolio across geographies."

"Currently, we see a strong pipeline of opportunities in markets including the UK, Europe and United States where we are looking to further extend our investment activities in order to strengthen our investment offering and our ability to generate strong, steady streams of income and returns for the Bank and our investors and shareholders," he continued.