In collaboration with Bahrain Real Estate Investment Company (Edamah), the real estate division of Bahrain sovereign wealth fund Mumtalakat Holding Company, the country’s top telecom and technology company, Beyon, (November 3) announced plans to begin construction on its ambitious 380,000 square meter Digital City project in Hamala.
On the first day of the Gateway Gulf Investor Forum 2024, which was held at the Four Seasons Hotel in Bahrain, the two signed an agreement.
By signing the agreement, Beyon designated Edamah as the development manager for its signature project, which is anticipated to start construction in 2025.
Andrew Kvalseth, the CEO of Beyon, Christopher Calvert, the CEO of Edamah, and Shaikh Abdulla bin Khalifa Al Khalifa, the CEO of Mumtalakat and Chairman of Beyon and Edamah, were all in attendance at the signing ceremony.
Beyon revealed the project and stated that its Digital City is based on the company’s strategic goal of delivering digital transformation that closely aligns with Bahrain’s national digitalization initiatives.
The project’s seamless integration of connectivity, technology, and real estate will set a new benchmark for mixed-use developments in Bahrain and satisfy the demands of both global smart city frameworks and standards as well as sophisticated digital lifestyles.
Furthermore, it said that initiatives like these have demonstrated themselves to be strategic facilitators of both domestic and foreign direct investment as well as a way to boost the economy, create jobs, and promote economic convergence across industries.
On the new venture, 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 prioritize livability, sustainability, inclusivity and digitalization.”
“We ourselves hold these values at the core of our business in Beyon, and believe in supporting this vision, and Bahrain’s position as a symbol of a modern, connected nation. We believe that this project will provide promising investment opportunities, especially for investors interested in sustainable growth and return on investment,” he added.
Kvalseth further explained the main elements of the Digital City, “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 prioritization of life and livability, fostering of green spaces, and embracing innovation and digital integration.
Beyon’s main headquarters, R&D centers, medical facilities, fitness and recreation centers, and educational facilities will all be part of the dynamic mixed-use environment.
Modern office buildings, dining and shopping areas, hospitality spaces, and serviced apartments will also be present.
A 1.2 km green, car-free boulevard that runs through the center of the development seamlessly connects these areas and encourages a peaceful way of life.
The project’s cutting-edge telecommunications infrastructure serves as its foundation, enabling real-time, data-driven urban management for maximum operational efficiency by powering IoT and AI systems. Better user experiences for locals and tourists will result from smooth digital services and the freedom to incorporate cutting-edge smart technologies.
In keeping with Beyoncé’s dedication to sustainability, the Digital City uses renewable energy sources, employs effective resource management techniques, and strives for LEED certification for its buildings.
In order to maximize mobility and reduce environmental impact, smart transportation solutions will also be integrated, such as IoT-enabled traffic systems and electric and autonomous vehicles.
Beyon has teamed up with Edamah, who have been assigned to manage the project’s development, to realize this vision.
Edamah’s ability to reliably, competently, and successfully complete projects on schedule while adhering to the strictest international standards is what motivated the decision.
“We are excited to collaborate with Beyon on such a pioneering project. 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,” remarked Edamah CEO Christopher Calvert.
“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,” he added.
