The contract to build the US$250 million (BD95 million) Abraj Al Lulu development has been awarded to Al-Hamad Construction & Development Company by Pearl Development and Real Estate Company.

The 200,000 square feet project in a prime location in Bahrain has received a huge response from investors, with 40% of the project already sold.

Abraj Al Lulu has recently made agreements with the Bank of Bahrain and Kuwait, Shamil Bank and Bahrain Saudi Bank for Islamic home finance and mortgage facilities for its investors.