Who Owns the Bahrain International Circuit?

By
November 25, 2020 7:30 pm

The Bahrain international circuit is one of the most prestigious and lavish Grand Prix venues. It has been in business since its inception in 2004 and is entirely owned by the Mumtalakat group of companies.

The circuit is under the maintenance of a subsidiary wing known as the Bahrain International Circuit Company (BIC). Subsequently, BIC’s motto is to deliver a world-class sporting experience, creating a center for luxury at the Middle East’s heart.

Over the years, they have attracted a score of foreign direct investments, contributing significantly to the country’s GDP.

F1-Bahrain International Circuit Courtesy: Getty

The Mumtalakat group is an investment fund with a diverse portfolio. However, their major assets are in the real estate and tourism sector, which explains their ownership of the circuit. Bahrain’s economic reform, especially in the private sector, has seen exponential growth.

The authorities crafted Mumtalakat at an economic reform workshop back in 2005, which since been vital to the country’s development.

Khalid Al-Rumaihi became the company’s CEO in September 2019 and has played a pivotal role in the company’s management. Rumaihi was actively involved with the Bahrain Economic Development Board (EDB) as its CEO before joining Mumtalakat.

The primary focal point of Mumtalakat

The company believes in an equal and safe working space for women, projected by their inclusion of several talented women among the senior council members.

Mumtalakat focuses on a two-faceted business model, focusing on the country’s local economic growth and the other engaging strategies that drive the portfolio companies.

The Government of the kingdom of Bahrain is the owner of the company and the Ministry of Finance represents it on the share market.

Besides real estate, Mumtalakat has invested in several other fields too, like aviation (Gulf Air), financial services, food & agriculture, industrial manufacturing, etc.

Versatile and robust leadership with complete transparency between the company and its stockholders is the company’s core principle.

Since the starting, they have been in collaboration with a wide variety of investors with similar interests. Mumtalakat is on a mission to invest in diverse demographics and industries that have the potential for growth to achieve sustainable investment returns.

Read More – Formula One Bahrain Grand Prix in Doubt as Authorities Outlaw Public Gatherings

Disqus Comments Loading...