Aligning with Bahrain’s Economic Vision 2030, SARKCO Group in Bahrain brought nine individual entities together to form a conglomerate. Spanning various industries and bringing investments in millions, the Group is striving to be a viable player in the sustainable commercial growth of the Kingdom.
We recently caught up with Sheikh Salman bin Ali Al Khalifa, the Chairman of SARKCO Group to find out how the Kingdom’s “business friendly” environment is making entrepreneurship and innovation possible.
How do you envision your company’s role in Bahrain’s economic development?
Bahrain’s Economic Vision for 2030 highlights the need for entrepreneurship and innovation to create a vibrant private sector that will drive the growth and prosperity of the Kingdom. As a Group, we are completely committed to becoming a significant contributor to this vision. By aligning ourselves with the principles of the Economic Vision 2030, we strive to be a viable partner for sustainable commercial growth and expansion in Bahrain and beyond. We share the same values as the Kingdom, placing Bahrain and its people at the heart of everything we do.
As a young entrepreneur in Bahrain, what are some of the opportunities and challenges you face while growing your business?
Young entrepreneurs in Bahrain have a front-row seat to endless opportunities and challenges in the Kingdom. The country’s steady economic growth has created an ideal environment for businesses to thrive. The government has thrown its hat in the ring to support entrepreneurs by establishing entities that offer support.
Bahrain’s strategic location gives entrepreneurs a head start to expand into a broader market. With a foot in the door, young business owners can take advantage of Bahrain’s startup-friendly policies. While Bahrain’s market size offers an intensely competitive landscape, entrepreneurs can genuinely thrive given the favourable conditions to overcome such challenges. Therefore, young entrepreneurs in Bahrain should seize the opportunities available to them.
What in your opinion are the contributing factors to the growth of the SARKCO Group?
Bahrain’s competitive economy and welcoming atmosphere have played a significant role in our company’s growth and success. The nation’s advanced business infrastructure provides an ideal foundation for us to operate and thrive. By being part of this business-friendly environment, we have been able to contribute our services and specializations across different sectors – be it technology, real estate, retail, or infrastructure.
Can you tell us about how the SARKCO Group was formed? What was the significance behind the merger?
In 2020, we unified various companies that have been operating as separate entities for several years. By consolidating our businesses, we were able to create synergy in purpose and vision, which would benefit each of the companies involved.
What are the different divisions and sectors your Group operates in?
Our group comprises seven divisions operating in various sectors. We’re spread across construction, marble mining, hospitality fragrance and cosmetics, heavy-duty machinery, real estate, home automation and security systems, and jewellery.
What upcoming developments can we expect to see from the SARKCO Group, both in Bahrain and beyond?
We have several exciting developments on the horizon. In Bahrain, we have the Hanging Villas project in Seef, set to be unveiled soon, along with completed luxury villas in Amwaj and ongoing construction of five more. Additionally, a new hotel near Water Garden City in Seef is in the works. These real estate developments are collectively valued at BD 20 million and are set to be completed in 2024 and 2025. In terms of expansion, we are venturing into new territories such as Bosnia, Saudi Arabia, and Dubai, as part of our commitment to exploring new regions and opportunities.
What kind of impact do you plan to create in the tourism sector of Bahrain?
With a combined value of BHD 50 million, we are excited to unveil two magnificent hotels that stand as symbols of our commitment to enhancing the hospitality landscape. Nestled in the heart of Juffair, one of our establishments is taking shape, promising an unparalleled experience for visitors. Simultaneously, in Seef, another beacon of luxury and comfort is nearing its grand completion. Our steady expansion in the hospitality sector reflects our undeterred dedication to helping Bahrain realize its economic development vision for 2030.