Sahab Al Khaleej Housing Development Company was incorporated in Bahrain in 2005 with the objective of developing residential properties of various types in the mid to lower price range. IIB's market research revealed a chronic shortage of affordable housing in Bahrain, and the Government of Bahrain has publicly announced its desire that the private sector play a role in meeting the demand. IIB is keen to promote projects that fulfil its corporate social responsibility objectives while also achieving attractive returns for the Bank's investors, and the company fits this profile.

The company was launched with an authorised capital of US$53 million and issued capital of US$ 22.6 million, following strong interest from private and institutional investors from around the GCC. Sahab Al Khaleej offers investors an attractive Internal Rate of Return ("IRR") in excess of 16% per annum over a three to five year investment horizon, with scope for enhancement through capital appreciation at exit. IIB's intention is to replicate the structure of the company in other selected markets in the GCC.