In 2002, FIRST was established as a Bahraini Limited Liability Company with a paid-up capital of BD 500,000/- . It was solely owned by two, well-known real estate developers. In 2005, the structure of the Company changed to a Bahraini Joint Stock Closed Company with a paid-up capital of BD 30 million. In March of 2007, the paid-up capital was increased to BD 31,800,000/- . In November of 2007, the shareholders agreed to change the structure of the Company to a Public Holding Company. This will enable the Company to increase its resources to a well capitalized company, committed to further develop its strategy and operations to grow locally, regionally and internationally. First Real Estate Company (FIRST) was founded and restructured to achieve sustainable growth strategies and a prominent reputation within the local real estate market, while offering rewarding opportunities for its investors, management and staff. The Company's professional and experienced management team has worked ardently at procuring broader field of investments by expanding its focus beyond the residential market to the commercial market. FIRST continues striving to enhance its asset value and meet shareholder expectations through the implementation of planned growth and qualitative diversification initiatives on both local and regional levels.