Launched in late 2007, Lagoon Leasing is a US$ 24 million, three-year fund for the purchase of units owned by Lagoon Real Estate Development (LRED). LRED is the owner company of The Lagoon, the only commercial development at Amwaj Islands in Bahrain. The Lagoon is a major development comprising over 55,000 square meters of commercial and retail space, featuring several renowned retail brands, that are available on a freehold basis to both GCC and non-GCC investors. ROI for Lagoon Leasing investors is expected to come from rental and sales revenue on leasing and selling units. The projected IRR is more than 20% per year over an anticipated three-year investment period.