$2.5bn Bahrain Bay draws increased investor interest

$2.5bn Bahrain Bay draws increased investor interest

The $2.5-billion Bahrain Bay development in Manama is drawing increased investor interest following the completion of key aspects of the project, a forum heard.

The past year has been one of growth and expansion, with over 86 percent of plots sold, the infrastructure complete and projects of third party developers nearing completion, officials said at the Bahrain Bay Business Forum.

The development stands well positioned as it offers enormous opportunities to investors as it consolidates Bahrain’s status as a hub for business and investment opportunities in the region, the forum heard.

The forum, a well-attended investor event, which brought together partners, associates and dignitaries involved with Bahrain Bay, a luxury waterfront development, was held at the Four Seasons Hotel on Thursday (January 25).

A joint venture between Arcapita and a Bahrain-based investment group, the Bahrain Bay development has attracted some of the best-known international brands to Bahrain. Many of the third party developers from Bahrain, the GCC and India were present for the forum.

The forum began with an address from Bahrain Bay chairman and Arcapita CEO Atif Abdulmalik, followed by a presentation from Bahrain Bay CEO Gagan Suri. Speakers also included several prominent partners and associates, amongst whom were Mohamed Al Mutaweh, CEO and board member of Al Baraka Islamic Bank; Faisal Bin Faqeeh, chairman of Bin Faqeeh Real Estate Investment Group;  Nayan Shah, the CEO and managing director of Mayfair Group; and Greg Pirkle, general Manager of Four Seasons Hotel. Sharing their insights also were Jarmo Kotilaine, chief economist, market strategy and intelligence at the EDB, and Xavier Theillere, regional director of Bahrain Bay Utilities.

The forum provided a platform that strengthened high value networks and gave Bahrain Bay an opportunity to communicate its vision and update the guests on the progress of the development.

Abdulmalik said: “Bahrain Bay revolves around creating a metropolis for 21st century living that will meet the needs of residents, businesses and visitors from all over the world. Despite the uncertain geopolitical climate and volatile economic climate, the positive activity at Bahrain Bay has set an encouraging momentum which is promising as we focus on achieving our vision, our future of becoming a true legacy for the Kingdom of Bahrain.”

The forum was also viewed as an excellent opportunity to showcase Bahrain, and to highlight its business friendly economy.

Suri added: “We have been very successful in presenting a dynamic investment environment through the premium properties and the excellent facilities of Bahrain Bay. We are proud of the fact that Bahrain Bay has remained stable through the economic challenges of the last decade. We have a network of strong and trusted partners and investors with whom we have a unified vision. This forum will help in setting up crucial partnerships and provide information and support to potential international investors in the kingdom.”

 

Source: TradeArabia.com

February 28, 2016 / by / in ,
Investment opportunities in Bahrain Bay highlighted

The 2016 Bahrain Bay Business Forum, a well-attended investor event, which brought together partners, associates and dignitaries involved with Bahrain Bay, a luxury waterfront development, was held here recently.

The gathering of top-level attendees provided a unique opportunity to meet new business partners and build closer relationships.

A joint venture between Arcapita and a Bahrain-based investment group, the $2.5 billion Bahrain Bay development, has attracted some of the best-known international brands to Bahrain. Many of the third party developers from Bahrain, the GCC and India were present for the 2016 Bahrain Bay Business Forum.

The Forum began with an address from the Chairman of Bahrain Bay and CEO of Arcapita, Atif Abdulmalik followed by a presentation from the CEO of Bahrain Bay, Gagan Suri. Speakers also included several prominent partners and associates, amongst whom were Mohamed Al Mutaweh, Chief Executive Officer & Board Member of Al Baraka Islamic Bank; Faisal Bin Faqeeh, the Chairman of Bin Faqeeh Real Estate Investment Group; Nayan Shah, the CEO and Managing Director of Mayfair Group; and Greg Pirkle, the General Manager of Four Seasons Hotel. Sharing their insights also were Jarmo Kotilaine, Chief Economist-Market Strategy & Intelligence at the EDB and Xavier Theillere, the Regional Director of Bahrain Bay Utilities.

The Forum provided a platform that strengthened high value networks and gave Bahrain Bay an opportunity to communicate its vision and update the guests on the progress of the development.

Speaking on the occasion, Mr Atif Abdulmalik, Chairman of Bahrain Bay said, “Bahrain Bay revolves around creating a metropolis for 21st century living that will meet the needs of residents, businesses and visitors from all over the world. Despite the uncertain geopolitical climate and volatile economic climate, the positive activity at Bahrain Bay has set an encouraging momentum which is promising as we focus on achieving our vision, our future of becoming a true legacy for the Kingdom of Bahrain.”

The Bahrain Bay Business Forum was also viewed as an excellent opportunity to showcase Bahrain, and to highlight its business friendly and progressive economy. The development stands well positioned as it offers enormous opportunities, impacts the lifestyle of citizens, and significantly influences the economy, while consolidating the Bahrain’s status as a hub for business and investment opportunities in the region.

Gagan Suri, CEO, Bahrain Bay added, “We have been very successful in presenting a dynamic investment environment through the premium properties and the excellent facilities of Bahrain Bay. We are proud of the fact that Bahrain Bay has remained stable through the economic challenges of the last decade. We have a network of strong and trusted partners and investors with whom we have a unified vision. This forum will help in setting up crucial partnerships and provide information and support to potential international investors in the Kingdom.”

Bahrain Bay has continued to maintain its reputation as one of the most robust and successful real estate projects in Bahrain. The past year has been one of growth and expansion, with over 86 percent of plots sold, the infrastructure complete and projects of third party developers nearing completion. Bahrain Bay continues to invite investor interest as the best address for business, hospitality and residential developments.

 

Source: Bahrain News Agency

February 27, 2016 / by / in ,
Bahrain and Russia ‘are key partners’

Bahrain is a key partner, Russian President Vladimir Putin said yesterday following talks with His Majesty King Hamad at Bocharov Ruchei presidential residence in the Black Sea resort of Sochi.

He pledged to continue efforts to bolster co-operation, in light of the global economic and security related challenges.

“Bahrain is a key partner not only in the Gulf region but also in the Middle East,” he said.

“We are happy to meet our Bahraini friends and discuss the overall regional and international situation with them,” the Russian President said.

Thanking President Putin for the invitation to visit Russia, His Majesty said it was an opportunity to bolster bilateral relations.

“Undoubtedly the situation in the Middle East is important,” the King said, stressing the need for co-operation to overcome economic and security challenges.

Source: GDNonline

February 10, 2016 / by / in ,
Gulf Industry Fair focuses on economic diversification

Manama: The Gulf Industry Fair 2016 (GIF) opening today under the patronage of His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa will see the unveiling of a series of events and initiatives enhancing its reputation for being the GCC’s exclusive annual industrial promotion showcase championing economic diversification and industrialisation.

Organised by Hilal Conferences and Exhibitions (HCE), the three-day fair will run till Thursday at Bahrain International Exhibition and Convention Centre.

GIF is billed as a unique one-stop shop for the elements of industrial development across the sectors of aluminium, energy and environmental protection, industrial metals, industrial processes and manufacturing, logistics and industrial facilities, industrial security and safety, ports and maritime industries as well as training for industry.

“The 2016 exhibition takes place at a watershed period for the economies of the region,” said HCE managing director Jubran Abdulrahman.

“The economic importance for encouraging industrial promotion has never been required more than at this time of declining oil prices. GIF will focus on promoting economic diversification through the elements of industrial development,” Mr Abdulrahman added.

GIF is endorsed by some of Bahrain’s most high-profile industrial organisations, including the National Oil and Gas Authority in association with Bapco and Alba, the sponsors of the energy and aluminium sectors.

Majaal, Bahrain’s SME-focused developer and operator of industrial facilities, is also a solid supporter of industrial facilities for industrial diversity.

“Majaal have led the way by providing their support to the Logistics and Industrial Facilities Zone at Gulf Industry Fair,” said Mr Abdulrahman.

“Their presence and support at GIF provides the event with a vital element for industrial growth as companies require a premises to develop and grow their businesses.”

The iTECH Industry Forum being held alongside will lead the way to promoting industrial innovation from the IT sector directly to industry at GIF.

The iTECH Industry event provides direct access for the IT sector to target customers involved in diverse industries.

The iTECH Industry Awards 2016 will feature awards for: Best Use of Cloud, Women in IT, Best Software Solutions Provider, I-Achievers, I-Entrepreneur, Big Data and Analytics Solutions and Security Enablers.

Source: GDNonline

February 10, 2016 / by / in ,
Diyar to launch sale of seafront development

Manama: Diyar Al Muharraq has announced that sales of the second phase of its seafront development Al Bareh within the master-planned island city will be launched today.

The plan to sell the plots in the second phase of Al Bareh on a freehold basis to all nationalities comes following the success of the previous sale in December last year, said the developer.

The first phase plot sale was a major success with all the residential plots being sold out.

“Al Bareh is a seafront development that wholly embraces the elements of nature in a seamless blend and is manifested in the west division of Diyar Al Muharraq,” chief executive Dr Maher Al Shaer said in a statement.

It features three key elements –  seafront residential plots for high-end villas easily accessible both by sea and by road; residential plots within walking distance of waterfront parks in the heart of the project and residential investment plots designated for the construction of multi-storey buildings overlooking the main road.

“In addition to that, plots in Al Bareh are being offered for sale on a free-hold basis, where owners are entitled to build their homes in accordance to their own preferences, in line with the standards set in advance by Diyar Al Muharraq,” stated Dr Al Shaer.

“This has contributed in encouraging investment by all segments of society seeking a serene lifestyle imbued in privacy,” he added.

Diyar Al Muharraq offers a cohesive mix of residential and commercial properties with a strong line-up of projects aimed at creating a long-term and sophisticated township.

Upon completion, it will encompass over 40km of waterfront with sandy beaches, and all the elements of a vibrant community ranging extensively from fully-equipped educational facilities and schools, medical centres, recreation facilities, shopping malls, expansive parklands, hotels and marinas.

Source: GDNonline

February 7, 2016 / by / in ,
Riffa Views project work is on track

Manama: The work was in full swing to complete the building of 61 villas at the Riffa Views’ Parks Estate, the Poullaides Construction Company announced yesterday.

It expressed commitment to the schedule set for the completion of all construction work within the work plan agreed upon last year.

Riffa Views managing director Yasser Al Raee lauded the speedy construction process, hailing the co-operation of all parties.

He asserted that the way was well paved for the completion of the 212 villas according to the pre-set action plan.

He added that the sale of the villas was underway since the beginning of the year, and that a number of villas had been booked or sold.

Poullaides officials expressed delight at the start of the work to complete the remaining villas of the Parks Estate, noting that work had already started on the 61 villas. They affirmed the company’s commitment to the completion date of the project as agreed. They lauded the great co-operation shown by the Riffa Views BSC (c) to implement the execution plan, adding that work was in full swing and that the number of technical and consulting staff at the work sites was increasing.

Riffa Views is Bahrain’s first master-planned golf residential community of 1,056 villas set around an 18-hole signature championship golf course designed by Colin Montgomery. It includes three residential complexes – Parks Estate, the Lagoons Estate and the Oasis Estate. It hosts the Royal Golf Club, the Royal Country Club, Riffa Views International School (RVIS), the RVIS Tennis Academy, the RVIS Soccer Academy, mosques and Riffa Palms, a neighbourhood retail destination.

Source: GDNonline

February 7, 2016 / by / in ,