The $2.5 billion waterfront development, Bahrain Bay Development announced yesterday its participation in a regional business-to-business real estate exhibition, Cityscape Global 2010 in Dubai.
To date, 65 per cent of Bahrain Bay's land parcels have been sold and the project has 13 developers. Two more were awarded building permits from the Manama municipality with one even commencing work on site, the developer said in a statement yesterday.
"Cityscape Global is the region's most significant annual real estate exhibition.
Each year it provides us with the opportunity to market the project to both regional and international investors. Last year, we received an overwhelming amount of interest despite the tough economic environment," said Bob Vincent, CEO, Bahrain Bay.
"The end of September also marks the 50th month of uninterrupted works on site and this can be attributed to the efforts of the contractors, developers and the government. Their continued commitment towards the project has ensured the development remains on track."
While the Arcapita headquarters building will soon be ready for occupancy, site-wide infrastructure is to be finished in the coming weeks.
"Bahrain's reputation as the most cost-effective operating base in the GCC and its growing reputation for ease of doing business has meant the country is increasingly becoming an attractive business location despite the still challenging environment," said Abdulla Al Dosari, Deputy CEO, Bahrain Bay.
© Bahrain Tribune 2010
