Over 89% of the Offered Plots Sold and Infrastructure Works On Track

For these reasons, Investment Gateway-Bahrain retains its position as home for a wide array of major Establishments

Manama - Manara Developments - Saturday 21st March 2015: Managing Director of Manara Developments Dr. Hasan Al Bastaki said, "Investment Gateway - Bahrain" stands as one of the "Manara's" major developments underway, denoting that the project is currently in its early phase and all the performance indicators collected so far advocate to proceed with the master plan which is unique in the Kingdom of Bahrain. 

He Said that the decision undertaken in September 2014 to changing the zoning of the "Investment Gateway - Bahrain" project into a unique zone site, represents one of the major steps towards incentivizing and stimulating investment in the Kingdom of Bahrain and particularly foreign direct investment (FDI) thus permitting non-Bahraini individuals and companies to own plots in this project. A feature that will characterize this project, and the Kingdom of Bahrain as a whole into a prime investment district to a multiplicity of light industry and logistical support establishments on both the local and regional level.

In Line with 2030

Managing Director of Manara Developments pointed out that this step contributes greatly to the Bahrain Economic Vision 2030, which aims to develop Bahrain into an attractive destination for foreign direct investment, and a regional Middle Eastern services hub in terms of the provisions of logistical services. This is further represented by the wide array of companies choosing to set up their regional branches on the island. He further stressed on the ease of economic accessibility to the thriving economies of the gulf region, and the availability of sophisticated land, sea, and air transport means between ports and airports, notwithstanding logistics zones in multiple locations around the gulf, and ongoing infrastructure development initiatives, and Bahrain's trade alliances with over 60 countries worldwide thus promoting an open trading environment in the Kingdom.

He also mentioned that "Manara Developments" has worked during early phases of initiation to set up the project as distinct and unique to its competitors in the Kingdom of Bahrain, in addition to the high quality of these areas and the service mix present in these areas in general.

The success and overwhelming response witnessed in phase one of the sales in the project is primarily the reason for proceeding with the second phase of sales, while the second phase of sales is now   achieving the same success witnessed in phase one. Dr. Al Bastaki described this interest as a "thirst" in the industrial investment sector in the Kingdom of Bahrain for all different varieties of industry, evidenced by the sale of more than 89% of all plots offered at record time.

A project unique in all its aspects

Amongst the major factors distinguishing this project, as Dr. Al Bastaki reiterated: "is not only the prime location of "Investment Gateway - Bahrain" that attracts investors, as the project falls in between Bahrain International Airport and Salman Industrial Area in Hidd, and the expressway linking to Mina Salman thus situating the project as a meeting point for the Kingdom's major commercial establishments offering wholesale, retain, light industry motor vehicles, accessories and other commercial activities". He pointed out that all these characteristics promote speed of transportation and close proximity to the Kingdom's ports.

He also pointed out that amongst the main features of this project are " the flexibility for long term investment upon ownership of the industrial plots in this vibrant location, and the possibility of investment by the owners of which was a main factor to attract investors with long term strategic visions". As Dr. Al Bastaki noted, "Investment Gateway - Bahrain" aspired in its earliest stages to be a focal point for major establishments like Ebrahim Khalil Kanoo, Yousif Khalil Al Moayyed & Sons, Montreal Motors, Trafco Group, Ceramica Delmon and Bahrain Limo, in addition to Ramez Stores, Yoko Marine Construction, Mohammed Ali Zainal Co. (Maza) and other major establishments with a multiplicity of business activities in the Kingdom of Bahrain.

Amongst "Investment Gateway - Bahrain" distinguishing factors, as Dr. Al Bastaki noted, is that its properties are sold rather than leased for a limited period as sub-developers are given the light industrial plots' title deeds upon purchasing the plots and granted the luxury to invest on a permanent basis without adhering to the limitations imposed by temporary leases. Further, the owner enjoys the flexibility to invest as seen best suited to the establishment's current and future needs.

The locations will have the capacity to serve as offices, showrooms, storage facilities, handling services, and sales offices, all of which are essential requirements to undergo a smooth business in the Kingdom of Bahrain and particularly Muharraq governorate.

Dr. Al Bastaki added that the project's competitive pricing is a main characteristic of which "Manara" maintained for the "Investment Gateway - Bahrain" to provide a wide range of opportunities on the offered light industrial and commercial plots at competitive prices to build demand towards this vibrant location and further deliver a promising platform for businesses in the Kingdom of Bahrain.

Infrastructural Works On Schedule

As for the current project activity at present, Dr. Hasan Al Bastaki confirmed that infrastructural construction works that have been agreed upon earlier last year are in progress as per the initial schedule, where it started in the third quarter of last year and scheduled for completion in the third quarter of next year 2016.

Infrastructural construction works will include the internal transportation network, sewage system, electrical wiring, and the communication network in order to develop a modern and progressive infrastructure with potential for future developments and improvements.

On that very note, Dr. Al Bastaki stated that paying a particular focus on design and construction quality of infrastructure for the "Investment Gateway - Bahrain" project is crucial as it is not sufficient to make use of only what is available at present, but also a more long term vision is needed to address current and future needs as it offers holistic solutions for showcasing and storage, and looks forward to rapid developments and improvements and services offered. 

It is also worthy to mention, that URS, a global specialized company had undertaken the design of the infrastructure project for "Investment Gateway - Bahrain", as URS is distinctly known as one of the most established British design companies with branches around the world, the Kingdom of Bahrain being one of them. The company specializes in engineering consultancies, infrastructural design, construction supervision, environmental and marine engineering, and design of road and traffic networks for major government projects within the Kingdom of Bahrain since 2005.

The tender for this project has been launched by the company on the 13th of April 2014 to appoint a design consultant to design a 66kv electrical substation, and the company is anticipating bids to evaluate and appoint a bidder. This bid serves to fulfill and a major part of the infrastructural works of which will enable the launch of more plots at "Investment Gateway - Bahrain". Further, the tender was launched to major international companies specialized in the field of infrastructural design and engineering and operating in the Kingdom of Bahrain.

About Manara Developments Company B.S.C. (Closed)
Manara Developments Company BSC (Closed) is a Bahrain - based real estate development company with a diverse project portfolio.  Manara is determined to bring new insights, a fresh perspective and an all considered approach to real estate development in the Middle East market.

Manara Developments is driven by a core desire to become one of the top regional real estate developers by delivering a distinct portfolio of projects that are sensitive to their surroundings and leave a positive imprint on the community which houses them, from a social, economic and environmental perspective. Wherever possible, the Company will source national resources and will deploy the latest in design, construction and environmental technologies to help deliver socially-aware projects synonymous with quality, sustainability, value-for-money and on-time delivery.

The company's mission is guided by a sincere, humanistic 'All Considered' philosophy stemming from a deep-rooted sense of social responsibility - to develop conscientiously with the best interests of the community in mind and strive to deliver.

For more information, please contact:
Mr. Nawaf Ali Alghanim
Manager - Marketing and Corporate Communications
Mobile : +973 39 820 121
Tele : +973 17 518 667
Fax: +973 17 131 074
Email: n.alghanim@manara.bh

© Press Release 2015