Sep 29 2009
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First Bahrain appoint DTZ as leasing agent for 716,000 square feet warehousing project
Global real estate adviser, DTZ to market the region's first SME focused integrated warehousing and logistics development
Manama, September 29, 2009: First Bahrain, an innovative regional real estate developer, today announced the appointment of DTZ, one of the largest, diversified real estate services companies as exclusive leasing agent for its 716,000 sq ft, warehousing project at the Bahrain Investment Wharf ( BIW ). DTZ will be spearheading the marketing of the region's first, USD 45 million small to medium enterprises (SME) focused integrated warehousing and logistics development, the first phase of which is scheduled to be completed by December 2009.
Amin Al Arrayed, General Manager of First Bahrain commented: "The appointment of DTZ as our leasing agent reaffirms our commitment to deploying the highest standards in all aspects of our business. DTZ, world leaders in providing innovative business solutions, with a strong presence in the local market, were our preferred choice. We are delighted to be working with DTZ on marketing this exceptional warehousing development aimed at stimulating growth in the SME sector, while addressing the shortage of quality and flexible storage space."
According to Robert Addison, Director - Country Manager of DTZ, "We are pleased to have been chosen to exclusively market this outstanding new facility on behalf of First Bahrain. With state-of-the art storage spaces built to the highest quality and standards, space at First Bahrain's development ranges from as little as 250 square metres to over 1000 square metres, accommodating the needs of most market tenants. These factors, coupled with its outstanding location, tremendous flexibility and quality space solutions, make it ideal for value-conscious tenants looking for a well-positioned facility. Given all the positive factors of this warehousing develpment, we are confident that this latest facility will be met with very strong market demand and a quick lease-up period."
In addition to the physical warehousing space, the development will boast a range of services that cater to the needs of tenants including 24 hours a day, seven days a week security service, state-of-the-art information communication technology provisions, assistance on efficient design and use of space, and a range of other value added services.
About First Bahrain
First Bahrain Real Estate Development Company is an innovative regional real estate developer established in Kuwait in October 2004. The organisation has a paid up capital of KD 31.5 million
Dedicated to achieving sustainable returns through collaborative relationships, First Bahrain creates enduring value for all stakeholders with a demand-driven investment approach. Operating out of Bahrain and Kuwait, First Bahrain is strategically positioned to execute projects across the GCC, in accordance with the principles of Sharia.
DTZ is one of the top four global real estate advisers with over 12,500 staff operating under the DTZ brand across 150 cities in 45 countries. The parent company, DTZ Holdings plc, is quoted on the London Stock Exchange since 1987.DTZ's client-focused activities across EMEA, Asia Pacific and the Americas range from high quality capital markets services, to cutting-edge occupier-led property advice. DTZ provides full-service expertise spanning all real estate sectors.
DTZ was the first international property adviser to establish permanent operations in the Middle East in 1975 and is currently undergoing aggressive expansion in the region to match a growing high-profile client list.
DTZ has a presence in six GCC locations: Abu Dhabi, Dubai, Bahrain, Kuwait, Qatar and Saudi Arabia
Issued on behalf of First Bahrain by Hill & Knowlton.
For press information contact:
Hill & Knowlton
Tel: +973 1753 3235
Fax: +973 1753 3370
© Press Release 2009
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