May 06 2012
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Seef Properties Announces Collaboration with Muharraq Mall Company
Seef Properties signed a partnership agreement with Muharraq Mall Company announcing their acquisition of a 50% stake in the upcoming Muharraq Seef Mall near Arad Fort.
The new partnership paves the way for the development of the BD 18.7 million project whereby Seef Properties will be responsible for the leasing and management of the mall which is projected to open byQ3 2014.
Integrated with the new corniche constructed along Arad bay, the Muharraq Seef Mall has a total leasable area of 30,000 sqm and will have on-grade parking with retail space spread over two levels. The projectwill contain retail and leisure outlets and has been designed to cater for the needs of the residents living in Muharraq and visitors alike. The project includes an open air amphitheatre that will be used for public and cultural events.
Adnan Al Bassem, Chairman of Muharraq Mall Company added, "We are delighted with our partnership with Seef Properties . Their backing of the project and the experience they bring will add significant value and ensure the success of the project. "
The Muharraq Mall Company w.l.l. is a 55/45 joint venture between the Malls Real Estate Development Company and Haykala Investment Company.
About Seef Properties
Seef Properties is primarily engaged in the real estate business and in providing retail, leisure and recreational facilities. A developer and manager of over 800 commercial retail units in 45 different locations in the Kingdom of Bahrain, the Company owns and manages Seef Mall , Isa Town Mall, Fraser Suites Seef as well as other commercial and entertainment facilities such as Magic Island. Charity plays a significant role in its activities, with BD100,000, for the past three years, earmarked from its annual profits for charitable purposes and to support non-profit, philanthropic organizations in the Kingdom
Issued by prlinks on behalf of Seef Properties
For media enquires contact prlinks on 17822229
© Press Release 2012
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