Manama, Kingdom of Bahrain - 2 October 2010 - Bahrain Bay Development B.S.C.(c), the $2.5 billion landmark waterfront community located off the north shore of Manama, today announced its participation in the region's biggest business-to-business real estate exhibition, Cityscape Global 2010. 

The renowned international real estate investment and development event will take place from the 4 to 7 October 2010 at the Dubai International Convention and Exhibition Centre and will showcase over 110 exhibitors from more than 22 countries. 

Cityscape provides Bahrain Bay with an ideal platform to announce the development's ongoing progress as well as market the project's remaining available land parcels. To date 65 percent of Bahrain Bay's land parcels have been sold and the project has a total of 13 developers on board. In recent months the project has seen the accomplishment of several key milestones; a further two developers have now been awarded building permits from the Manama Municipality with one having commenced work on site, construction of the Arcapita headquarters building is now complete and will soon be ready for occupancy, while site-wide infrastructure has continued to progress on schedule and is due to be finished in the coming weeks. 
 
Speaking on the development's upcoming participation, Bob Vincent, CEO, Bahrain Bay said, "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. I am looking forward to a similar response this year as we showcase Bahrain Bay's most recent achievements including the completion of site-wide infrastructure and the award of the contract to Chapo for the development of the offsite 220kV substation. The end of September also marks the 50th month of uninterrupted works on site, this achievement 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." 
 
Abdulla Al Doseri, Deputy CEO, Bahrain Bay said, "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 and cost effective business location despite the still challenging environment. Our aim at Cityscape, is to advance and promote this position for the Kingdom of Bahrain. 2010 marks our 5th year participating at the event and I am in no doubt that this year will prove to be as successful as the last." 

Bahrain Bay offers a range of high quality development opportunities for developers and investors looking to participate in creating residential, commercial and retail offerings. The projects three anchor developers include Arcapita Bank, the leading international investment firm and the principal shareholder in the project, the Kingdom's only Four Season's Hotel as well as CapitaLand's first GCC development, Raffles City Bahrain. Bahrain Bay has also attracted investment from other leading local and regional firms such as Cooperation Investment House, one of Bahrain's most active Islamic Sharia compliant integrated real estate developers, the building conglomerate DAMAC Holdings and the Mumbai based Ajmera and Mayfair consortium. 
 
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About Bahrain Bay Development B.S.C.(c) (www.bahrainbay.com)
Bahrain Bay is a $2.5 billion mixed-use waterfront development set off the north-eastern shore of Manama, Bahrain. Construction on the project began in June 2006. The development offers an ideal location based upon an unparalleled master-plan, projecting a living and working population of between 25,000 to 30,000 people designed for the very best in 21st Century living.   

Designed by Skidmore, Owings & Merrill, a world leading architecture and urban design firm based in New York, the master-plan for Bahrain Bay emphasizes a fusion of neighbourhoods, open spaces, entertainment, retail and commercial areas which will serve as a symbol of Bahrain's promising future. The community is anchored by three key developments: the Kingdom's only Four Seasons Hotel; CapitaLand's first GCC development, Raffles City Bahrain; and the new headquarters building for Arcapita Bank, the leading international investment firm and lead investor in the project.   

Committed to establishing and maintaining a new standard of urban centre, Bahrain Bay brings fresh energy to Bahrain, combining diverse components and contrasting elements into an authentic and welcoming destination. 

For further information please contact:
Bahrain Bay sales centre: +973 17505555 www.bahrainbay.com 

Gene Redelinghuys
Bahrain Bay Development B.S.C.(c)
Tel: + 973 17505555 
Email: gredelinghuys@bahrainbay.com

© Press Release 2010