Manama, Bahrain, January 05, 2010: Bahrain Financial Harbour Holding Company (BFHHC) today announced that Inovest B.S.C, a Bahraini-based, Shariah-compliant investment company has officially relocated its headquarters to the prestigious US$3billion Bahrain Financial Harbour (BFH) complex, selecting to be on the 20th floor of the East Tower. Inovest, which has an established presence on both the Bahrain and Kuwait Stock Exchanges, has business interests which include asset management, private equity, venture capital and real estate investment. Inovest's robust business model is structured around investments in unique and diversified revenue streams backed by sound business and risk practices. The Inovest business philosophy is built on the principles of partnership - accounting for integrated and efficient decision-making, transparency, and above all value-creation.
Also joining Inovest in the Harbour is Al Khaleej Development Co. (Tameer) which acts as Inovest's real estate development arm. Tameer, which is based on the 19th floor of the East Tower provides expertise and services across five main business lines - real estate advisory, real estate investment, investment advisory, as well as property and project management throughout the Middle East & North Africa (MENA). The move for both Inovest and Tameer translates into further synchronizing the companies' existing synergies.
Commenting on the commencement of operations at the BFH complex, Mr. Ahmed Al Qattan, Vice Chairman and Managing Director of Inovest and Vice Chairman of Tameer, said, "It makes good business sense for us to establish our regional operational base at BFH, given the fact that the complex has developed into Bahrain's premier financial district. With its robust infrastructure, dynamic business environment, and strict adherence to best practices and international standards, BFH appeals to our appreciation for quality and business networking. As a tenant we have faith that BFH will provide the ideal platform to expand our operations in the region."
Welcoming Inovest into its growing community of international firms, Dr.Omar Al Mardi, Managing Director, BFH HC said, "We're pleased that Inovest and Tameer have chosen to locate at the Harbour; their presence is a value-addition to the complex. As an established and respected company, its decision to choose BFH as its operational base attests to BFH's standing as the country's premier financial district. BFH's holistic and comfortable work spaces and facilities, based on an integrated cluster model featuring cutting-edge systems, make it one of the most secure, reliable and business-friendly locations in Bahrain. We are positive that Inovest and Tameer will find BFH ideal for pursuing its companies' business plans and we wish them a very productive future."
Between them Inovest and Tameer have a number of accomplishments. The former, announcing the launch of a water technology venture that will establish a filter production facility in Bahrain as well as a BD30 million Real Estate Investment Trust (REIT), which is a first of its kind in the region. From its side, Tameer has a number of landmark achievements including Bahrain Investment Wharf (BIW), BIW Labour Accommodations, BIW Business Park, Durrat Marina, Tala Island, and Adhari Park.
There is no doubt that from their new business headquarters, both companies are further equipped to make considerable strides in achieving sustainable success.
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About BFH
A fully integrated, master-planned development, the US$ 3 billion Bahrain Financial Harbour (BFH), is creating a complete financial city, a self contained community and reinforcing Bahrain's unique position as the financial capital of the Middle East. A first of its kind development in the region, BFH is a highly focused, committed and advanced financial environment spread over 380,000 square metres of prime seafront property in the centre of Manama, Kingdom of Bahrain. Furthermore, it comprises 10 projects that distinctively combine business, leisure and residential components under one canopy. Phase I of the project 'The Financial Centre' which includes the Harbour Towers - Bahrain's tallest towers and the Harbour Mall. The Financial Centre is operational and open for business.
© Press Release 2010
