'Seef Properties' signs lease agreement with 'BinDawood Holding' to open first 'Danube' supermarket in Bahrain at 'Al Liwan' project

Manama:  Seef Properties, one of the leading integrated real estate development companies in the Kingdom of Bahrain, recently announced that it had signed a lease agreement with BinDawood Holding in Saudi Arabia. Under the agreement, the Company will open a Danube Supermarket branch at Al Liwan; one of the promising projects being developed by Seef Properties through Lama Real Estate W.L.L, in Hamala area in the Northern Governorate.

The agreement stipulates opening the first branch of the Saudi supermarket chain in the Kingdom of Bahrain, at Al Liwan Project, and it will occupy an area of more than 5,000 square meters. The finishing works and decorations are expected to commence during December 2020, whilst Danube supermarket is scheduled to open by next year.

It is worth mentioning that BinDawood Holding is one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom of Saudi Arabia. The company has two unique retail chains, BinDawood and Danube, with a nationwide grocery retail chain footprint of 73 stores in 15 cities across Saudi Arabia. The Company has grown from a small trading company to one of the leading retailers in the neighboring Kingdom and its success story is driven by continuous innovation and a commitment to building long-term relations with suppliers, partners and customers.

Since becoming part of BinDawood Holding in 2001, Danube supermarket branches have spread in various cities within Saudi Arabia, reaching 46 branches today, with the continuation of the expansion program in line with the company's ambitions to strengthen its leadership in the retail sector.

The signing of the agreement comes within Seef Properties strive to contribute to supporting the local economy through the attraction of exceptional investments, and as part of its duties as a leading national company in the real estate development and retail centers management fields, reinforcing the prestigious position of the Kingdom of Bahrain as a key commercial and retail trade hub in the region, in addition to creating job opportunities for ambitious Bahraini youth, in consistency with the vision of the Kingdom's Wise Leadership.

On this occasion, Seef Properties Chief Executive Officer Mr. Ahmed Yusuf said: "We are glad to welcome BinDawood Holding onboard Al Liwan Project, as this partnership will be a key attraction to a large segment of visitors to one of the most diverse and integrated real estate development projects in Bahrain, considering its unmatched features and facilities, which will tangibly contribute to the national economy.”

Mr. Ahmed Yusuf added: "This agreement reflects Seef Properties' commitment to attracting the finest commercial brands to fulfil the aspirations and requirements of the residents and visitors of Al Liwan Project, and to ensure providing them with the best shopping options. It also embodies the importance of the Project as an attraction to major enterprises that seek widening their clients base in the Kingdom of Bahrain."

For his part, Mr. Ahmad AR. BinDawood, CEO of BinDawood Holding, said: “The new Danube hypermarket in Bahrain is a great start in gaining an international foothold and strengthening our brand by creating a new food and shopping experience there. The opportunities in Bahrain, and specifically in the Al Liwan Project, is significant. We are going to be the anchor grocery retailer on this important project, providing employment for the local residents and creating healthy food options for a very large and dynamic community and the surrounding neighbourhoods. We are committed to providing our customers with a wide variety of fresh, authentic and high-quality foods, as well as the same customer service and in-store experience we are well-known for.”

Occupying 122,000 square meters, Al Liwan Project oversees Wali Al Ahd Highway and consists of a unique blend of shopping and entertainment destinations, with seven cinema halls and the largest entertainment center on the island. The project also includes a fully equipped gym and a select array of renowned restaurants, coffee shops and outlets to provide the best experience for the project visitors.    

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About Seef Properties B.S.C.:

Seef Properties B.S.C. was established in the year 1999 as a as a public shared company listed on Bahrain Bourse and its operations are headquartered in the Kingdom of Bahrain, becoming a leader in the retail, hospitality, entertainment and real estate development sectors on the level of the Kingdom. Today, Seef Properties manages a large portfolio of assets, promoting its position as a distinguished commercial brand. The vision of Seef Properties is centered to its constant strives to become a leading real estate company in innovation and diversity, driven by the implementation of the highest standards and values to achieve its goal in excellence, and the satisfaction of shareholders, partners and clients. The Company’s message is centered to the development, acquisition and management of a real estate investment portfolio that serves the retail, entertainment and hospitality sectors.

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© Press Release 2020