BizBahrain April 2016

May 2016
1

2 May 2016

May 2016
3

CONTENTS May
2016
10 | Exclusive Feature
Showcasing A Dynamic Industry
Even as the GCC markets come to grips with a prolonged period of
economic challenges predicted for the year ahead, Bahrain is in a good place
comparatively. Recent studies indicate that the demand for real estate in
2016 is already stronger than had been predicted by many market analysts
who had forecast a slump on the back of declining oil prices.
FEATURES
12 | Creating Meaningful Spaces
Interview with Ahmed AlQaed
Managing Director, Ahmed AlQaed Group
16 | On Track to Fulfill the Promise
Interview with Yasser Abdulrahman Al Raee
Managing Director, Riffa Views
20 | Designing Architectural Masterpieces
Interview with Mohamed Araiqat
Arab Architects
22 | The Art of Running a Multi Faceted Business
Interview with Faisal Jawad
Chairman & CEO
26 | In the Business of Continuity
Interview with Kamal Tabaja
COO, Trust Re
30 | Working with a Wealth of Ideas
Interview with Dr. Farid Al-Mulla
Chief Executive Officer, Oasis Capital Bank
4 May 2016

May 2016
CONTENTS
34 | Empowering Lives
Interview with Sultan Sharabati
Unit Manager-Bahrain, Bayt.com
36 | Focus | Virtual Office
Understanding the concept of a Virtual Office
38 | CBRE | Real Estate Analysis
The forces that shape where and how we work
40 | ASAR | Finance Law Analysis
Listed Real Estate Investment Trusts: A New Avenue for Investment
42 | Focus | Company Formation
Countries and Over Night Fame
44 | Opinion | Business Strategy
Toward Compassionate Corporate Culture
46 | Specialist | Public Speaking
How not to get a ‘D’ for your Delivery!
48 | Marketing at its Best
When you know you are Coasting
May 2016
5

SECTORS
54 | Government:
Oil & Gas Platform for Bahrain and Malaysia
“Be Productive” Home Business Initiative
EDB Bahrain Hosts Chinese Delegation
Nogaholding Signs US$570 Million Boost
INJAZ Bahrain launches Young CEOs Programme
Women empowerment contributes to economy
Bahrain ranks Third for Expatriates
58 | Banking & Finance:
GFH Group Partners Abu Dhabi Financial Group
Financial sector employment shows growth
GIB's low volatility equities
Changing Patterns in Consumer Spending
Trust Insurance Management approved as Lloyd’s Coverholder
Innovative MasterCard solution minimizes fraud and false
payment declines
Loan Facility arranged for Bahrain Commercial Facilities Company
62 | Telecom:
Batelco Welcomed to World Teleport Association
Customers Alert to Fraudulent Calls
Cloud Productivity Solution for SMEs
VIVA introduces ‘Connected Life’ home Vsolutions
Bahrain’s first Mobile Health device
Scam and spam callers targeted
Zain Bahrain and Capital Club Renew Ties
66 | Real Estate:
Tala Island 60% stake Sold
Strategic partnership heralds good news for Lcustomers
RMK launches new residential tower
SSH awarded Diyar Al Muharraq infrastructure works
Bin Faqeeh launch new luxury project in Bahrain
Fontana Gardens scheduled for Completion
Dragon City partners sign new deal
70 | Technology:
Building Automation & Smart Home Benefits For Real Estate
Highest number of internet users in Bahrain
Microsoft Windows Quietly Announces 7 lifetime
Samsung Safety Screen application protects mobile users eyes
Tool for Amateurs and Experts to design Gear S2
YouTube displays the world at 360 degrees
Next Gen Security Systems
74 | Others:
C&S International partners with Stratford Holding
Alba appoints Bechtel as EPCM for Line 6
Bahrain Cinema Company Opens BD 2 million Cineplex in Riffa
Miles Redemption offer for Gulf Air Falconflyers
What is your relation with fashion and exhibitions?
Land Rover Launches Mobile App for Off-Road Enthusiasts
Lexus Turbo models... experience the thrill
MORE IN THIS ISSUE
50 | Biz Auto
52 | Tender Board Bahrain
78 | Health & Wellness
80 | Tech Expert
82 | Biz Dashboard
84 | Tweets on Biz
86 | Biz Scene
88 | Letters & Comments
6 May 2016

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May 2016
7

PUBLISHER'S NOTE
by AHMED KHALIFA KHALFAN
Lower oil prices in the last year led many in the region, especially those who have
recently invested in a home or office, to wonder about the possible implications for
real estate. The New Year however arrived and the outlook has been surprisingly
positive with the non-oil sector stepping up and the consequent ripple effect
revealing that Bahrain’s retail, commercial and residential property markets have
not just survived but seem in better shape than at any time in recent memory. The
industry is emerging with fabulous projects that seem to defy every prediction. It
seems that in Bahrain the fine balance between supply, demand and price point is
holding pretty steady.
I remember writing about the importance of location some time ago, and I cannot
agree more a year later. In Bahrain, we are blessed with a strategic location that
has kept us at the gateway to the Middle East. That location has shaped our history
and made us a financial capital and a center for cultural and social awakening. It
has also ensured that world-class events like the Bahrain International Airshow,
the Formula One Grand Prix, The Gulf Property Show and many more are a part of
our calendar; events that have reinforced the reputation of a business, tourist and
citizen friendly Bahrain, that is an investor’s dream The success of the recently
concluded Gulf Property Show says its all.
Our issue this time has interviews with leading property developers, architects
and consultants who give credence to this. Bahrain today enjoys acclaim
internationally for its architecture both old and new. Our unique cultural identity,
while encompassing a diversity of ethnicities and denominations makes us what
we are, and nowhere more evident than in our buildings and infrastructure. Some
of the new properties being developed in the Kingdom are truly a testament to this
progressive and out of the box thinking that yet holds traditional values close.
Our Capital Club interviews this issue are with some of the leading lights of the
business world. The business world is indeed full of luminaries, but in this issue
we have people who have travelled long roads and taken giant strides and attained
milestones that not many have. We are proud to bring you their stories and a look
into what makes them what they are.
Before I leave you to enjoy this issue, I want to take a moment here to thank our
contributors for their wonderful articles. I am sure each of you have been enjoying
their efforts. This issue is in fact packed with interesting reading!
On that note, I leave you now. We aim to bring you something special each month.
I hope you will keep writing to us to tell us what you think.
Happy reading!
Ahmed Khalifa Khalfan
Managing Partner & Publisher
8 May 2016
Write to the Publisher: ahmed@bizbahrain.com

May 2016 9

THE TEAM
Adel Al Safar
Chairman
Publishing House
General Manager
Group Editor
Content Manager
Sales Manager
Contributors
Production & Layout
General Manager
Senior Art Designer
Production Manager
Digital Media Manager
Digital Marketing Manager
Video Augmentation
Printed at
In Association With
Ahmed Khalifa Khalfan
Managing Partner & Publisher
Naser Shahrour
naser@bizbahrain.com
Reena Abraham
reena@bizbahrain.com
Sameer Asif Butt
sameer@bizbahrain.com
Amal Hishri
amal@bizbahrain.com
+973 6666 0064 bizbahrain
Ahmed Al Akber - ACK Solutions
Ammar Al Raees, John Taylor, Bassam Kamashki
Anna Romanska, Steve Mayes, Heather Longden, J.Tate
Nigel Rodrigues, Simone Del Nevo, Dr. Rehab kotb,
Mahmood AbdulSamad, George Cherian, Gulfam Hussain
Dr. Alex R. Suchy von Weissenfeld, Ali Al Aradi,
Mohamed Isa
Jay Bhagawati
jay@infotouch.com.bh
Ashjad Azeez
ashjad@infotouch.com.bh
Christy Dinakaran
Jeba Sherin Shyju
Zeyad Al Jirjawi
Dar Akhbar Al Khaleej, Kingdom of Bahrain
Farouk Almoayyed
Honorary Chairman
Ahmed Sabah Al-Saloom
Chairman of the Society
info@bizbahrain.com
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The opinions and views contained in this publication by the journalists, writers and the interviewee are not necessarily those of the publishers. All efforts have been
made to ensure accuracy of the information contained in this publication. However bizbahrain cannot accept legal responsibility for any error or omission.
10 May 2016

www.riffaviews.com
May 2016
11

Feature | Real Estate & Property Development
Showcasing A Dynamic Industry
by Reena Abraham
Even as the GCC markets come to
grips with a prolonged period of
economic challenges predicted for the
year ahead, Bahrain is in a good place
comparatively. Recent studies indicate
that the demand for real estate in 2016
is already stronger than had been
predicted by many market analysts who
had forecast a slump on the back of
declining oil prices.
Continued infrastructure investment,
especially in large-scale infrastructure,
supported by the US$10-billion GCC
aid fund, and the multi-billion-dollar
Bahrain Airport expansion, as well as
the realistic expansion of affordable
government and social housing schemes
further supports and demonstrates
the resilience of the sector. Changes
in government policy have further
helped sustain positivity in an
uncertain market, making way for new
opportunity.
Bahrain's commercial landscape
and the retail and hospitality sectors
appear to have entered a definitely
upbeat phase, albeit slower, underpinned
by improving levels of investor
confidence. The ripple effect of this
improved sentiment has also translated
into more regional and international
investors viewing opportunities here
with a view to re-initiate prospects
that were previously put on hold. With
a respectable growth of seven percent
achieved in the first half of 2015, a
number of new projects were launched
across all real estate asset classes,
notably in the retail, hospitality and
residential sectors. Stalled residential
projects such as Villa Mar, Marina West
and the last stage of Riffa Views have
seen resumption of work. International
retailers are also entering independently
and into the emerging retail projects in
Bahrain such as Dragon City in Diyar Al
Muharraq and the upscale Avenues Mall.
The retail sector continued to
dominate activity, with several
significant openings and new
announcements late last year. Diyar
Al Muharraq, in a joint venture
with Emirati developer Eagle Hills,
announced the launch of Marassi
Galleria in the fourth quarter. The
project is a 178,000-sq-m urban lifestyle
retail and entertainment district with
family plaza and festival waterfront
dining, forming an integral component
of the 875,000-sq-m Marassi Al
Bahrain project. Just prior was the
opening of Dragon City at Diyar Al
Muharraq, which opened its doors
to the public at the end of December
2015. This new project is a unique retail
destination featuring Chinese goods
and establishments with a total of 780
shop units spread over 55,000 sq m. The
5,000-sq-m Al Mercado, anchored by Al
Osra supermarket, is well under way
and a few other retail projects.
12 May 2016

According to the recently published
InterNations Expat Insider Survey 2015,
Bahrain ranked highest of the Gulf
countries for lifestyle, affordable cost
of living and educational facilities, at
17th globally ahead of the UAE, 19th and
Oman, 24th. With such high ratings to
support, opportunities have abounded in
the compound villa sector with strong
occupancy levels in areas popular
with expatriates, especially those with
good access to the Saudi Causeway
and popular schools. Amwaj Islands,
upholding its reputation as a popular
lifestyle destination is emerging from
a static period with an increase in
construction activity in the residential
sector.
The new Investor Protection Law
in Bahrain, which came into force in
January this year, will prohibit main
and sub-developers from promoting any
off-plan sale of property units without
government approval being obtained.
The law also includes substantive
guarantees to protect investors from
improper planning causing completion
delays, fund mismanagement, and force
majeure.
In the kingdom's hospitality sector,
steady progress is being made towards
the launch of two new developments
in 2016. The Rotana Downtown in
central Manama, along with Wyndham
Grand at Bahrain Bay will add a
further 509 rooms to the five-star hotel
stock. Amongst others, the Marriott
Residence Inn at Water Garden City
is also expected to be completed in
2016. Emaar Hospitality Group will
reportedly build five new hotels in
the kingdom by the end of 2018. The
kingdom's commercial office market
continues to face stiff challenges with
downside risks again appearing on the
horizon. According to Business Monitor
International, Bahrain’s traditional
position as the regional centre for
Islamic finance is now facing increasing
competition from Dubai, Doha and
Riyadh, which could lead to further
suppression in demand for office space.
A major attraction for overseas
investors is the low investment and
transactions costs in Bahrain, that
are lower than the neighbouring
countries. This puts its real estate
market in a privileged position offering
high investment yields and capital
growth. Added to all this is the ease of
doing business in Bahrain for property
investors and the country's relatively
low cost of living for both citizens and
expats. The kingdom is considered
one of the most convenient locations
worldwide for expats due to its low
rental and living prices, and its strategic
location. All these factors contributed in
stimulating the market’s activity.
Over the last few years, Bahrain
has been witnessing a number of new
developments such as the $2.5-billion
Bahrain Bay project which lies in the
north of the Kingdom. The real estate
development at the project is being
carried out by a number of prominent
domestic and regional companies like
Bin Faqeeh, and AlQaed Group, whose
Offices@Wyndham project, amongst
others are on track for completion this
year in Bahrain Bay.
High investment yields, high
rental yields, market stability, and
strict framework, were some of the
vital factors that have drawn foreign
investors and companies to Bahrain.
In light of the ample prospects and
the robust economic performance, the
market is projected to witness even
better growth rates in the coming years
which will qualify it to be a real traction
point for real estate investors despite its
small area.
Many world-class events like the
Bahrain International Airshow and the
Formula One Grand Prix, in a calendar
filled with events and milestones,
strengthen the belief in a business,
tourist and citizen friendly Bahrain.
For an investor Bahrain's position as
a gateway to the Middle East and its
history as the region's key financial
capital, a center for cultural renaissance,
and social development add value as do
business friendly laws and governance,
making this one of the most open
economies in the region.
Private Sector Projects Progress Report:
• Diyar al Muharraq’s USD3bn Marassi al Bahrain development will welcome first residents within two years. The project
is developed by Eagle Hills Diyar, a joint venture between UAE-based Eagle Hills. The first phase of the project is
projected to cost USD1.2bn and will include 480 seafront apartments, a shopping complex, and luxury hotels built by
The Address Hotels and Resorts.
• The second phase of Diyar al Muharraq’s Al Bareh seafront development plots are being offered for sale on a freehold
basis to all nationalities
• USD94mn Avenues-Bahrain project, A Kuwait Finance House and Mabanee Real Estate Company funded shopping
complex, located in Bahrain Bay, is expected to open in the first quarter of 2017
• Gulf Finance House has begun the site preparation work at the USD150mn Harbour Row Development, a mixed-use
landmark project located within the Bahrain Financial Harbour area.
• Bin Faqeeh Real Estate Investment Company starting work on its new Layan mixed-use project.
• Funded through a USD266mn grant from the late King Abdulla bin Abdulaziz Al Saud, the King Abdulla Medical City
is expected to break ground by the end of 2016. The project, located in the south of the island, is designed by SaudConsult
and will be operated by the Arabian Gulf University. Phase 1 will include a 300-bed hospital, staff housing, and
mini shopping mall and is expected to begin in 2017. The hospital is expected to open by 2019
May 2016
13

Interview | Ahmed AlQaed Group
Creating
Meaningful
Spaces
14 May 2016

If you ask Ahmed AlQaed, Founder
and Managing Director of the
Ahmed AlQaed Group and doyen of
the real estate development industry
in Bahrain, what makes him tick, he
doesn’t pause, “It’s the passion for
what we do. I am personally involved
at every stage of the developments
we work on and for me, it is complete
dedication, commitment and love for
each of my projects.”
In an animated interview with
bizbahrain, Ahmed AlQaed talks
to Group Editor, Reena Abraham.
Summarizing his philosophy, he says,
“This is my policy - when people are
not working, I work. When people are
not buying, I buy. We always did our
best and we never stopped working.
It was the right decision because the
market always comes back and you
don’t want to be out of it.”
AQG today is one of the most active
integrated real estate developers in
Bahrain, having lined up to their credit
an impressive roster of commercial,
residential, retail, hospitality and
mixed-use properties. As much as for
design, concept and class, it is perhaps
this passion and a certain tenacity
that most define them. AQG is well
known in Bahrain for its resilience and
uncanny ability to ride every storm and
emerge unruffled.
The policy apparently paid off
because AQG has never been out of
work. If you look at a map of Bahrain,
you will find dotted all over the city
properties that bear the company’s
brand imprint - Al Fatteh Towers, Zain
Tower, Viva Tower and many more.
During its history of thirty-five years,
AQG has a proven track record of large,
complex projects always delivered on
schedule and without compromise on
quality. Today with his two sons, Yusuf
and Abdulrahman, an integral part of
the business, the Al Qaed family is all
set to step into new territories and take
on a new direction.
AQG was in the news when they
signed up as one of the earliest
partners of the prestigious Bahrain
Bay Development. It was a challenging
period in the region, but Ahmed AlQaed
was astute, seeing the potential and
the tremendous value of the project to
Bahrain.
“We were looking for a good
location to start a new project. We had
made a decision that now it is time
to be more socially and ecologically
responsible, to do a project that is
good not only for us but for Bahrain
as a whole. We diverted our focus
from projects that would satisfy only
our own objectives, to something that
we can do for Bahrain. It was time to
give back to our country. I considered
Bahrain Bay as a fertile land, where we
can grow and develop things. I thought,
this is the right platform for us.”
“That, I think, was the driving
concept behind the project throughout
the design phases. At every step, we
reminded ourselves that we are not
building for ourselves anymore, but
for Bahrain now. That responsibility
made it a completely different project
because now it had to not only be
unique to Bahrain but should also
compete with other countries to show
what Bahrain can be. Bahrain Bay was
the perfect location we thought, that
had the potential to achieve this.”
Uniquely designed as a twirling
structure, the magnificent Offices
@ the Wyndham Grand rising 50
floors is a landmark at Bahrain Bay.
The twisting counter clockwise
arrangement undoubtedly required
flawless and careful execution that
took more than a year. The Offices
@ the Wyndham Grand houses the
Kingdom’s only Wyndham Grand over
14 floors of the mixed use development,
that combines five star hospitality
with modern corporate office space.
The Wyndham Grand Collection is
a fast growing chain of hotels that
represent one-of-a-kind experiences
in key destinations with refined
accommodation, attentive service and
relaxed surroundings.
The Offices @ the Wyndham
Grand enjoys the strategic location of
Bahrain Bay, making it an ideal spot for
businesses and leisure seekers. Just a
short drive from the airport, it is close
to the business district and important
sites such as the World Trade Centre,
the upcoming Avenues Mall, Bahrain
Financial Harbour, Four Seasons,
Baycity, Waterbay, Arcapita, and Al
Baraka within Bahrain Bay.
The age of a project
is forever - you
see, the market
changes, the
economy changes,
but a building
stays forever.
“As a location when compared to
other locations, I consider Bahrain
Bay the central or main jewel. It is so
well planned, so beautiful that without
being able to help it, all eyes will be on
it. The age of a project is forever – you
see, the market changes, the economy
changes, but a building stays forever.
We were one of the first people to
purchase land at Bahrain bay, and one
of the few who delivered -we stayed,
we continued and we finished the
May 2016
15

Interview | Ahmed AlQaed Group
project. If there is one thing you can
identify us by it is our staying power.
We keep working. We always deliver.”
“When it came to designing
the building, it was a challenging
experience being the first mixeduse
building that would house both
offices and a hotel. Though it has been
done in other places, it was the first
one in Bahrain. We were mixing two
components that are contradictory. A
hotel is a place where we go to usually
to rest and relax. The ambience has
to be relaxing and serene and quiet.
An office on the other hand, is busy
and no one has time. It’s all rush and
stress. Mixing these two different
environments can be interesting we
thought. As an architect and designer
you have to have a separate mindset
when you are looking at the office and
a separate mindset when looking at the
hotel. Designing both together can be
challenging, but we thought Bahrain
deserved that and we had to do it and
deliver it in such a way that it works
well.”
“One over riding theme or idea in
the design that we worked with was
that it had to be timeless so that it will
stay with Bahrain forever. We want
generations to come and look at it and
marvel as something marvelous that
an older generation has achieved. It
has to be a classic and timeless, so
that in 40 or 50 years, it will still be an
iconic building. Time is the only test!”
“Being ecologically conscious,
we implemented a smart technology,
where all the curtains, the air
conditioning, lighting and other
devices are triggered by sensors in
order to save energy. We worked with
more than 35 international consultants
for each part of this project because we
wanted to do it right.”
Ahmed Alqaed
Managing Director, Ahmed AlQaed Group
Situated on a waterfront location
within Bahrain Bay, the Offices @
the Wyndham Grand rises from an
octagonal floor plate, twisting counter
clockwise and boasting uninterrupted
360 degree views of the bay and the
corniche. With the external façade
complete, the Tower underwent
16 May 2016

Interview | Ahmed AlQaed Group
extensive internal fit out works to be
equipped with sophisticated modern
facilities for corporate requirements.
The gorgeous landscaping works
around the building add to the image of
luxury and oneness with the elements.
The 50-storey mixed use building
is truly a vertical city, allowing the
visitor to perfectly and seamlessly
move in a single journey. The 14 floors
of the Wyndham will also comprise
500 square metres (nearly 5,400
square feet) of meeting space and a
900-square-metre ballroom (equivalent
to nearly 9,700 square feet) on the
building’s top floor, offering stunning
sea views. Complemented by indoor
and outdoor infinity swimming pools
and separate health clubs for men
and women, the development will also
include five food and beverage outlets
catering to a variety of tastes.
Ahmed AlQaed is earnest as he
explains. “The Concept is different
because we had a different strategy
and agenda. We didn’t want anything
ordinary, in terms of its structure,
interior and appearance, it was
challenging. At the same time, we had
to respect what the people using the
building would experience. Because
of the high expectations we have set,
when you look at the building from
outside, you know there is something
extraordinary happening inside. So
that by itself is a challenge. Not to
disappoint people once they enter the
building!
“We wanted a story behind it. It had
to reflect what the objective was and
that was something about Bahrain, a
story about Bahrain. It was important
to give a memory to someone visiting
the hotel so he would leave it and
remember it not only as an interesting
tower, and a nice hotel, but he would
remember the experience because it
communicated the story of Bahrain.”
The concept that evolved was
around the theme of Dilmun. Taking a
simple Dilmun seal with its swirling
cylindrical pattern, the twisted design
for the Tower evolved. The same theme
was implemented all through the
building in the interiors, the lobbies.
We tried to create an ambience that is
hushed, muted and tranquil drawing
the visitor back into an era gone by.
In 2015, AQG began work on a new
project, once again ambitious and
visionary. Inspired by the ancient and
iconic Babylonian garden, The Hanging
Gardens of Dilmunia are a state of the
art dream development that combines
history with modern convenience and
luxury. Situated in the North East of
Muharraq the project is envioned as
lush green paradise with stunning
apartments and penthouses, and
retail stores and restaurants making a
vibrant new destination.
The name Dilmunia is inspired
by the ancient civilization of Dilmun,
which is believed to be the original
Garden of Eden. The 'Hanging Gardens
Of Dilmunia', celebrate the ancient
civilisation of Dilmun by incorporating
gardens. The terraced gardens
provided around the podium structure
of the building are inspired by the
Garden of Eden and offer residents and
visitors not only a tranquil place to live,
but also a unique visual experience of
lush greenery to enjoy while they are at
the development.
One overriding
theme or idea in
the design that
we worked with
was that it had
to be timeless so
that it will stay
with Bahrain
forever.
The overall composition of the
Hanging Gardens Of Dilmunia is kept
very mature, simple and elegant,
integrating indoor and outdoor areas
seamlessly with great views of the
Grand Canal, tranquil landscaped
gardens and the Sea. The Apartment
buildings are minimal, like sails filled
with wind and the subtle curve reflects
movement to these still buildings.
The light detailing of the Apartment
buildings, which stand as a backdrop
to the lush terraced gardens around the
podium area, when viewed from the
Grand Canal side, adds to the serenity,
functionality, flexibility and efficiency
achieved in the design.
“We wanted to come up with a new
concept and a different dimension
of a lifestyle. We approached our
international architects, WKK, and
gave them the idea of the hanging
gardens. We wanted to reflect the
civilizations of Dilmun and Babylon or
Mesopotamia, working together. In our
discussions we talked about historical
facts and myths associated with it.
We had heard about the story about
Babylon in those times and the search
for the gardens of Eden, which they say
was in reality Dilmun.”
“In terms of pricing, we price from
a financial responsibility point of view.
It has to be a good investment so that if
anyone wants to invest it, sell it, or stay
in it- it is all possible. Our properties
are for everyone in the sense that
the pricing is responsible, the value
is protected, there is reliable quality
and good location. We make sure that
whatever we make, there is a demand
and financial sense behind it. That
is our responsibility to our customer.
We build relationships with brands
and they go through a very intensive
vetting process before we select them.
Once we are happy with them, we stay
with them. We use only the best and
you will find the products we use in
upscale 5 star hotels around the world.“
Ultimately, for the ALQaed family
it’s all about legacy, about relationships
and about giving back. Confidence in
yourself and your work has to translate
to a larger and broader responsibility.
As Ahmed AlQaed succinctly says it,
“We always go the full distance.”
May 2016
17

Interview | Riffa Views
Riffa Views, Bahrain’s first masterplanned
golf residential community
is a thriving community of 1,056
villas set around an 18-hole signature
championship golf course designed by
Colin Montgomery. At the beginning
of the year, Riffa Views announced the
start of construction work to complete
the building of 61 villas at the Riffa
Views’ Parks Estate, paving the way for
the completion of the last 20 percent of
the development. Riffa Views Managing
Director, Yasser Abdulrahman Al
Raee briefs bizbahrain about the new
developments.
The recent announcement to complete
the construction of the Parks Estate
villas has been widely welcomed by real
estate development circles in Bahrain.
What are your plans to complete the
phases of the project?
As you know, a consensual deal
was reached between the company, the
National Bank of Bahrain (NBB) and the
creditors last year, to sign the action
plan for the completion of the last phase
of the Riffa Views Project. Then, all
the construction contracts to build the
remaining villas of the Parks Estate were
signed, and the remaining 212 villas, or
20% of the project for which estates and
facilities have been completed over the
past year, were put up for sale.
The construction works started
early December 2015, and are expected
to continue for 24 months. Three
companies were assigned with the
construction works to fast-track the
building process and ensure completion
with the pre-set schedule. Poullaides
Construction Company will complete
the construction of 61 villas, while the
Projects Construction Company will
build 78 villas. The completion of the
remaining 73 villas was assigned to the
Cyprus Cybarco Tabet JV. Meanwhile,
Adel Ahmadi Associates Company was
named the engineering consultant to
supervise the construction process.
With the improved pace of the
construction process, the interest of
investors has grown; this is evidenced by
an increase in queries for information on
the project. More importantly, a number
of the current Riffa Views’ owners have
shown interest in purchasing another
properties as an extension for the family,
or for future investment.
How would you describe the Parks
Estate?
Parks Estate is a distinguished
area within Riffa Views that provides a
Mediterranean-style lifestyle. It features
spacious gardens, green corridors,
roadsides that are planted with trees
and distinctive houses that reflect the
stunning sun’s rays in colours that are
derived from those of the earth and the
glowing gardens that revive it.
While designing Parks Estate, we
carefully preserved all the elements
that highlight the rich Mediterranean
lifestyle, which is clearly exhibited in
the architecture of the housing units
and villas. Parks Estate offers a range of
villas of different sizes from two to six
bedrooms each.
What distinguishes Riffa Views from
other real estate projects in Bahrain?
Riffa Views has several distinctive
features that make it an ideal choice.
Views overlook the tranquil landscape
and green spaces spreading across the
three estates –the Oasis, the Lagoon and
the Parks, in addition to the picturesque
environment and golf course, The
latter has earned its title as the most
distinguished golf residence in the
region, rightfully so, as collectively they
all merge together in perfect harmony.
Riffa Views is the only residential
complex in the Kingdom of Bahrain
that is surrounded by a world-standard
golf course. It is a complex that not only
provides a magnificent lifestyle, but
On Track
to Fulfill the
Promise
Yasser Abdulrahman Al Raee
Managing Director, Riffa Views
also ensures that all requirements for
living in a thriving suburban area are
covered through the provision of all the
basic amenities of modern life. These
include the Royal Golf Club with its
18-hole course, designed according to
World Championships standards and the
Country Club, which includes a health
club, a swimming pool and a number of
restaurants.
In addition there are public gardens
with safe playgrounds for children,
multi-use playgrounds with open
green spaces where many sports,
such as tennis and football, can be
practiced. There are the tennis and
18 May 2016

Interview | Riffa Views
football academies, Riffa Palms Mall,
mosques, and recently the Riffa Views
International School, which is a leader
in providing world-standard education.
Together these make Riffa Views a
unique and distinguished complex.
Given the fact that the Riffa Views
is among the first luxury real estate
projects in Bahrain, how has the
property development market and sector
changed since its establishment?
The Riffa Views project is the
first of its kind in Bahrain regarding
the provision of green spaces and
playgrounds, wonderful panoramic
views of the golf courses, as well its
strategic location - easily accessed
from all parts of Bahrain. I think that
the Riffa Views project has brought
about a quantum leap within the series
of real estate development projects in
the kingdom. Since its establishment,
many property development
companies have visited the Riffa Views
Project to get first-hand information
about its elements and unique
features. This has raised the bar for
the real estate development market
as the level of luxury, quality of work
and construction of other property
development projects need to aim to
match those of Riffa Views.
With regard to the situation of the
real estate and property development
sector in the Kingdom of Bahrain,
it is undoubtedly considered one of
the main sectors in the economic
development process of the country,
and this is reflected in the government’s
keen interest to develop it.
The real estate market is
considered the best in the region, as
it is growing steadily. Investors are
increasingly interested in it thanks
to the success rates it provides, all
of which enhance the investors’
confidence and increase the chances
of success for real estate projects.
May 2016
19

Interview | Riffa Views
Demand in the real estate market
may decline from time to time, but from
a general perspective, we find that it
is on the rise. The temporary decline
is caused by fears linked to external
factors and Bahrain is one of the least
affected by such fluctuations.
In your opinion what are some of the
problems that the real estate industry in
the region, and particularly faces today?
The problems facing the real estate
sector are similar in most countries.
They are related to changes in oil
prices, capital markets, shortage of
liquidity and global economic and
political conditions. In spite of that, the
real estate projects are expanding and
prospering.
The temporary
decline is caused
by fears linked to
external factors
and Bahrain is
one of the least
affected by such
fluctuations
The effects of political and
economic crises in many countries
are among the biggest challenges that
obstruct the march of the real estate
sector. However, these effects vary
from one country to another. The real
estate market in Bahrain is usually not
affected by crises that may occur in
the region thanks to its geographical
size when compared to other countries
in the region. Unlike Bahrain, the real
estate markets in some countries are
quickly affected by instability and
political or economic crises.
Now, the problems facing the stalled
projects are being solved thanks to
the efforts exerted by the Ministerial
Committee for Urbanisation and
Infrastructure, which has succeeded in
putting many real estate projects back
on track.
However, I think that there is a
need to attract foreign capital into the
kingdom in order to push the economic
development process forward. At the
same time, all laws and legislation that
guarantee the rights of all real estate
development projects’ parties should
be put in place in order to contribute to
increasing the economic growth rate,
and strengthening the local economy.
What opportunities can real estate
projects, such as the Riffa Views,
provide for tourism in Bahrain?
It is commonly agreed that real
estate projects are the main engines
of economic, human, tourism and
cultural development in all countries,
and Bahrain is no exception. Indeed,
the success of tourism relies heavily
on making Bahrain a perfect country
to live in, in the region in terms of its
small size, strategic location and low
cost of living. In this way, the kingdom
is slated to become an ideal choice for
a second residence for many GCC and
foreign tourists alike.
In Riffa Views, a number of GCC
and foreign families take Bahrain as a
second residence, and they own several
properties in Riffa Views. They have
chosen Riffa Views because they have
found all the requirements of a modern
lifestyle and a green environment in
one place.
There are also families that own
houses in a number of other real estate
projects in Bahrain. I strongly believe
that the development and progress of
tourism in Bahrain depends primarily
on real estate projects. Wherever these
projects serve varied needs in terms of
housing, recreational services, cultural
and trade potential, tourism will
flourish.
Riffa Views is generally perceived as
a success story where the developers
and management have stayed closely
aligned to the residents needs. How
have you achieved that?
It is an experience we live every
day, and it is wonderful. I can say for
sure that the Owners’ Association has
contributed significantly to developing
this project and maintaining the
elements of its success. I was among
those who supported the establishment
of the Owners’ Association so that
owners participate in the management
of their residential complex. Today,
they are doing great work that serves
the aspirations of their community.
This Owners’ Association is a
value-added body in Riffa Views,
and it is crucial for ensuring the
sustainability of the project's services,
and maintaining their quality, as it is
in charge of local administrative and
maintenance tasks
Despite the novelty of the
experience not only in the Riffa Views
project, but also in the real estate
sector in particular and in Bahraini
society as a whole, we believe that the
Owners’ Association should develop
quickly. It is the voice of the owners
and the means of their interaction
with members of their community,
and we are sure that one day it will
be in charge of all administrative and
service matters at the Riffa Views
residential complex.
What are your plans after the
completion of the Parks Estate villas
and the project as a whole?
The completion of the Parks Estate
does not mean the end of the Riffa Views
project. On the contrary, it will augur a
new phase based on sustainability and
efforts to maintain the well-being and
modern life of owners and residents.
As a first step, we established the Riffa
Views Real Estate Company, which is
in charge of the management of the
community. It meets the needs of the
owners and residents, maintains the
quality of services provided to them,
determines and collects the charges
on the services, under the direct
supervision of the elected Owners’
Association. The ownership of this
company will be transferred to the
Owners’ Association in the future, in
accordance with the prospective law,
which is in its final stages.
20 May 2016

May 2016
21

Interview | Arab Architects
Mohamed Araiqat
Arab Architects
Designing Architectural
Masterpieces
Working with some of the most
prestigious developers and
renowned names across a spectrum of
sectors, the father-son duo, Mazen and
Mohamed Araiqat of Arab Architects have
been making waves in Bahrain with their
spectacular projects. Established in 2005
by Mazen Araiqat, the firm has been the
mastermind behind many of the buildings
that Bahrain is known for internationally.
Arab Architects are proud that as a local
architectural and engineering consultancy
many leading developers turn to them.
The firm holds an impressive portfolio of
landmark projects in which their role runs
the whole gamut of activities from cost
estimation, analysis and scheduling to the
structural, electric and electromechanical
aspects of the design.
Mohamed Araiqat talks to bizbahrain
about the joys and challenges of the
industry, and the design philosophy that
treats each project as an aesthetically
unique, distinctive and individual work
of art.
How did Arab Architects, the firm come
about? What was the idea and the vision?
After retiring from his career as a
Colonel in the Bahrain Defense force
in 2004, my father Mazen Araiqat, laid
the foundation of Arab Architects. As
Founder and Managing Director, his vision
was to provide innovative architectural
and engineering designs to the growing
building industry in the Island. Starting
with a mere few staff and projects, the firm
grew and we now take pride to be known
as one among the leading Architectural
and Engineering Consultancy firms in
Bahrain. Our motto is to provide the client
with the best feasible solutions for his
high valued land, without sacrificing the
aesthetical & functional demand.
Do you draw inspiration from the
architectural heritage of Bahrain for your
projects?
We see the recent uprising of many
fundamentalist and art movements in
an attempt to safeguard the architectural
heritage of the region. Arab Architects
through its design has emphasized the
importance of preserving the beauty
of our heritage and culture. Though we
adopt modern technologies for better
and comfortable living standards, we do
keep in line with traditional architectural
features and percepts in our design. For
example, I like to refer to one of our recent
project which is under construction -
Compound Villas in Janabiya, where
the use of architectural elements like
22 May 2016

Interview | Arab Architects
Mashrabias, Arches, and Wooden struts,
etc. give the effect of a balanced design,
blending the traditional with the modern.
When you say you are a ‘bespoke
architectural and engineering consultancy
firm’ what do you mean?
We feel dignified to term ourselves as
that way as we distinguish ourselves as a
firm originated for the satisfaction of the
client. We always look ahead to give the
best of our services to the client taking
into consideration his requirements,
financial planning, and satisfactory end
users. Bin Faqeeh Real Estate Investment
Company is one of our main clients, since
the past six years. We really feel gratified
to render our sincere services to them. We
also have many other excellent clients.
Indeed, we highly esteem our clients.
How do you work in a tough market
with all its pressure and challenges and
continue to create thoughtful, meaningful
architecture?
A team of very professional architects
and engineers has enabled Arab
Architects to withstand the challenge in a
tough market. Excellent team work, proper
time scheduling, and wise planning during
execution of the project all contribute to
the success
All our designed buildings have our
signature identity, Simple, clear defined
shapes, very functional and comfortable
layout of interiors. Aesthetically appealing
exterior and wise blending of colors, all
add up to the elegance of our building.
Tell us about some of the major projects
that you have worked on.
We are very grateful to the people who
have placed their trust in us. We have
worked as consultants with many valued
developers in Bahrain, and from Kuwait
and KSA, and other countries. Their work
and aesthetic ethic has matched ours and
we have been proud to be part of their
projects.
Fontana gardens- Juffair is a cluster
of three high rise tower rising from a
common podium. The Podium comprise
of ample parking and a swimming pool
which is on an area of 5785.0 sq.m. A lush
green landscaped surrounding the pool
and deck garden gives the tenant to be
close to nature though it’s a sky scaper.
Arab open university-Aali is an example
of well-designed educational building.
Organized layout of functional spaces,
appealing interior and proper color
blends, all gives the user a pleasing
educational environment. Huge arches
and wooden struts in the exterior
gives the combination of modern and
traditional architecture.
The Forbes Tower, one of the highest
commercial offices building with
a diamond on Top to be seen from
everywhere.
The Breaker Tower, the highest precast
residential building in the world.
Recently two of your projects have been
very much in the news - the Waterbay
and Layan Projects. Tell us about that.
We were honoured to be the
consultants to these two projects, which
were standouts not only in the Kingdom
of Bahrain but also in the region. Bin
Faqeeh Real Estate Investment Company
paid us the ultimate compliment by
choosing us as the consultants for these
projects.
We have been associated with Bin
Faqeeh sinch 2009, and we value them so
greatly. They think big, they don’t think
for today or even tomorrow, but they
strategise for a decade or even more. We
have treated each of their projects like
our own, with the same passion, focus
and dedication, and I think that has been
the basis of the trust.
The two Bin Faqeeh projects
you mentioned are both special and
exceptional, and were built with a vision.
For Waterbay, it was a challenge to design
and build it in such a way that all the
apartments overlook the waters of the
ocean or the canal. For Layan, the client
wanted something unique and different
that has not been done in the region.
Our work on this project was inspired
by the great visionary architect Zaha
Hadid. Indeed it is such an honour for
me personally as a local consultant to do
something that will represent her spirit
and talent here in Bahrain.
What are your thoughts about the property
development and real estate industry in
Bahrain?
There is indeed a strong growth of real
estate industry in the island. In fact there
is a great challenge for the developers to
find suitable consultant who can cater
the demand of his property to the best
of his investment. With the support of
the government, the industry is growing
fast and we can see that there are a lot of
investors coming from abroad to invest in
the kingdom. Good support and favorable
financial backing by the Government
also paved the way for the growth of the
industry.
Are you concerned about environmental
and social sustainability in your
buildings? What do you want to be
remembered for?
Definitely as the temperature of
the globe is increasing yearly, there is a
greater demand of green building. In all
our high rise buildings we implement
the latest technologies which provide
energy efficient working system. Also in
designing stage emphasis is given to the
geographical layout of the land to make
best use of the climatic situations.
We want to be remembered as a firm
who are capable of satisfying their clients
100 percent, in line with the traditions and
rich heritage of this beautiful Island.
What lies ahead for Arab Architects?
Soon we will be announcing
our alliance with one of the Top Ten
architectural firms in the world. This is
to increase our capability and strength
and compete with the best in the world. I
cannot disclose the name as yet but soon
it will be announced. We are working on
rebranding the company and along with
that a restructruing. We are also working
on getting our company ISO certified.
Ultimately though, we follow my
father’s advice that it is the satisfaction
that matters. Our clients become our
friends and we work with their projects
with a passion and dedication like it
is our own. More than the business,
relationships and trust matter for us.
May 2016
23

Interview | Faisal Jawad
Faisal Jawad
Chairman & CEO
24 May 2016

Interview | Faisal Jawad
The Art of Running a
Multi Faceted Business
Faisal Jawad, Chairman and CEO
of the Jawad Business Group, is a
well-known figure not just in Bahrain,
but also in the region. No surprises there,
for the Group he heads operates over 500
stores spanning restaurants, fashion,
food retail, supermarkets and a whole lot
more in Bahrain and the GCC.
“Jawad is because of what Bahrain is. If
it wasn’t for Bahrain, Jawad would not
be what it is today,” says Faisal Jawad.
Through the windows of the Capital
Club’s beautiful Jade Room a panoramic
vista of Bahrain is in gorgeous display;
a perfect setting for a distinguished
Governor of the Board of Capital Club
as he sits down for an interview with
bizbahrain Publisher and CEO, Ahmed
Khalfan and Group Editor,
Reena Abraham.
“I remember it was 2008. I don’t
know who mentioned my name to Guy
Guillemard, the founder, but he came to
my office and told me about the concept
and the idea behind the Capital Club.
Without missing a beat, I said, ‘Give me
a paper right now and I’ll sign it.’ There
were no two ways or second thoughts
needed about it. He said, ‘Hold on, we are
not ready yet!’ In an hour after he left, I
sent him my written approval.
“The idea was so good it didn’t need
any deliberation. I don’t come here to
make deals. I come to participate, to join
in, to entertain and to support. If they
need my support I am here. The Capital
Club has been good for Bahrain and good
for the business community.
We have a place that we can show
people. Many of my initial meetings with
VIP guests visiting Bahrain is right here.
I bring them at night and I show them
the lights and the magnificent view of
Bahrain, and I feel so proud.”
It has been a journey of over five
decades for the Jawad family, a journey
which has led to the formation of a
multi faceted business conglomerate
with a trail of memorable milestones
and achievements. At first reluctant to
talk about the amazing trajectory of the
company which he says has been said
too many times, Faisal is philosophic as
he recalls the journey.
“You go and buy a small plant, and
you nurture it and soon it fills the pot.
Some time during the lifetime of that
plant, you have a choice - either you
leave it in that pot so your plant will
stay as it is for eternity or you put it in a
bigger pot and let it grow. I think for us,
the growth happened organically. We
started with one element of fashion, and
the focus at that time was one location,
and that’s all. So you go along on your
journey, and there comes a new brand.
This new brand is not a one-location
brand, so you either leave it in the pot
and it will die or maybe it will still grow
a little within that pot. But then the
brand owners come up and say, 'Thank
you but we have other aspirations. We
want to be in Dubai, Abu Dhabi and
Kuwait, and we want to be in Saudi,
Oman, Qatar.' Unless you are a player
who will take on challenges and allow
growth, there are other people who are
ready to play.”
Perhaps it was in the genes, this
propensity for business. The Jawads
are today one of Bahrain’s best-known
business families. From the cream in
your coffee, or the chocolate you relish,
to the dress you choose to wear, or the
car you rent at the airport, to the fastfood
restaurant you might visit or the
quick cuppa you pick up at the mall,
chances are you will have some contact
with a Jawad franchise or outlet during
the course of your day. The decision
to focus on several huge businesses at
once, including supermarkets, fashion
and restaurants was itself a bold one.
How do those three things work together
or is each one dealt as a separate
business?
“I used to save the stones of dates
when I was a young boy, thinking that
I can grow date palms, but then I was
told that palm trees grown from those
stones are not good. You have to have
‘faseela’, which to translate literally are
the children of the palm tree. The ones
that spring up from the side. Those it
seems are really the ones that we should
be looking after.
“If I implement the same thing in
what we have done, I can say that we
needed to take the ‘faseelas’ out of this
brand. So we grow and establish in
Bahrain, and then we bring one to Dubai
because at that time Dubai had just one
mall, but then the second good mall
came, and the third, and then the largest
mall in the world came.
“Our growth, in some ways, was
a process of the brands themselves
May 2016
25

Interview | Faisal Jawad
growing, which really meant that we
move with the brand and grow it. In every
growth, in every single store you open
there is a huge element of risk - financial
risk, rent risk, staff risk. We took that risk
and it worked, and this is how we grow.
“With our wholesale food division,
outside Bahrain we took on only Qatar
because 20 years ago it was still a green
field. We grew with the country. UAE
and Saudi Arabia were already matured
and there was no point in going and
competing against existing giants.”
Faisal has played a key role
in the geographical and business
diversification of the Group from a
Bahrain only food business to a pan
Gulf business with interests in food,
fashion, home, food and beverage, coffee
shops, car rentals, money exchange and
logistics. The Group prides itself on its
Quality and Trust ethos, providing top
class service to the millions of customers
which it serves through its businesses.
"My father created the company
in1960 with my elder brother Ali. Abbas
joined them as a young boy 55 years ago,
and today he is the Deputy Chairman. Of
course I came much later but together we
created the company. Many of the things
we did, we really were not experts in.
We knew nothing about burgers or about
pizzas or about clothes, but in every
field that we entered, we used experts
who knew what to do. Our divisions are
headed by people who are at the top of
their field, be it restaurants or fashion
and so forth.
“We were like facilitators growing
businesses and they all grew enormously,
from the time we took them over to
where they are today. As owners we
support the people who know everything
in order to grow that business.”
The Jawad Group has no ‘no-go’ areas
according to Faisal Jawad. If you look at
the history of their business, one thing
led almost inevitably to the next. It was
literally a series of stumbles he says.
“Because we were in food, we stumbled
upon burgers, and restaurants, then we
stumbled upon fashion, and then upon
money changing, and car rentals and so
it went on. When I say stumble I mean,
there was a stone and we tripped and
then we saw it.
“If we are presented with a new
business, then we would look and say,
let’s understand the business model. If
we can make that business model work,
then lets hire the right people.”
Jawad is because
of what Bahrain is.
If it wasn’t for
Bahrain, Jawad
would not be what
it is today.
Talking about some of the major
global trends that businesses such as
theirs should be looking at he says, “One
of the biggest challenges now is that the
pace and changes in fashion are very
fast. Fashion had a long life 30 years ago;
changes happened once a season. That
changed when the Spanish innovated
with new brands. In Europe and America,
they were used to a slow pace. Designers
in the UK or United States would take
their time to think and put concepts
together, sending these elements to
the Far East manufacturers to make
mockups. Once the mockup came to the
UK, they created a story, and decided the
colours and so on. So it was a story, or a
painting that took a whole year.
“The Spanish threw that out of the
window! They sent their designers and
merchandisers to New York and Paris
to look at what the top brands are doing.
Within 4 weeks, that good looking piece
that cost US$10,000 is available for
US$200 in the market.
That was 10 years ago, now you
multiply that by 10 and that is the pace
of change. In the region today, one of
the biggest business downturns is
in fashion. It is the biggest casualty,
because the pace is so fast. And then you
have the internet. Through the Internet
you can buy what you want, and with a
return policy that’s so great.”
So what lies ahead for the group?
“We are a family business, and there
are all kinds of elements and thoughts
within that, and exposure to brands on
an almost daily basis. Somebody travels
somewhere, he looks at a brand and
a discussion follows. But the brand is
still young and it hasn’t become a tree
yet where it is, so we say, okay, we are
going to give it a miss. Let it grow where
it is and let’s see what we can do with
it a year from now. So we are looking at
new brands on a daily basis. It’s a daily
journey for us, we are seekers, we seek
brands, we seek things.”
“Our team would rather concentrate
what they can do big, so we have certain
brands with 140 stores. We are growing
the brand by 10 or 20 stores a year. We
don’t bring in new brands that will kill
existing brands. Whatever we bring in,
we make sure it is also doesn’t affect
what we have already with us.”
“When you are an owner, you look
at all the other elements, not because
you are asked to, but because you feel
that you cannot close your eyes. The
only way for the younger generations
from the family to benefit is to stay and
work in the organization longer. They
have to be there as part of the team.
Look, listen , watch, and I tell them, don’t
talk too much, take it all in, absorb and
observe. Then slowly you will get it,
because running a family business is not
necessarily like running a department,
it’s a whole different thing.”
Coming back full circle as the
interview draws to a close, he says,
“Investing in Bahrain is not only by
opening a shop or doing a business,
investment also means investing in
things like the Capital Club which benefit
Bahrain. When I bring the chairman of a
company from Germany, China or Korea
here, I feel so proud that this is us. I feel
at home.
“We are a part of the story that was
Bahrain. We grew with this country and
now we are part of this modern journey,
we are part of the fabric.”
26 May 2016

May 2016 27

Interview | Kamal Tabaja
Feature
In the
Business of
Continuity
The obscure business of Reinsurance
has always been a gold mine for
industry experts, with well known
figures like Warren Buffet a prime
example of someone who understands
its intricacies. Reinsurers assume other
insurance companies’ risk, working
profits off the additional challenges
that they absorb. With a host of new
competitors seeking higher-yielding
alternatives to conventional bond
holdings, new strategies like pension
funds and others have now entered the
fray.
Kamal Tabaja
COO, Trust Re
28 May 2016
Trust Re, coming under the
regulatory wing of the Central Bank
of Bahrain is a locally incorporated
Reinsurance firm, extending across
Middle East, Africa, Asia, CEE, SEE,
Russia and CIS countries. The company
provides Reinsurance protection
to many leading direct insurance
companies in the form of annual treaties
on proportional and non-proportional
basis with a sizable underwriting
capacity.

Interview | Kamal Tabaja
COO Kamal Tabaja, veteran of the
industry is a well-known name in
Bahrain and the region. Beginning his
career as a Systems and Computer
Engineer and a fellow of the Chartered
Insurance Institute (FCII) UK, he has
worked in the Insurance & Reinsurance
industry for well over a decade.
Kamal’s tenure at Trust Re began in
2002 in the Treaty Department and
passing through various, progressively
senior underwriting positions he was
appointed COO in December 2014.
In the comfortable premises of the
Capital Club, Kamal Tabaja talks to
Ahmed Khalfan, CEO and Publisher of
bizbahrain. In the ambience that can
relax even the most stressed executive,
he is full of praise for the little luxuries
the Club has to offer.
“It’s a good environment to sit down
and have a business related discussion
while also enjoying the time… it has very
good value. I have other memberships
but there is a big difference when it
comes to the Capital Club.”
Talking about the company that he
joined almost fifteen years ago Kamal
says, “We take pride that Trust Re was
established in Bahrain in 1989. Bahrain
is one of the leading markets when it
comes to Insurance and Reinsurance
and is a pioneer in the GCC region.
Trust Re is privately owned by Nest
Investments, which is owned by the
AbuNahl family, who are specialists
in the business. We, as well as our
partners value that, because we have a
family that understands the business.
They are not only a capital provider but
they have a passion for the business
and want to develop it. Our vision is to
become the reinsurer of choice not only
in this region, but globally.”
How are you positioning the company to
take advantage of opportunities?
As with any financial company, or
even any business or industry that we
operate in, there are factors that any
company has to examine to actually
reach the intended vision and goals.
The first factor to keep in mind is that
we are a financial company, so we need
Bahrain is one
of the leading
markets, when
it comes to
insurance and
reinsurance, and
is a pioneer in the
GCC region.
to ensure financial security for our
clients. They need to believe that we
are able to pay their claims and to carry
the liabilities we have on our balance
sheets. They need to be sure that we
are going to honour our commitments,
not just now, but also in the future since
we are in the business of continuity.
Insurance is not an opportunistic
business; it is a business driven by
relationships, by trust and by client
service.
When I joined the Trust Re in 2002
we had a capital of USD15 million and
today we have a capital of USD200
million. S&P and A.M. Best, two top
rating agencies in the global economy
have rated us A- in terms of issue credit
rating and in terms of financial security
we are A++ rated. This is the highest
rating that they could give us for our
ability to honour our liability.
We have invested a lot in human
capital which is very important for the
future. A lot of companies have financial
security, but only some of them have
the proper human capital to provide the
client with the service and solutions
in a sustained long term evolution;
your competitive advantage is indeed
bench marked against human capital.
2002 is when we started investing in
the younger generation; if you look
at our current Executives and Senior
Management, most of them are young
and started in the company over the
past 15 years and are growing with the
company.
Trust Re invests heavily in
training; partly through BIBF (which
has contributed a lot to the insurance
industry in Bahrain), training abroad
with other industry partners, specialty
and leadership management, as well
creativity and innovation workshops.
We provide exposure to our trainees
through travel adapting to culture in
China or Africa or to the CIS countries
like Turkmenistan, Azerbaijan,
Kazakhstan, and so on.
The combination provides us with a
competent workforce that is able to look
at things from a different perspective -
not only from a Middle East perspective.
When they see a risk they are able to
say, “hold on a second, we dealt with this
type of business in Kazakhstan albeit
in a different way… maybe we can apply
it here.” In insurance you can exchange
these types of solutions in different
regions and in different countries.
Internally if you compare us to
our peers in the market, we face less
challenges since we have very good
human capital and proper succession
planning in the organization. We are
not overly concerned in terms of losing
expertise or people as we have dynamic
sustainability and flexibility. If we look
at what our real challenges are now; it is
the social economic environment that
we are currently operating in.
Trust Re is a large energy
underwriter which focuses on the oil
& gas and power industry. A part of
that has been affected but we still have
a good and fixated market share. We
started diversification 3 or 4 years back
and that has put us in a good position;
we have grown horizontally. We started
other lines of business, entered new
territories all of which gives us a bigger
landscape to source business and to
lower the effect of underperforming
segments or territories on the overall
company performance.
What are your comments in terms of
regulatory compliance, geographical
reach and risk management of your
organization?
The reason why Trust Re was set up
in Bahrain is because of its regulatory
compliance. We still believe Bahrain
has one of the best regulators in the
May 2016
29

Interview | Kamal Tabaja
The vision is
to become the
reinsurer of
choice not only
in this region, but
globally.
region. They understand our business
and are open to discussions, they
understand why we need to do things
and they give the freedom to insurance
companies on how to run their business.
The regulators job is to make sure that
companies are compliant with the
legal framework and requirements
of the country. The regulator needs
to intervene to make sure that the
insurance sector or any financial sector
does not risk failure.
In Bahrain the regulators are
proactive; they look at what’s happening
in the market and whether they need
to intervene or not. There is obviously
a slowing down of economic growth
recently, but things eventually will
pick up and we don’t see that as an
issue. There is room to develop new
things in the market and that has to
come as an arrangement between the
regulators, the other ministries and
the insurance companies by looking at
what are the current challenges facing
the underlying drivers for the economy.
People and investors need further
confidence to invest - that’s what the
insurance industry is really here for… we
provide security.
Insurance is similar to a social fund
designed for people to support each
other. Going back to the Phoenicians,
Silk Road or to the time of Prophet
Mohammad this was common practice.
When people and caravans carried their
merchandise; all the merchants were to
contribute. If somebody’s merchandise
was stolen, the rest would pay for them…
that is what insurance is and how it
helped world trade and economies.
We need to find where insurance can
support other industries for Bahrain to
develop; the regulator can have a very
supportive role in this process.
How would you define enterprise
resilience and how relevant is it to your
company?
This topic is a very vast topic on a
macro level and how it applies not to
just insurance or finance. Enterprise
resilience is how you are able to deal
with things, still grow and survive when
you have uncertainty in the market and
uncertainty in the sources that drive
your business.
We have to look at different factors
like human capital. If that is not
adaptive to changes (because they
are not able to innovate and look at
alternate ways of finding solutions
when there is uncertainty in the market)
then you have an issue… because when
things are good - everyone is happy. It
is how you have proactively worked and
identified your risks within and outside
the organization and have set in place
proper controls, protections and values
to guard against any issues that come
into play during challenging times.
We still believe
Bahrain has
one of the best
regulators in the
region.
That is the opposite for Trust Re in 2015
as they have increased profit, isn’t it?
It is how you foresee the future.
Insurance is underwriting the future,
we have to understand our future risks
and in Trust Re this what we have been
very successful at. Ever since 2007
and especially since Mr. Fadi AbuNahl
took over as CEO, there has been good
direction and vision on how and where
we want to be; not in the next 5 years,
nor 10 years… but in the next 25 years
and this is what we work for. When
things were good, we worked very
hard to make sure that we have a good
market place, a good market share and
were positioned in products where we
can have leverage, so that when things
are not good, we still have that leverage.
We positioned ourselves as leaders in
the market, not as followers.
When you become a leader, people
depend on you. So despite all the issues
that have happened we are still growing,
maybe not as much as we envisioned for
2015 but that’s not because we were not
able to get the business, but because of
a few regulation changes in some of the
markets.
When you have that risk culture
embedded into your company and your
organization, you become a completely
different player because you think
differently from others in the market.
Today Trust Re is compared against
global players even though we are not
a global player. We are compared to
people who are in excess of a 2 or 3
billion income, who have a much bigger
global history, some of them 50 and
100 year old companies. It makes us
proud that we are seen in the market as
competitors or peers to these companies
and that we are able to provide the same
solution, if not a better solution in some
of the lines of business. Particularly
if you look at oil & gas where a vast
majority of clients would favor Trust Re
over other global players in the market.
As the pleasant afternoon ended, Kamal
Tabaja was sincere in his praise of the
Capital Club.
I think it has been quite important
not just in Bahrain, I have used
the Capital Club facilities in Dubai,
Singapore and many different places
when I travel for business. What I really
enjoy is the people that you see here,
they contribute and add value to what
you do from a different perspective.
If you want to get to know something
about a different industry you can speak
to the members. The entertainment and
dining is excellent at any of the Capital
Club facilities. The environment is
pleasant and the facility is here for us as
business professionals to enjoy.
30 May 2016

May 2016
31

Interview | Dr. Farid Al-Mulla
Feature
an attractive market for local and
global private bankers. The regional
wealth market since has in fact
grown even faster than anticipated,
despite increased competition,
pressure on profit margins, and
intensifying regulatory and compliance
requirements. The ensuing years saw
the impact of rising oil prices, as well
as increasing government spending on
megaprojects, infrastructure, further
economic diversification, and job
creation all contributing to the growth
of liquid wealth. This period showed
considerable opportunities for private
bankers that developed the right
capabilities in the expanding affluent
segment, along with the high net worth
(HNW) and ultra high networth (UHNW)
segments.
Dr. Farid Al-Mulla
Chief Executive Officer, Oasis Capital Bank
Working with a
Wealth of Ideas
As the Banking industry emerges
from global crisis of 2008, it was
the end of one of the modern banking
era’s most troubled and uncertain
periods, which saw the near or actual
collapse of well-known international
wealth management businesses,
and altered the face of competition
and the behavior of wealthy clients.
Despite those challenges, the region’s
quick recovery, especially compared
to some other markets, made the GCC
Middle Eastern HNWIs have
traditionally tended to book a high
proportion of their wealth in offshore
centres, with Swiss banks in particular
being favoured. Yet attitudes appear
to be gradually shifting. Since the
onset of the global economic crisis in
2008, Gulf nationals in particular have
begun to prefer to book assets closer to
home, opting to use local institutions
with whom they have existing banking
relationships and often greater
cultural affinities. This change in
preference corresponds with increased
regulatory scrutiny of private banks in
traditional hubs such as Switzerland
and Singapore, which has prompted
Middle East-based HNWIs to transfer
wealth back home, but has also lead
to a limited yet noteworthy transfer
of wealth to the region by others,
particularly from Europe, looking for
a possibly less stringent tax and legal
environment in which to operate.
A seasoned banker with a long and
diversified banking career, Dr. Farid
Al-Mulla has been involved with Oasis
Capital since 2008, from the inception
of the conceptual evolution of the
business model together with the
promoters of the project, Palm Capital,
obtaining the required regulatory
approvals, raising the capital and
developing / executing the business
plan and platform.
32 May 2016

Interview | Dr. Farid Al-Mulla
There is a lot of
secrecy and there
is a lot of trust
involved, and the
trust is based on
confidence and
longevity.
Dr Al-Mulla started his banking
career with Gulf International Bank
(GIB) in 1983, from where he joined
Bank of Bahrain and Kuwait (BBK) in
1990, starting as Head of International
banking and ending as CEO in 2001.
In a fascinating interview at the
Capital Club with bizbahrain Group
Editor Reena Abraham, Dr Al-Mulla
talks about the changes and challenges
he has seen in private banking and the
ethics and principles that have built
the foundation of his success. Here are
some excerpts from the conversation.
Let’s start with the story behind Oasis
Capital Bank. What defines it?
The story starts in 2007 when I was
approached by the main promoters
behind Oasis Capital with the idea to
create a private bank. Initially I was
skeptical, as I thought that the barrier
for entry into private banking was huge
and dominated by the Swiss banks
and by international banks. Private
banking for me was the ultimate
because you have the confidence of
the most successful, the HNWIs. There
is a lot of secrecy and there is a lot of
trust involved, and the trust is based on
confidence and longevity. These older
institutions have been around for years
and years, literally hundreds of years
and above all their performance have
perpetuated their existence.
When we were established in July
2008, within two months the world was
faced with the global financial crisis.
We started looking very closely on what
the repercussions of the crisis were
on investment banking. Our capital
was intact, but as an institution we did
not have the pedigree. It was a tough
introduction to the world of investment.
The learning curve must have been
steep. What was the take away from the
situation?
Fortunately for us, and through the
hard work of our staff and the support
of our board, we managed to exit all
our investments by 2015. We made a 51
million-dollar profit, and distributed a
good dividend in a very difficult market.
In private equity, you are not a
long-term player. You come in, you put
the house in order, and you move on.
Somebody else will then take it to the
next level. Somebody else could make
more money than you, and good luck to
them.
The increase in profitability
resulted from successful exits from
direct investments. Going forward, the
plans are to leverage our track record
and long-standing relationships with
various partners and continue to look
for suitable deployment opportunities
in selective markets. Today, we have
taken away the word “bank” from
our name and function; we are an
investment firm, and we are focused
solely on private equity. In our second
phase of investments, we have recently
closed an investment in an online
platform in beauty products in Europe
You reported 51.2 million for last year,
that’s a nearly 4 times increase from
the previous year, so how would you
differentiate your investment strategy
against other investment banks in
Bahrain?
Having gone through the early
experience and the massive challenges
we faced, I think the important thing is
to learn and to analyze your mistakes.
Is there one infallible rule or guiding
principle that works for private
banking?
Every firm will have its own
distinguishing brand message, but
perhaps there is one simple and
universal rule; know your customer/
investor and manage the product/asset
well.
Also, while we worry about
instabilities of markets, oddly enough
we also welcome it. Volatility in
markets create risks and opportunities,
this is precisely the type of challenge
we like to take.
We have streamlined our Business
model to focus on key strengths
and leverage our track record and
longstanding relationships with leading
PE firms. Oasis Capital will effectively
provide its investors with access to
“handpicked” individuals direct PE
investments from top tier firms at very
competitive ad transparent costs
What are the challenges for the banking
sector, particularly the private banking?
We are not in 2008 with a financial
and banking crisis, but I believe there
could be a possible repetition here in
the emerging markets, maybe not to the
magnitude of 2008, but still at a high
level.
What happened between 2008 and
now, and I am putting it very simply,
was to combat the down turn by making
money cheap to keep the ship afloat.
But the side effect is that it will create
another bubble, and this is where I
come back to the point, banking is
not a science. What the international
community did between 2008 until now,
honestly, is experimenting and like
many things in life, like medicine, you
don’t know the negative side-effects
until years later,
I think what happened between
2008 and now has been a near miracle.
We are very fortunate as a world we
didn’t get into a situation like the 1930s
with huge unemployment, and poverty,
and the end result of a world war.
In your opinion, what are some of the
specific long-term reforms to create a
stable and sustainable society?
I hesitate to answer because there
are so many variables. You can take
May 2016
33

Interview | Dr. Farid Al-Mulla
the simple route or you can go the
complicated route. Sustainability
requires the characteristics of a society.
To take one example, the Americans
have this DNA in them, they love
challenges, they stand up to challenges.
As Churchill said about them, “You can
trust the Americans to get it right in the
end after trying so many options.
But this is the way they go about it,
they have the courage to try. We don’t.
We are held back by our society, we are
held back by our morals, we are held
back by so many things.
I think this characteristic of
meeting a challenge with courage is
important. When you see the global
situation around you, with problems
that nations face, you look for the
mettle of the people. I look at people
and understand them through reading
their history, and through interaction
with them. I find there are people or
nations that have got strong backbones,
I think the Russians would also be in
that category, as would the Germans.
In their way, the Chinese would also,
and in their way the Indians. Because I
have interacted with the Indians, I think
there is inner strength in the nation,
and it is simply a question of tapping
that inner strength to move forward.
I am a strong
believer of an
old fashioned
theory, and that
is, my heart and
mind are with my
country.
I think one of the most important
attributes is education. With education
comes tolerance, tolerance of other
opinions. We live in a world, which
is contradictory. You have to allow
people to break the boundaries of
what’s acceptable. I don’t think we
can ever say that should be a world
or a society without any boundaries
because of course there are boundaries,
because you need to protect the weak
or disadvantaged in a society. Here
we are talking about boundaries that
limit thought and progress. Education
gives you that tool, that ability to say,
“I can solve the problem, whatever that
problem is.”
You talk about a more open society,
but do you think as far as banking is
concerned, more regulatory changes
would be an answer?
A simple answer is no, because
there is the regulation and there is the
adoption. When you go with your car
in the street, you know there are rules,
because the road is for everyone, but
does everyone adopt these rules. I think
not. We believe that once we put out an
issue as a law, we solve the problem.
The law is a policy and has a long term
effect. You need to keep it simple and
you have to educate people about why
they should adopt it, that it is for their
good.
So now we are talking about
understanding the spirit of the law
rather than the world of the law itself?
I will give a very good example. It
starts at school. We used to make a
joke that when you go to the West you
have to line up all the time, and you see
it actually everywhere, right from the
airports. There are however, people who
would love to jump the queue. You see
this on the highway, somebody steps in
front of you because he is very busy and
his time is more precious than yours -
that is his mentality. The rules are for
you, not for him. So you start teaching
children from the beginning, at school
itself, what discipline means. You tell
them that what you see in the world is
often wrong; and this is not the example
to follow.
As a CEO what is your vision and
strategy?
Vision is a long-term view so for
us, we want to build up this enterprise
and make it from a boutique to a larger
institution. We want to create quality
investments that people feel they are
With education
comes tolerance,
tolerance of other
opinions.
comfortable to work with and which
will be remunerative. Our focus at the
moment is on investing in Europe and
North America. I would love to invest in
this part of the world. As our Business
matures, we would like to focus on the
region.
The focus is to establish Oasis
Capital as a top tier regional private
equity platform. To become a reference
point for the best-in-class private equity
solutions for GCC based family offices,
high net worth(HNW)individuals and
institutions. Behind this vision lies a
strong conviction that in spite of the
many challenges facing Bahrain and
the region, that we will come back,
reinforced and prevail.
Do you feel a place like the Capital Club
is a place where one can exchange
opinions and confer with like-minded
people?
It plays a role definitely, and I think
that role can be enlarged even further.
I am an unusual member in a number
of senses. I am next door to the Club,
I simply walk across the road and I
am here. The convenience outweighs
everything else, the service is good,
the staff are very attentive even when
I give them a hard time at times. But I
appreciate their work as well.
I see the Capital Club evolving, I
see it a place for meeting people and
meeting personalities. Lots of times
when I have a guest from outside, they
prefer coming here rather than to the
office. I too prefer to have my business
meeting here, rather than in a prominent
hotel. I feel I can have a private meeting
here, although it’s an open space,
somehow it feels very private. I think the
Capital Club has done a great job. I think
it has done very well.
34 May 2016

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Interview | Bayt.com
help with in their lives, build a solution
that addresses it, and then obsess about
continually making improvements to
it. Adaptability and openness to change
is also a very important value. Change
leads to innovation and so we embrace
it. Since Bayt.com was founded, we
have striven to empower people with
innovative tools and technologies to lead
their lifestyle of choice.
What are the methods you use to reach
out to potential employers and job
seekers? And how do you keep in touch
with both?
Our strategy has always been to
empower job seekers and employers
alike, with all the tools and information
they could need to build more successful
lives. We continuously create top of
the line products and services to help
employers hire top talent quickly and
effectively, and to help job seekers and
professionals find and connect with
their dream job. Additionally, since we
work with thousands of employers,
ranging from small business, to large
multi-national organizations and
governments, to help them attract
and recruit qualified professionals
successfully. Bayt.com maintains an ongoing,
dedicated customer support staff
that works directly with our employers.
This dedication ensures that goals are
always achieved as efficiently and costeffectively
as possible.
Empowering Lives
It was the year 2000 and with the turn
of the millennium, change, innovation,
creativity and growth were the buzzwords.
It was in such an atmosphere that Bayt.
com was born, the brainchild of a group
of young friends. Since then, millions of
people have built their lives around the
dynamic employment site.
In charge of the Bahrain unit, Sultan
Sharabati has worked tirelessly to
increase the Bayt.com product portfolio
Sultan Sharabati
Unit Manager-Bahrain, Bayt.com
for Bahrain customers. He talks to
bizbahrain about transitioning customers
and growing transactions and revenue
volumes.
Bayt.com is one of the best-known job
sites in the Gulf. How have you kept the
position as market leader when so many
new players have entered the scene?
At Bayt.com, the success formula is
clear: find out what people need the most
We constantly communicate with
our stakeholders via our website, emails,
our social media platforms, the various
events we host around the region, CSR
activities, and as a part of the Bayt.com
University Roadshow.
There are a lot of vacancies without
demand and jobseekers without
opportunities in Bahrain. How does Bayt.
com help balance this through local
employment?
It’s pretty simple: jobseekers without
jobs in Bahrain can find jobs on Bayt.com
and can be found by employers seeking
to find candidates for their job vacancies
in Bahrain. We empower both to use our
platform to find each other. We are also
constantly present in career fairs around
36 May 2016

Interview | Bayt.com
the region to help jobseekers improve
their CVs and find jobs.
When Bayt.com was created in 2000,
there was one main goal, and that was
to address the unemployment issue in
the region by using the Internet as a tool
to give job seekers easy access to more
jobs and opportunities and enable them
to build successful careers. We took a
technology-centric approach, because
we believe that great, useful and welldirected
technology has the power to
do amazing things, and can completely
change the way we live.
In your experience what are the three
primary qualities that an employer looks
for?
The recent Bayt.com Middle East Job
Index Survey (February 2016) revealed
the top skills sought-after by employers
in the MENA region. Communication
skills emerged as the top skill, with 63%
claiming that it is the most important
they look for in candidates. This was
followed by, team player/cooperative and
efficient at 50% and 38% respectively.
With regards to experience, Bahrain
employers listed Managerial skills,
computer skills and sales and marketing
as the top three at 38%, 38% and 33%
respectively.
What would you say is the biggest
change in the job market in the last
decade?
There have been several changes in
the past decade.
1. The advent of social. Having a
professional online presence has become
absolutely essential for job seekers in the
Middle East: 84% of employers take the
time to research candidates online before
making a final hiring decision (Bayt.com
‘Hiring Management in the MENA’ poll,
August 2012). That’s why we released
the Bayt.com Specialties platform. It
enables professionals to express their
thought leadership in their professional
areas of expertise, and allows employers
to tap into this with innovative tools for
finding professionals whose true abilities
surpass those represented through
traditional CVs.
2. The ability to assess candidates
on the fly. Technology now empowers
employers to assess candidates before
they hire them, make it much easier
to pinpoint the perfect hire. Check out
Bayt.com Tests for example, which
cover topics as diverse as IQ and EQ to
negotiation skills and finance basics.
Employers have a better idea than ever
before on who they are hiring.
3. Availability of data. Data today
is very accessible, for both job seekers
and employers. For example, job seekers
can access tools like Bayt.com Salaries,
which give them vital information about
salaries, and employers can use very
comprehensive tools like Bayt.com’s
Talentera - an A-to-Z recruitment solution
- to get actionable data on the number of
people applying to their vacancies, and
pipeline stages to better plan for future
recruitment.
In Bahrain would you say there is a
mismatch between college education and
actual skills needed on a job?
A lot of graduates in the MENA region
leave their universities with very well
developed hard skills but still tend to lack
in soft skills, such as communication,
teamwork and the willingness and ability
to learn. We have yet to develop a culture
of people starting to work earlier in their
lives, in the region, to get a taste of what
the professional life looks like, and a true
experience of the workplace. For the most
part, people graduate from university
never having worked a day in their lives
and that creates issues. Simple steps like
teaching interviewing techniques could
have a lasting impact.
How can vocational training help in
boosting Bahrainisation levels and what
initiatives are under way?
According to the Bayt.com
Nationalization Practices in the GCC
poll (2015), 84.1% of GCC respondents
believe that their country of residence
relies more on expatriates for
specialized or knowledge-based jobs.
More than half believe that the best
way to improve the hiring of national
talent is by bettering educational and
vocational training facilities.
How have local companies kept up with
competitors internationally to match
employee benefits and facilities?
Our latest report, “Workplace
Satisfaction in the Middle East and
North Africa” (April 2016) revealed that
satisfaction levels among the MENA
workforce is running high. With 86.7% of
employees satisfied with how enjoyable
it is to go to work in the morning, it
is safe to say that local companies
have been able to keep up with what
employees need in order to remain
content and happy at their jobs. This
comes down to a multitude of factors,
such as satisfaction with work-life
balance, the amount of work required, job
security, recognition received at work,
and opportunities for career growth and
for learning in the workplace.
In a report published by Bayt.com titled
“Workplace Satisfaction in the Middle
East and North Africa (MENA)’, “an
overwhelming 86.7 per cent of MENA
respondents claim they are ‘satisfied’
with how enjoyable it is to go to work
every morning”, with 67.6 per cent of
them being “completely satisfied” and 19.1
per cent being “somewhat satisfied”. Your
comment.
At Bayt.com, we spend a huge
amount of time, effort and passion in
empowering people, and that always
starts with our very own. We focus
on ensuring that all our employees
are satisfied with all aspects of their
jobs, such as training opportunities,
growth opportunities, the physical
environment, and the honest and open
relationships we build internally.
It is very pleasing to see that there
is an overall positive outlook with
the satisfaction levels of employees
generally in the MENA workplace. It
is very important to acknowledge and
evaluate all aspects of satisfaction and
dissatisfaction in the workplace, and
improve upon what exists. Employee
satisfaction is important for both the
reputation of an organization, as well
as it’s growth, as your employees truly
are your brand ambassadors, and loyal,
motivated employees will always put
forth their best efforts towards the
company’s success.
May 2016
37

Focus | Virtual Office
clients, and a host of other factors, use
the knowledge of a respected company
that has all the right experience.
Understanding the
concept of a Virtual Office
Today, more than 5 billion of the
world’s 7.1 billion citizens are part of
the global mobile network; 60% of these
are Smartphone users*. We carry our
‘worlds’ with us wherever we go. The
concept of a career, an occupation, a
professional routine, has taken on new
meaning in the past 20 years. Just when
we think the evolution of the ‘office’ has
come to a pause, it shifts yet again. Now,
the idea of a virtual office is taking center
stage.
So what is a virtual office?
Essentially, it’s everything but the office.
That is, the infrastructure of an office
without the physical office space and the
intrinsic benefit of a prestigious business
address that you can call your own.
The typical virtual office user isn’t
necessarily an entrepreneur who’s just
starting his business and needs a cost
effective solution. The virtual route can
be taken by a large business in need of
short term office space for a specific
project or a busy SME in need of a space
to conduct meetings. The good news is
that, overall, the flexibility of a virtual
office helps with the all-important worklife
balance. Some of the basics a virtual
office typically includes are services like
an on-demand trained receptionist to
handle calls and messages, a worldwide
network of flexible, premium business
address options, a dedicated support
team for IT, administration and even HR
and fully equipped meeting facilities with
a powerful global network of technology
and communications.
Let’s get into the details of the
Virtual Office concept. Suppose you
have a brilliant business idea but are
not quite sure about the next step. It can
be exciting, but also daunting, to think
about the logistics of launching a new
venture. There is a great deal of time,
effort, and, in this case, capital, to invest.
Naturally, you want to do this right: in a
way that impresses, has an impact, and
gives you the satisfaction of value-formoney.
There are a number of factors that
must be considered... Location, access
to global network of offices, technology,
staff professionalism and so many more!
With the network setup of a Virtual Office
provider, you have a range of pre-existing
resources at your disposal and it is wise
to tap into these as an effective platform
for future success. Instead of trying to
understand cumbersome regulations,
figuring out fair but sufficient scheduling
in a way that doesn’t incur unnecessary
payroll expenses, deciding which address
matters to your target audience and
There are several advantages in
using a virtual office solution. Firstly
and foremost, you create a strong first
impression with your CBD location and
surroundings when a client walks in.
Not only is your mail handled, but your
calls are answered by a professional
receptionist and transferred to you
according to your instructions.
Regardless of your internal office culture,
there is also a significant reduction in
stress and time from less commuting
and, as a result, increased productivity.
This allows you to use your time more
effectively and work when it truly suits
you best. Human resources wise, you
have greater choice in hiring and can
choose the right formula of full-time or
part time workers from a larger labor pool
because location no longer needs to be
taken into account.
Be careful with your choice of
provider. Despite the plethora of benefits
that come with a virtual office solution,
there are a couple of minor setbacks to be
aware of, depending on your choice. You
may have technical difficulties that slow
the day’s progress, miscommunications
because instructions were received via
teleconference, potential lower solidarity
between fellow employees and less
direct managerial guidance and support.
However, the only global provider of
virtual office solutions with an instant
online and real-time platform is Servcorp.
You have total control of booking your
meeting facilities around the world as
well as updating your call handling
instructions in real time through an
online portal.
If or when you have finally
determined which way to go, the inherent
question is how to choose a virtual office?
The simplest way is to make sure you
have access to all of the fundamentals
outlined above. An ideal virtual office
will have a premium business address,
elegant interior décor, a well-trained
selection of personnel with impressive
capabilities and experience, no signage
and, of course, a fully converged IT &
communications system.
38 May 2016

Bahrain Financial Harbour
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Virtual
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May 2016 39

CBRE | Real Estate Analysis
The forces that shape
where and how we work
Workplace strategy” has become
a high-profile part of the
conversation around business,
talent and the broader economy-a
conversation often driven by headlines
focused on “place” (think fashionable,
alternative office environments
and talent-grabbing amenities).
And understandably so. These
modern workplaces are featured
on TV shows and style blogs, and
are helping redefine the traditional
view of a cubicle-filled workplace.
However, while being wowed by
these undeniably modern office
environments, we can overlook the
“work” and “strategy” ingredients that
comprise the concept of workplace
strategy.
The right starting point
is business strategyunderstanding
an
organization’s “plan to win”
in the marketplace.
But for the executives who manage
workplace environments for some
of the largest and most successful
companies in the world, they arrive
at “place” only after they have also
thoughtfully considered the other
ingredients of the term-“work” and
“strategy.” This discipline comes
from the fact that business leaders
are expecting great outcomes from
the workplace investments they are
making.
40 May 2016

CBRE | Real Estate Analysis
For example, in CBRE’s inaugural
Global Occupier Survey, 57 percent of
the 229 executives surveyed identified
employee attraction and retention
as the most important driver behind
their company’s workplace strategy.
Meanwhile, 85 percent said that
they had used space restructuring to
impact cost in the past year. In short,
workplace strategy has to deliver on
multiple objectives.
“Today’s corporate real estate
executive must balance new workforce
desires with a realistic workplace
strategy that brings talent and expense
management into simultaneous focus,”
according to the report. So even if
the “place” grabs all the headlines, a
disciplined approach is required to
balance multiple objectives and deliver
the exceptional outcomes business
leaders are demanding.
The right starting point is
business strategy-understanding an
organization’s “plan to win” in the
marketplace. These plans evolve
constantly, and real estate executives
must translate them into more specific
questions that real estate can solve.
Translating business needs into the
right workplace solutions is important
work. Even if corporate real estate
executives are not responding to a new
shift in their business, the best among
them are never developing workplace
strategy in a vacuum. They are always
working through a variety of real
estate and business strategy filters and
questions, as illustrated in the figure
below.
who needs what size of office at which
corner of the floor on a moment’s
notice.
One organisation’s plan to succeed
will not be another’s. Flexible, activitybased
work environments may be
just the ticket for one company, while
well-appointed, traditional offices may
still be the winning formula for another.
But whatever the answer, the important
point is that workplace strategy never
starts with the debate about open
plan vs. traditional, or amenity-rich
vs. barebones, or CBD vs. peripheral
locations, or how many square metre per
person. What matters is each company’s
unique strategy, its plan to succeed,
and how that plan translates into the
approach to talent, market presence and
workplace environments.
CBRE’s Online Magazine: BluePrint
www.cbre.blueprint.com
Written by: Karen Ellzey and Carrie
Thompson.
For further information, research and
commentary on Bahrain’s real estate
sector, please visit:
http://www.cbre.com/research-andreports
or email Bahrain@cbre.com
Some of these questions can have
more than one answer. For example,
many leading companies are opting
for hybrid spaces that afford 10 or
more distinct working environmentssome
open, some private-in the
same facility. This allows workers to
choose the type of space that works
for them, based on the type of work
they are doing at different points
throughout the day. The flexible nature
of these environments mean that the
company’s workload-and workforcecan
expand and contract without
requiring precise predictions about
Main Drivers of workplace strategy globally
May 2016
41

ASAR | Finance Law Analysis
Listed Real Estate Investment Trusts:
A New Avenue for Investment
by Simone Del Nevo
With the recent issue by Bahrain
Bourse of the listing and
trading rules in respect to real estate
investment trusts (Reits), securitized
real estate holdings have finally become
available to Bahraini investors as a
publicly tradable investment alternative
to stocks. Real estate investment
trusts are unincorporated legal
entities created under a contractual
arrangement (the trust instrument)
which received real property assets (the
trust properties) to be held by a trustee
for the benefit of the beneficiaries of the
trust. In Bahrain, Reits are structured
as collective investment undertakings
with the undivided beneficial ownership
of the trust properties represented by
units. Unlike a commercial company, a
trust is an unincorporated legal entity
which therefore lacks the the so-called
legal personality to directly hold title to
assets or to stand in legal proceedings
in its own name. Unlike an ordinary
contractual arrangement, the trust
is a legal entity with an autonomous
estate insofar as all assets and
liabilities of the trust are segregated
from the assets and liabilities of the
settlor, the trustee or the beneficiaries
pursuant to express statutory
provisions of Bahrain law. Hence,
it stands somewhere in the middle
between a contractual arrangement
and a commercial company. The
advantage of a trust structure vis-àvis
an ordinary contractual structure
(also known as fiduciary structure)
is that the trust creates a separate
estate which cannot be attached by the
creditors of the trustee; whereas, the
advantage of a trust structure versus
a commercial company relates to its
superior flexibility. The formation
and registration of trusts (including
Reits) is currently regulated by the
Financial Trust Law of 2006, though a
consultation paper has been recently
put forth for a new statute to govern
Bahrain trusts.
Traditionally Reits can take the
form of an equity Reit investing in
the ownership of income-generating
property and mortgage Reits investing
in interest-yielding mortgage loans,
though the current regulations issued
by the Central Bank of Bahrain do not
consent the creation of mortgage Reits
or even hybrid Reits investing part of
their assets in mortgage loans. Reits are
highly regulated instruments as, beside
the general regulation contained in the
Financial Trust Law of 2006 applicable
to all trusts created there-under, they
are also subject to stringent regulations
contained in Volume 7 of the Rulebook
issued by the Central Bank of Bahrain.
One of the key aspects of the regulation
of Reits is the requirement to distribute
annual dividends of not less than 90%
of their audited net realized income to
42 May 2016

ASAR | Finance Law Analysis
the participants. This defines perhaps
the most fundamental difference
between Reits and other forms of
collective investment undertakings
or stock investments in that Reits are
obliged to deliver most (though not all)
of the income realized by paying it out
annually to the investors in the form
of dividends; therefore, the possibility
of reinvesting into the business is
limited. Yield, as opposed to net asset
value, becomes thus the key parameter
to determine financial performance
of a Reit. Central Bank of Bahrain
regulations also define the scope of
the investments that may be carried
by a Reit, which varies depending
on whether the Reit is limited to
investment by accredited investors. In
that case, the rules concerning, inter
alia, a minimum level of diversification
(the Reit must hold a minimum of 2 real
estate properties), a maximum level of
development expenditures on existing
properties and a limit to assets other
than real estate that may be owned by
a Reit (only cash and cash equivalents)
are relaxed. The regulations also limit
the amount of financial leverage that
may be incurred by a Reit offered
to investors other than accredited
investors.
Liquidity is another key factor of
a successful Reit structure, and the
recently issued listing and trading
rules have filled a gap that previously
hindered expansion of Reit instruments
in the Kingdom. The availability of a
liquid, public market supports investors
exiting from the investment through a
trade in the bourse, though it should be
noted, unlike a redemption of units in
other types of investment schemes, a
trade on the Bahrain Bourse is effected
at a market price that is determined by
matching bid and ask orders and which
may be different than net asset value.
Central Bank of Bahrain regulations
and Bahrain Bourse rules have created
the condition for the expansion of
Reits in the Kingdom as an investment
vehicle for real estate; however, to
thrive Reits must prove efficient
and competitive versus other forms
of investments in addition there
remaining a robust market appetite
for real estate investments. With
the absence of tax implications, the
primary drivers in terms of preferred
investment structures rest with costs
(both upfront and ongoing), security
and flexibility of such structures.
The costs of compliance of a Reit as
compared to, for example, a commercial
company holding structure, are
generally higher, though this associates
in part with greater protections for
investors. Whereas higher costs might
ordinarily constitute a disadvantage,
the flexibility inherent to Reits may
prove, if properly used, a critical
advantage over corporate structures.
For example, the absence of legal
capital rules on Reits (other than
the requirement that a Reit must be
constituted with property having at
least USD 20 million (or equivalent in
another currency) appraised value)
consents devising a structure to
maximize distributions and avoiding
cash traps—where cash sits in the
structure yielding lower returns than
the other assets without the possibility
of distribution to investors.
Lastly, from an investor perspective
the palatability of a Reit would depend
on the quality of both the income
generating property held and the
persons in charge of management.
That said, the existence of a regulatory
framework and supervision by the
regulator should ensure that the
management of the Reit is focused on
generating income from the properties
and distributing such income to
the investors while controlling
unsystematic risk. This includes
limitation on risks connected with
extensive capital expenditures or
reinvestment of profits to expand the
Reit, which would be consented only
to a limited extent under regulations
applicable to listed Reits.
All in all, the real estate sector
has proven to be resilient through
difficult economic cycles, and the Reit
regulations permit a new avenue for
investments allowing smaller investors
to achieve the benefit of a diversified
portfolio of properties while retaining
the income-generation profile of a
typical real estate investment. It is
now for industry leaders to structure
listed real estate investment products
by making best use of the flexibility
inherent to Reits, which, if successful,
should attract further investments in
the real estate sector with a positive
domino effect.
Simone Del Nevo
Senior Associate at
ASAR-Al Ruwayeh &
Partners
May 2016
43

Focus | Company Formation
Professor of Economics at the University
of California in Berkeley. For obvious
reasons I don’t necessarily agree with
him.
Countries and Over Night Fame
by Dr. Alex R. Suchy von Weissenfeld
Countries, a little bit like people these
days, do a lot to set themselves apart
from others. Switzerland is known for
its snow capped mountains, their banks,
their chocolate and their watches. Who
doesn’t think of the Cote D'azur, good
food, and Paris and its many museums
when they hear France?
Well, These countries have worked
hard to make a name for themselves and
to stand out. Over the years, sometimes
many decades, they have achieved a
certain reputation in their fields. The
one major event, that put Bahrain ‘on
the map’ or rather, into the world’s
greater collective consciousness is the
construction and subsequent execution
of the Formula 1-a first in the Middle
East.
Why am I telling you this? Well, while
some people and countries work hard for
their reputation, some get rather sudden
and often unwanted attention because
photos or videos leak to the public and
then people end up with their own
reality TV show. Speaking of “leaking
to the public”, at the beginning of April,
something happend, which brought one
particular country back to the people’s
minds - and definitely not for the reason
that country would have liked.
Panama is a country in the heart
of Central America, located directly
between the North and Southern
American continents. Most people
know the Panama Canal, which is what
the Republic prefers to be known for; a
direct access for large ships from the
Atlantic to the Pacific Ocean. It wasn’t,
however, an incident at this canal, which
caused Panama to rule the headlines of
the local tabloids all around the globe,
but something that happened to a well
renowned law firm in Panama City.
“Mossack Fonseca” is the firm’s
name and as recent weeks have
revealed, they fell victim to a hacker
attack on their website. This attack
allowed access to and the ‘leaking of’
more than 11 million documents related
to the firm’s clients. This breech of
security becomes even more delicate
as the main focus of this particular law
firm is the formation and management
of offshore companies in Panama for
clients from around the world. It is the
nature of such international business
companies, to allow a certain degree
of privacy to their beneficial owners,
and I’m sure you have come across the
odd headline in newspapers recently
either demanding that certain public
figures step down or reporting that
they have as they were found to be
involved in “harmful practices and
criminality”, which are “ingrained..
..in the offshore world!”. This quote is
one of Mr. Gabriel Zucman’s, Assistant
I’ve spent the last six years forming
companies and other legal entities
for clients in so-called offshore
jurisdictions and let me tell you right
here: There is nothing illegal about
such firms - as such! A fair number
of countries has managed to attract
investors in such offshore companies
because of the ease of registration and
low maintenance as well as availability
of additional financial licensing. I
myself have written several articles on
and advocated the fact that keeping
up with the legal requirements for a
company in Belize or the British Virgin
Islands is much easier than in many
other countries and therefore startups
should consider them - and I stand by
those recommendations. However, I
will, of course, not deny that offshore
entities can be easily misused for tax
evasion or money laundering, but so can
‘regular companies. “Black Accounts”,
secret bank accounts of your company,
are common in many jurisdictions.
A Bahrain registered company has
accounts with, say, Kuwait Finance
House, BBK, and HSBC. However, the
auditors only ever get to see the account
statements for BBK and HSBC. Invoices,
that get paid into the KFH account never
make it into the books and if Bahrain
imposed taxes on their companies’
revenue - that would be tax evasion and
a criminal offense right there - with
a perfectly well registered onshore
company.
Newspapers live to sell themselves
and when the public is tired of this
‘crisis’ they’ll move on. I, for one, shall
continue advising my clients to use
offshore entities for their firms if and
when it suits their legal requirementsmaybe
just not in Panama for the time
being.
Dr. Alex R. Suchy von
Weissenfeld is currently
focused on company
formation in Bahrain and
internationally
44 May 2016

May 2016
45

Opinion | Business Strategy
Toward Compassionate Corporate Culture
by Ali Al-Aradi
Tacit Assumptions in the
corporate culture has been
defined as a pattern of shared
basic assumptions which are in
response to the need for internal
integration and external adaptation.
This definition implies that an
organization’s culture is a response
to internal forces. This response can
manifest itself at three levels: (1)
artefacts organizational attributes
that take a material form, (2) personal
values that are widely expressed
and shared within the organization,
and (3) tacit assumptions that are
not normally articulated identified
in everyday interactions between
organizational members. These tacit
assumptions operate as hidden rules
of the road and are often unspoken
or even taboo to speak of. The
problem organizations confront in
developing an approach to Corporate
Social Responsibility CSR that is
consistent with the desires of the
larger society is that explicit ethical
codes of conduct and negatively
framed admonitions from corporate
leadership do not impact those tacit
values embedded in the culture. If
those articulated values are not in
harmony with the organizations’
tacit assumptions, paradoxical
behaviour can result. For example,
acknowledged values may be to treat
the customer fairly and not cheat
them. A customer with a big order
may then not be told of an available
quantity discount, because the tacit
assumption is that taking the extra
revenue from the customer is not
cheating because they were not
explicitly lied to. A company may
have explicitly articulated values to
treat the environment with respect
46 May 2016

Opinion | Business Strategy
and not pollute it, however, pollution
is defined as dumping into the sea
system those chemical explicitly.
Yet, if as a result of new technologies,
the company produces a new type of
waste that is consequently not on the
hazard chemical list, the company
dumps the new waste in the sea
because the tacit assumption is that
if it’s not on the list it doesn’t count.
Creating or changing the tacit
assumptions embedded deep within
an organization’s culture can be
difficult since they are hidden from
view and not to be spoken of. That is
where the role of ethical leadership
comes into play. The characteristics
of authentic leadership are mutually
reinforcing constructs which
further develop the constructs of
charismatic, transformational and
transactional leadership styles.
Inspired leadership enhances both
the individual self-fulfilment and the
long-run goals of the organization,
while benefiting the larger society.
Leading such a change is likely to
be an emotion-laden process in the
organization’s mood where emotions
are entwined with all the factors that
constitute the organization’s culture.
The effectiveness of addressing
the values embedded within the
organization’s tacit assumption may
be dependent on the emotional state
of organization members and the
emotional state of the leaders.
The mood of the organization
can be broken down into (1) the
mood of the individuals within the
organization, (2) the affective tone
of the organization, and (3) public
expressions of mood which impact
group processes like coordination
and task strategy. Mood can be
seen as emotional state along a
continuum running from pessimistic,
discouraged, and lacking hope, to
optimistic, encouraged, and hopeful.
The task of leadership in developing
the values orientation necessary
to practical compassion requires
activities and experiences which
move the group along the continuum
to the optimistic, encouraged, and
hopeful. The mood of the leaders is
also important because emotion is
contagious. The leader’s behaviour
may be an important source for
positive and negative emotions
among organizational members.
To be a leader, one must foremost
be human. A leader is seen as
integrating employee’s inner
perspective on the purpose of life
where this inner perspective is the
foundation for decisions and actions
in the outer world of business. The
ethically effective leader needs to
create situations and events that
lead to an emotional response
among organizational members
that encourage the members to
think about the larger purpose of
their lives. Leader behaviours shape
workplace affective events such as:
giving feedback, allocating tasks,
distributing resources as well as
developing relationships based on
trust, respect, honesty, empathy and
compassion
The culture here is a learned
response to the necessities of
internal integration and external
adaptation. Since business
organizations are open organizations
their cultures are necessarily
dynamic and subject to change
over time. As the organization
responds to external stimuli, the
tacit assumptions necessary to
make the organization more socially
responsive can be addressed through
the development in the form of
practical compassion developed
by its members. As a learned
response to the process of internal
integration, tacit cultural values can
be influenced by ethical leadership.
Leaders can encourage employees
to develop their own values by
example. Encouraging an orientation
to finding a purpose outside of self
or short run organizational goals can
be a powerful approach to changing
organizational culture.
Finally the process of the
authentic leader will leads to the
self-actualization and can be a
powerful motivating force in the
life of the employees. The creation
of a positive ethical stance in an
organization requires members who
share a practical compassion for
the world outside the organization’s
boundaries. This is not an outcome
which can be imposed from the
outside, but must develop from
within.
Ali Al-Aradi
HRD Lecturer & Writer
May 2016
47

Specialist | Public Speaking
the speech and tap into their visual
senses and nothing else.
How not to get a ‘D’
for your Delivery!
by Mohamed Isa
They have a saying in the real
estate industry: Location, location,
location! In speaking, it is: Delivery,
delivery, delivery! No matter how good
your content is, your delivery will be
the deciding factor on whether your
speech is a success or a failure. So, let
us discuss how not to get a ‘D’ for your
Delivery in your upcoming speech!
One of the common mistakes
speakers make is moving on the stage
like tennis players. They confuse
moving around with being dynamic.
Instead of just moving for the sake of
moving, think and plan your movements
so that you use them to illustrate your
points more effectively. For example,
if you are telling an audience a story,
you could use the stage as a timeline
indicating the different segments or
scenes of the storyline or the placement
of characters on the different areas
of the stage. By doing this, you could
use call backs and gestures to refer the
characters and scenes. One caveat is
worthy of noting. Do not over plan your
movements or else you will appear like
a robot!
Another mistake is to step on the
thoughts or laughs of the audience. One
of the way of engage the audience is to
ask questions so that you trigger their
thinking process about the points you
are sharing with them. When you ask
a question, pause briefly to provide the
audience with an opportunity to think
and reflect. They would appreciate this
because you are giving them a chance
to think on how to apply the concepts
you sharing with them back in their
businesses. Similarly, when you pull the
trigger on a punchline and the audience
laughs, pause and let them laugh. Do not
step on their laughs. Let them have fun!
They will love you for that. I use this
strategy constantly and one time I got a
14 seconds laugh and I have it on video!
Now, let us talk about a mistake
that not a single audience will tolerate
and appreciate which is to sync your
lips to your PowerPoint slides. It is the
unforgivable act of reading your slides
to the audience. All the audience will
be wondering: “Why didn’t he or she
just send the slides in advance; we all
can read!” If you have encountered this
situation before, it means you have not
prepared well and you are abusing the
slides to overcompensate for your lack
of confidence and preparation. Use the
slides as a visual aid not a teleprompter
to help you deliver your speech. They
are there to help the audience to grasp
The fourth common mistake is
putting your audience to sleep. Yes, this
could happen if you speak in monologue
at the same rate and volume your entire
speech. Think about it, how do you put
an infant to sleep? Simple, you sing
a lullaby. You sing with the same low
volume and rhythm until the infant
falls asleep. Do this in the bedroom not
in the auditorium! When you speak to
an audience, vary your tone, pitch and
rate to keep the audience engaged and
interested throughout your speech.
One of the best ways to have this come
naturally to you is to include more
stories in your speeches so that you give
your characters a voice and show their
emotions when the say their respective
lines in the conversations.
Finally, this is a mistake that I
have observed many times by many
speakers especially the novice ones.
They imitate the speaking style of other
speakers who they admire. They copy
them in everything! I am sure you
heard and read this phrase countless
times: “Be yourself. Everyone else is
taken.” There is nothing wrong with
emulating the best of the best. However,
instead of copying them, reach out to
them. Ask them questions: How did you
develop such a massive and impressive
vocabulary? How do you develop such
a vocal variety when you speak? And
then, develop your own speaking style
and personality and remember this: Be
inspired by many but be a copy of none!
Remember, you are not like most
speakers who commit deadly mistakes
when it comes to their speech delivery.
Now, you know better! Here is my
promise to you: Avoid the common
mistakes and apply the delivery
techniques I shared with you and your
audience is bound to give you an ‘A’ for
your delivery! All the best.
Mohamed Isa is an Executive
Speech Coach and Writer.
Co-Author of Amazon’s Best
Seller: World Class Speaking
in Action, and a regular
speaker at conferences in
the Middle East.
mohamed@3dspeaking.com
48 May 2016

May 2016
49

Marketing at its Best
When you know
you are Coasting
by Ahmed Al Akber
Managing Director, ACK Solutions
There comes a time when we all
‘coast’. Sales are in line with targets,
customers are available in abundance,
and when you don’t even have to work
as hard as much as you used to. You
are comfortable and content – and you
have the right to be!
While ‘coasting’ is lovely situation
to be in, you don’t want to be there too
long. We get comfortable when we sit in
a soft, comfy chair, and can stay there
for a long time without moving. The
same thing happens in business – if
you get too comfortable, the world may
just pass you by.
My MBA strategy professor, Gerry
Johnson, called this strategic drift. It’s
when a business stays in one place, not
innovating or improving, while the rest
of the market moves ahead. Customer
needs eventually change and sooner
or later the business finds itself in a
position where it can’t deliver like it
used to. Eventually it’s forced to make
hard decisions to get back to the same
level as in its heyday.
Dell had this problem in the
mid to late 2000’s when they didn’t
focus as much on brand building and
creating amazing consumer products
as companies like Apple did (Apple is
now worth over 20 times Dell’s market
capitalization). The encyclopedia
Britannica was printed for 200 years
before being stopped in 2013 following
the growth in popularity of online
alternatives like Wikipedia, which had
only been around for less than 20 years.
How do you know when you’re
‘coasting’? Some of my clients hire
me because of this reason – their
sales teams have no sense of urgency.
Skimming time off what should be an
effective schedule is usually a sign of
that. Another is when you take twice
as long to do something as you should
do. If you feel no vulnerability or fear in
what you do, that’s another sign you are
coasting.
The CEO of one of my clients
once told me that he knew they were
coasting when they had achieved their
5 year sales goal, which they hit. The
problem was they hadn’t set another 5
year goal after that, and the business
coasted for over a year. Sales suffered as
the market caught up, and it took a huge
effort to get the whole company back on
track for growth.
What aspect of your business are
you too comfortable with? Have you
felt vulnerability or fear over a new
initiative lately?
Ahmed Al Akber is the Managing Director of ACK Solutions, a firm
that helps companies to dramatically improve their marketing and
sales results by offering more effective ways attracting customers
and significantly better products and services.
Ahmed has worked internationally in marketing, sales, and strategic
planning at companies such as The Coca-Cola Company, Philip
Morris International and Dell. Questions or comments can be sent to
Ahmed on ahmed@acksolutions.com
50 May 2016

May 2016
51

Biz Auto
JAGUAR
F-PACE
Speedsters
Ladies
Families
Bankers
Executives
Celebrities
Sports Types
When sensational performance
meets dramatic looks, the
result is pure exhilaration. Add
everyday practicality and you have
the All-New F-PACE, Jaguar’s SUV.
Inspired by F-TYPE, the new Jaguar
F-PACE is a performance SUV that
has the DNA of a sports car. From
the bonnet bulge to the pronounced
rear haunches, its powerful looks
make it distinctive and give it a
head-turning road presence. F-PACE
reinvents the energy, strength and
purity of form of F-TYPE.
F-PACE is a performance SUV
that combines maximum driving
exhilaration with efficiency.
Technologically advanced to
the core, F-PACE keeps you safe,
connected and entertained. It has
the capability for every road and the
capacity for every day. F-PACE is
a Jaguar for you, a Jaguar for your
family.
Explore the range of engines
including the 3.0 litre V6 380 PS
Supercharged Petrol and the new 2.0
litre 4 cylinder 180PS Turbocharged
Diesel* Ingenium engine, which can
achieve 5.3l/km and CO2emissions
as low as 139g/km.
F-PACE has class-leading boot
capacity of 650 litres and a
versatile 40:20:40 rear seat folding
configuration.
F-PACE gives you state-of-theart
technology, such as Head-up
Display and Activity Key, as well
as advanced driving aids to make
every journey easier and more
relaxed. These include the advanced
InControl multimedia system, which
keeps you entertained and ensures
that you are always connected to
the outside world.
Browse F-PACE’s line-up and
discover your perfect combinations
of performance, style and
practicality.
52 Authorised Dealers May in 2016 Bahrain: Euro Motors

BENTLEY
BENTAYGA
Speedsters
Ladies
Celebrities
Bankers
Executives
Families
Sports Types
The Bentayga heralds the creation of a new luxury
segment.
It represents a radical rethink of the SUV category, a
journey of reappraisal, rediscovery and reinvention.
It is a powerful statement of contemporary design and
groundbreaking performance in all conditions both, on
and off road. It empowers you to see new landscapes
and cityscapes, while exploring new frontiers of ride
comfort.
Highly capable both off and on road, the all-new W12
engine delivers a potent combination of power, speed
and efficiency. Expect an effortless surge forward when
you put your foot down, with a maximum torque of
900 Nm (664 lb ft) available at a little over idle speed.
With 600 bhp (608 PS) that’s supercar power to go with
supreme luxury. The top speed is 187 mph (301 km/h)
and, impressively, it can accelerate from 0 – 60 mph in
just 4.0 seconds (0-100 km/h in 4.1 seconds).
A wealth of intuitive driver-assistance features and
Bentley’s proven all-wheel drive system guarantee
confidence and control on any road, from the school run
to the most challenging of mountain terrains.
An impressive choice of optional equipment and dealerfit
accessories cater for the most demanding of modern
lifestyles and there are numerous opportunities to
personalise and create a truly unique car.
The Bentayga was created to propel you at exhilarating
speed and in unrivalled comfort. More individual, more
exquisite and more powerful than any other SUV, it will
also propel you into a new world of luxury.
Authorised Dealers in Bahrain: Ahmed May 2016 Zayani & Sons W.L.L. 53

Listing | Tender Board Bahrain
Company Name
Tender Subject
Bahrain Authority for
Culture & Antiquities
Conservation and rehabilitation of Manama post
office - architectural design and supervision
Bahrain Petroleum
Company
Outsourcing Sales operation of Bapco service
stations
Electricity and Water
Authority
Leasing of light vehicles for four (4) years
lease (68)
Electricity and Water
Authority
Supply of proofpoint system support and
maintenance (3 years)
Central Stores
Directorate
Vent steel louvered
Labour Fund
Third edition of "Shop Bahrain" Bahrain
Shopping Festival
Ministry of Youth and
Sports Affairs
Land investment for Busateen Club
Works, Municipalities Affairs
& Urban Planning (Works)
Proposed sewerage scheme - Sitra block 602
(additional area) project no. Ses-15-80-010
Source: www.tenderboard.gov.bh
54 May 2016

Tender No. Tender Type Opening Date
2016/04 Public 28/04/2016
T160028 (24) Public 28/04/2016
2016-053-RP-
FRSD
Public 28/04/2016
2016-070-RP-ISD Public 28/04/2016
TC/AJ/PT-
061/03/2016
Public 28/04/2016
LF- 146
Public
28/04/2016
RFPMYS/11/2016
Public
28/04/2016
SES-16/0004 Public 28/04/2016
May 2016
55

Highlights | Government
Oil & Gas Platform for Bahrain and Malaysia
The Bahrain Economic Development
Board (EDB) and the Malaysia
Petroleum Resources Corporation
(MPRC) have signed an MOU to promote
cooperation and explore opportunities
in the oil & gas sectors on the side lines
of a business forum hosted by MPRC in
conjunction with Offshore Technology
Conference Asia 2016.
Bahrain and Malaysia have a history
of firm bilateral relations and engagement
on a variety of economic and strategic
fronts. In addition to manufacturing and
EDB Bahrain Hosts Chinese
Delegation
Forty Chinese investors from various
Chinese cities representing a
number of sub-sectors within the food
and restaurant industry visited Bahrain
to explore potential opportunities
for cooperation and investment. The
delegation participated in meetings
with key officials at the EDB, where they
were introduced to the Kingdom’s key
competitive advantages and economic
landscape. The Chinese delegation
also meet with their local business
counterparts at the Bahrain Chamber of
Commerce and Industry.
EDB officials briefed the visiting
delegation about the investment
oil and gas, both countries are leaders and
innovators in Islamic finance and rapid
growth has prompted closer ties in this
sector. A number of Malaysian financial
institutions such as CIMB and Malayan
Banking Berhad (Maybank) have offices in
Bahrain, and in 2012, Bahrain’s investment
arm, Mumtalakat Holding Company, raised
around $1 billion in an Islamic bond issue
on the Bursa Malaysia.
Malaysian construction companies
are also performing well in Bahrain and
have successfully delivered a number
of large-scale and high profile projects
including the Formula One circuit, the
North Manama corridor project, the
Shaikh Khalifa bin Salman Highway, and
the Bahrain City Centre.
Malakoff Corporation, Malaysia’s
largest and one of Southeast Asia’s
largest independent power producers has
acquired a substantial stake in Bahrain’s
Hidd Power Company as part of its global
expansion and further highlighting the
strength of the two nation’s investment
relationship.
opportunities that Bahrain’s mature
and open economic environment offers.
Companies looking to establish operations
in the Kingdom will be able to benefit from
the numerous advantages that Bahrain
offers investors, including low operating
costs, a highly qualified bilingual
workforce, and unique access to its GCC
neighbours. The hotels and restaurants
sector is also one of the fastest expanding
areas of the Kingdom’s economy, totaling
8% over the first three quarters of 2015.
Mr. Khalid Al Rumaihi, Chief
Executive of the Bahrain EDB, commented,
“The GCC market is growing and the
demographic dynamics are changing,
with Bahrain uniquely positioned as a
gateway from which companies are able
to access this market.”
The delegation’s visit is a part of the
EDB’s strategy to strengthen bilateral,
economic, and investment cooperation
with The People’s Republic of China which
is one of Bahrain’s leading commerce
partners. In 2015 the EDB hosted 20
Chinese delegations covering various
sector and provinces of China.
“Be Productive” Home
Business Initiative
Yousif Ali
Executive Director of Customer Engagement
and Support, Tamkeen
As part of its efforts to support
enterprises and provide them with
continued growth and development
opportunities, the second edition of
Tamkeen’s successful “Kun Muntijan”
(Be Productive) initiative was held.
The initiative was part of a series of
interactive events which help microenterprises
become more aware of the
support and solutions available to them.
Tamkeen’s partners in the initiative
include the Ministry of Labour & Social
Development, the United Nations
Industrial Development Organization
(UNIDO), Bahrain Chamber of Commerce
and Industry (BCCI), the Social Media Club
(SMC), Family Bank, Ebdaa Bank, Khaleeji
Commercial Bank, Al Eslah Society,
Batelco, Zain, VIVA, Tam Express and
PayTabs.
“Kun Muntijan” provides participants
with a supportive environment while
supplying them with the tools to develop
their businesses further. The activities
included lectures highlighting the
importance of micro-enterprises and the
key challenges they are facing in areas
such as licensing, finance and other
critical functions. Tamkeen partners also
showcased their products and services.
Yousif Ali, Tamkeen’s Executive
Director of Customer Engagement and
Support, lauded the initiative, saying,
“Tamkeen is working continuously
to provide support for individuals
and enterprises during all stages of
their professional devlopment. Home
businesses in the establishment phase,
seeking to build their brand and market
their businesses and products are one of
the key segments to which we focus our
support.”
56 May 2016

Government
Nogaholding Signs
US$570 Million Boost
Shaikh Mohamed bin Khalifa Al Khalifa
CEO, Nogaholding
Nogaholding, the investment and
business development arm of
Bahrain’s National Oil and Gas Authority
(NOGA) announced it has signed a five
year US$570 million multi-bank Murabaha
facility to support investment into a
number of large scale oil and gas projects
within the Kingdom of Bahrain.
The $570 million sharia-compliant,
five year financing is the first foray for
nogaholding into the syndicated credit
markets, and marks the beginning of a
Women empowerment
contributes to economy
Dr. Ebrahim Janahi
Chief Executive, Tamkeen
Tamkeen Chief Executive, Dr. Ebrahim
Janahi affirmed that a key part of
Tamkeen’s strategy and work comes
within the framework of having access
to the entrepreneurs and introducing
them to Tamkeen’s services and provide
their services, support, training and
guidance for them so as to promote
women’s presence in the private sector.
Economists and media figures stressed
the need to promote women’s economic
empowerment programmes in order
number of strategically important growth
projects for nogaholding and Bahrain’s
energy industry.
The facility size was increased by 60%
due to investor demand and the book was
significantly oversubscribed.
The syndicated facility consists of the
following ten international, regional and
local banks: Arab Banking Corporation
(ABC), Ahli United Bank (AUB), Arab
Petroleum Investments Corporation
(APICORP), Gulf International Bank (GIB),
and National Bank of Bahrain (NBB), Qatar
Islamic Bank (QIB), Kuwait Finance House
(KFH), The Bank of Tokyo-Mitsubishi UFJ
(MUFG), BNP Paribas, and HSBC.
The facility will enable nogaholding
to invest in three key developments: the
BAPCO Modernisation Programme, the
LNG Import Terminal, and the Bahrain Gas
Plant Project (part of Bahrain National Gas
Expansion Company).
Shaikh Mohamed bin Khalifa Al
Khalifa, CEO of nogaholding said, “This
is an investment for the future and
highlights our continued efforts to
grow the Kingdom of Bahrain’s oil and
gas assets and position our nation as a
significant regional and international
player.”
to face the economic and financial
challenges.
Dr. Janahi highlighted a number
of projects carried out by Tamkeen in
partnership with the Supreme Council
for Women (SCW) to support women
economically, including a Memorandum
of Understanding (MoU) between the SCW,
Tamkeen and Bahrain Development Bank
(BDB) regarding the launch of Bahraini
Women Development Portfolio Fund worth
a total of $100 million.
Bahraini Media Figure Sawsan Al-
Shaer highlighted the SCW’s role under the
leadership of Her Royal Highness Princess
Sabeeka bint Ibrahim Al Khalifa, Wife of
His Majesty the King and President of
the Supreme Council for Women (SCW) at
adopting an integrated economic system
as a part of the National Strategy for the
Advancement of Bahraini Women, that
support women economically in Bahrain,
like Tamkeen, BDB, Creativity Microfinance
Bank, Economic Development Board (EDB)
and Bahrain Chamber of Commerce and
Industry (BCCI).
INJAZ Bahrain
launches Young CEOs
Programme
Shaikha Hessa Bint Khalifa Al Khalifa
INJAZ Bahrain
In keeping with its long-term vision to
enhance and leverage on the Company
Program to make it one of our most sought
out programs for schools and universities,
INJAZ Bahrain has newly introduced the
”Young CEO’s Programme.”
The program gives the student CEO’s
of the Company Program the opportunity
to network with top executives from
diverse backgrounds, industries
and countries, gain valuable market
knowledge and develop understanding
of the roles and responsibilities of top
executives represented by the INJAZ
Board Members to pave the way for
these youngsters to become successful
leaders of the future. INJAZ Al-Arab and
INJAZ Bahrain will hold this year’s Young
Entrepreneurs Competition in Manama
during the last week of Novembe 2016.
INJAZ Bahrain Company programme,
comprised of business, entrepreneurship
and economics lessons for students aged
16-22 in high schools and universities.
Students identify a market
opportunity, develop a product, conduct
a feasibility study and raise capital by
selling stock.
Each studet company elects its own
managers and must work as a team to
successfully develop, market and sell their
product or service.
By 2020, between 80 and 100 million
jobs must be created in the Middle East
and North Africa (MENA) just to maintain
current unemployment rates. INJAZ
Bahrain promotes entrepreneurship
education training in the Kingdom of
Bahrain, working with the Ministry of
Education.
May 2016
57

Government
Bahrain ranks Third for
Expatriates
Jameel bin Mohammed Ali Humaidan
Labour and Social Development Minister,
and Chairman of the Board of Directors of the
Labour Market Regulatory Authority (LMRA)
The Kingdom of Bahrain has ranked
third in the Arab world, and 23rd
in the world as the best country where
expatriate workers enjoy living, a survey
conducted by InterNations revealed.
InterNAtions asked 14,000
respondents from 200 countries and
overseas territories a range of questions
on life abroad. Questions focused on
essential topics, mainly on the costs of
living in host countries, daily expenses,
family income, real estate prices, costs
of education and transport, as well as
reasons for going abroad.
Commenting on the results of the
survey, Labour and Social Development
Minister, and Chairman of the Board
of Directors of the Labour Market
Regulatory Authority (LMRA), Jameel
bin Mohammed Ali Humaidan, affirmed
the kingdom’s top ranking in the reports
of specialised international institutions
workers in accordance with the
standards of the International Labour
Organisation (ILO). Advanced legislation
and laws have made Bahrain among the
best destinations for expatriate workers,
he said.
The minister added that it also the
result of the sound vision of His Majesty
King Hamad bin Isa Al Khalifa, and the
economic and fiscal policies adopted
by the government, led by HRH Prime
Minister Prince Khalifa bin Salman Al
Khalifa, and supported by HRH Prince
Salman bin Hamad Al Khalifa, the Crown
Prince, Deputy Supreme Commander
and First Deputy Premier.
Bahrain’s Non-oil sector
now accounts for more than
80% of real GDP
Bahrain’s non-oil growth reached
3.9% in 2015 according to the latest
Bahrain Economic Quarterly (BEQ)
issued by the Economic Development
Board (EDB), whilst overall GDP growth
for the year was 2.9%.
Despite the broader regional
economic challenges, growth remained
positive across all the non-oil sectors,
with construction (6.4%), social and
personal services (primarily private
education and private healthcare)
(6.9%), and hotels and restaurants
(7.3%) all achieving strong year-on-year
growth. The private sector remains a
vital factor in the Kingdom’s continuing
economic growth profile, contributing
nearly 3% to the overall growth figure for
the year.
The oil sector share of real GDP
fell to only 19.7%, demonstrating
the success of Bahrain’s economic
diversification efforts. Financial
services (16%) and manufacturing
(15%) continue to account for sizeable
elements of the economy with
government services (13%), construction
(7%), transport and communications
(7%), social and personal services (6%)
and real estate and business activities
(6%) all playing an important role. The
total value of the non-oil goods export
stood at approximately $17.5 billion
in 2015, whilst since 2010, the value of
non-oil goods traded internationally
has grown by around 19%.
Significant infrastructure
investments have continued to
progress. The total value of projects
tendered reached $3.8 billion by the
end of March 2016, with the pick-up
particularly evident in projects relating
to the GCC Development Fund, in areas
such as housing and the utilities sector.
The first quarter of 2016 has also seen
a number of further developments in
the manufacturing sector, including
various acquisitions and joint venture
agreements completed by Mumtalakat
and the commencement of construction
of Mondelez’s new facility in Bahrain.
Domestic credit growth in Bahrain
has continued at a brisk pace in spite
of indicators of liquidity tightening in
much of the GCC region. Total credit
growth peaked in the final quarter
of 2015 at a 10% annual pace, with
the largest segment, business loans,
increasing by 5% year on year.
Mr. Khalid Al Rumaihi, Chief
Executive of the EDB, commented on
the findings of the BEQ report: “Despite
the continued global challenges, a
range of different indicators continue
to demonstrate the resilience and
potential of Bahrain’s economy. The
non-oil sector accounts for more than
eighty per cent of the economy and the
private sector contribution to growth
continues to expand, showing the
success of our long-term diversification
efforts. The positive outlook is
underpinned by Bahrain’s supportive
business environment for investors,
including a favourable tax regime,
competitive operating costs and an
experienced and educated workforce.”
58 May 2016

June 2016
Open
Invitation
Time: 10AM - 10PM
Bahrain Exhibition Centre Hall (1)
All Women Needs Under One Roof
SPONSOR:
OUR MEDIA
SPONSERS:
ORGANISER:
OUR ASSOCIATE SPONSORS:
H A N D B A G S & A C C E S S O R I E S
To participate, please contact: Tel: +973 77 33 33 39, Mob: +973 33 82 55 61
May 2016
Med Point Medpoint_Design Medpoint Design @med_point www.medpointdesign.com
59

Highlights | Banking & Finance
GFH Group Partners Abu
Dhabi Financial Group
Hisham Alrayes, CEO of GFH (left) with Jassim
Alseddiqi, Managing Director and CEO of ADFG
Integrated Capital (IC), the capital
markets arm of Abu Dhabi Financial
Group (ADFG) has raised its stake in
Bahrain-based GFH Financial Group
(GFH) to 10 per cent.
The signing ceremony took place
between Hisham Alrayes, CEO of GFH
and Vice Chairman of FCC, and Jassim
Alseddiqi, Managing Director and CEO of
ADFG and Chairman of Integrated Capital,
at ADFG’s headquarters in Abu Dhabi,
GIB's low volatility equities
Gulf International Bank (GIB) is
now able to offer low volatility
and protected strategies on global and
regional equities.
Bouts of elevated volatility and large
swings in sentiment in some markets in
recent years have caused large swings
in profit and loss for investors who
are also faced with potential losses on
investments. In response to this, GIB,
through its London based subsidiary
GIB UK, announced that for institutional
investors, it can now offer a range of
solutions for portfolios that aim to
experience lower volatility than the
market, can have an element of downside
protection and can have that downside
protection automatically move up when
markets rise.
Jeff Woolsey, Senior Equity Portfolio
Manager at GIB UK commented:
“Currently we run around USD10bn in
equity strategies, but we have recognised
that not all clients want to be fully
exposed to swings in the market. This
suite of solutions allows us to offer clients
UAE. (GFH) announced that under the
agreement IC will acquire a 10% stake in
Falcon Cement Company (FCC) from GFH.
IC has also expressed an interest
in underwriting FCC’s proposed initial
public offering (IPO) planned on the
Bahrain Bourse later in 2016, which is
subject to the receipt of various internal
and regulatory approvals.
Established in 2008, Falcon Cement
Company (FCC) is a highly recognized
integrated cement plant in Bahrain,
manufacturing Ordinary Portland Cement
(OPC) and Sulfate Resistant Cement
(SRC). Currently, FCC has a production
capacity of 350,000 tons per annum,
which is expected to go up to 850,000 tons
with the upcoming launch of a second
production line by end of 2016. Valued
at US$120 million, FCC is the largest and
only integrated cement producer in the
Kingdom of Bahrain. catering to the local
needs of the Kingdom and reducing its
reliance on imported cement. Besides
supplying their products to the local
market, they also export cement to
customers in the region.
Mark Watts, CFA
Chief Executive Officer, GIB UK
an alternative to straight equity exposure
in a low cost, efficient manner.”
These new products are offered to
institutional investors with USD20m or
above to invest and can be structured on
a range of underlying equity indices from
Global to Regional and even on selected
local markets.
Mark Watts, CFA, Chief Executive
Officer of GIB UK added: “This range is
an important addition to our suite of
solutions for our clients and is a clear
example of how we are able to respond
to changing market conditions and offer
investors solutions that are relevant to
their day to day challenges.”
Financial sector
employment shows growth
Employment in Bahrain's financial
services industry grew by 2.8%
during 2015, with a total of 13877 people
employed at end-2015 compared with
13496 at end-2014.
The main driver of job growth
was the non-bank financial sector
(comprising insurance firms, money
changers, financing companies,
investment business firms, and other
non-bank financial institutions) which
added 287 new jobs, an increase of 5.1%,
taking the number to 5860 employees.
Job growth in the money changers hit
10.8% to 1534 jobs in 2015 from 1384 in
2014. In addition, financing companies
and microfinance institutions
registered a job growth of 8.3% to reach
783 jobs for the same period.
The banking sector underwent an
increase in employment by 1.1%. Total
employment in the banking sector
reached 7553 at end-2015 compared
with 7473 at end-2014.
According to the annual survey
conducted by the Central Bank of
Bahrain (CBB), the Bahraini workforce
employed by the financial services
sector reached 9040 in 2015, an
increase of 152 jobs over the 2014 figure
of 8888 jobs. The proportion of Bahraini
women is 38.2% of total Bahraini
workforce under the financial sector up
from 37.4% in 2013 and 37.8% in 2014.
This reflects the special attention paid
to Bahraini women by the government
of Bahrain to employ and promote
more female workers.
60 May 2016

Banking & Finance
Changing Patterns in
Consumer Spending
Mazin Khoury
CEO, American Express Middle East
Despite economic uncertainties in the
region, it appears there was little slow
down in consumer spending in Bahrain in
2015. The American Express Middle East
Spending Survey which was conducted by
GfK and involved high income households
in the UAE, Oman, Bahrain, Qatar and
Kuwait also revealed a noticeable shift
in spending habits with many focusing
more on the necessities of life. 68% said
they spent more on transport while 62%
allocated more to eating and drinking at
home, and 55% spent less on dining out.
Innovative MasterCard
solution minimizes fraud and
false payment declines
MasterCard launched the IQ Series
at its Global Risk Leadership
Conference in Dubai. designed to harness
real-time insights and intelligence.
The suite of solutions empower card
issuers and merchants to authorize
transactions with increased accuracy and
limit fraudulent activity. The solution is
now available to financial institutions,
businesses and merchants across the
Middle East and Africa.
The initial two products developed
under the series – Authorization IQ and
Assurance IQ – are aimed at optimizing
These shifting patterns also impacted
the amount respondents contributed
towards their savings and pensions with
43% cutting back in this area, and a further
68% indicated they spent more on rent.
Mazin Khoury, Chief Executive Officer,
American Express Middle East pointed
out, “It is evident that people are spending
more cautiously and are focusing on
essentials,” he continued.
Bahraini residents still have room for
luxury spending but still some way behind
Qatar, the region’s highest spenders, where
the monthly average spend on luxury is
more than $4,000.
Holidays rank as the number one
category for luxury spending in Bahrain.
For nearly a quarter of residents (23%), this
is the priority area in 2016 with a further
fifth (19%) planning to spend their money
on fine dining.
Mr Khoury added: “American Express
has been in the Middle East for over 50
years and throughout this time we have
helped our Cardmembers manage their
finances through the ups and downs of
economic change. Whether they use their
cards to pay for their weekly shopping or
a holiday, they have confidence knowing
that our organisation is behind them
providing them with world class benefits,
customer service and security.”
the payment authentication process,
leading to fewer declines in legitimate
transactions and creating more stable
revenues for issuers and merchants.
Authorization IQ provides card issuers
with relative behavioural insights on
spending, such as total spending on
an account compared to others in the
country, spending in a particular segment,
and frequency of card usage compared
over an extended period of time.
Assurance IQ enables the distribution
of positive e-commerce data indicators
between stakeholders. A balanced
reputation assessment is achieved
considering not only transactional risk
indicators but also positive indicators
better determining the authenticity of a
transaction.
Both products supplement the need
for a robust enhanced data exchange
network between financial institutions,
merchants, and issuers to understand the
digital footprint and behaviour of accounts
better.
Trust Insurance
Management approved as
Lloyd’s Coverholder
Kamal Tabaja
CEO, Trust Insurance Management
Trust Re subsidiary, Trust Insurance
Management W.L.L. has been approved
as a Lloyd’s Coverholder. This allows Trust
Insurance Management to write business
in the more than 200 countries in which
Lloyd’s operates, both on an insurance
and reinsurance basis. As Trust Insurance
Management is writing on behalf of
Lloyd’s syndicates, the capital is rated A+
by S&P, A by AM Best, AA- by Fitch and is
backed by the Lloyd’s central fund.
Additionally, Trust Insurance
Management has entered into an
agreement with Novae Syndicate 2007 at
Lloyd’s. The agreement covers Property,
Energy, Liability and Political Violence
business; there is a view to developing
other lines of business in the future.
Commenting on the announcement,
Trust Re’s Executive Council said “On
behalf of Trust Re, we are very excited
about this latest development, Trust
Insurance Management, which will bring
added value through diversification,
to our business partners. Leading TIM
will be Kamal Tabaja, in whom we have
every confidence to drive the team and to
achieve the strategic targets as set out in
the business plan”.
Kamal Tabaja, CEO Trust Insurance
Management, said “On behalf of Trust
Insurance Management, we are confident
that the value-added services offered,
combined with established expertise
from both Trust Re and our underwriting
partners, provides us with a firm base for
the starting point of this new MGA. We
very much look forward to a profitable and
rewarding first year of operations”.
May 2016
61

Banking & Finance
Loan Facility arranged
for Bahrain Commercial
Facilities Company
Ahli United Bank B.S.C. (AUB”), Arab
Banking Corporation (B.S.C.) (Bank
ABC) and Gulf International Bank B.S.C.
(GIB), acting as the Mandated Lead
Arrangers and Book Runners (MLABs),
successfully closed a US$125 million
5-year Term Loan Facility (Facility) on
behalf of Bahrain Commercial Facilities
Company (BCFC). The purpose of the
Facility, which was signed on 14th
December 2015, is for refinancing and
general corporate purposes.
The MLABs were joined by Arab Bank
and National Bank of Bahrain as The
MLABs were joined by Arab Bank and
National Bank of Bahrain as Arrangers.
Chief Executive Officer of BCFC, Dr.
Adel Hubail, thanked all the participating
banks for their support in successfully
closing this syndication. He mentioned
that “The successful closing of this
Facility is a testament of BCFC’s solid
and stable financial standing in the
capital markets as well as sound
business model, strong management
expertise, prudent risk management and
overall growth strategy adopted by the
Company.”
The MLABs expressed their delight
with the closure of the transaction and
wished the borrower continued growth
and prosperity in the future.
Legal & General Gulf is
now Al Hilal Life
Legal & General Gulf announced that
its name have changed to ‘Al Hilal
Life’ effective from 1st April 2016. The
name change follows the change in
company’s ownership in October 2015
with Ahli United Bank B.S.C. acquiring
Legal & General Group’s 50% stake in
Legal & General Gulf. Ahli United Bank
now holds 100% of the company’s shares.
Commenting on the rebranding
initiative, Sanjeev Baijal, Chairman of
the company, said “The change in name
reflects the new ownership structure
and is a step towards realigning the
company more closely to its current
and prospective customers while
maintaining its own identity.” He added
that “Life insurance business is an
integral part of AUB Group’s product
offering and AUB remains committed to
develop the same”.
According to Mr. Baijal, the plan for
Al Hilal Life is to develop from being
primarily a bancassurer in Bahrain into
a more rounded life insurer. AUB has
been a shareholder in the company
since its incorporation in 2009 and has
also experienced success through its
bancassurance arrangement.
The name of Legal & General Gulf
Takaful, a wholly owned subsidiary,
will also be changed to ‘Al Hilal Takaful’
effective 1st April 2016. “The company
will continue to offer Takaful products
through its subsidiary which focuses on
Family Takaful based product offerings
and that will be further expanded
through introduction of new and
enhanced products,” said Mr Abdulla Al
Raeesi, Deputy Chairman.
VC Bank & Seera
Investment Bank announce
acquisition of a real estate
portfolio in the US
Venture Capital Bank BSC (c) and
Seera Investment Bank BSC (c) (The
Consortium) announced the successful
acquisition and completion of the
subscription of a real estate portfolio
consisting of two multifamily residential
assets in Atlanta, Georgia, USA, consisting
of 866 units. This investment marks the
Consortium's first investment in the
US Multifamily sector and has been in
cooperation with a US partner that has
extensive experience in the management
and operation of multifamily residential
assets.
After closely screening and reviewing
many investment opportunities in
various major US metropolitan areas,
the Consortium chose the city of Atlanta,
due to its robust economic factors
which are expected to continue during
the investment holding period. It's
well-known that a large number of the
Fortune 500 companies are headquartered
in Atlanta making it the fourth most
city with headquartered Fortune 500
companies behind New York City,
Houston, and Dallas. Atlanta is witnessing
strong population and job growth and
represents an attractive real estate market
with high potential for further rental
growth and value appreciation, which
will positively enhance the value of the
investment.
Bridgewater property sits on a 260,000
square meters gated land and consists
of 532 residential units spread over 36
residential buildings, while Preston Creek
property sits on a 206,000 square meters
gated land consists of 334 residential
units spread over 19 residential buildings.
Both properties have excellent locations
in Atlanta and feature a wide range of
recreational facilities within its lush
garden-style community.
The Consortium announced that
the portfolio's attractive returns enabled
the full successful placement with their
investors in the GCC. Furthermore,
the performance of the properties in
the portfolio for the first quarter has
been consistent with the projections
and therefore, it was able to distribute
the projected yield amounting to an
annual cash on cash return of 8.5%, to
investors participating in this investment
opportunity.
62 May 2016

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May and
2016 Asia.

Highlights | Telecom
Batelco Welcomed to
World Teleport Association
Adel Al-Daylami
Chief Global Officer, Batelco
Batelco, the region’s prime teleport
services provider, has been welcomed
by The World Teleport Association
(WTA) as an Industry Patron Member.
The support of Industry Patrons such as
Batelco makes possible WTA’s research,
publishing and cooperative development
programmes. Batelco also recognizes that
the satellite industry is a key catalyst for
the Bahraini economy, as it services a
number of verticals including maritime,
oil and gas, enterprise and broadcast.
Cloud Productivity Solution
for SMEs
Mike Stanford
Chief Marketing Officer, Batelco
Batelco is enhancing its Cloud
Solutions portfolio by introducing a
Cloud Productivity Solution for the SME
segment. The productivity solution has
been developed to help small and medium
enterprises enhance their productivity
and efficiency by providing them with a
complete set of cloud-based applications
to run and automate their operations.
These sophisticated applications were
previously restricted to large enterprises
due to the high cost and skills required to
maintain them.
Batelco, the Middle East’s prime
teleport services provider, provides
world-class teleport services to satellite
operators. Batelco’s teleport boasts a
30,000 square metres of operational
area with partners gaining access to
the telecom’s MPLS, SDH national,
international networks and Internet
uplinks. The teleport presents an
optimum choice for satellite and VSAT
operators around the globe as it can run
any application on any topology.
Batelco’s diverse and resilient facility
also features seamless integration with
terrestrial networks and provides full
support for satellite and VSAT operators
to streamline their operations efficiently.
Batelco encourages these operators to
diversify their service offerings, as the
teleport allows them the ability to offer
more services to end-users.
Batelco Chief Global Officer Adel
Al-Daylami said, “This prestigious
membership is testament to Batelco’s
reliable connectivity and bespoke
solutions provided to the satellite and
VSAT operators.”
Batelco’s Cloud Productivity Solution
for SME’s is an all-in-one product that is
easily accessible from anywhere at any
time, with prices in line with the budget
of an SME business. The solution features
a number of productivity and efficiency
enhancing tools such as: Customer
Relationship Management; Accounting
& Inventory; Resource Management
solutions, plus more. Additionally, Batelco
has a team of technical experts offering
consultation services for business
customers, and experts are available to
customise innovative solutions for each
business.
As the innovation driver in Bahrain,
Batelco was the first in the Kingdom to
launch a series of Cloud-based services.
Batelco Chief Marketing Officer
Mike Stanford said, “Our customers look
for cloud solutions that are flexible and
scalable that will enable them to better
manage their operational costs. We are
committed to enabling our customers to
accelerate their digital transformation
while reducing their costs and enhancing
their operations and we believe that the
Cloud Productivity solutions will support
our efforts.”
Customers Alert to
Fraudulent Calls
Batelco has issued a warning to
customers to be on the alert for
fraudulent calls informing them that
they have won a large sum of money.
The calls are being generated from a
variety of Bahrain and international
mobile numbers and a number of
Batelco’s customers have been in touch
with the company to enquire about the
validity of the information.
“A number of our customers
have received calls with the callers
claiming to be Batelco management,
and advising our customers that they
have won a cash prize. Furthermore,
the callers are requesting personal
information such as name, bank
account details and CPR numbers to
arrange payment of the money,” said
Batelco’s Chief Marketing Officer
Mike Stanford. We strongly advise our
customers that these are fraudulent
calls. Batelco will never ask for bank
account details, passwords or any
personal details of this nature.
“Typically these messages ask
for information about customers’
user names and passwords but these
recent messages try to attract people
by the promise of a big cash prize. We
advise anyone who receives such calls
to either ignore them or report the
incident to our 196 Helpdesk.”
Batelco always uses a professional
process to contact its customers to
inform them when they have won
a prize and the customer would
always be invited to Batelco’s Hamala
Headquarters or a Batelco Retail Shop
to collect any prize in person.
64 May 2016

Telecom
VIVA introduces
‘Connected Life’ home
solutions
VIVA Bahrain, is introducing Home
Automation devices under Bahrain’s
first-ever connected solutions, “VIVA
Connected Life”.
VIVA is addressing home security by
introducing cameras programmed to send
intelligent alerts with high-definition
video and audio directly to smartphones.
The Canary all-in-one home security
system is armed with multiple sensors
and a high-quality camera that enables
customers to live stream and record
events when motion is detected. It also
monitors air quality, humidity levels and
Bahrain’s first Mobile
Health device
As a part of its host of Smart digital
solutions under VIVA Connected Life,
VIVA Bahrain is introducing its customers
to VIVA Mobile Health Kit in partnership
temperature in the house. Customers can
also enjoy the Netatmo home security
camera with face recognition technology,
which notifies them via high quality
videos when a visitor is at home.
Complementing the cameras, VIVA
is also introducing one of the strongest,
most intelligent Bluetooth enabled locks
available in the market; the Schlage Sense
smart deadbolt, which offers access to
the house with an access code on its
illuminated touchscreen or via mobile
device.
Moreover, the Ecobee 3 Smart Wi-
Fi thermostat offered by VIVA allows
customers to save an average of 23%
of their yearly energy costs, while
enjoying improved heating and cooling
with King Hamad University Hospital
(KHUH) and iHealth®. The kit comprises
of an award-winning blood pressure
monitor and glucose monitor that sync
directly with free mobile applications,
helping customers monitor, store and
share their health vitals on-the-go.
In addition to making it easy and
convenient to check blood pressure and
glucose levels anytime and anywhere,
the VIVA Mobile Health Kit automatically
keeps a history of data and provides
customers the option to share it with
doctors and caregivers. Ensuring accuracy
and reliability, the monitors are FDA
approved in USA, CE compliant in Europe,
TGA approved in Australia and approved
by Health Canada.
performance at their homes. In addition,
the intelligent wireless lighting system by
Phillips Hue allows easy control of colour
and brightness of the lights. Choosing
from 16 million colours and synching light
to music and movies, VIVA customers can
discover endless possibilities with their
lights.
Customers can get the VIVA Mobile
Health Kit for only BD 75 and benefit from
a complimentary 50 per cent discount
voucher on the first private clinic visit
charge to Dr. Dalal Al Romaihi, Consultant
Endroconologist, KHUH. In addition,
customers are given 50 per cent discount
on six different laboratory tests at KHUH.
iHealth® is a leader in the design
and development of mobile personal
healthcare solutions that focus on heart
health, diabetes and wellness. The
company focuses on creating innovative
health solutions that combine easy-touse,
FDA approved devices with powerful
mobile apps to simplify consumers’ lives
and empower them to manage their health
and wellness.
Scam and spam callers
targeted
In line with its longstanding
commitment to safeguard the trust of its
customers, VIVA Bahrain is taking the lead
against the recent breakout of fraudsters
that have appeared on the surge of scam
calls targeting customers. The company
is reaching out to combat the issues on
rise by first raising awareness among its
customers.
The three most prevalent matters
witnessed among VIVA customers are
international ghost calls, lottery calls
and calls from fraudsters disguised as
VIVA employees on mobile messaging
applications like WhatsApp or IMO Instant
Messenger. All are known as scam and
involve imposters requesting sensitive
details in a variety of ways to steal.
As a part of VIVA’s preventive
approach, customers are urged to not
share CPR numbers, confidential pin
codes, credit or debit card details or
any personal details over the phone on
suspicious occasions. Scammers may
use this information to commit different
acts of theft that involves stealing directly
from the customers’ banking accounts or
redeem prepaid vouchers.
VIVA also advises customers to
reject international calls from unknown
numbers and avoid dialing them
back even through mobile messaging
applications. In an effort to crack down on
the number of scammers and put the issue
to an end, VIVA is requesting customers
to report a complaint against any case of
spam or scam to VIVA’s customer care line
124. Details including the scam number,
method of use as well as the time and date
of call or message are of high importance
in combating the issue.
VIVA has clarified that it only calls its
customers through its official customer
care channels.
May 2016
65

Telecom
Zain Bahrain and Capital
Club Renew Ties
Zain Bahrain, the most innovative
operator in the Kingdom,
announced that it has renewed its
partnership with Capital Club Bahrain,
the Kingdom's Premier Private City
Club.
The partnership will focus on
benefiting Club Members and affiliates
by supporting a calendar of selected
events for sponsorship that will include
an exclusive series of business forums
and keynote speaker occasions, along
with social and networking events.
"2015 was a great year for Zain
Bahrain with a lot of new initiatives
taking place. This year is no different;
and we are driven to deliver innovative
Mohammed Zainalabedin, General Manager,
Zain Bahrain (left) with Dina Haikel, General
Manager, Capital Club
and best-in-class services and
products to our customer base," said
Mr. Zainalabedin adding that "Our
partnership with Capital Club allowed
us to add great value to our end-users
by partnering with key organizations
in the Kingdom and empowering the
business community. We look forward
to another successful year."
"We are happy to renew our Zain
Bahrain partnership, and look forward
to our future collaboration" said Dina
Haikel, General Manager of Capital
Club.
A signing ceremony was held at
the Capital Club and was attended by
Mrs. Haikel along with Zain Bahrain's
General Manager, Mr. Mohammed
Zainalabedin, Deputy GM & Director
of Membership Mr. Ziad Kehdy, along
with senior members of Zain Bahrain,
including Sales and Customer Care
Director, Mr. Arslan Khan, Corporate
Communications Manager, Mrs. Samya
Hussein.
Kalaam Telecom and
Gulf CX sign continuing
Partnership
Kalaam Telecom, the second largest
telecommunications provider
for corporate services in Bahrain,
announced its partnership with
Gulf Customer Experience (Gulf CX),
the new leader in Digital Business
Process Outsourcing (BPO) in the GCC.
This partnership enables Gulf CX to
seamlessly engage with customers
across multiple channels, utilizing a
cloud contact center infrastructure
to provide a seamless customer
experience.
Kalaam’s redundant solution
ecosystem with The-Next-Generation-
Technology provides co-location with
multiple datacenters, MPLS links over
fiber and microwave connectivity, local
and International voice services that
support inbound and outbound calls,
two way SMS services and business
continuity planning (BCP).
Mr. Veer Passi, CEO of Kalaam
Telecom stated: “Kalaam intends to
play a significant role in meeting the
Economic Vision 2030 by facilitating
and supporting the growth of
emerging industry segments like
BPOs in Bahrain. The flexible network
deployment allows startups like Gulf
CX easy scalability based on business
needs and aligns with Kalaam’s
product portfolio, offering a one-stop
solution to this sector.”
As the first provider of a fully
cloud based omni-channel contact
center, Gulf CX integrates CRM,
social media marketing, ticketing,
geo-fencing and analytics solutions.
According to Rami Sweis, CEO of
Gulf CX, “Our clients engage with us
for reliable and innovative customer
experience solutions, and they have
high expectations in terms of business
continuity and quality of service.
We are committed to deliver on our
promises and have offered superior
service from day one.”
Top HRD Award for Zain
Bahrain
Zain Bahrain received the Best
Human Resource Innovation
Strategy Award on behalf of Anatolian
Inventions and Inventors Association
during the International Inventions Fair
Award held in Turkey Amina Hawaj,
organizational innovation and human
resources Manager at Zain Bahrain
received the award on behalf of the
company.
It is worth mentioning that
Zain Bahrain purses creativity and
innovation as a main pillar in its
strategy and will continue to position
itself as the most innovative telecom
company in the kingdom.
66 May 2016

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Let us offer you a traditional island welcome.
Let us wrap you in our world of exquisite luxury.
Let us delight your children daily with the unexpected.
Let us bid you a fond farewell and a welcome return.
BD157*
Intrigue You – The ideal package to create fond
memories for the entire family.. Includes breakfast for
two and third night complimentary. For reservations,
call The Ritz-Carlton, Bahrain at (+973) 1758 8000 or
visit ritzcarlton.com/bahrain.
Rate is per room/per night, based on single or double occupancy,; cannot be combined with any other offer and is not applicable for Rewards redemption. Breakfast is in La Med restaurant only. Advanced
reservations are required. Void where prohibited. Offer is subject to availability.
May 2016
67

Highlights | Real Estate
Tala Island 60% stake
Sold
Bahrain-listed investment firm,
Inovest, announced on Wednesday
that it sold its entire 60% stake Tala
Island project to Ossis Property
Developers Company for US$7.7
million, which will now retain complete
ownership of Tala Island. The decision
to exit the project comes after Inovest
achieved its objectives by successfully
completing the development in 2007,
selling 100% of its residences, and
managing its facilities and operations
till date. Tala Island, an exclusive US$
120 million cosmopolitan community
development located at the heart of
Amwaj Islands and covering an area of
110,000 square meters, was developed by
Inovest’s real estate and development
arm, Tameer in collaboration with Ossis,
in 2005 and was completed in 2007.
The divestment proceeds have been
anticipated in the Group’s first quarter
2016 financial results and are part of the
Group’s strategy towards the sale and
exit of legacy investments. Mr. Murad
Al Ramadan, CEO of Inovest noted that
the transaction crystallizes the value
contribution of Tameer within the real
estate investment and development
community and strengthens the
Group’s financial position. Mr. Jameel
Al Matrook, Managing Director of Ossis,
affirmed their pleasure at the mutually
beneficial joint venture. The sale is
considered an indicator of general real
estate market improvement and the
return of investor confidence.
Strategic partnership
heralds good news for
customers
Leading real estate and development
company, Naseej BSC (c) signed an
agreement with BBK; Bahrain’s pioneer
in retail and commercial banking
services to extend key services and
added benefits to Naseej customers.
BBK will offer value to Naseej’s
customers on mortgage finance
facilities, personal loans as well as
insurance coverage.
Naseej BSC (c) offers a range of real
estate products to property purchasers
both in Bahrain and the GCC. Under
Ahmed Al Hammadi, GM, Naseej (left) with
Mohamed Malik, GM, Retail Banking, BBK
the terms of this latest partnership,
customers of Naseej will benefit from
a range of banking services offered by
BBK and its subsidiaries at competitive
prices. Features of this pack include
attractive rates on mortgages
facilities, personal loans, life and home
insurance cover policies all of which
will be offered directly by BBK.
Mr. Ahmed Al Hammadi, General
Manager, Naseej and Mr. Mohamed
Malik, General Manager of Retail
Banking, BBK spoke in appreciation
of the strategic partnership which
would herald a new era of service
excellence to our customers. Naseej
will have a member of staff based at
BBK’s Financial Mall in Budaiya that
will work alongside a BBK employee to
serve customers with their real estate
requirements.
RMK launches new
residential tower
Bahrain’s RMK Projects, a division of
RM Kooheji & Sons, has launched
its latest development, a freehold
residential tower in Juffair area of the
kingdom. The 26-storey tower offers
two-, three-bedroom apartments and
two-bedroom duplex apartments with
parking spaces and amenities.
The $30-million Nasmah Star is
the company’s third project in the
Nasmah line of affordable residential
projects, said RMK Projects CEO Ishaq
Kooheji, at the official launch last
month. Committed to the vision “where
elegance meets affordablity”, the
Nasmah line offers affordable housing
solutions without compromising on the
quality of materials and fittings used,
stated Kooheji.
Located in the heart of Juffair, the
property is within walking distance of
major supermarkets and the vibrant
Juffair ‘food street’, with easy access
to major highways. All apartments
offer excellent city or sea views,
addeed Kooheji. The tower offers 137
freehold residential units, ranging
from BD49,000 to BD60,000. Residents
will benefit from conveniences like
three parking levels and a host of
modern recreational amenities such
as fully equipped gym, swimming pool,
steam room and sauna, and a pool
table. It was also stated that RMK has
reached an agreement with Khaleeji
Commercial Bank for mortgage
financing and that more banks are
expected to join soon.
68 May 2016

Real Estate
SSH awarded Diyar
Al Muharraq infrastructure
works
SSH, the leading master planning,
infrastructure, building design,
construction supervision and project
management firms in the Middle East,
was recently awarded the Secondary
Infrastructure Works in Assets 13A, 23B
and 24, on the north eastern coast of
Muharraq Island, by Diyar al Muharraq.
SSH scope of services include design
and supervision of roads, combined
potable and firefighting, foul sewer, storm,
treated sewage effluent, electrical, street
lighting and telecommunications to three
assets totaling over 1 million sqm in area.
Fontana Gardens
scheduled for Completion
Al Kooheji Group firm, The Developers’
BD40 million Fontana Gardens
comprising 13 apartments or 57,523sqm
of residential area spread across three
towers is set for completion on schedule,
Royal Ambassador Property Management
and business development general
manager Eman Al Mannai told a media
briefing at the Fontana Towers in Juffair.
Ms Al Mannai said the project is
almost fully sold off-plan and nine types
of mock-up apartments are ready. Key
features of the project include a mini
golf course with eight holes, largest sky
infinity pool, large Turkish bath, 24 hours
CCTV security, 24 hours reception and
concierge service, indoor swimming pool
and kids water splash playground.
The company said BD1m was spent on
landscaping of the sky garden alone. The
starting price is BD600 per square metre
and Royal Ambassador is assuring net
Muharraq Island is a reclaimed
area that is planned as an eclectic
mix of residential and commercial
developments composed of residential
villas, investment buildings, community
retail centre, mosque and public open
spaces.
SSH have recently won a string of
infrastructure projects in the Kingdom,
following the mobilisation of an
infrastructure team that will cater to
the growing infrastructure demand of
Bahrain.
“This award is a clear vote of
confidence in our local capability and
our in-depth understanding of the
requirements of the Kingdom of Bahrain
and it’s Ministries” said Mark Jamieson,
Infrastructure Director at SSH.
Andrew Barwick, Resident
Director at SSH, commented: “.With
our internationally acclaimed design
and supervision teams we can address
technical queries and interface with
Clients and Authorities at a moment’s
notice. We understand the importance of
our Clients being able to advance their
projects and promote new residential and
commercial areas in good time, allowing
them to be in a strong position to meet
the increasing demand of the market.”
rental return of at least 8-10pc.
“As an additional service, we are
offering top notch interior design service
by international interior designers, we are
charging for production only.”
According to Ms Al Mannai , investors
in the project are from 26 different
nationalities, which confirms that Bahrain
is still one of the better markets for real
estate investment.
The group is very upbeat on Bahrain’s
real estate sector and has projects lined up
in Amwaj Islands and Seef.
Bin Faqeeh launch new
luxury project in Bahrain
Bin Faqeeh Group, a leading real estate
investment firm, is set to break
ground on Layan, a luxury residential
property with a private water park coming
up at Durrat Marina, one of the most
distinguished projects in the Gulf and is
currently valued at $1.3 billion.
The project’s design features a
centralised water park fully encompassed
within the grounds of a residential
complex having more than 200 homes
ranging from studios, one-, two- and
three-bedroom apartments, duplexes,
penthouses and villas.
It will include serviced apartments,
branded residences and villas alongside a
retail strip with food and beverage outlets
facing the main quay walkway and a
multistorey car park.
The property prices at the Layan begin
at BD55,000 ($144,928) onwards, said a
statement from Bin Faqeeh.
A star attraction for the investors is
that each villa in Layan comes with a
combination of a luxury yacht and a car,
it stated. Work on the project will start
by month end with completion expected
approximately 24 months from now, said a
company official.
To celebrate the launch of The Layan
project, Bin Faqeeh had organised the
kingdom’s first “Dining in the Sky” event
which was followed by a two-day carnival
packed with activities and entertainment.
The Layan project unique features include
picturesque landscaping, in-water movie
theatres, in-water restaurants and a wave
pools with a surf area.
May 2016
69

Real Estate
Dragon City partners
sign new deal
signing ceremony was held to
A announce a new deal for supplying
high quality Made in China products
and developing an e-commerce
business model for GCC countries. The
agreement was signed by ChinaMet
and Hi-Mart and supported by
Dragon City’s management company
Chinamex.
Since its inauguration in December
Bahrain projects win
major Quality Awards
Bahrain won high honours when seven
of its highest quality projects were
named national winners at the MEED
Quality Awards for Projects, in association
with Mashreq.
Bahrain’s national winners, whose
combined project value is estimated
at more than $787 million, include the
Bahrain Four Seasons Project, entered
by Six Construct, as Leisure and Tourism
Project of the Year; Youth and Sports
Affairs Ministry’s Hala Club Project as
Small Project of the Year; Muharraq
Sewage Treatment Plant and Sewer
Conveyance System Project, entered by
Arcadis, as Power and Water Project of the
Year; and Tatweer Petroleum’s Light Oil
Steam Flood Project as Oil and Gas Project
of the Year, sponsored by Parsons.
Bahrain Property Mushakara Trust’s
Danaat Al Madina Project, entered by
last year, Dragon City has succeeded
in attracting large crowds of visitors,
exceeding all expectations, as it
continues to draw substantial numbers
of customers from the Kingdom of
Bahrain and its neighboring countries.
According to experts in this domain, a
promising project such as Dragon City
will boost the status of the Kingdom
of Bahrain as a prominent trade and
financial center in the region and will
play the role of a stimulant in opening
gateways to commercial activities and
investments in the region.
Eskan Properties Company, scooped a
trio of national trophies in the following
categories – Sustainable Project of the
Year, sponsored by Besix; Residential
Project of the Year and Mixed-use Project
of the Year.
This is Bahrain’s best performance in
the awards, with seven projects winning
the national winner accolade compared
with five in last year’s edition. They will
now compete at the regional level against
national winners from Kuwait, Oman,
Qatar, Saudi Arabia and the UAE for GCCwide
recognition in various categories.
The winners of the 2016 MEED
Quality Awards for Projects will be
announced at a ceremony on May 25. For
more information on this year’s awards
programme, please visit www.MEED.com/
MQAP.
Sofitel leads the way in
Bahrainization efforts
Sofitel Bahrain Zallaq Thalassa Sea
& Spa, a luxury resort from ACCOR
group is debuting its 5th year in the
Kingdom of Bahrain. Boasting 262
rooms facing the Mediterranean sea and
reflecting the cultures of both the native
Arabic & French elegance's fusion this is
the first Thalassa facility in the region.
Sofitel Bahrain Zallaq Thalassa Sea & Spa
intends to further promote tourism in the
kingdom through individually tailored
hospitality services provided to each and
every guests who visits.
As a hotel who definitely believes in
the country’s Bahrainization crusade,
Sofitel supports Bahraini staff in the hotel
by providing exciting and rewarding
privileges as they join the multinational
employees of the hotel thru the Flower
Program carefully and specially designed
for the growth of Bahrainization in the
hotel.
The hotel offers almost 20% higher
than the basic salary required by the
Ministry of Labor for Bahrainis as
compared to other hotels in the kingdom.
Being a French based company, the
linguistic aptitudes of staff is broadened
with English & French basic lessons,
internally provided. Training locally
and abroad are provided as well in the
view of honing further their potential
in the world of hospitality. Coordinating
with Tamkeen (thru CPP program) & BTI
for various projects to maximize the
development of Bahrainis in the property.
Support is also provided to Universities
in the kingdom with Internship programs
to accommodate talented Trainees.
Also, in coordination with the Tamkeen
and the Bahrainization, Career Weeks
are held in the property welcoming
Bahraini aspirants to start their journey
in hospitality. All of these methods
have been incorporated with the Flower
Program in the view of achieving and
hopefully exceeding the 20% required
percentage of Bahrainis with us.
70 May 2016

eeling our
heritage into
tomorrow
photography & videography services
khalifashaheen.com +973 17 593993
May 2016
71

Highlights | Technology
Naser Shahrour
General Manager, MECOS
Building Automation
& Smart Home Benefits For
Real Estate
What can Building Automation &
Smart Home Systems add to real
estate developers, investors and
owners?
High competition in real estate
market and reselling, and growing
desire to invest in that sector, make
the customer always search for unique
properties.
Due to strong competition in
real estate sector, and rapid growing
companies of construction and real
estate investment, customer is no longer
able to distinguish between companies,
hence he focuses on the property
itself, or the so-called added value of IT
services and applications whether for
security or entertainment. Smart Home
technology is the added value which
make you real estate project unique and
more attractive for the customer.
Home automation Systems increases the
value of your home!
When selling a house, does home
automation add to the home’s value? The
answer is absolutely yes.
If you’re looking to make your
apartment more appealing, having a
home automation system goes a long
ways toward making a strong first
impression, Distinguishing your home
from others on the market is essential
in selling your home quickly and getting
the price you want.
Imagine you are showing an
apartment to a customer and picking
up a remote control to open the curtains
and turn off the lights with a single
click. Any buyer unfamiliar with home
automation is going to be immediately
intrigued.
You’ve just created interest and made
your house memorable in the buyer’s
mind. Any buyer already familiar with
home automation is going to remember
your home as a fellow home automation
enthusiast.
Home Automation Will Save You
Money!
Even though home automation
requires some expenses to get started,
if you give your system design
some thought, you’ll find the longterm
benefits can far outweigh your
financial investment. The obvious
ways are by reducing electric and
heating bills. Installing a home
automation security system can
eliminate costly charges to secure your
home. Installing a home theater or
whole house sound system can reduce
the number of times you go out each
month for entertainment.
Home Automation is the way of the
future
Home automation products are
becoming a part of our everyday lives.
Home automation products installed
in new housing developments are
becoming commonplace. Home
security systems that can be remotely
monitored by the home owner are
increasing at unprecedented rates.
Downloadable media to be displayed on
home theater screens are putting video
stores out of business. The newest
technologies of today are the everyday
applications of tomorrow. Investing in
home automation allows you to lead
the way instead of following.
BE SMART SAVE YOUR MONEY.
72 May 2016

Technology
Highest number of
internet users in Bahrain
Bahrain has a high percentage of
Internet users when compared to
other Gulf Cooperation Council (GCC)
countries, according to data published
by Internet World Stats. According to the
data, Internet penetration in Bahrain has
reached 96.4 per cent while it is 93.2pc
in the UAE, 91.9pc in Qatar, 78.6pc in
Oman, 78.7pc in Kuwait and 65.9pc in
Saudi Arabia. The Telecommunications
Regulatory Authority (TRA) in the
Kingdom of Bahrain recently finalised
the “National Internet Safety Review”
study, which shed light on various areas
Microsoft Windows
Quietly Announces 7 lifetime
Microsoft quietly announced the
end date for Windows 7 bringing
a wave of nostalgia to fans habituated
to the older operating system. The
announcement will affect the sale of
computers with the operating system
pre-installed, but it also listed two
further dates when support will be
cancelled.
According to their Windows
Lifecycle Fact Sheet page, the sale of
new Windows 7 Professional machines
from authorized retailers will end on
October 31, 2016; the sale of Windows
7 Home machines ended last year in
October. The end of the support for the
OS was January of this year for the
mainstream support, with the end of
of online behaviour in the Kingdom. TRA
commissioned UK-based independent
researchers Professor Julia Davidson
and Professor Elena Martellozzo to
conduct the study. They compared the
results to an earlier study held in 2010.
“Compared to our findings in 2010, it’s a
relief to see that the levels of awareness
to online risks have increased. It
is, however, concerning to see that
cyberbullying has accumulated a high
percentage. This is something that will
require greater collaboration between
both government and private sectors
to address as we all have a stake in
this matter,” said Dr Khalid bin Duaij Al
Khalifa, TRA’s Director of Cyber Security.
extended support coming around in
January of 2020.
Interestingly, Windows 8 has a weird
end of life schedule, too. Windows 8 preinstalled
machines will leave the market
before the end of the run for Windows
7 Pro, as retail sales of the devices will
cease on June 30, 2016. Windows 8.1
machines get to hang on a little longer,
ending on the same date as the sales of
Windows 7 Pro machines, October 31.
The end of mainstream support for 8.1
will be in January of 2018, with extended
support ending in January of 2023.
Interestingly, Windows 10
mainstream support is slated to end in
five years; extended support will end in
ten years.
Samsung Safety Screen
application protects mobile
users eyes
Samsung has launched of the Safety
Screen application that helps users,
especially young children, hold their
mobile devices at an ideal viewing
distance from their eyes.
Available to all Android devices on
the Google Play store and also on the
Samsung Galaxy store, the Safety Screen
runs in the background on mobile
devices and can even be passwordenabled
by parents. Employing
advanced facial recognition software,
a friendly animation pops up shutting
down the screen when the device is
held too close the eye, unlocking only
once the device is held at the minimum
recommended safe distance.
According to the Vision Council*,
there is an increase in myopia that
scientists attribute to a mix of genetic
and environmental factors, including
increasing near-range activities such as
the use of digital devices, and decreasing
exposure to natural light through
outdoor activities. Digital eye strain can
also affect children and teens, whose
eyes may fatigue after long periods of
use.
The Samsung Safety Screen
application has already been awarded
at the recent Dubai Lynx awards.
Earlier this year, among other regional
innovations, Samsung introduced
KalimaLock - a smart application
aimed to revive the use of the Arabic
language among younger audiences.
The Samsung-developed KalimaLock
application teaches users to write and
pronounce words in Arabic, as well as
providing their many meanings and
connotations.
May 2016
73

Technology
Tool for Amateurs and
Experts to design Gear S2
The Gear S2 smartwatch is designed
to enhance the everyday life of the
consumer by providing convenient
access to essential and customizable
content right from one’s wrist like
measuring and monitoring fitness and
diet data at a glance, or keeping a close
eye on the big game. However, there is
always room for creativity.
The Gear Watch Designer allows
anyone interested in creating a Gear
S2 watch face to design, produce and
distribute their own using a variety of
editing tools. While such a program may
sound complicated, users don’t need to
be professional coders or designers to
use it.
Utilizing a basic UI, the program
lets users choose from a selection of
design elements, such as watch hands
and backgrounds, to create their own
watch face. Additionally, they can
also upload their own designs created
with professional programs like Adobe
Photoshop and Illustrator, and apply
them according to their preferences.
YouTube displays the
world at 360 degrees
YouTube on Monday announced the
rollout of live-streaming 360-degree
video and spatial audio, part of the
company's push to boost its reach in the
growing market for immersive video and
virtual reality.
The company has provided support
for 360-degree video for more than a year,
but it has been working with content
creators to push the technology even
further to bring fans into live events when
they cannot be there themselves.
YouTube worked with VideoStitchand
Two Big Ears to make their software
compatible with 360-degree live-streams
or spacial audio on YouTube, and more
will be available soon.
The technology also will be available
at YouTube Space locations around the
world, including New York, London, Tokyo,
Sao Paulo, and Mumbai, India.
YouTube Chief Business Officer Robert
Kyncl unveiled the company's 360-degree
video strategy at CES earlier this year. The
company entered a deal with GoPro to
support 360-degree video content and 4K
HDR, or high dynamic range video.
Next Gen Security Systems
The newly formed partnership
between top of the line lock
security systems manufacturer ABLOY
and JANADA Electronics, bringing
the next generation of high security
systems, and introducing foolproof
access control solutions, with four
main lock and key products is good
news for the security industry in
Bahrain.
An exclusive invite-only product
and partnership seminar is scheduled
to be held at the Sheraton Hotel to
unveil ABLOY’s Protec2 Cliq key
system, resilient cylinders and Super
Weather Proof padlocks, as well as the
EL-560 and EL-420 electromechanical
and moto lock solutions.
The Protec2 Cliq electromechanical
key sports a modular and upgradable
structure, and is also 100% impervious
to manipulation, foreign bodies and
water, even at full immersion. The
clock, calendar, and memory functions
allow the Protec2 Cliq to control access
times, clear personnel, and maintain
audit trail; storing up to 3,500 entries,
and with a 10-year battery life.
ABLOY Super Weather Proof
padlocks, both mechanical and
electromechanical, are simply the
toughest; catering to the protection
of high security applications
including water utilities, military
use, the transportation and oil and
gas sectors, as well as electric and
telecommunications networks.
The unique ABLOY cylinder
mechanism is based on the use of
rotating discs instead of traditional
springs and pins, designed to
withstand extreme weather conditions
and with a high level of protection
against manipulation. With the EL-460
and EL-560 series of electromechanical
and moto locks is automated and
equipped to better electrical security,
with auto-door-lock and door-open
functions during outages and failures.
JANADA Electronics has been in
business since 2008 offering integrated
security solutions, with innovative
equipment that maximizes efficiency
of cost and response.
74 May 2016

May 2016 75

Highlights | Other Business
C&S International partners
with Stratford Holding
Ahmed Khalfan, MD, Stratford Holding (left)
with Dr. Alex Suchy von Weissenfeld, Area
Manager ME, C&S International LLC
C
&S International LLC signed an
agreement with Stratford Holding
representing a new direction of
support for small business owners and
entrepreneurs in line with the company's
broader vision of helping business owners
protect and achieve their core values.
The founders of C&S International
believe the laser-like focus on asset
Alba appoints Bechtel as
EPCM for Line 6
Shaikh Daij Bin Salman Al Khalifa
Chairman of Board of Directors, Alba
Aluminium Bahrain B.S.C. (Alba),
announced International Bechtel
Co. Ltd. (Bechtel) as the Engineering,
Procurement, and Construction
Management (EPCM) contractor for its
landmark Line 6 Expansion Project.
Alba will be the world’s largest
single-site aluminium smelter upon
completion of the Line 6 Expansion
Project, which will boost its production
accumulation and growth-though
important-are the second step. The SME
Sector is the strong backbone of any
economy and to strengthen this backbone
from at its core is the declared objective of
C&S International.
“We are delighted to be a part of
C&S International's vision of supporting
the SME sector in Bahrain which is
a dynamic and important part of the
economy. We hope to make significant
contribution in our combined efforts,"
said Ahmed Khalfan, Managing Partner,
Stratford Holding.
“We are specialized in start-ups and
structural planning once the company is
off the ground. Our approach and strategy
may feel unique, but so are the problems,
modern day entrepreneurs face. We are
proud to be part of Bahrain now and of
the cooperation with bizbahrain. Not
only is bizbahrain a very active organ
for the SME sector in the Kingdom, but
actively shares our vision of supporting
the Kingdom’s best chance of sustainable
economic growth and independence,” said
Alex Suchy von Weissenfeld, PhD-Area
by 540,000 metric tonnes per annum
(mtpa) bringing Alba ‘s total production
capacity to 1,500,000 mtpa. Line 6
will have 424 pots that will use the
proprietary EGA DX+ Ultra technology
thus significantly increasing operating
efficiencies.
Alba ‘s Chairman of Board of
Directors, Shaikh Daij Bin Salman Bin
Daij Al Khalifa said, “The appointment
of Bechtel is a step forward towards
delivering the Line 6 Expansion Project,
which is a significant milestone for the
Kingdom of Bahrain. Alba and Bechtel
have a history that spans over 25 years,
and we are confident that Bechtel will
deliver excellence at all times.”
Bechtel’s President for Mining
and Metals, Shaun Kenny said, “Our
shared values of safety and quality, high
expectations and pride in achievement
have underpinned project success since
our first engagement with Alba over
25 years ago, to our most recent, the
completion of Line 5 in 2005. We are
proud to be working with Alba again
to add Line 6, to make Alba the largest
single site smelter in the world and
mark another world class achievement
for Bahrain, Alba and Bechtel.”
Manager Middle East, C&S International.
As of January 2014, the United States
Bureau of Labor Statistics calculates that
14.4 million people fit its definition of
self-employed. The Freelancers Union,
which adopts a more generous definition
for "independent workers," pegs the
number at 42 million. Either way, the
entrepreneurs and self-employed of
the world constitute a significant but
sometimes overlooked sector of the labor
force and Bahrain is no exception.
Small businesses are vital cogs in
the economic engine. According to the
Small Business and Entrepreneurship
Council, of the 5.68 million incorporated
businesses in the US today, more than
99% of them qualify as small businesses -
employing fewer than 500 people. Nearly
90% of businesses have fewer than 20
employees. For these employers, onesize-fits-all
business, financial plans
and structures just don't work. That's
the niche that C&S International (www.
candesglobal.com) aims to fill and this
is the expertise they are bringing to
Bahrain’s table.
Bahrain Cinema
Company Opens BD 2 million
Cineplex in Riffa
Bahrain Cinema Company opened a
new 6 screen Cineplex in Wadi Al Sail
Mall in Riffa.
The new Cineplex has substantially
increased the total investment of Cineco
in the Kingdom of Bahrain by BD 2 million
and is part of the company’s extensive
expansion plans.
The new Cineplex has a total capacity
of 724 seats, including 89 VIP seats,
encompassing the latest in technological
advancements in the global entertainment
industry. Whereas, the new Rendezvous
restaurant, will be able to accommodate
up to 138 guests and will offer a premium
continental cuisine buffet spread perfectly
suited for families after a shopping spree.
76 May 2016

Other Business
Miles Redemption offer for
Gulf Air Falconflyers
Gulf Air, the Kingdom of Bahrain’s
national carrier, recently launched
an exclusive offer for the airline’s
Falconflyer loyalty programme members
offering 50% off Falconflyer miles
redemption. Customers can redeem their
Falconflyer miles for Gulf Air tickets – at
a 50% discounted rate – up to 30th June
2016.
The airline’s 50% discount offer
is available to Falconflyer members
when redeeming Falconflyer miles
online at gulfair.com, via any local Gulf
Air office or by calling the airline’s
24 hour Worldwide Contact Centre at
(+973) 17373737. The 50% redemption
Land Rover Launches
Mobile App for Off-Road
Enthusiasts
With smartphone penetration in
the Middle East amongst the
highest in the world, premium SUV
manufacturer Land Rover has combined
its off-roading heritage and passion for
innovation to create what it hopes will
be the first social mobile application for
off-road enthusiasts. The app, known
simply as ‘Ardhi’ or ‘MYLAND’, has been
designed as an essential tool for regional
off-roaders of any level to chart, save and
share their off-roading adventures, and
is available now to download for both
iOS and Android users.
The Ardhi Mobile App is part of Land
Rover’s continuously evolving MYLAND
regional creative communications
platform, which celebrates the impact
that Arab culture has had on today’s
modern society. Launched in 2014,
MYLAND (‘Ardhi’ in Arabic) captures
promotion is valid from today until 30th
June 2016.
Gulf Air’s FalconFlyer Programme,
with its innovative incentives and
benefits for the airline’s frequent
flyers, offers members attractive
privileges and value-added benefits
such as bonus miles up to 250%, family
membership and special privileges
both on the ground and in the air. Other
advantages of the program include
the best redemption rates and the best
miles earning system for premium
class in the GCC and Middle East
region, special online booking bonuses,
a generous baggage allowance, three
years miles validity, unlimited lounge
access, priority baggage handling
and guaranteed seats among many
other benefits intended to make the
traveling experience more enjoyable and
rewarding.
Enrolling in the Gulf Air FalconFlyer
Programme and/or booking Gulf Air
flights across the airline’s 39 destination
network can be done online at gulfair.
com, by calling the airline’s 24 hour
Worldwide Contact Centre on (+973)
17373737, or through any Gulf Air sales
office.
stories and unique content from a
whole host of sources including Land
Rover’s ‘Calligraphy Project’ film and
installations.
The Ardhi Mobile App includes a
whole host of genuinely useful, engaging
and fun features that set it apart from
anything else on the market. MYLAND
(Ardhi in Arabic) which was also
selected as the overall winner in the
automotive category at the World Media
Awards held recently in London.
What is your relation with
fashion and exhibitions?
HE Shaikha Noora Bint Khalifa Abd
Alaziz Al Khalifa
care about women's support in
I particular by organizing successful
exhibitions such as ABAYA and WOW
exhibition in 2010 and lasted for ten
years, which is obtained by the shield
of thanks and appreciation to its
foundation by several international
organizations, has launched a
project of the company (MEDPOINT)
to organize events and provide
advertising services and advertising
to be able to this company during
the five years to make the trust and
high reputation among the public and
private sector institutions, and attract
the cooperation of many educational,
commercial and municipal sectors and
Charity institutions. My participation
Bride Exhibition which was held in
Jeddah to support businesswomen
in the Arab world, which has been
under my auspices moral summons,
in Festival (NEFERTITI) Luxor to
support the successful Emirate fashion
designer Muna Al Mansoori.
The Kingdom Of Bahrain is
preparing for the start of the WOW
exhibition and Abaya fashion show
which will be held on 2, 3 and 4 of
June from 10am - 10pm at the Bahrain
International Exhibition centre.
It is expected to include a wide
range of concerned women needs and
will find many interesting offers in
all flanks and angles, all that which
respects the beauty of the women from
the make-up to the various accessories
and the finest designs of Jalabiyas and
Abayas. All the women needs will be
under one roof with elegance.
May 2016
77

Other Business
Lexus Turbo models…
experience the thrill
Lexus Bahrain is offering the full
range of Lexus turbo-charged models
which include RC, GS, NX and IS at the
Lexus showroom in Sitra. These models
are designed to express the new Lexus
direction of “fun to drive” and to firmly
improve driving performance and fuel
economy.
Featuring a breakthrough
combination of a water-cooled cylinder
head, integrated exhaust manifold and
twin scroll turbocharger, the Lexus turbo
engine delivers fast throttle response,
Al Haddad Motors
launch all-new Mercedes Coupe
Lewis Hamilton and Nico Rosberg
launched the all-new Mercedes Benz
C-Class Coupe from Al Haddad Motors at
the 2016 Bahrain F1 weekend.
The 2017 C-Class Coupe is one of
Mercedes Benz’s most popular and
in-demand models in a brand-new,
head-turning, sleek, and luxurious
design, revolutionizing its class in looks,
technology, and performance.
Continuing with Mercedes Benz’s
new chapter since the revamp of the A
Class, the 2017 C-Class Coupe comes with
an immensely improved interior with
Mercedes Benz’s signature rich finish
performance and high torque at low
engine revs.
With innovative direct fuel injection
technology for both fuel economy and
instantaneous torque, the Lexus turbo
engine delivers rapid acceleration
with its 8-speed Sport Direct Shift
transmission.
Turbo engines are usually associated
with “turbo lag”, an image of having
a poor response. However, Lexus has
overcome this issue and Lexus turbo
engines provide an excellent response
with plentiful torque from low speeds.
The turbo engine developed by
Lexus typically only operates at the
boost pressure necessary ensuring
that the boost pressure is controlled to
increase just before an upshift based
on information from the automatic
transaxle (AT), enabling this challenge to
be cleared.
The full range of Lexus turbocharged
models feature a harmonious
pairing of style, power and acceleration,
now available at the Lexus showroom in
Sitra.
and comfort creating the undeniable
ambience of a Mercedes Benz.
The C-Class Coupe’s design is a
seamless combination of modern flair
and traditional luxury. It creates a vivid
masterpiece with a stronger shoulderline
and slanted rear that is not found
with the C-Class Sedan, despite their
identical headlights and grille. Around
the rear of the model, the C-Class
Coupe comes with distinguishable lean
taillights, comparable to the renowned
Mercedes Benz S-Class Coupe, which
seamlessly turns the heads of seasoned
Mercedes Benz customers and the
younger generation, making the model
suitable to all lifestyles, ages, and
personalities.
Along with revolutionizing the
interior and exterior of the C-Class
Coupe, Mercedes Benz continues its
tradition of being ahead of the game
with performance and technology.
With a light-alloy body and lowered
sports suspension, the C-Class Coupe is
unbeatable with Sport Mode, one of the
driving modes in the model’s DYNAMIC
SELECT feature, which the driver can
personalize to their driving style.
State-of-the-Art Heavy
Equipment Service Center
Y
.K. Almoayyed & Sons (YKA) Heavy
Equipment Service Division have
recently moved their operations to
a new and spacious facility located
in the Sitra Industrial Area. The soft
opening of this state-of-the-art service
center was held today by Mr. Farouk
Yousuf Almoayyed, Chairman of YKA
group in presence of other directors,
managers, staff from the company as
well as regional representatives from
principal companies. The new facility
caters to the repairs and service of all
types of heavy vehicles and equipment
and is the authorized service facility
for leading heavy equipment brands
such as UD Trucks, Komatsu, Tadano,
Ashok Leyland, Iveco, Magirus,
Palfinger, Crown, CompAir, Sykes
Pumps to name a few.
In addition to routine servicing, the
facility handles, major unit overhauls,
specialized modification and
installation jobs and offers ancillary
services such as a full fledged machine
shop for crank grinding and block
boring, overhauling and calibration of
diesel fuel pumps, and injectors and
many more.
Mr. K. Jayadev Menon, Senior
Manager YKA Heavy Equipment
Service said: “The facility is a result
of the long term vision of the YKA
management to invest in Bahrain,
to develop and provide world class
repair services to the commercial
and industrial segments which are
the prime movers for the kingdom’s
economic growth.”
78 May 2016

Other Business
May 2016
79

Health && Wellness Wellness
your brain enough time to recieve the
"i'm full" signal, which can arrive too
late after you have already eaten too
much too fast. So take your time and
enjoy your meal slowly.
You should also focus on what you
are eating and remember what and
when you ate it, this will give you better
control on your diet, for example if you
are eating a snack infront of the tv,
you will not realise how much you are
eating maybe untill you have finished
the whole bag of chips because you are
not paying attention to what's going
into your mouth.
Reasons why you are not
Losing Weight
by Dr. Rehab kotb
You think you are doing it all right
and yet you are not losing weight?
Then this article is for you.
To lose weight you should basically
eat less, burn more, and keep moving.
Sounds simple but it's a little bit more
complicated than that.
Sometimes you cut back on the
calories, and workout whenever you
can but you struggle so hard to lose
weight without success, so let's focus
on bad daily habits that ruin diet, if
you don't have breakfast thinking that
it's a good way to take less calories, or
you just don't have time for it, let me
tell you you are wrong, having a good
breakfast will inhance metabolism, you
will not get so hungry during the day,
and best of all you will have plenty of
time to burn most of the calories you
had for breakfast, and no, juice is not a
good idea for a breakfast, actually it will
make you feel more hungry later.
Skipping breakfast or any other
meal will cause you to consume more
calories throughout the day, and will
lead your body to store fats in order
to compensate for the periods where
you don't eat, so you should at least
eat three proper meals every day, just
make sure the timing and calory count
is right.
You are having too little or too
much protein? Some people think that
proteins are good to make them feel
while consuming less calories, this
is not true. They are important but
having too much will cause the excess
prootein to be stored as fat!. But still,
they are very important so you should
get your daily needs, and don't ditch
protein completely.
Another big mistake is to eat
without chewing your food well, slow
chewing will make you feel fuller with
less food portions because it will give
Don't fool yourself into thinking
that workout has burnet enough
calories for you, so that you can reward
yourself with an unhealthy snack. This
way you are losing the benefits from
your excercise, and you might consume
more calories than what you have lost.
If your job requires setting on a
disck long time, try moving around
every hour.
If you think your diet or your
workout is boring, don't hesitate to
change them, you can't commit to
something you hate.
And i can't stress enough the
ipmortance of getting enough sleep,
drinking enough water, and eating alot
of vegetables.
So don't pressure your self with
a failing diet, make these little
adjustments and you will see better
results, just be patient because being
healthy is totally worth it.
Dr. Rehab kotb
Write to me at
rehab.bizbahrain@gmail.com
80 May 2016

May 2016
81

Marketing Tech Expert
at its Best
Low Tech Tracking Devices-
Made at Home and Here's how to
by J.Tate
Chief Intelligence Officer bits&digits
Today I have decided to give a snapshot
of a recent private investigation case
that I felt worth of mention today. This
article is meant in no way to show people
who to track people without the proper
authority, it is an illumination of the
capabilities modern cell phones have the
capacity of performing (or how hackers
can exploit you without you knowing.)
What You Don't Know
What most of us do NOT know is
that while we so eagerly download apps
that appease our instant gratification for
distraction or to simplify normal tasks.
These Apps are not vetted or scrutinized
by any authority to prevent them from
being a tool used by hackers to steal
confidential information. But who cares
right? Well in today's edition I will show
you one way Googles and IPHONE as well
can be more detrimental to your personal
privacy than you ever thought.
Read Carefully - Empty Your Cup and Fill
it with consciousness.
Low-Tech, Low-Cost Vehicle Tracking
Device - Or Child Locating Device
Items You Will Need:
$30.
1 Moral Compass
1 Android Phone (Trip to your local street
vendor or asking your friend for that
cracked screen one they don’t use will do).
Do not spend more than $20 for a phone.
Make sure it was made within the last 5
years and preferably has a touch screen.
1 PrePaid or Additional Line to your
existing “contract” plan with your carrier.
YOU MUST HAVE DATA - but literally
100mb a month is going to be WAY more
than you need. Don't worry I have a plan
You Should pay no more than $10 a month
for such plan.
For those not paying attention; that is $20
for the phone and $10 for the Monthly Plan
no more is needed for the context of this
example.
Do not tell anyone about this plan. Not
your cousin or that weird guy that's always
lurking around your coffee shop.
Buy the phone and the plan with CASH,
not a Card.
(Note of Privacy)
If the phone is not new ensure you go to
Settings >Backup & Reset > RESET All it.
From another phone or computer go to
Google.com and Create a new GMAIL
account - It is Imperative that you create a
NEW account and not use an old one.
Do not install any other apps, or play
around and show off the phone. Once you
have established the account, logged into
it, and turned on location services, turn the
volume off. At this point, you have almost
completed all of the steps needed for a
low-tech tracking device.
Ensure the phone has a full charge and
place it in a discreet location at a time and
place where no one is looking and your
not within eyeshot of your neighborhood
peeping Tom. In the case of the operation
of which this article was written, the
phone was placed in the trunk of the
“marks” car.
You have now successfully Enabled a
GPS Tracking Device in your Car!!
At this point, you have successfully
created a GPS tracking system for your
car, and with Google Location history you
can tell exactly where the phone has been
(street by street).
How to Access the GPS Location of your
Device
Log into Google with the credentials you
made for the phone (best just to add that
new account to your REAL Phone so you
won't forget your password) “https://www.
google.com/android/devicemanager”
Click Locate Device
Setup your new phone with the NEW
Google Account you just created.
Remember your REAL NAME IS NOT
A REQUIREMENT nor is it a practice I
recommend.
Enable Location Services on the phone.
I am very sure you are thinking of a
million and one ways this bit of advice
can either explain how your boss knew
you weren't in Seef Mall on your “business
meeting” or how someone who has access
to your phone knows precisely where you
were and at what time.
The real message here is, be careful of
what and who you allow on your phone.
Just as in this case there were no real
ways to detect the presence of a foreign
tracking device in your car, there are ways
to ensure your phone does not become a
“reporting agent” for hackers. Contact the
proper agency if you would like to know
how to be more security conscious, or
if you feel your office or house has been
bugged, hacked or tracked. At bits&digits,
our skilled and former Intelligence
Operators can help not only detect but
deter low level attacks like these.
Signing Out - Remember also, be very
cautious of who you allow to “fix your
cellphone” in my old line of work, this
was one of the easiest ways to collect
information about people. Simply by
opening a Cell Repair shop and adding
some of the tricks I have illuminated
above. There are ways to prevent this,
but if you are worried about Secure
Communication Solutions (the ones that
most carriers in the region do not offer),
Bits&Digits has the answer for you.
www.bitsdigits.com
https://twitter.com/bitsdigits
82 May 2016

May 2016
83

Biz Dashboard
Consumer Price Index (CPI)
130.00
128.00
126.00
124.00
122.00
120.00
118.00
Jan
2015
Feb
2015
Mar
2015
Apr
2015
May
2015
Jun
2015
Jul
2015
Aug
2015
Sep
2015
Oct
2015
Nov
2015
Dec
2015
Jan
2015
Feb
2015
Mar
2015
General CP
General CPI, Bahraini
General CPI, Non-Bahraini
123.20
123.40
122.00
123.40
123.80
122.10
123.60
123.50
122.60
122.80
123.70
122.10
123.00
123.90
122.00
123.80
124.80
123.10
123.50
124.30
122.80
124.20
124.00
123.50
125.00
125.60
124.10
125.80
126.50
125.30
124.40
125.20
123.80
123.80
124.50
123.60
126.00
127.10
124.80
127.00
128.00
125.50
127.70
128.40
126.50
Market Share for PR Coverage
Source: Central informatics Organization
15%
7%
27%
23%
Banking
5%
Telecom
59%
9%
9%
23%
5%
18%
CBB
BBK
GFH
Batelco
Viva
TRA
NBB
Ithmaar
Others
Zain
Menatelecom
84 May 2016

Retail - Clothing and Footwear Price Index
116.00
114.00
112.00
110.00
108.00
106.00
104.00
Jan-15
113.50
Feb-15
113.40
Mar-15
112.80
Apr-15
112.80
May-15
112.80
Jun-15
112.80
Jul-15
114.60
Aug-15
114.60
Sep-15
115.00
Oct-15
115.00
Nov-15
108.70
Dec-15
111.10
Jan-16
109.70
Feb-16
108.30
Mar-16
110.00
Recreation and Culture Price Index
144.00
142.00
140.00
138.00
136.00
134.00
132.00
Jan-15
138.88
Feb-15
138.90
Mar-15
138.80
Apr-15
138.80
May-15
136.50
Jun-15
143.00
Jul-15
143.00
Aug-15
143.00
Sep-15
143.10
Oct-15
143.10
Nov-15
143.10
Dec-15
142.90
Jan-16
142.90
Feb-16
142.90
Mar-16
142.90
Index Points
Ramadan
Source: Central informatics Organization
14%
22%
10%
8%
22%
14%
Real
Estate
11%
Other
Business
11%
21%
29%
22%
16%
Diyar
BCC
Sheraton
Gulf Air
ALBA E.K.Kanoo YKA
Bin Faqeeh
Naseej
NOGA
GPIC
Euro Motors
bizbahrain.com - Web Portal Overview as on 30th April 2016 Total Articles (7,794) Total Views (199,730) May Total 2016
Visitors (55,141)
85

Tweets on Biz
201
Total Tweets
58K
Tweet Impressions
1237
Profile Visits
3903
bizbahrain
Followers Stats for the month of April 2016
86 May 2016

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May 2016
87

Biz Scene
2016
Formula 1
Gulf Air
Bahrain
Grand Prix
3G Exhibition
• Gulf BID
• Gulf Interiors
• Gulf Property Show
88 May 2016

Behbehani
Brothers W.L.L.
launch new
Porsche 911 in
Bahrain
Y.K. Almoayyed
& Sons open
new heavy
equipment
service center
May 2016
89

If you have anything to say about business in Bahrain your letters
will be posted in this section of the magazine. Please email us on
info@bizbahrain.com
LETTERS &
COMMENTS
Why Cooperate in Corporate?
The power of cooperation in workplace appears when you use your knowledge
and experiences to help other employees but, on the other hand you use the
others’ knowledge and experiences for your benefits; to learn from them.
Learning shall be a lifelong process, because if you don’t then there will be no
growth in the career path.
The problem some time, the newbies to the corporate world find it difficult to
work with others in the workplace. They learnt in university or school that
there shall be one winner in the class and everything is about the individual
achievement which will clash with team and teamwork concept. In attempt to shift this culture, for example
when a new employee is enforced to work with others where s/he doesn’t feel the belongingness or engage
with team members, the feeling of being lost and not appreciated as individual will take place.
In this scenario, Human Resource Management, must have a main role in integrating both the individual
and teamwork perspective in the cooperate culture, importantly on how the work objective’s designed. An
employee gets motivated when s/he excel by her/his own will and in the same time being part of a team
with shared purpose gets them motivated and if without individual benefits there will be no collective good.
It shall be emphasized on both parts, both are very necessary as for the individual and teamwork needs.
- Ali
I like your auto section a lot.
Would be great if you increased
the pages especially since the
automobile industry is one of the
biggest here.
Your Business highlights make
an excellent update for me each
month. Keep up the good work!
Your feature on Formula 1 was
very interesting. Who knew so
many people were needed to
keep the event going. It is a great
initiative for Bahrain – helps
the country at so many levels,
besides making every citizen
so proud to host an event of this
class and caliber.
Now that Formula 1 is over and
many of the best events that
Bahrain hosts, I am interested
to see the subjects bizbahrain
will cover in the months
ahead. Thanks for making it a
substantive issue each time.
Enjoy it cover to cover.!
- Noora Ahmed - Faseela Azeez - Jacob Mathew
Bahrain is truly a business friendly country. I visited the Gulf Property Show and it was evident how much
business is happening here. The number of devlopers and the exciting projects would make any investor look
towards Bahrain.
Incidentally I picked up a copy of your magazine there. Good redaing and good to see you everywhere!
- Fahad Mustafa
90 May 2016

May 2016
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92 May 2016