BizBahrain Magazine Sep-Oct 2017

September-October 2017 

1

2 September-October 2017


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CONTENTS September - October 2017 

10 | Bahrain’s Resilient Property Sector 

It is encouraging that the Bahraini real estate sector has shown 

considerable resilience in this lower oil price environment. A look 

back into the first half of 2017 allows a general, if cautious, note of 

optimism with the strengthening global economic outlook. 

FEATURES 

14 | Adding Value to Bahrain's Real Estate 

Survey and Land Registration Bureau 

16 | Standing Tall in the Crowd 

Interview with Fatima Adel Hameed 

Board Member, AMFA 

20 | Continuing a Legacy of Mutual Respect 

Interview with H.E. Ambassador Alfonso A. Ver 

Philippines Ambassador to the Kingdom of Bahrain 

22 | A Class Act to Follow 

Interview with Richard Raab 

General Manager, Four Seasons Hotel Bahrain Bay 

26 | Masterplanning Floating Landmarks 

Interview with Wael Juju 

Founder & CEO, V-Marine 


CONTENTS 

September - October 2017 

30 | Investing Made Easy 

Interview with Johannes Van Der Dong 

Chief Investment Officer, Takaud Savings and Pensions 

32 | Creating Fan Food 

Interview with John Gainor 

President & CEO, International Dairy Queen 

34 | Using AI to Reprogram Internet Experiences 

Interview with Ali Mohsen 

CEO, WNNA 

36 | Portal to the Perfect Property Investment 

YourAmlak 

38 | Metropolitan Holding 

Project Review 

42 | Bond Issuance Improves Bahrain’s Fiscal Position 

OBG Business Report 

44 | Bahrain’s Industrial Real Estate Sector 

CBRE Real Estate Analysis 


5

SECTORS 

58 | Government: 

Bahrain ranked as Best Global Destination for Expats 

Bahrain’s Non-Oil sector growth accelerates to 4.4% 

14% Increase in Inbound Tourism 2017 

Key Projects with Saudi Development Fund 

Free Hotline Service for NIHR 

BD31m Sewage Plant Close to Completion 

62 | Banking & Finance: 

Positive results for Bahrain Insurance sector 

Solidarity Takaful to merge with Al Ahlia Insurance 

Al Hilal Takaful Customer risk strategies managed 

by Emirates NBD Asset Management 

GFH completes the Acquisition of Infrastructure Portfolio 

Bank ABC joins Global Financial Infrastructure Consortium R3 

SICO appointed as authorized sponsor on BIM 

66 | Telecom: 

Bahrain Achieves ‘Maturity Stage’ in ITU Global Cyber Security Index 

Artificial Intelligence Framework a Game Changer for Telecom sector 

Mobile Data performance reaches 23 Megabites per second 

Viva Bahrain win Asia’s Best Employer Brand Award 

Batelco Partners with leading Gaming Content providers 

Viva Bahrain and Capital Club sign strategic partnership 

70 | Real Estate: 

US$10bn Investment in Hospitality for Bahrain 

Amwaj Gateway Development project set for public auction 

Bahrain Marina Announces Progress of Marine Works 

Muharraq Grand Park work to start in Q1 of 2018 

Al Bareh Infrastructure Work on Target 

Marassi Shores Residences offers Spectacular Views 

74 | Technology: 

Samsung Galaxy Note8 launch in Bahrain 

Apple unveils iPhone 8 

Nokia 8 Android Smartphone 

LG Q6 with Full Vision experience 

Lenovo new Smart devices 

Gemalto enables Biometric Passports 

78 | Automotive: 

2018 BMW M5 Saloon, the most fastest and powerful yet 

2017 Land Rover Vehicles at LRE 

Mercedes-AMG GT R 

The Ferrari Portofino revealed 

All-new 2018 Chevrolet Equinox premier 

New redesigned Hyundai Sonata 

82 | Other Business: 

Gulf Air sign Codeshare agreement with Aegean 

Wataniya Airways first flight to Bahrain 

Ethiopian starts thrice-weekly service to Bahrain 

USCO Restarts Operations at Stainless Steel Mill 

Le Beck International Launches New Security Mobile App 

AGU Alumni Association launches App for Graduate Students 

MORE IN THIS ISSUE 

48 | Corporate Law Analysis 

50 | Public Speaking 

52 | Investor Behaviour 

54 | Next Generation Solution 

56 | Auto Focus 

76 | Biz Dashboard 

78 | Tender Board Bahrain 

92 | Twitter 


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September-October 2017 7

CHAIRMAN'S MESSAGE 

Now that the holidays are firmly behind us, it has been business as usual for 

Bahrain once again. A good time for us also to take stock of what’s been happening 

on the economic fronts during the first half of the year. Bahrain has long established 

itself as a hospitable destination for investment, making its case with a string of 

credible accreditations. In the World Bank’s “Doing Business 2017” report, Bahrain 

ranks 63rd out of 190 countries, the second highest in the GCC and three places 

higher than its previous ranking in 2016. An area in which Bahrain has always 

performed particularly well is property registration for which it ranks 25th 

in the world. No wonder this is one of the key selling points for Bahrain when 

multinationals look at the Gulf region for a business base. The task of cutting out red 

tape and reducing bureaucracy remains high on the Kingdom’s agenda, and will no 

doubt further the expansion of important sectors. 

It is encouraging that Bahrain’s real estate sector has shown considerable resilience 

in an environment of lowered oil prices, with a growth of 4.5% in the first quarter 

of 2017. bizbahrain takes a look at one of the rising leaders in the industry - 

AMFA Holding, talking to Director, Fatima Adel Hameed about the investment 

conglomerate’s strategy and way forward. Our main feature throws further light on 

the resilience of Bahrain’s real estate sector and highlights the increasing demand 

for housing. 

We are honoured also to feature in this issue H.E. Alfonso A. Ver, Philippines 

Ambassador to the Kingdom of Bahrain. He discusses the significance of the 

community’s contribution to Bahrain and the history of strong bilateral relations 

between the two countries. 

We also interview Richard Raab, the new General Manager of one of Bahrain’s most 

iconic hotels - Four Seasons Bahrain Bay. Celebrating 19 years in the business in 9 

different hotels and countries, he talks about the new challenge up ahead. 

Other interviews make equally interesting reading with entrepreneur Wael Juju 

throwing light on a new kind of business opportunity, and SEO wiz, Ali Mohsen, 

Co-Founder of WNNA telling us how AI can make the internet more personal. We 

also had a wonderful session with industry legend, John Gainor, CEO of Dairy Queen 

International and Jean Champagne, Chief Commercial Officer, when they were in 

Bahrain recently. 

We leave you now to enjoy another great issue. Make sure you visit our website for 

daily news updates and follow us on social media to stay in touch with Bahrain’s 

business community and news. 

Happy reading! 

Adel Al Safar 

Chairman 

Write to the Publisher: info@bizbahrain.com 



9

THE TEAM 

Publishing House 

General Manager 

Group Editor 

Production & 

Circulation Manager 

Senior Designer 

Business Development 

Digital Media Developer 

Editorial Contributors 

Production and Layout 

Video Augmentation 

Printed at 

In Association with 

Sultan Al Sharabaty 

sultan@bizbahrain.com 

Reena Abraham 

reena@bizbahrain.com 

Sameer Asif Butt 

sameer@bizbahrain.com 

Ashjad Azeez 

ashjad@bizbahrain.com 

Saad Hyatt 

saad@bizbahrain.com 

Rosemarie Gala 

rose@bizbahrain.com 

Muhammad Zahid 

zahid@infotouch.com.bh 

+973 3992 3321 bizbahrain 

Dr. Jassim Haji, Simone Del Nevo, Heather Longden, 

Dr. Alex R. Suchy von Weissenfeld, Mohamed Isa, 

Jose Paul Martin, Ali Al Aradi 

Dar Akhbar Al Khaleej, Kingdom of Bahrain 

Farouk Almoayyed 

Honorary Chairman 

Ahmed Sabah Al-Saloom 

Chairman of the Society 

info@bizbahrain.com 

www.bizbahrain.com 

Read more on: www.bizbahrain.com 

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. 



11

Focus Feature | Real Estate Sector 

BAHRAIN’S RESILIENT 

PROPERTY SECTOR 

by Reena Abraham 

Retrospection, though necessary 

especially when analyzing the 

economic progress of a country, 

is not always the most gratifying of 

exercises. However, a look back into 

the first half of 2017 allows a general, 

if cautious, note of optimism with the 

strengthening global economic outlook. 

The non-oil economy in the Gulf has 

gained even as oil output cuts have 

translated into more subdued headline 

growth. Bahrain’s performance in 

this environment has continued to be 

distinguished by remarkable resilience, 

thanks in large part to substantial 

infrastructure investments. Overall, 

Bahrain’s annual economic growth rate 

was 2.9% in the first quarter of 2017 

in line with its performance in 2016, 

the momentum supported by a record 

infrastructure pipeline. 

Despite a slightly rocky global 

economic environment, the tentative 

recovery that became evident during 

the end of last year has generally 

continued to gather steam. Virtually all 

advanced economies are showing signs 

of faster growth and most economic 

indicators have proven resilient. The 

intermediate economic data for the 

region has remained mixed in reflection 

of the conflicting forces created by 

hydrocarbons sector cutbacks and 

the gradual normalization of the oil 

sector. In Bahrain recent months have 

highlighted the strategic importance of 

economic diversification, on the back of 

the recurring pattern of volatility in oil 

prices. 

It is encouraging that the 

Bahraini real estate sector has shown 

considerable resilience in this lower oil 

price environment. The Bahrain EDB’s 

Bahrain Economic Quarterly June 2017 

shows a growth in the real estate sector 

of 4.5% in the first quarter of 2017. 

“Recent figures demonstrate the 

resilience of Bahrain’s real estate sector 

and highlight the increasing demand 

for housing, not only in the Kingdom, 

but across the region,” said Khalid Al 

Rumaihi, Chief Executive of Bahrain 

Economic Development Board, while 

speaking to media. 

According to the quarterly 

transaction data collected by the Survey 

and Land Registration Bureau (SLRB), the 

aggregate value of real estate deals in Q1 

of 2017 was BHD290mn. This marked a 

15.2% increase on the preceding quarter 

and was 8.1% ahead of the first quarter of 

2016. Segments of the residential market 

are seeing considerable new supply 

growth with the number of freehold 

units rise from 2,800 in 2016 to more 

than 5,000 by 2018. 



Aggregate value of real estate transactions, BHD 

Source: Survey and Land Registration Bureau 

Another boost to the country’s 

prospects is the fact that in spite 

of challenging global and regional 

trends, foreign direct investment (FDI) 

has continued to increase in the last 

years. Inward FDI into Bahrain totaled 

US$282mn in 2016 and foreign investors 

created 1,600 new jobs in the country 

while the total achieved during the first 

six months of this year was an almost 

comparable 1,500. 

Formulating Bahrain’s future 

economic development strategy, the 

Bahrain EDB supported $280m worth 

of investment projects in the kingdom 

last year, a figure likely to be exceeded 

this year. 

An economic analysis of all the 

available United Nations Conference on 

Trade and Development data on Bahrain 

showed that the statistically significant 

drivers of inflows are very closely linked 

to the kingdom’s value proposition. 

According to the 2017 edition of the 

World Investment Report published 

by UNCTAD, inward FDI into Bahrain 

totalled USD282mn in 2016, some 3.6% 

of the total fixed capital formation in 

Bahrain during the year. FDI remained 

extremely important for the Bahraini 

economy and the revealed figures are 

unrivalled in the GCC. 

The Kingdom’s value proposition 

reflects the importance of regulation 

and human capital. Of a total of 17 

possible factors affecting FDI, 11 were 

found to be significant. These reflected 

the importance of the macroeconomic 

environment, including factors such as 

unemployment, inflation, and growthlocally 

and globally. They included 

indicators of the regulatory and 

governance environment, factors such 

as the Economic Freedom Index, the 

World Bank governance indicators, the 

ease of Doing Business, and control of 

corruption. They also reflected the value 

of the quality of and access to human 

capital: indicators such as secondary 

education enrolment and education 

expenditure. 

External assessments 

KEY DRIVERS FOR BAHRAIN’S 

RESILIENT REAL ESTATE SECTOR & 

ECONOMY 

Active projects that are part of 

the GCC Development Fund also saw 

a further increase in their aggregate 

value. The cumulative total worth of GCC 

Development Fund projects that had 

broken ground by June 2017 reached 

around US$3.2bn, marking a 20.2 percent 

year-on-year (YoY) increase. 

Moreover, the total value of awarded 

projects is expected to increase by 

nearly another US$1.3bn by the end 

of the year, which would mark the 

most rapid increase in the history 

of the programme to date. So far, the 

cumulative cash flow of the programme 

is still slightly short of US$1bn. 

In May, Bahrain hosted the China 

High-Tech Fair Bahrain Forum in 

connection with the visit of a highlevel 

Chinese business and government 

delegation to the Kingdom. The event 

served as a platform to develop new 

ties between Bahrain and the Shenzhen 

region of China, both at the government 

and business level. Leading Chinese 

companies already active in Bahrain 

include Huawei, Bank of China, CPIC, 

Dragon City, China Harbour Engineering 

Company, and CIMC. 

Several large-scale manufacturing 

investments in Bahrain are also making 

steady progress. Construction site 



13


works on Alba’s Line 6 project began Q2. 

The USD3bn project covers an area of 

approximately 60 hectares. The funding 

for the project is expected to be fully 

finalized by the end of Q3 and production 

is due to start in 2019. 

Bahrain is also attracting a number 

of innovative manufacturing companies, 

especially into the Bahrain International 

Investment Park in Hidd which has 

emerged as a key hub for many of these 

new investments. 

Garmco (Gulf Aluminium Rolling 

Mill Company) is completing a USD55mn 

capacity expansion which is due 

to be fully operational in November 

2017. The new facility will increase 

Garmco’s annual production capacity of 

aluminium slabs by 120,000 tn. 

The ground-breaking ceremony for a 

USD16mn Armacell facility is expected 

to create 140 jobs. The company is a 

global leader in in flexible insulation 

foams. The new 10,000 sqm facility will 

supply Armacell customers across the 

GCC and parts of Africa. 

Another indicator of the industrial 

and manufacturing sector turning into 

an engine of growth was the fact the 

industrial index on the Bahrain Bourse 

improved by 40.8% during the first half 

this year in a sharp reversal from a 

decline of 19.7% in 2016. 

Leisure attractions are also an 

important element of Bahrain’s appeal 

to outside visitors and an important 

growth focus for tourism in the GCC 

region with total assets estimated at 

some USD52bn. Bahrain Tourism and 

Exhibitions Authority (BTEA) reports 

for 2016 show a 14 percent increase in 

the first half of the year with some 5.6 

million tourists having visited. Bahrain 

offers a diverse mix of tourist attractions 

including a number of cultural and 

heritage sites. These include the Bahrain 

Fort and the Pearling Trail of Muharraq 

- both of which feature on the UNESCO 

World Heritage List. The fort alone 

currently attracts an annual visitor flow 

of nearly 115,000. Other attractions in 

this area include Al Fateh Fort, Arad 

Fort, Al Khamis Mosque, the Tree of Life, 

the Bahrain National Museum, and the 

National Theatre. 

Additionally, the Al Areen Wildlife 

Park & Reserve in the south of the 

island draws an annual visitor flow of 

nearly 200,000. Adhari Park draws some 

800,000 visitors a year. The Lost Paradise 

of Dilmun Park and the Wahooo! 

Waterpark are also popular attractions. 

Gravity, new developments in 

Hawar Islands, Diyar Al Muharraq, the 

Khalifa bin Salman Port, Al Sahel Resort, 

Dilmunia Mall, and the Bahrain Marina 

Club are newly developed attractions 

that add to the composite package. 

With all this, the tourism sector in 

Bahrain presents considerable untapped 

potential, which has prompted some of 

the existing facilities to develop further 

expansion plans. In addition, there is 

considerable eagerness for additional 

indoor family entertainment venues 

as well as more cultural experiences. 

Saudi visitors account for majority of the 

tourists coming to Bahrain, with more 

than 80% of Saudi and Bahraini residents 

seen as potential users of new offerings. 

On the pipeline for the immediate 

future is the construction of the King 

Hamad Causeway which will add to 

the existing King Fahad Causeway, 

connecting Bahrain to Saudi Arabia 

and serving as a platform for the GCC 

railway. 

At the recent Cityscape Global 

exhibition in Dubai, mixed use projects 

of more than US$ 11 billion were 

marketed. According to the Ministry of 

Housing, demand for housing units in 

Bahrain are growing at a rate of 5000 

units per year. 

Bahrain International Property 

Exhibition, (BIPEX) a 3-day event 

bringing together major Bahraini 

Aggregate value of real estate transactions, BHD 

real estate investors, development 

companies, financial institutions, legal 

institutions and consumers, showcases 

projects, and creates a platform in 

an open environment. Organized by 

Bahrain Society of Engineers (BSE), 

the event continues to grow as a direct 

result of increased investment projects 

among public and private sectors of 

the economy, the organizers say. In 

last year’s BIPEX event, the exhibition 

highlighted real estate assets worth $60 

billion, a significant rise from $52 billion 

in its previous edition. The 2015 show 

attracted more than 7,000 unique visitors 

of whom 24% travelled from outside of 

Bahrain. 

Meanwhile, Bahraini citizens are 

awaiting thousands of new properties in 

2017 as the government fulfills its pledge 

to provide 25,000 new homes by the end 

of 2018. The residential units are being 

funded by the Ministry of Housing, the 

Gulf Development Fund and through 

Private-Public partnerships. Developers 

are also working with government to 

build more affordable housing. Much of 

the focus continues however to be on 

man made islands driven by the demand 

for luxury waterfront homes. Adjacent 

to the upmarket Budiaya area, a new 

master planned community-Al Madinah 

Al Shamaliya or Northern City- built on 13 

reclaimed islands will provide 70,000 new 

homes in the next 7 years. The country’s 

population grew by 543% in the last four 

decades from 213,000 in 1970 to around 

1.37mn in 2013, figures that no doubt 

reflect the rising demand for homes. 



STRUCTURE 

THE FUTURE 

BAHRAIN INTERNATIONAL 

PROPERTY EXHIBITION 

OCTOBER 

26 TO 28, 2017 

bipex.org 


15

Spot Light | Survey and Land Registration Bureau 

HE Shaikh Salman 

bin Abdullah Al Khalifa 

President, SLRB 

ADDING VALUE 

TO BAHRAIN’S 

REAL ESTATE 

Survey and Real Estate 

Registration Agency 

The Survey and Land Registration 

Bureau is the governmental body 

in charge of land, aerial, and 

hydrographic survey services, and the 

registration of real estate properties in the 

Kingdom of Bahrain. 

The main objective for SLRB is 

protecting the stability of real estate 

property ownership, strengthening and 

supporting property reliance and related 

credit issues. The vision is to provide 

trusted high-quality land information 

services, expertise and to be a model for 

government sector management through 

investing in excellence to support the 

future needs of the Kingdom of Bahrain. 

The Bureau is mandated as the 

official body that regulates, registers and 

documents all records and certificates 

related to spatial and real estate services 

represented in land survey, topographic 

survey and hydrographic survey, 

registration of real estate transactions 

and the protection of property 

ownership in the Kingdom of Bahrain, 

in addition to managing, maintaining 

and collating fundamental spatial 

information in these areas. 

According to the Survey and Real 

Estate Registration Agency, the Survey 

and Land Registration Bureau (SLRB) 

announced that the volume of real estate 

trading in the month of July amounted 

to about BD 85,816,119 (Bahrain Dinars 

eighty five million, eight hundred 

sixteen thousand, one hundred and 

nineteen), which represents an increase 

of about 40% compared to the same 

month of last year 2016. 

The volume of real estate trading in 

the period from January to July amounted 

to BD 613,607,003 (Bahrain Dinars six 

hundred and thirteen million six hundred 

seven thousand and three dinars), whilst 

the volume of real estate trading during 

the first half of this year 2017 amounted 

to BD 528,071,497 (Bahrain Dinars five 

hundred and twenty-eight million 

seventy-one thousand and four hundred 

and ninety-seven). 

It should be noted here that the 

preliminary sale and purchase contracts 

which are concluded at the Notarization 

Office of the Ministry of Justice, Islamic 

Affairs and Awqaf, and on the basis of 

which properties are registered at SLRB, 

allow a period of one year for the buyer 

to register the bought property with the 

Survey and Land Registration Bureau. 

Therefore, the trading in and real 

estate transactions that are concluded 

during any period of time are not 

necessarily registered with SLRB on 

the same day or the month in which 

the transaction took place, which in 

turn means that the actual volume of 

transactions during a period may be more 

than what has been registered with SLRB 

for that period. 

Value of real estate transactions made by Bahrainis, GCC nationals and foreigners during the first half of 2017 compared to the same period of 2016 

Nationality 

First Half 2017 

Percentage 

First Half 2017 

First Half 2016 

Percentage 

First Half 2016 

Difference, H1 

2016 and 2017 

Percentage of 

Increase/Decrease 

Bahrainis 

Gulf Nationals 

Foreigners 

Total 

498,218,564 

18,209,833 

11,643,100 

528,071,497 

94.35% 

3.45% 

2.20% 

100% 

512,849,443 

21,864,324 

25,755,271 

560,469,038 

91.50% 

3.90% 

4.60% 

100% 

-14,630,879 

-3,654,491 

-14,112,171 

-32,397,541 

-3% 

-17% 

-55% 

-6% 


Spot Light | Survey and Land Registration Bureau 

Value of real estate transactions made by Bahrainis, GCC nationals and foreigners for the second quarter of 2017 compared with the same period last year 2016 

Nationality 

Second Quarter 

2017 

Percentage 

Second Quarter 

2016 

Percentage 

Difference, Q2 

2016 and 2017 

Percentage of 

Increase/Decrease 

Bahrainis 

225,341,059 

94% 

267,603,467 

91% 

-42,262,408 

-16% 

Gulf Nationals 

7,085,786 

2% 

9,509,585 

3% 

-2,423,799 

-25% 

Foreigners 

5,688,442 

2% 

15,161,991 

5% 

-9,473,549 

-62% 

Total 

238,115,287 

100% 

292,275,043 

100% 

-54,159,756 

-19% 

Value of real estate transactions made by Bahrainis, GCC nationals and foreigners for the period from January to July 2017 compared to the same period of 2016 

Month 

Transactions in 2017 

Transactions in 2016 

Difference Between 2017-2016 

Percentage of Increase 

January 

101,088,426 

64,486,432 

36,601,994 

57% 

February 

79,258,197 

105,553,962 

-26,295,765 

-25% 

March 

109,543,373 

98,153,602 

11,389,771 

12% 

April 

94,915,935 

97,145,192 

-2,229,257 

-2% 

May 

89,048,666 

119,578,293 

-30,529,627 

-26% 

June 

53,936,287 

75,551,559 

-21,615,272 

-29% 

July 

85,816,119 

61,464,240 

24,351,879 

40% 

Total 

613,607,003 

621,933,280 

-8,326,277 

-1.3% 

Locating Bahrain’s Underground Utilities 

The Survey and Land Registration 

Bureau (SLRB ) has launched a 

new project for accurately locating and 

mapping the Kingdom of Bahrain’s 

underground utilities is set to deliver 

benefits to the nation through better 

decision making and planning. 

SLRB has partnered with the 

Electricity and Water Authority 

(EWA) and the Ministry of Works, 

Municipalities Affairs, and Urban 

Planning (MWMAUP) to improve the 

accurate location of underground 

utilities in the Kingdom. 

His Excellency Shaikh Salman 

Bin Abdullah Al Khalifa, President 

of SLRB said, “For decades SLRB has 

mapped and charted the natural and 

built environment ‘on the land’ and 

‘below the waters’ of Bahrain. This is 

the first time that we are working to 

better record the location of features 

‘under the land’. SLRB is working to 

support our sisterly agencies and 

the private sector in their respective 

business of locating and recording 

underground utilities by sharing our 

geospatial knowledge and skills and 

our international networks of partners.” 

Global specialists in positioning 

and mapping technologies, Ordnance 

Survey International (OSI) are working 

with the partner ministries to study 

current management of underground 

utilities information. OSI will then set 

out a roadmap for the future precise 

positioning and improved recording 

of location of Bahrain’s national 

underground utility assets. 

The project plays an important 

role in achieving the objectives of 

the Bahrain Economic Vision 2030 

and the Kingdom’s progressive 

development agenda towards a globally 

competitive economy. OSI will provide 

recommendations aimed at generating 

efficiencies across the utilities sector 

directly supporting utility owners 

with better information about the 

3D position and attributes of their 

aboveground and underground assets. 

Through improved information capture 

and records management, knowing 

which assets are buried where allows 

construction and infrastructure 

projects to plan and progress 

efficiently, contributing directly to 

sustainable urban growth. 


17

Interview | AMFA 

STANDING TALL 

IN THE CROWD 

Don’t be misled by the pretty face and 

youthfulness, Fatima Adel Hameed 

is no pushover. Growing up in a 

business family, where gender and age were 

no excuses for hard work and achievement, 

she is today board member, Director of 

AMFA accounts and Head of Finance. Along 

with well-known Bahrain business leaders, 

her husband Mohamed Rajab Ayoob and 

father, Adel bin Hameed, she runs the 

rapidly growing family-owned business. 

For those watching the market 

it almost seemed as if it arose out 

of nowhere, but AMFA Holding, an 

investment conglomerate comprising a 

range of enterprises including real estate, 

construction and automobile, has been 

quietly gathering steam during the last 

thirty years to reach where it is today. 

With an undisputed presence today in 

the competitive Bahrain market, its real 

estate wing was established in 2013 after a 

merger with the older Paradise Real Estate 

& Construction. The new company has 

since, developed its scope of activities and 

diversified investment inside and outside 

Bahrain. The burgeoning real estate sector 

in the Kingdom of Bahrain further enabled 

the company as it went on to develop a 

number of high-end freehold properties. 

lways eager to investigate new players and 

understand business trends, bizbahrain 

has been tracking the progress of the AMFA 

group. bizbahrain General Manager, Sultan 

Sharabaty and Editor Reena Abraham 

talk to Fatima Adel Hameed about the 

company’s sky rocketing profile and her 

role in its growth. 

Rewinding to the beginning. 

As a real estate and infrastructure 

development company, AMFA encompasses 

the entire value chain from concept 

to completion. The company’s core 

activities comprise buying and selling of 

properties for the establishment; property 

leasing, management, development and 

maintenance; mortgage facilitation; and 

asset management. 

After merging with Paradise Real Estate 

and Construction in 2013, AMFA Group 

was established and after that we decided 

to expand further into AMFA Motors, 

AMFA Rental, AMFA Construction, AMFA 

Properties (building management). 

My father, Adel Bin Hameed who 

is owner of Paradise and my husband 

Mohamed Rajab Ayoob are the founders of 

the Company. I completed my bachelor’s 

degree in business informatics and am 

currently studying for a master’s degree 

in marketing while also holding positions 

of responsibility in the company. I have 

previously held several positions in other 

companies and also got certificates in the 

field of accounting and finance. 




Fatima Adel Hameed 

Board Member, AMFA 

19


A personal vision for growth and 

achievement. 

We wanted our signature to be 

everywhere. We are a family business, 

and we are fully confident therefore 

of the 100 percent commitment that 

each family member has towards 

the company. Adding to my father’s 

experience, my husband brought in 

new ideas, new vision, new strategies. 

Also working in the company are 

several other key members including 

my own brother and sister, as well as 

my husband’s sister. 

I come from a family of 

entrepreneurs, and so the business 

aspects are very much ingrained in 

me. My father is well known for his 

achievments both in business as 

well as a member of parliament. My 

husband’s family have been involved 

with real estate development and 

selling of electronic goods in Bahrain 

for the last forty years, as well as in the 

business of automobiles. Our families 

have always been there as a strong 

backbone of support and guidance. 

AMFA Holding has been 

quietly gathering steam 

during the last thirty 

years to reach where it is 

today. 

Focused strategy for business. 

We are very unique in our approach 

to our business. Each project takes 

time to conceptualise and it is never 

a rushed job. We try to make each and 

every one of our projects different and 

special. Time, skill and manpower goes 

into making our buildings different and 

then we ensure they are provided with 

the best amenities and facilities. 

We consider all of our projects 

important; they belong to us in 

every sense of that term, as we put 

something special of ourselves into 

each project. For us each project feels 

like the first project! 

The upcoming AMFA Tower 3 

has been called a landmark project 

by many people in the industry. It 

consists of 32 storeys in the Seef 

District and is one of our most exciting 

projects so far. 

Market challenges and the turbulent 

economic times. 

If you are constantly innovating and 

changing with the times, problems are 

something that you can take in your 

stride. If you provide new products 

and come up with new ideas, you will 

not face difficulties or you will at least 

be able to roll with it. For example, in 

AMFA Tower 3, we are using golden and 

blue glass for a look that is completely 

different. Of course the costs to 

use such concepts are high, but we 

are strategising how we manage it, 

how we sell the project, and how we 

can constantly provide people with 

innovative and creative new ideas. 

In the overall scheme of things, the 

drop in oil prices has actually had a 

positive impact on real estate, especially 

in Bahrain, with investors shifting their 

focus from oil to real estate. Homeowners 

in Bahrain can expect a good 

return on their investments within a 

relatively short period of time, making 

real estate one of the most lucrative 

investment options available. 

New regulations and laws in Bahrain’s 

real estate sector. 

I feel it will will save the market, 

because some developers come here 

to Bahrain and they start selling grand 

projects which they cannot complete 

and that puts the market in a very bad 

situation. The government has done 

something positive by regulating the 

sector to protect us from unscrupulous 

developers and speculative buyers. The 

new rules help investors and buyers, 

while protecting the economy. 

Impact of tourism in Bahrain. 

Any movement in the tourism sector 

comes back as benefits to us. However 

I think there is still something missing 

to attract tourists in Bahrain. We attract 

people from neighbouring countries but 

we need to have more that will attract 

people from all over the world. 

However, I have to say that unlike 

anywhere else in the GCC, in Bahrain 

an investor in the real estate sector can 

expect an ROI of 10% for any residential 

property. A similar investment in a 

neighbouring country would only net a 

return of 5 to 6% over the same period of 

time. One of the reasons for this is due 

to Bahrain’s relative economic stability 

when compared to the rest of the GCC. 

Despite the drop in oil prices, Bahrain 

economy has been growing at a very 

consistent rate. Add to this the efforts 

made by the government to protect 

investors and developers alike. 

Bahrain is such a small country, and 

yet there are just amazing numbers of 

buildings coming up. Even if you look 

at the readings of the land survey and 

registration, you will find an annual 

upward movement. Yes, even in the 

paper today there is a report that shows 

numbers that are more than last year. 

Bahrain has a business 

climate that is very 

supportive for women. I 

would say it is the best in 

the Gulf. 

What makes AMFA different. 

Our uniqueness in every project. In 

our efforts to be different and to offer a 

different package every time, we often 

don’t look at the profit as much as we 

look at the quality. That is something we 

never compromise on. 

We like to play out our marketing 

strategy in a measured way. While we 

do create a presence through print 

media and outdoor advertising, our 

surest marketing method is our personal 

interaction with our customers. We are 

all completely and full time invested in 

running this company. Our marketing 

too is especially effective due to the 

fact that all of it is done in-house. This 

allows us to give our customers an 

accurate idea of exactly what they are 

buying. We also pay very close attention 

to our after-sales service in order to 

ensure that our clients are satisfied with 

their investment. 

We achieve a lot of interest through 

participation in numerous property 

exhibitions like BIPEX and others. 

We have not missed BIPEX even one 

year as it is one of the most important 

exhibitions in Bahrain, and this year we 

are Diamond sponsors. The aim is not 

only marketing but in fact, I think the 

main objectives is to be there as a part 

of it so we can see what the challenges 

in the market are and how we can all 

work together to overcome it in a way 



that benefits our country and the entire 

economy. 

Challenges as a woman in this industry. 

It is challenging, but I have also been 

lucky because I have had strong support 

from my father and my husband after 

that. Because they are in real estate 

from the beginning, they have been my 

guides and mentors. However, Bahrain 

also has a business climate that is very 

supportive for women. I would say it is 

the best in the Gulf. If you look around 

you will see there are loads of business 

women in Bahrain. 

On a day to day level, my husband 

involves me in everything. He says he 

needs someone to watch his back! I 

think it is wise to have someone trusted 

to support you, so there is another 

decision maker in the company. 

Cars and property - the two things every 

Arab loves! 

Yes definitely! From a business 

perspective it is a chain. When anyone 

comes to Bahrain they need a place to 

live in and then they also need a car. So 

we provide them with the apartments, 

and also the car for lease! Then if 

somebody likes to purchase their own, 

then they are welcome, we can provide 

for that too. So it’s all in one place. 

This is our aim. We are also planning 

to provide more services, things like 

car spa, car services and more. We 

purchase those services from outside in 

order to provide our clients, but ideally 

everything should be in-house. 

We are very unique in 

our approach to our 

business… We try to 

make each and every one 

of our projects different 

and special. 

Signature projects. 

We started the business with lowcost 

housing, and we will continue doing 

that because housing is a real need in 

Bahrain. It is from that, that we were 

able to move on to the bigger signature 

projects. The big projects have made our 

name known and built our reputation. 

We are now imprinting our signature 

everywhere. You asked me why we 

always name our projects under the 

company name. This is because it is our 

signature, and we are proud of our name. 

By naming our projects the way 

we do it, we make it easy for anyone 

who wants to know where our project 

is and besides that, we always select 

prime locations. Other upcoming 

projects include a villa compound, and 

a shopping centre. We also have big 

expansion plans to open a branch in 

another GCC country. It is still early days 

but soon we will be able to announce it. 

Biggest on our agenda at the moment 

is a major project called AMFA Garden. 

You will hear about it soon - maybe by 

the start of next year. But let me leave 

you with that for now and not give 

away too much before we are ready to 

announce. 

Ending note. 

We have a lot of exciting things 

planned ahead. Watch this space! 


21

Interview | H.E. Ambassador Alfonso A. Ver 

H.E. AMBASSADOR ALFONSO A. 

VER talks to bizbahrain about the 

significance of the Philippines 

community’s contribution to Bahrain 

and the history of strong bilateral 

relations between the two countries. 

CONTINUING A 

LEGACY OF MUTUAL 

RESPECT 

H.E. Ambassador Alfonso A. Ver 

Philippine Ambassador to the Kingdom of Bahrain 

Can you tell us a little about your 

diplomatic career and your various 

assignments before you arrived in 

Bahrain. 

Bahrain is my first posting as 

Ambassador, previously I served in different 

capacities in Turkey, San Francisco and 

Guam, USA. I was Deputy Head of Mission 

in Turkey, Deputy Consul General in San 

Francisco and a Consul in Guam. 

Of course, each country has its own 

charms as well as challenges. Turkey 

is a very active player in international 

relations and it was a very busy posting 

for me. We also covered two other 

countries, Azerbaijan and Georgia, 

and during my time there war erupted 

between Russia and Georgia and we 

had to help some Filipino workers in 

Georgia. 

San Francisco, as you know is one 

of the most beautiful cities in the world 

and it was a very good posting for me. 

From there we also covered nine other 

Pacific Northwest states all the way 

up to Alaska. We have a significant 

Filipino community in the San 

Francisco as well as in our entire area 

of jurisdiction. The region as also very 

exciting in terms of promoting Filipino 

culture, trade, investments and tourism. 

How would you describe your time 

here in Bahrain and how has it been 

different from other postings? 

I have been here in Bahrain for 

over two years and I must admit it 

also has its own set of unique beauty 

and challenges. In the short time I 

have been here, I am proud to say 

that we have accomplished so much 

in promoting even closer ties of 

friendship between the Philippines and 

Bahrain. 


Interview | H.E. Ambassador Alfonso A. Ver 

Obviously Bahrain and the Philippines 

share a lot of history. Does that play in a 

positive way to cement the connection 

between the Bahraini government and 

people with the Filipino community? 

This is no less exemplified with the 

very successful visit of His Excellency 

President Rodrigo R. Duterte to Bahrain in 

April 2017 with the President meeting His 

Majesty King Hamad bin Isa Al Khalifa, 

His Royal Highness Prime Minister 

Prince Khalifa bin Salman Al Khalifa and 

His Royal Highness Crown Prince Salman 

bin Hamad Al Khalifa. The visit resulted 

in the signing of key agreements, with 

several agreement initiated, a private 

investment agreement in the amount of 

US$250 million was also signed. 

The visit was also highlighted by 

the President meeting close to 5,000 

Filipinos in an event at the Khalifa 

Sports Stadium. There have been many 

high-level visits from Bahrain, he most 

recent and most notable is the visit of 

HRH Prime Minister Prince Khalifa bin 

Salman Al Khalifa in 2014. 

How strong is the bilateral relationship 

between Philippines and Bahrain and 

what are its main aspects? 

The Philippines and Bahrain have 

had very close and cordial relations. 

Next year, will mark 40 years of the 

establishment of diplomatic relations, 

further cementing the already strong ties 

between the two. The relationship has 

been close in all aspects; government 

to government, people to people and, 

increasingly in business and commercial 

relations as well. 

A critical part of the relationship is 

the presence of close to 60,000 Filipinos 

living and working in Bahrain. They are 

in all fields of employment with strong 

presence in the medical and allied 

fields, the professionals (accountants, 

engineers, architects, etc.), service 

workers in the hotel, restaurant and retail 

services, administrative and support staff 

and of course, household service workers 

where Filipinos are preferred employees. 

The Filipino community, which is the 

fourth largest in Bahrain, has been a 

positive contributor to the Kingdom, 

many have Bahrain their second home 

together with their families. 

Can you brief us about the most 

important aspects of the economic 

sectors that are of critical importance 

and the focal points in the bilateral trade 

relationship between Bahrain and the 

Philippines? 

In terms of economic relations, it 

could be said that there is much room 

for improvement although things may 

be looking up as may be gleaned from 

the recent signing of a US$250 million 

investment agreement. Given our 

respective circumstances, strengths and 

advantages, we have been positioning 

our economic relationship as being 

gateways to the larger markets, i.e. 

Philippines as Bahrain’s gateway to 

the Asian market and Bahrain as the 

Philippines gateway to the Saudi Arabia 

and the GCC. There is a daily direct flight 

between our two countries with service 

provided by Gulf Air. The Philippines 

is now strengthening Halal tourism 

programs and packages targeting the 

growing number of tourists from the 

GCC. We invite Bahrainis to come and see 

the wonders of the Philippines with its 

pristine beaches and rich dive spots, fun 

festivals and diverse culture and cuisine, 

and, other attractions that you could see 

and savor in a vibrant and cosmopolitan 

setting. 

What other areas does the Philippines 

have a strong presence in Bahrain? 

In the area of cultural relations, 

I am pleased to highlight some 

achievements during my term such as 

the performance of the Ballet Philippines 

at the majestic Bahrain National Theater 

in 2015, the perennial performances 

and participation of Filipino cultural 

groups in Bahrain festivals and shows 

and discovering Filipino local artists, 

painters, photographers, etc. 

I look forward to celebration of 40 

years of diplomatic ties between our two 

countries next year and we are lining up 

events in all aspects of our relationship. 

To be sure, the Filipinos who have been 

coming to Bahrain even before the 

embassy was established will continue 

to be a vital factor in Bahrain today and 

in the years to come. 


23

Interview | Four Seasons Hotel Bahrain Bay 

Richard Raab 

General Manager, Four Seasons Hotel Bahrain Bay 

A CLASS 

ACT TO 

FOLLOW 

Ensconced in the luxury of 

the magnificent lobby so 

representative of any Four 

Seasons Hotels, bizbahrain met Richard 

Raab, the new General Manager of the 

iconic hotel at Bahrain Bay. From a 

fleeting dream to become captain of a 

cruise liner, it was a fortuitous decision 

that took the passionate hotelier instead 

into the hospitality industry. Celebrating 

19 years in the business with a career 

that spans 9 different hotels and 

numerous countries, here he is telling it 

in his own words to bizbahrain Editor, 

Reena Abraham. 



On 10 August I actually celebrated 19 

years with Four Seasons Hotel and 

Resorts. 

That’s 19 years and 9 different hotels 

- Time flies when you are having loads 

of fun. I started in Los Angeles and then 

worked my away around most of the 

globe - Hawaii, London, Caribbean, St 

Petersburg, Cairo… and most recently, 

Dubai from where I came to Four 

Seasons Bahrain Bay. I am extremely 

proud to be part of this team and to 

take this hotel forward to carry on the 

successes that have marked this place 

for the last two and a half years. 

Back when I was a little boy I actually 

wanted to be a captain of a cruise ship. 

I spent most of my school holidays 

on the western coast of Norway, which 

is where my grandparents live. It is a 

beautiful fjord in the mountains with 

waterfalls and a landscape that cannot 

be described in words. Cruise ships 

would come in and I would see the 

Captain with his hat and watch the way 

he strides around and I would think, 

‘That looks like a nice job! ‘ 

In time, it dawned on me that I would 

have to study Mechanical Engineering 

to become captain of a cruise ship! Not 

my cup of tea! I needed more people 

contact and interaction. It was then that 

I also realised that the cruise ship was 

actually a floating hotel and that got me 

interested in the hotel business. I have 

never looked back since! 

My experience at the legendary Beverly 

Wilshire in Los Angeles was exciting. 

This is the hotel where the famous 

Pretty Woman was shot. It’s one of those 

hotels that you cannot just create; it 

takes 50-60 years. The Beverly Wilshire 

is part of the Beverley Hills story and has 

grown with the city as a destination with 

so much history. There are certain hotels 

like that around the world - probably, the 

Savoy in London, which is what it means 

to Londoners, or the Ritz in Paris, and 

the Peninsula in Hong Kong. There are 

certain hotels around the world, which 

you just can’t copy. It just takes time to 

create that kind of history and the aura 

of those hotels. 

The happy coincidence of working with 

someone like Wolfgang Puck once again 

is wonderful for someone like me. 

You know I grew up with F & B and 

climbed through the ranks. I love food, 

so to have the opportunity to work again 

after all these years with someone 

like Wolfgang Puck who is a true 

professional, a fantastic entrepreneur, 

and one of the most celebrated chefs 

around the world - to work with him and 

his team again is a pure joy. It almost 

feels like a home coming and got me off 

to a quick start from the beginning. 

Plans for more dining concepts 

is something we are reviewing at the 

moment. I think we might look at 

something, but we will leave that for 

later. At the moment we just want to 

tweak the ones that we have and make 

sure they are the best they can be. The 

moment you stand still, you are almost 

going backwards. You always have to 

move forward. 

How many other hotels 

have won the amount of 

awards in the first two 

years of opening that we 

have? 

We introduced Cut Lounge a couple of 

months ago. 

It is a cigar and lounge bar that has 

been extremely successful. We have 

more or less doubled revenues in the 

first 6 months, so you will find a few 

little things like that which will keep 

happening around at different places 

and outlets around the hotel. 

A background in the F & B side of the 

business may have given me a different 

perspective. 

You know there are different ways 

to reach the top. If you look at a hotel 

career Food and Beverage is obviously 

one of the paths; the Rooms division is 

another, Finance yet another. We have 

within Four Seasons, people who have 

gone up the ladder through finance as 

also people who have gone up through 

marketing and are now very successful 

General Managers. 

As a General Manager I think 

you have to use your advantages and 

then make sure that you surround 

yourself with people who have different 

backgrounds so the team is a balanced 

one, with everyone bringing different 

things to the table. It’s about knowing 

what you are good at and what your 

expertise is, and then selecting a team 

around you that complements that, and 

then working together to acquire that 

synergy that achieves good results. 

It’s just been around 6 months now since 

I joined Four Seasons Bahrain Bay. 

The whole company is extremely 

proud about what the team has done 

here since opening. How many other 

hotels have won the amount of awards 

in the first two years of opening that we 

have? I can confidently say, not many. 

Things are running well so there is no 

emergency or urgent requirement that 

need to be addressed immediately; 

it’s more about fine-tuning. We are in 

business here for the long run and 

making sure that we continue just 

pushing the envelope, day by day always 

trying to become better. 

The way we do business as a Four 

Seasons hotel, we do it the same way all 

over the world. 

It comes back to our motto that out 

founder put together, which is the golden 

rule: ‘Treat others the way you want to 

be treated'. We follow that all around 

the world. It’s an absolute honour to be 

leading this hotel and this team because 

this is an iconic hotel. I think you could 

pick up this hotel and put it anywhere 

in the world; whether you put it in Park 

Lane in London, Champs Elysèe in 

Paris, 5th avenue in New York, this hotel 

would stand out as one of the best hotels 

anywhere in the world. It is absolutely 

stunning. 

The vision of Four Seasons is very 

much in sync with Bahrain’s vision, of 

openness, hospitality, and friendliness. 

It could be one of the reasons why 

we have been so successful here. I think 

we need to look forward very positively 

on Bahrain and the tourism industry. 

You know there is a lot of talk that 

there are new hotels opening up in the 

market. I think some of them you see 

very easily from our hotel. If everybody 

works together, not only within the 

hotel industry but also with the airline, 

tourism authorities, all the different 


25


parts that build the hospitality industry, 

things could only improve and look 

better. We need people who go out and 

tell the world how wonderful Bahrain is 

and such a great place to visit. 

There is a great push and a focus on 

tourism and that has to only help the 

hotel industry and work in sync. 

I think the key is that we need to 

work together across all those industries 

to make sure that we put forward an 

image of Bahrain that’s very favourable. 

The more we can help and be part of 

putting Bahrain in the limelight, the 

more successful we will all be. There is 

no doubt of that! 

To look at a more global scene, the 

world is a far less friendly place than it 

was. While we say Bahrain is business 

friendly and open, the general climate 

is less friendly, but so far despite that I 

don’t think it has had a very big negative 

impact. We are still only a two and 

half year old business, so we are still 

growing, we are still maturing, we are 

still finding our way to optimise our 

business and our business model. 

‘Treat others the way you 

want to be treated'. We 

follow that all around the 

world. 

I think Bahrain is seen as a positive 

place and has something unique; it 

creates a very special feeling which can 

attract more guests to come in to. 

There has also been a lot of 

publicity lately about Four Seasons 

as a destination hotel or a destination 

wedding place. As a company worldwide, 

the concept of Bahrain and the Four 

Season as a wedding destination is 

something that we are promoting 

actively in all our hotels. We could not be 

more delighted to cater to the growing 

number of international visitors arriving 

to the Kingdom with our customised 

services and world-class product 

In my spare time I work out as often as 

possible because I simply love food - 

good enough reason to head to the gym 

regularly. 

It’s not always the healthiest food 

that I am indulging in, so I like to work 

out and working out makes me relax. I 

have two young daughters and a family 

at home. Luciana is 5 and Isabella is 11 

and I like to spend time with them as 

much as possible. 

I can’t wait for the farmers market 

to open up again. When I came here 

in January I used to go there with my 

family every weekend. It was a great 

experience on a day off or during the 

weekend to get up and go there to buy 

some fantastic vegetables and fruits. 

There is always some entertainment 

for the youngsters as well and you meet 

a lot of people. Other than that I am 

passionate about football, including 

watching Chelsea match marathons. 


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27

Interview | V-Marine 

Wael Juju 

Founder & CEO, V-Marine 

MASTERPLANNING 

FLOATING 

LANDMARKS 

With over 20 years in the 

yachting and shipyard 

business, Wael Juju began 

his career managing a shipyard in 

UAE, moving on to launch a series 

of entrepreneurial projects. He has 

promoted the industry through diverse 

efforts ranging from founding a 

Marine Mall, as Magazine publisher, 

launching Yachting Satellite TV, and 

organizing Regional Boat shows and 

much more. He has been an articulate 

advocate of Industry change speaking 

at international forums, consulting 

for many organisations and through 

his unique projects. Adding to his 

burgeoning repertoire, he has also 

co-authored the Marina Business 

book. bizbahrain talks to the serial 

entrepreneur to discover what drives him. 

What made you leave Shipyard 

management to embark on your own 

project? 

I felt that the industry was aging 

in its methods and becoming too 

traditional and artisanal. 



I believed a fresh view was needed, 

and I earned the reputation of being 

the ‘activist’ advocating change for an 

industry that capitalized on luxury and 

did not seek scalability pattern. In my 

opinion expensive and exclusivity prove 

to be a poor way to reach sustainability 

and year to year growth amid repeated 

financial crises. 

The fact that 95% of shipyards are 

inherited and not launched by new 

entrepreneurs, justifies that the yachting 

industry is missing the new blood to 

bring innovation and become disruptive 

to bring out the best. 

What makes your company, V-Marine 

different? 

V-Marine is a Boat Factory based in 

Hidd Bahrain specializing in building 

floating Restaurants, Sea-Hotels, Water 

Homes and of course Luxury Lounge 

Cruisers and Taxi Boats. Our units are 

modern and we always use an ecofriendly 

signature material-Natural 

Wood as a choice. We work using 

self-developed integrated technology 

like driverless Boats and Smart Boat 

automation. We are also the only Boat 

factory in Bahrain who launched 

electrical Boats capable of commercial 

application. 

How large are the structures you can 

float? 

We have a licensed cost effective 

technology to float a 5000 Sq metre 

ballroom or hotel on a single concrete 

slab, designed with specs that have a 

lifetime of over 100 years. 

We also have a floating Sand Beach 

concept that could be a revolutionary 

solution to many waterfront 

developments. It is cost effective and 

100% environmental friendly. 

Why do you think anyone would opt for a 

floating property? 

In The Gulf we lack mountains and 

such Nature friendly destinations. What 

we do have are plenty of Lagoons and 

water bodies. We strongly believe that 

Nautical Tourism and water-centric 

lifestyle options can be the fastest 

growing sector in the Kingdom as well 

as the entire region. We just need to 

work out a better Ecosystem” to embrace 

this initiative. 

What are some of the projects you have 

completed? 

We are proud to be behind the 

success of the world’s first 5-Star floating 

lounge - Ventus at the Four Seasons 

Hotel Bahrain Bay. The Ventus Lounge 

was our pilot project and we own the 

brand and concept. It has been a great 

success and we are seeking new cities 

around the world to expand it to. 

We own multiple worldwide 

registered patents that protect our 

production and our clients’ investment. 

It is an exhaustive and expensive path, 

but it pays rich dividends helping us 

to reach all premium properties and 

brands that genuinely seek unique and 

exclusive concepts. 

We are proud to be 

behind the success of 

the world’s first 5-Star 

floating lounge-Ventus at 

the Four Seasons Hotel 

Bahrain Bay. 

What are the legal procedures involved 

in operating a Floating Property? 

The Bahrain Ministry of Commerce 

offers a license for floating Hotels and 

floating Restaurants. This is a great 

advantage for the Hospitality sector 

to expand over the blue waters. Now 


29


licensing is available for Restaurants 

boats, which I feel is an amazing step 

forward in the right direction. 

Why is the partnership with 5-Star 

Brands so important for the hotel 

business? 

Throughout my 20 years traveling all 

around the world, I cannot remember a 

single experience of a tourist boat that 

falls under the real 5-Star standards 

category. 

Our Boats are the only production 

in the world which have been designed 

to match a real 5-Star Experience 

and Guest expectations. We have 

involved Hospitality experts and 

Interior architects to work closely with 

Naval architects in order to achieve 

this innovative statement on water . 

Our Boats have uniquely positioned 

boating as fine dining combined with an 

exclusive affordable journey. 

Is it a profitable business to own a 

floating restaurant? 

Creating successful boat dining 

experiences gives easy access for diners 

and tourists even late at night, 7 days 

a week for business and pleasure. This 

kind of an option will increase customer 

turnover for the same investment and 

asset. It is very profitable to business 

owners and very affordable for guests. A 

real win-win I would say! 

With an average of BD 25, you can 

have a hassle-free and unique dining on 

yacht experience, which is not normally 

available even at a cost, 10 times more. 

Our customized floating Restaurants & 

Boat Lounges have an estimated 2 Years 

ROI and you can start a similar Business 

with just BD 100,000. 

In the Gulf we lack 

mountains and such 

Nature friendly 

destinations. What we 

do have are plenty of 

Lagoons and water bodies. 

How difficult is it making an entry into 

this kind of a business? 

We are introducing a Lease to Own 

concept where Operators pay to lease the 

asset over 5 -7 Years. This makes owning 

a floating restaurant in a prime location 

cheaper than running a small Café. We 

work with LLOYDS Registry for class 

approval, which is considered among the 

highest standards in the world. 

To put things into perspective and 

highlight the importance of taking 

advantage of Lagoon waters…Imagine 

if Venice in Italy reclaims Canal and 

replace marinas by car parks to offer 

better services and more space! Dubai 

bought prime land from individuals to 

turn it into 12 kilometers of water canals, 

boosting the Real estate and Tourism 

sector in an unprecedented way. In fact 

the Dubai Water Canal is expected to be 

the most profitable Real estate booster 

development in recent history. 

Bahrain has Nature’s blessing with 

hundreds of kilometres of waterfront, 

being an archipelago. I hope we will not 

gradually take on the model of a waterless 

Venice that I described. 

What would the government need to do 

to support such a plan? 

We are hoping that the government 

will be flexible in licensing and aware 

of local manufacturing talent. If we only 

adopt what's been successful elsewhere, 

it means we will never be leaders. We 

believe the various ministries involved 

are doing a lot to reinforce the message 

that Bahrain is an Island. Bahrain 

has launched the Genius Sand Box as 

a fin-tech incubator. I would ask the 

government to consider the Water 

Box space to nurture this industry 

and allow innovations under the 

modern guidelines for safety rules and 

regulations. 



31

Interview | Takaud 

Takaud Savings and Pensions 

announced recently that its Global 

investment strategies all showed 

highly positive results in the first 6 

months of 2017, with returns to investors 

of 9.91% for Global Growth, 5.84% for Global 

Balanced, and 3.31% for the Global Prudent 

Strategy. 

In an interview with bizbahrain, 

Johannes van der Dong, Chief Investment 

Officer at Takaud Savings and Pensions, 

revealed how investment strategies 

can give any investor-from a first-time 

retail investor to a small or medium-size 

business-access to some of the world’s 

premier mutual funds backed by expert 

management. He also shared some of the 

secrets to TAKAUD’s investment success. 

Your Global Growth Investment Strategy 

saw more than 11% growth in 2016. How do 

this year’s results compare? 

Well, the 9.91% achieved in 6 months 

compares very well to last year’s 

performance of 11.58% for 12 months. In 

investing, you can never say that the 

results in the first part of the year will 

continue for the rest of the year. But we are 

very pleased for our customers, especially 

those who invested this year and have 

already seen quite spectacular growth. We 

always strive to achieve positive results. 

INVESTING 

MADE EASY 

Johannes Van Der Dong 

Chief Investment Officer, Takaud Savings and Pensions 

What is an investment strategy? 

An investment strategy is a set 

of mutual funds that we put together 

to create a diversified portfolio. This 

means that someone who invests in an 

investment strategy has the diversity 

that is so important for investing. 

With a single investment you have an 

interest in companies large and small, 

large economies like the USA or the UK, 

emerging economies like China and 

India, and different industries such as 

oil and gas, technology, social media and 


pharmaceuticals, for example. In addition, 

you have investments in bonds, which 

are usually quite stable investments, and 

cash. So every investment strategy has 

a wide and diversified range of types of 

assets. 

How do you create an investment 

strategy? 

It all starts with the customer. We 

look at what our customers need and 

then seek the right mix of mutual funds 

and other investments to meet those 

needs. For instance, our customers are 

interested in opportunities at the global 

level, throughout the GCC region, and in 

Sharia-compliant investment solutions. 

They have different levels of comfort with 

volatility-the inevitable ups and downs 

of the financial markets. So we created 

investment strategies that respond to 

these requirements and preferences. 

What is a mutual fund? 

A mutual fund is an investment 

vehicle that pools funds from investors 

for the purchase of shares, real estate, 

bonds or other assets. One or more 

specific investments are purchased and 

each investor owns units in the fund, 

or investment pool. Mutual funds are 

financially regulated. They are usually 

managed by professional asset managers 

and have an investment policy. The 

investment policy might state that the 

mutual fund invests only in a certain 

sector such as real estate or technology, 

for example, a specific region, or only in 

a certain type of asset. The mutual fund 

shares the profits and any losses from the 

investments with the investors according 

to their contributions. 

What do you do? 

We are constantly screening mutual 

funds to source the right investment 

opportunities with the best fund 

managers. We might screen 10 or more 

mutual funds to select one that fulfils 

our comprehensive list of screening 

criteria and due diligence requirements. 

We review in detail information on the 

investment policy that each mutual fund 

has made and meet the fund managers to 

ask for example, how they manage their 

mutual fund. Do they actively monitor 

each company in which they are invested? 

What do they do if a company is not 

meeting their expectations for earnings? 

We also explore how much experience 

they have as fund managers, and other 

relevant aspects. 

Why is an investment strategy a good 

option? 

An investment strategy provides 

you with built-in expert advice on how 

to invest, especially if you don’t have the 

time and energy it takes to check out every 

opportunity. By investing in a TAKAUD 

investment strategy you can invest 

with prominent fund managers without 

worrying about minimum investment 

criteria. The investment strategy itself 

is monitored and overseen directly by 

TAKAUD. TAKAUD’s investment strategies 

enable us to make good investments 

available to everyone. 

What makes TAKAUD investment 

strategies different from other investment 

opportunities? 

TAKAUD’s investment strategies 

and our entire business model have 

taken down some of investing world’s 

biggest barriers. For example, we have 

arrangements with elite fund managers 

all over the world-for mutual funds that 

each may require a minimum investment 

of $100,000 or more-and make them 

available to our investors without the 

high minimum investment requirements. 

So now anyone can buy an investment 

strategy with elite mutual funds, with only 

BHD 30 a month! We are pretty proud of 

that. We are serious about making good 

investments available to everyone. 

Are investment strategies only for elite 

investors? 

TAKAUD’s investment strategies 

are for everyone. What’s great, in my 

opinion, is that once people make their 

first investments, they can monitor the 

performance of their strategies online, 

at www. takaud.com. We give all our 

customers their own login so they can 

review their investments and see every 

purchase we make for them at any time. 

Our website also provides all kinds of 

background information in relation to the 

investment strategies and mutual funds. 

Every investment strategy and mutual 

fund has its own fact sheet, showing the 

results, the individual investments in 

each strategy and lots more information. 

We want people to enjoy the experience 

of investing by becoming as informed as 

they want to be. So in this way-by making 

investing simple and improving access to 

information-we make sure our investment 

strategies are for everyone, not just the 

“elite.” 

For whom are investment strategies 

useful? 

Busy people are perfect customers 

for TAKAUD investment strategies. Busy 

people don’t usually have the time to 

examine the details of mutual funds and 

monitor their performance. It is a lot to ask 

of them to make those strategic decisions 

on top of their other responsibilities. 

So they can benefit most from our 

investment advice, recommendations and 

investment-management services. 

What are the advantages for people 

investing in these strategies? 

Investing is an adventure. All 

investments go up and down in value 

over time. So we create our investment 

strategies to minimize-as much as 

possible-the extreme highs and lows 

of the marketplace. We don’t aim for 

an extreme 30% growth in a single year 

because we know that those kinds of 

investments carry a higher risk. We aim 

for the best quality investments in the 

middle of the spectrum of returns. We 

are cautious with our customers’ money. 

Even our growth strategies are carefully 

constructed to avoid extremes. We like 

being in the middle, where returns can be 

excellent but risks are lower. 

Are the investment strategies best for 

short-term or longer term investments? 

The investment strategies are 

designed for the long term. Playing the 

market for short-term gain is highly risky. 

Some experts believe they know what 

will be hot tomorrow and they move their 

investments around constantly. We don’t 

do that. We do monitor all our investments 

for our customers, and if one investment 

is simply not meeting expectations for an 

extended time, we move the subscriptions 

to other well performing investments. 

When it comes to investing, we believe 

in the tried-and-true methods, long-term 

investing and setting savings goals. I 

think that is the true power of investing in 

these times. 


33

Interview | Dairy Queen 

John Gainor 

President & CEO, International Dairy Queen 

CREATING FAN FOOD 

Operating from 12 locations in 

Bahrain, and 7 more in the region, 

Dairy Queen is one of the oldest 

and most beloved chains of quick 

service restaurants in the region with its 

very first outlet in the GCC opened by the 

Jawad Business Group. 

John Gainor, CEO of IDQ and Jean 

Champagne, Chief Commercial Officer 

were in Bahrain recently and spoke 

to bizbahrain about the brand’s long 

history with the Jawad Business Group. 

A subsidiary of Berkshire Hathaway Inc. 

(Berkshire) led by Warren Buffett, the 

legendary investor and CEO of Berkshire, 

IDQ is today one of the largest fast food 

systems in the world, with more than 

6,000 restaurants in the United States, 

Canada and 18 other countries. 

As one of the first international casual 

dining chains to make a presence in 

Bahrain, how has the journey been? 

John Gainor: Well we been 

established here in Bahrain for many 

years and while it has been a very good 

country for us to operate, we also have 

a great business partner in the Jawad 

Business Group. 

Do you find the customer in the Middle 

East different from other regions? 

John Gainor: Well customers are 

different in every country, but one of 

the thing we try to do is to have a good 

balance between western branded Dairy 

Queen, which is a 77 year old brand 

but also make it more attractive for 

individual markets like Middle East. 

Jean Champagne: We have limited 

time offers like the Kofta Sandwich 

that we have in a wrap, which is a 

very common flavor profile, which the 

consumer loves. 

Have you had to customize the menu to 

suit local tastes? 

Jean Champagne: Not really, other 

than some of our limited time offerings, 

which we bring in two, three times a 

year. We will have certain sandwich 

offerings with different condiments 

and with different flavor profiles like 

the Kofta sandwiches which reflect 

local taste, but for the most part it is a 

90% Americano brand with some of the 

products local. We do a Baklava blizzard, 

which is unique to here and some of the 


Interview | Dairy Queen 

of the day parts throughout the business. 

This is been our core strengths, the 

combination of all those platforms under 

the Dairy Queen umbrella. 

John Gainor with HE. William V. Roebuck, U.S. Ambassador to the Kingdom of Bahrain (right), 

Faisal Jawad, Chairman Jawad Business Group (left) and Abbas Hussain, Deputy Chairman at the 

opening of DQ Exhibition Road Branch 

other blizzard flavors as well. 

What is the story behind the successful 

partnership with the Jawad business 

group. 

John Gainor: Like any business 

partnership, you will go with both good 

economic times and sometimes not as 

good. The ability to work together over 

the years is really to do the quick serve 

restaurant category we have some of the 

best quality items out there. But also, it 

really comes down to communication 

when you are working as a business 

partner and having open and honest 

communication. 

and enjoy themselves. And the beauty 

of Dairy Queen is that people have 

very good memories of Dairy Queen. 

You come to DQ for food or one of our 

blizzard treat and people normally leave 

with the smile. But like every business 

we have a weather of tough economic 

times too. 

Jean Champagne: One of the things 

very important about Dairy Queen brand 

is, that we have many platforms within 

our category. We have delivery, we sell 

ice cream cakes, we sell food, we also 

sell ice cream treats and we also sell 

breakfast. So we can target many parts 

I can see you are opening branches 

in the areas where not many of your 

competitors think of opening, such as 

Amwaj? 

This is where the knowledge of the 

Jawad Business Group, being based 

right here in Bahrain, comes into play. 

They know the region, they know the 

market and they decide where they feel 

is the most demand. As to your point 

of our presence in a residential type 

community, that really is our heritage. 

We started in USA in small towns 

expanding in Canada, Mexico and now 

globally. It is part of our strategy. 

Any new plans for the brand in the GCC 

region? 

Jean Champagne: Yes we just opened 

our third location in Jordan, we have 

plans to grow extensively there. We 

been growing rapidly in Saudi since 

the last five years. We just opened a few 

locations in Oman and Qatar as well. 

In UAE, for the last two years, we are 

opening up more locations. In Kuwait, 

we have five locations and we are 

opening two more by the end of the year. 

So we see much activities happening in 

this region not only in 2017 but 18 and 19 

as well. 

Is there scope for more outlets in 

Bahrain or are you at full capacity here? 

Jean Champagne: It’s our desire 

to continue to grow and our next 

location will be a Grill & Chill outlet as 

part of a petrol Station. We see growth 

opportunities in Bahrain but we also 

explore opportunities in some of the 

other regions that we have direct 

business as well. 

Do you agree that whatever the 

challenges economies faces globally, 

the restaurant business is one that stays 

strong? 

Like every industry we will have 

periods of time where we are stronger 

than others, but people eat multiple 

meals a day. So we should be able to 

capture our share of those meals, and its 

been proven that people love to go out 

John Gainor (right) and Jean Champagne, Chief Commercial Officer (left) with Sultan Al Sharabaty, 

General Manager, Stratford PR/bizbahrain 


35

Artificial Intelligence | WNNA 

Ali Mohsen 

CEO, WNNA 

WNNA-Using AI to Reprogram 

Internet Experiences 

The face of SEO is changing. In this 

new age of digital marketing and 

ecommerce, seamless experiences can 

be created across channels, making 

happy customers with intuitive 

suggestions, excellent customer service 

and spot on recommendations, and 

crowning it all by sending real-time 

personalized messages. A decade ago, 

search engine marketers could create 

a site with some keywords in specific 

places, drop some links around the 

web, and start ranking within a short 

amount of time. But the web has grown 

tremendously since that time, and now 

these methods are no longer in vogue. 

Instead of focusing on keywords, search 

engine algorithms attempt now to 

“understand” your content, taking that 

evolution of personalization further to 

show that its not just about acquiring big 

data - it’s about the innovative ways to 

use that data. Businesses and analysts 

who are proactively working to give their 

customers the best experience possible 

are approaching the internet in a totally 

different manner. 

Bahrain-based WNNA wants to 

make the internet more personal 

with Artificial Intelligence. WNNA 

recommends activities you could do 

based on decisions you would usually 

make. Activities may include listening 

to music, watching movies, eating food, 

visiting attractions and so on. It does this 

by scurrying through different sources 

over the internet, getting you only the 

information you would regularly use to 

make decisions (show timings, rating, 

traffic) and in real-time, and then do 

more with the information (book tables 

or tickets, request an Uber and so on). 

The cool thing is that, apart from 

excluding the meta-data you won’t 

use from vertical sources and doing 

more with the recommendation WNNA 

provides, it learns your previous 

decisions and behavior and then 

provides recommendations based on 

them. It can recommend the kind of 

movies you would like to watch or the 

food you like to have during certain 

weather or the time you usually prefer 

doing so. 


Artificial Intelligence | WNNA 

40000 

35000 

30000 

25000 

20000 

15000 

10000 

5000 

0 

Dec Jan Feb Mar Apr May Jun Jul 

ios android web overall 

During 6 months of its launch WNNA has reached over 35,000 users across its apps and trended 

multiple times on App Store & Google Play Top Charts and today has more than 50,000 users and 

expecting to reach more than 100,000 on its 1st anniversary (December 2017). 

“WNNA is all about what you want to 

do and your intuition, finds you what you 

are looking for within few taps without 

entering a single keyword,” Says Cofounder 

and CEO Ali Mohsen, who has 

been Building Things Online Since 1996 

(according to his byline). 

During 6 months of its launch WNNA 

has reached over 35,000 users across 

its apps and trended multiple times on 

App Store & Google Play Top Charts and 

today has more than 50,000 users and 

expecting to reach more than 100,000 on 

its 1st anniversary (December 2017). 

WNNA utilizes Big Open Data and 

the Semantic Web to offer users an 

access to contextual and actionable 

information with a very intuitive and 

simplistic interface to help them take 

their daily decisions such as what to 

eat, where to find the nearest ATM or 

gas station or to find nearby jobs based 

on their interest and take relevant 

actions. WNNA is building several 

Artificial Intelligence components 

that mainly helps with its Knowledge 

Graph Data Acquisition & Processing 

from structured and unstructured data 

sources, Understanding Users Behaviors 

& Intentions, Analyzing Texts & Images 

Content and providing the most relevant 

recommendation to end users. 

“After providing our users with 

more than 4 Million recommendations 

in the last 6 month, we are aligned with 

our mission to provide people with 

the most contextual information and 

actions.” Says Ali Mohsen. 


37

Focus | YourAmlak 

Portal to the Perfect Property 

Investment 

The past decade has seen many 

changes in GCC region with major 

effects on the economy and a shift in 

focus in key sectors. One consistent 

trend through all the fluctuations has 

been the real estate sector’s resilient 

ability to bounce back after each 

knock. In the region there is no doubt 

that Bahrain’s property development 

industry and real estate sector is one 

of the most reliable and the country 

itelf has remained a top choice for 

investors. 

Shada Judeh, Regional Manager of 

YourAmlak, considered as one of the 

fastest growing property portal in the 

Middle East, is optimistic about the 

future for Bahrain’s real estate sector. 

With 12 years experience in GCC realty 

and constant movement between the 

four countries she manages, she is 

certainly well equipped to judge. 

“Regardless of the changes, Bahrain 

has a reputation as a popular and 

affordable place to invest in,” she says. 

It is a fact that when changes 

in an economy occur, people resort 

to buying properties. Cash in banks 

after all is considered the most 

dangerous commodity to have in times 

of economic change. When it comes 

to buying or renting a property, most 

home buyers face difficulty is finding 

the right property, the location, price, 

authenticity, etc. In such situations, 

online real estate portals are the best 

way for buyers to shortlist properties 

and compare them at various 

parameters. 

YourAmlak is one such B2B real 

estate portal that links the real estate 

industry by creating a platform for 

brokers, developers, and end users to 

effectively showcase their property, 

making it easier for potential 


Focus | YourAmlak 

customers. Launched in October 2015, 

YourAmlak.com features properties 

for sale and rent, including flats, villas, 

townhouses, shops, offices and land. 

The portal provides information such 

as the size, location, photos of the 

property, etc., helping the buyer get a 

better understanding of property before 

they see it. The portal also gives a 360 

degree virtual tour of the property. 

Property agents use the information 

to attract buyers. Besides offering all 

these services, YourAmlak also focuses 

on user experience and quality. 

With a team of deicated 

professional like Shada, the aim has 

been to help better understanding of 

the client and win their loyalty through 

excellent and personalised services. 

Moreover the operations in four 

different countries provides a unique 

perspective and opportunities for 

clients to view the region as a whole. 

In fact it is the company’s aim to 

perfect operations here before further 

regional and international expansion. 

In Bahrain, YourAmlak was launched 

in October 2015 and already has over 

27,000 visits per month. 

“Knowledge is power in this 

industry,” says Shada. “It’s not just 

about the finding tht house or office, 

its about understanding consumer 

behavior. Consequently, we consult 

and provide inside infomration so 

people can make informed decisions. 

Our clients and customers pay for the 

statistics and not just the advertising.” 

“We have active portals in Bahrain, 

Qatar, Jordan and serve clients all 

over the world! Some of the properties 

displayed come from UK, Turkey, 

Cyprus, and other developers and 

brokers,” she adds. 

So what makes YourAmlak so special? 

“It is our active and dynamic 

team combo that includes realty, 

digital marketing, sales, and web 

development. We are deeply committed 

in the "match making process" that 

links buyers and tenants to the brokers 

and developers.” 

It is the acknowledged goal of 

every YourAmlak team member to 

build close relationships with clients 

so that the relationship becomes more 

personalised and the experience is 

tailored for individual requirements. 

“Every broker and developer in 

the country needs the exposure of a 

portal such as ours because we create 

a unique profile which is significantly 

different from our competitors. At 

the same time our services go above 

and beyond simply advertising on the 

portal. We are a must-have tool which 

adds dimensions and presents options 

and opportunities.” 

Bahrain's tourism efforts and its 

calendar of events including local and 

international shows and exhibitions 

such as the biannual Air Show, 

Formula One Grand Prix, Bahrain 

Shopping Festival, Jewelry Arabia, 

Bipex and many more have helped lift 

Bahrain’s international profile and 

increased demand for real estate. In 

December 2015 approximately 30,000 

unique real estate consumers visited 

Shada Judeh 

Regional Manager, YourAmlak 

YourAmlak in search of their next 

home or investment opportunity. When 

these users interact with the website 

and its search engine they provide 

valuable insight as to what today's 

real estate consumers are looking 

for. The results that some of the 

generated reports highlighted played 

a fundamental role in shifting the 

focus of Bahrain’s real estate brokers 

towards today's most desirable areas. 

Additionally, with growing demands 

in the rental sector, many expats are 

now buying and renting real estate in 

Bahrain in the areas of high demand. 

A Secure Portal 

As a B2B portal, YourAmlak does 

a due diligence of all property before 

posting it on the website. Every inquiry 

and email is monitored to avoid 

spam and other activities that may 

originate outside the portal. All client 

complaints are acknowledged in a 

timely manner and communicated to 

the brokers or developers to prevent 

any negative impact on the user, while 

it helps build user confidence and 

increases visits to the portal. 


39

Project Review 

Metropolitan Holdings is a dynamic and innovative company involved in property development, facility management, civil 

construction, interior design/fit-out, infrastructure, MEP and related sectors. We continually explore new market opportunities 

to develop and expand our business. More recently Metropolitan Holdings Real Estate Division from UK is offering our clients in the 

GCC exclusive opportunity to benefit from major European development projects. 

PROJECTS 

Axis will be Manchester’s premier 

residence, comprising 173 luxury 

apartments benefiting from a 

24/7 concierge service. Axis will 

also boast Manchester’s two most 

exclusive penthouses, with unrivalled 

360 degree views of the city. The 

apartments will be fitted to a high 

specification including floor to ceiling 

glazing that maximises the unique 

panoramic views across the city. 

Uniquely, Axis can not be overlooked 

as there is no possibility of future 

development in its immediate vicinity. 

Axis sits at the heart of the city’s key 

landmarks and attractions, a short walk 

away and Manchester Central tram 

station providing on the doorstep access 

to Manchester’s rapid multi-modal 

transport network. 

• Iconic investment opportunity 

• Uninterrupted views 

• Manchester’s two most exclusive 

penthouses 

• 173 Luxury apartments 

• 24/7 Concierge service 

• Car parking available 

www.mhcwll.com 


The development will provide 

the luxury of concierge, awealth 

of high grade private realm 

and communal roof terraces 

incorporating outdoor kitchens 

and ‘chillout’ zones. Dried and 

chilled postrooms ensure you 

don’t have to be at home to take 

receipt of goods or perishable food 

store deliveries as downtown’s 

designated concierge will take care 

of it. 

Rapid reactive on site maintenance 

and coordinated support provides 

piece of mind for hassle free living 

and large service lifts ensure moving 

in is trouble free. Biometric and 

monitored entry provides a more 

secure living experience. 

Relieve the stresses of a working day 

in our on site tness suite, steamroom 

or plunge-pools or relax in our spacious 

lobby or even enjoy a movie in our state 

of the art media room. 

If working from home is becoming 

too much, adjourn to our business 

centre or make use of Downtown’s on 

site boardroom and enjoy unrestricted 

highspeed broadband access throughout 

the property. 

• 368 apartments 

• 1, 2 and 3 bedroom 

• SPA - steam room and sauna 

• High tech gymnasium 

• Full service concierge 

• Cinema room and Business Center 

• 5 minute walk into the City Centre 

• 7% rental yields 

• Chill out roof terraces 



41

• 7 Storey residential tower 

• 33 One, Two bedroom apartments 

• 9 Two bedroom duplex apartments 

• 24 Hour concierge facilities 

• Private terrace 

• 10 Years premier warranty 

Situated off New York street at the entrance 

of Chinatown, Manhattan is home to 42 luxury one and 

two bedroom apartments. Each has been created with the 

very highest standards of finish, including floor to ceiling 

windows and private terraces set into a lush multi-level 

green wall, for added natural privacy to complement the 

views - especially the 7th floor duplex penthouses which 

offer views over King Street and across the city. 

On leaving Manhattan, residents can step out straight into 

the second largest Chinatown in the UK, with the business 

district, the cultural quarter and the Piccadilly travel hub 

accessible within a five minute walk. 



Oxygen is a 31 storey neighbourhood located 

in Manchester. A short walk to the bustling 

bohemian Northern Quarter and regenerated 

Piccadilly hub, this new luxury development 

combines the highest build quality 

with 4 star hotel-standard leisure facilities 

and breathtaking views of a rising global 

destination. 

Home to 12 luxury family townhouses 

at ground level, 345 1, 2 and 3 bedroom 

apartments above and basement car parking. 

Every apartment and townhouse 

is finished to exceptionally high standards. 

Full height windows flood the space 

with natural daylight and balconies offer 

panoramic views over the city. 

At the heart of the building is a vibrant social 

hub which offers residents a wealth of luxury 

leisure amenities featuring a gymnasium, spa 

and shared outdoor spaces including a garden 

terrace of stepped allotments on the south 

corner of the building. 

• 3 Connected towers 

• 31 Storeys 

• 345 Stylish 1, 2, 3 bedroom apartments 

• 12 Luxury family townhouses 

• Sky garden, Swimming pools, Jacuzzi, 

Gym, Cinema room and Community hall 

• 10 Years premium warranty 



43

OBG | Business Report 

Bond Issuance among 

Efforts to Improve 

Bahrain’s Fiscal Position 

Oxford Business Group (OBG) 

The Kingdom of Bahrain launched 

another round of conventional bond 

and sukuk (Islamic bond) issuances 

last month, as the government looks to 

bridge projected fiscal deficits for both 

this year and next. 

In late July the Central Bank 

of Bahrain (CBB) issued a BD200m 

($530.5m), five-year government 

development bond with a coupon rate 

of 5.35%. The issue was oversubscribed, 

with subscriptions totalling BD224m 

($594.2m). 

This was followed by a BD125m 

sukuk with an ijara (leasing) structure, 

with a fixed annual rate of 4.2% and a 

tenor of three years. 

Together, these issues bring the 

total value of the 14 outstanding 

conventional and sharia-compliant 

bonds listed on the Bahrain Bourse to 

$6.41bn, with rates ranging from 3% to 

8.25%. 

New bonds against a backdrop of 

ratings revisions 

Continued appetite for the debt is 

a welcome development for Bahrain, 

which has seen its fiscal and external 

position come under increased pressure 

from low energy revenues, leading to 

downward revisions of its credit profile 

by the major international ratings 

agencies. 

In the days following these recent 

issues, Moody’s downgraded Bahrain’s 

credit rating from “Ba2” to “B1”, with 

a negative outlook, citing persistent 

budget deficits and the need for further 

fiscal consolidation to offset flagging 

revenue. 

A little more than a month earlier 

Standard & Poor’s (S&P) had revised the 

country’s ratings outlook from stable to 

negative, though it maintained a longterm 

sovereign credit rating of “BB-” and 

a short-term foreign and local currency 

rating of “B” for Bahrain and the CBB. 

Fitch, too, changed Bahrain’s credit 

outlook from stable to negative in 

June, affirming a “BB+” rating for the 


OBG | Business Report 

sovereign’s long-term foreign and local 

currency issuer default ratings, senior 

unsecured foreign and local currency 

long-term bonds, and sukuk trust 

certificates. 

Ratings agencies had already 

adjusted their outlook on the economy 

last year. S&P downgraded Bahrain 

to “BBB-/A-3” in 2015, with a negative 

outlook, before further downgrading it in 

2016 to “BB-” with a stable outlook. 

Lower revenues and continued spending 

impact fiscal balance 

The recent ratings actions reflect 

Bahrain’s changing fiscal position since 

oil prices dropped in mid-2014. 

Oil revenues declined by the 

equivalent of 10% of GDP in 2015, 

according to the World Bank, with the 

general fiscal deficit increasing from 

3.4% of GDP in 2014 to 12.8% in 2015, and 

public debt rising to 62% of GDP. 

And while fiscal consolidation 

measures introduced in the last two 

years have helped slow the pace of debt 

accumulation, persistently low oil prices 

nonetheless saw the fiscal deficit widen 

to an estimated 18% of GDP last year, 

while public debt rose to 82% of GDP. 

However, most observers expect the 

fiscal deficit to gradually decrease. In 

April the IMF forecast it would narrow 

to 12.6% of GDP this year and remain 

close to that level over the medium 

term, thanks to reduced spending and 

increased non-oil revenue. 

Progress on fiscal reform 

The budget bill for 2017-18 - which 

assumes an average oil price of $55 per 

barrel, slightly above the $52.61 Brent 

crude was trading at as of August 21 - 

forecasts a BD1.3bn ($3.4bn) deficit this 

year and a BD1.2bn ($3.2bn) deficit for 

2018, down from BD1.5bn ($4) in 2016. 

When discussing the new budget 

draft law last month, Sheikh Ahmed 

bin Mohammed Al Khalifa, minister of 

finance, reiterated the government’s 

focus on increasing income and 

containing public debt. 

“We aspire to reduce the general 

deficit without impacting the economic 

growth negatively,” he told local media. 

However, given that government 

spending, as well as GCC-funded 

infrastructure projects, remain an 

important contributor to GDP growth, 

much of the consolidation focus has 

been on the revenue side of the equation. 

Among other measures, the country 

has introduced a 5% levy on tourism, 

a 12% sales tax on petrol and stamp 

duty on real estate to boost non-oil tax 

revenue, which stood at just 0.6% of GDP 

in 2014. 

The government is also working 

on the introduction of value-added tax 

(VAT), part of a GCC-wide initiative to roll 

out the levy in early 2018. According to 

the IMF, VAT could give Bahrain a fiscal 

boost of around 2% of GDP - equivalent 

to roughly one year of current economic 

output. 

This Bahrain economic update was 

produced by Oxford Business Group. 

Oxford Business Group (OBG) is 

a global publishing, research and 

consultancy firm which publishes 

economic intelligence on the 

markets of the Middle East, Africa, 

Asia and Latin America. In print 

and online, the critically acclaimed 

economic and business reports 

have become the leading source of 

business intelligence on developing 

countries in the regions they 

cover. OBG's monthly economic 

updates provide up-to-date, indepth 

analysis on the issues that 

matter for tens of thousands of 

subscribers worldwide. OBG has 

been in Bahrain for 12 years and is 

currently working on The Report: 

Bahrain 2017 which is scheduled 

to be released in the first quarter 

of 2017. For more information, visit 

www.oxfordbusinessgroup.com or 

call us in Bahrain at 1715 1582. 


45

CBRE | Real Estate Analysis 

Bahrain’s Industrial Real Estate sector 

shows growing sophistication, in 

response to demands of International 

Investors 

Manufacturing is a key investment 

sector for the Kingdom and 

the third largest contributor to GDP 

growth, following oil & gas and financial 

services. 

With approximately 32 square 

kilometres of industrial land, Bahrain 

offers a variety of options to investors in 

terms of location, with new facilities at 

Salman Industrial City. 

Bahrain’s industrial land is spread 

across the Kingdom, with traditional 

areas such as Sitra and newer 

developments, with port access offered. 

The largest and most sophisticated 

facilities are based at Hidd, in a 

collection of parks and manufacturing 

and logistics areas known as Salman 

Industrial City. 

Source: eGovernment Data Bank and CBRE Research, MOICT 



MOICT Figures Industrial Zoned Land and Availability 

Source: eGovernment Databank /CIO 

The latest addition to the key 

industrial areas is the first freehold 

investment park, Investment Gateway. 

As the majority of the industrial 

zoned land in the Kingdom has Ministry 

of Industry, Commerce and Tourism 

(MOICT) oversight, there is a level of 

confidence provided to investors. 

The Kingdom has an active local 

workforce and expatriate population. 

Bahrain International Investment 

Park, located in Salman Industrial City, 

Manufacturing Value Added (%GDP) 2007 to 2015 

Source: eGovernment Authority 

while encouraging the development of 

the Bahraini workforce, also does not 

apply Bahrainisation regulations on 

employment within the park initially. 

Industrial is a key sector for real 

estate investment contributing 14.4% to 

Real GDP 2016. 

Bahrain EDB FDI figures increased 

by 100% from 2015 to 2016 year on year. 

With tourism and manufacturing leading 

the surge as the country reduces its 

reliance on the oil sector. Circa 80% 

of GDP contribution is from the nonhydrocarbon 

sector. 

International firms are supported 

by the Economic Development Board 

and other government organizations 

and strongly encouraged to invest in 

the Kingdom throughout their set up 

process. 

Strong demand anticipated for 

industrial property with continued 

positive take up trend. 

Manufacturing is an important 

component in the sustainable growth of 

the Kingdom of Bahrain. There has been 

an increase in demand for space and use 

of zoned land has increased dramatically 

over the past 15 years. 

The growth in this sector and 

increased land use has affected 

availability, leading to new development 

in this asset class, both in the pipeline 

and future planned. 

The growing take up of industrial 

land, shows demand and opportunity for 

further investment in this sector. 

An important area of growth for the 

Kingdom. Bahrain’s industrial zoned 

land has grown over the past decade 

with increased demand and strong 

take up and short supply, presenting 

opportunity. 

According to CBRE research the total 

area of industrial land in the Kingdom 

including MOICT and private projects 

has grown from over to just over 32 

square kilometers. 

Greenfield sites are available 

for development, pre built for lease 

and more recently zoned land with 

infrastructure provisions for purchase. 

New industrial parks provide high 

specification facilities. 

In 2005 Salman Industrial City was 

added to the industrial stock increasing 

capacity and improving Bahrain’s 

offering. 

Bahrain International Investment 

Park, Bahrain Investment Wharf and 

Bahrain Logistics Zone all provide 


47


Growth in Industrial Land Areas. 

at Hidd, who recently announced 

completion of infrastructure works 

worth US$66 million, a 600,000 square 

meter project offering approximately 394 

plots in the first phase. 

At CBRE, we are passionate about 

delivering market-leading real estate 

services that enable our clients to 

prosper - local services include: research 

& consultancy, development feasibility, 

valuation, asset services, property & 

facility management and advisory & 

transaction services. 

Source: Bahrain Economic Development Board and CBRE Research 

manufacturing and logistics facilities - 

both land and pre built. 

These parks provide storage facilities 

and industrial leasable land, offices and 

facilities as well as support for business 

set up with 100 % foreign ownership 

possible and no taxation guarantee for 10 

years (at BIIP). 

According to CBRE research, current 

MOICT ground lease rates sit at BD1 per 

square meter per year for industrial land 

with lease terms of 25 years and at BD4 

per square meter per year for support 

services on industrial land and BD9.000 

for commercial property, both on 15 year 

terms. This increases by 50% for sea 

front land. 

The introduction of freehold 

industrial property for foreign entities. 

A development to watch, is Manara 

Development’s Investment Gateway 

Key New Industrial Parks 

Source: eGovernment Authority 



49

ASAR | Corporate Law Analysis 

Regulating the Development 

of Mobile Payment 

by Steven Brown and Simone Del Nevo 

Bahrain is actively pursuing a 

policy of development of a local 

fintech industry involving different 

governmental authorities including the 

Central Bank of Bahrain (“CBB”) and the 

Economic Development Board (“EDB”). 

The EDB, in particular, is focused on 

attracting foreign investments in this 

field and making Bahrain a market 

leader in the field of fintech and mobile 

payment systems. The CBB, meanwhile, 

has launched a regulatory sandbox 

for the testing of mobile payment 

systems including partnering with 

local businesses in the development 

of technologically innovative retail 

payment systems. 

This represents a substantial step 

for Bahrain by looking to a wide range of 

businesses (instead of limited financial 

innovation to heavily regulated financial 

companies) that can bring unique 

skills and ideas to this developing field. 

This represents an important step for 

Bahrain which had been lagging behind 

Western jurisdictions and the GCC 

in the mobile payment and financial 

technology markets. 

The first step toward opening 

Bahrain to financial technology has 

been to develop a fluid regulatory 

regime designed around creating 

customer and business protection 

without pigeon-holing development 

with extensive strictures on design and 

operations. The CBB has accomplished 

this using a “sandbox” regulatory 

framework. The use of regulatory 

sandbox has become commonplace 

in the last few years. The FCA, the 

United Kingdom’s financial regulatory 

as well as regulators in Singapore and 

Australia have introduced regulatory 

sandboxes to enable development of 

the fintech industry in their countries. 

Bahrain’s move to join these developed 

economies and to parlay their success 

while avoiding traps and pitfalls from 

those jurisdictions will allow Bahrain to 

participate in the next wave of feasible 

innovation in technological financial 

services. 

Bahrain Regulatory Sandbox 

Following a public consultation 

process, the CBB has launched its 

regulatory sandbox framework in June 


ASAR | Corporate Law Analysis 

2017 for fintech companies in Bahrain 

(the “Sandbox”). The Sandbox creates 

a framework for both CBB-licensed 

financial institutions and other firms to 

test their technology-based innovative 

solutions. Access to the Sandbox is 

limited by a system of submission and 

acceptance of applications by would-be 

participants. The Sandbox application 

process is open to both existing CBB 

licensees (financial institutions with 

technologically innovative initiatives) 

and other companies, whether Bahraini 

or foreign. Among the foreign entities 

being invited to participate include 

financial sector companies as well as 

(i) technology and telecom companies 

intending to test an innovative product 

or service, (ii) professional service 

firms which partner with or service 

financial institutions, or (ii) any other 

type of applicant working within the 

financial services industry (who must 

be deemed acceptable by the CBB). 

Following admission to the Sandbox, a 

second phase of testing the technology 

in a controlled environment would be 

commenced. The testing of a product or 

service may be limited in terms of the 

number of volunteer customers and/ 

or the net value amount of transactions 

(to be decided by the CBB on a case by 

case basis). The ordinary duration of the 

Sandbox trial would be 9 months with 

a maximum extension of three months 

for accepted fintech solutions. Eligibility 

requirements on which applications are 

assessed include three major elements: 

The first major element is innovation of 

the solution to be tested in the Sandbox, 

whether as a result of the use of a new 

technology or of the new use of an 

existing technology. The second major 

element is the benefit that the solution 

is expected to create for customers. The 

third major element is the technical 

soundness of the solution. Access to the 

Sandbox is functional to the deployment 

of the proposed solution in Bahrain; 

therefore, any applicant must evidence 

the intention and ability to scale-up 

deploy the solution to the general 

Bahrain public. 

The CBB is expected to respond to 

any application within 15 days after the 

submission of all required documents 

and information by the company or 

individual applicant; the CBB may 

also consider relaxing certain legal 

and regulatory requirements while 

maintaining others for a particular 

application. Certain regulations, 

however, would not be eligible for 

such exemption, including: CBB 

regulations on confidentiality of 

customer information, Know Your 

Customer (KYC) requirements, Anti 

Money Laundering (AML) systems and 

Countering Financing of Terrorism (CFT) 

regulations. Further rules are laid down 

in respect to matters such as custody of 

client’s money. 

E-wallet Initiative 

In the course of 2017, the Benefit 

Company, a Bahraini company provider 

of payment settlement services has 

launched, in a joint initiative with the 

CBB, the National Mobile Electronic 

Wallet (BenefitPay), a payment system 

which allows customers to use their 

smart phones as a payment medium. In 

particular, the system will be accessible 

through a mobile application that allows 

users to make or receive payments 

without the use of cash or credit and 

debit cards. The system is still in the 

deployment phase and is supposed 

to be integrated with other payment 

infrastructures handing retail payments 

in the Kingdom. 

Crowd-funding 

Bahrain has recently adopted an ad 

hoc regulatory framework for financingbased 

crowd-funding for conventional 

and Shari’ah compliant markets. Key 

aspects of such framework include 

requirements applicable to the operator 

of the crowdfunding platform, which 

must have a minimum capital of BD 

50,000, and requirements as to who can 

raise and provide financing by accessing 

such platform and ensuing limitations 

and restrictions. In particular, only small 

and medium sized businesses with paid 

up capital not exceeding BD 250,000 can 

raise funds through the crowd-funding 

platform. Only expert and accredited 

investors (as defined in the relevant 

regulations) are allowed to provide 

financing through these platforms, 

which are thus unavailable to retail 

investors in light of the higher risks 

implicated in the activity. Quantitative 

limitations are also in place for, inter 

alia, the maximum amount which can 

be borrowed by each borrower and the 

maximum exposure that each lender 

might have vis-à-vis a single borrower. 

Conclusion 

Bahrain is pushing into the age 

where physical currency and traditional 

plastic cards can be replaced with 

mobile phones able to be loaded with 

funds and utilized. Developments such 

as short term credit (akin to credit 

cards) and other forms of fintech 

financing may be around the corner. The 

development of regulated crowdfunding 

can protect consumers while allowing 

broad participation in product and 

service innovation. This would also 

enable non-traditional businesses and 

start-ups access to a deeper well of 

resources by passionate consumers 

whereby market development can 

coincide with innovation financing. 

We have seen a lot of press 

which may be overselling mobile 

payment systems. It is important to 

understand the balanced interests of 

mobile payment systems and physical 

currency - just as some retailers will 

not accept credit cards, mobile payment 

systems may not bridge all commercial 

transactions. Finally, the unique risks 

associated with fintech cannot be 

ignored; the replacement of pin numbers 

with phone swipes and physical dinars 

with digital ones can open the door to 

more devious technological innovators 

seeking to access and extract digital 

funds. The Sandbox provides a generally 

safe environment to identify risks and 

design security systems to overcome 

them, similarly to how security features 

such as one-time passwords (“OTP”) 

have been developed to mitigate risks 

associated with credit card theft. 

The Sandbox will allow developers to 

consider the consequence when a single 

device is both the payment system and 

the communication medium. 

Steven Brown and Simone Del Nevo 

Senior Associates 

ASAR - Al Ruwayeh & Partners 


51

Specialist | Public Speaking 

Perfecting 

Your Pitch! 

by Mohamed Isa 

So, you came up with most innovative 

business idea that will take the 

markets by a storm. Once you execute 

it successfully, it will rain dollars and 

dinars in your bank accounts. Your 

dreams of owning a mansion, a red 

Ferrari and going on a cruise for 90 days 

in the Caribbean will all be a reality. 

But before you get more excited, do you 

have the required funds to launch your 

business? Chances are, you don’t! 

Funding could be your biggest 

challenge. And pitching to potential 

investors is inevitable. Pitching could 

be a daunting task if you do not follow a 

proven process to persuade the investors 

to believe in you first and then in your 

brilliant idea. Based on my business 

experience and research, I recommend 

that you consider the following elements 

in preparing your speech/pitch using the 

PITCH acronym: 

P Passion. Passion is contagious. 

Show the potential investors how 

passionate you are when it comes to 

your business idea. You must smile 

to show your passion. Let your eyes 

sparkle. Use your most effective weapon 

in your arsenal to show them your 

passion: Your voice. Convey your energy, 

excitement and confidence using your 

voice. Show them that you truly believe 

in the potential of your idea. 

I Inside-out. Show the potential 

investors that you thought inside-out 

about your business idea not only 

in terms of the standard Strength- 

Weaknesses-Opportunities & Threats 

Analysis (SWOT) Model but also Key 

Differentiators and Key Success Factors. 

Show them how you will manage the 

customer experience from acquisition 

to retention. And show them exactly 

how you will manage potential risks 

associated with the business. In essence, 

show them you did your homework. 

How about creating a FAQ sheet you can 

hand out after your pitch is finished? 

Remember, be different or be forgotten! 

T Timing. You must have variations of 

your pitch. Some potential investors may 

only give you few minutes to evaluate 

the merit of your idea while others may 

give you more than that. Practice each 

variation so that you become ready all 

the time to match the available time 

of potential investors. Now, can you 

convince me to invest in 60 seconds? 90 

seconds? Or in 3 minutes? 

C Cash. Be clear on how much cash 

do you need to start your business, how 

the cash will be allocated in the different 

stages of the business and on what 

activities. And most importantly, when 

it is likely that the investors will be paid 

back in terms of dividends and potential 

sale of their investment. Communicate 

all of this clearly and succinctly. 

H Honey. Show them the honey and 

they will show you the money! What 

happens when you take some honey 

from a jar? Some honey is bound to stick 

to the spoon. Your closing remarks in 

your pitch should be sticky like honey. 

You should end your pitch with why 

your investment opportunity is too good 

to be missed? Think hard and long about 

your closing. It is your last chance to 

convince potential investors to invest in 

your startup. End with a call to action. 

And the action is very clear: Getting 

their commitment. 

Perfecting your pitch requires 

diligence and hard work. One time, I 

wore the hat of an investor to evaluate 

a pitch for an internet startup. After 

two hours of watching and listening, 

I reshuffled the slides, added more 

diagrams and pictures, I changed the 

introduction and the closing of the pitch. 

And most of all, I injected more passion 

into the pitch because the presenter 

forgot about that completely. The 

presenter was frustrated with my many 

changes. You should not be like him. It 

takes time and hard work. Perfecting 

your pitch is an iterative process. 

Take the time to study the 

personality of your potential investors 

and their investment preferences & 

portfolio, craft & re-craft your pitch until 

you feel right about it. Rehearse it with 

your friends and your mentors. Practice 

makes progress. And remember, if you 

do not sound great, your idea will never 

sound great. All the best in perfecting 

your pitch! 

Mohamed Isa is an 

Executive Speech 

Coach & a Bestselling 

Author. Reach him at 

mohamed@3dspeaking.com 



53

Expert Viewpoint | Investor Behaviour 

Why People Contribute to Crowdfunding, 

What are the Pitfalls & What if you Fail 

by Jose Paul Martin 

In our last two editions, we covered 

the WHAT & WHY of crowdfunding, 

but before you jump in further, try to 

understand why people contribute, what 

are the pitfalls and what you can do if 

your crowdfunding campaign fails. 

If you’re a venture capitalist or 

investor, there’s a different set of reasons 

why you should consider crowdfunding: 

1. Emerging Markets - Crowdfunding 

is fast evolving as a powerful business 

tool that will create a new breed 

of entrepreneurs and investors in 

emerging markets. It is likely to reduce 

the communication gap between the 

investor and entrepreneur. 

In markets like the Middle East, 

where there is unequal access to capital, 

crowdfunding could act as a great leveler 

and help create meaningful partnerships 

between regional governments and 

investors. 

2. Attracts The Young Crowd - Younger 

people are attracted to crowdfunding 

and think of it is as a tool to get involved 

directly with causes they are supporting. 

People in their 20s & 30s (the Millennials) 

like to fund something which they can 

connect to and have interests in. 

3. Incubation platform - Crowdfunding is 

turning out to be the world’s incubation 

platform. In the past, entrepreneurs 

had to approach banks, institutional 

investors or VCs for funding, so most 

ideas were subjected to selection by a 

few people. With more and more people 

looking forward to participate in the 

world’s incubation platform, it’s expected 

that crowdfunding will improve the 

health of the financial ecosystem. 

4. Tap into a new ecosystem - Equity 

crowdfunding in particular throws open 

a myriad of opportunities to mentors, 

advisors and partners to connect to 

various local communities and invest 

online. Also, many countries are 

implementing new legislation to help 

entrepreneurs’ access capital online. 

What Are The Disadvantages of 

Crowdfunding? 

Uninformed Contributors - The people 

who donate or invest in crowdfunding 

by and large may not be as smart as 

the venture capitalists or the investors 

whom you would come across in the 

traditional funding route. There is a lack 

of professionalism, which is not the 

case when institutional investors are 

involved. 

Transparency - There is too much 

information about your product on the 

public domain. It is difficult to enforce 

trademarks and patents across the 

globe. Competitors may rip-off your 


Expert Viewpoint | Investor Behaviour 

idea or product and use it as their own. 

There are instances where simultaneous 

crowdfunding campaigns have been 

run on well-established platforms with 

stolen ideas. 

Reputation At Stake - If your project 

fails to gain the required attention and 

publicity, you would feel embarrassed. 

Failure could be due to poor 

management skills and miscalculation 

of market demand, but the fact that the 

project failed will remain for long in 

everybody’s memory. This could pose 

as a hurdle in raising funds in future. 

Unless, of course you’re immune to 

failure! 

Number Of Investors - It might be 

difficult for a first time entrepreneur to 

manage the expectations of all investors 

at a time. The investors could also mount 

pressure to start the business as soon 

as possible, or may want to receive their 

rewards or incentives at the earliest. 

Personal Campaigns - Crowdfunding 

addresses the needs of individuals. 

Impulse donating to single-issue causes 

is common, say to a woman who is 

undergoing treatment or a student 

who wants to fund his education. 

This individual funding nature of 

crowdfunding may act as a deterrent to 

big charity organizations like the Red 

Cross. 

What if your crowdfunding campaign 

fails? 

You put your heart and soul into 

launching your campaign. You work 

really hard to set up a site, pitch to 

friends and family, and do everything 

possible to succeed. Yet things don’t 

work in your favor. It’s a tough pill to 

swallow when things simply don’t work 

the way you expect them to. 

While the number of crowdfunding 

campaigns being launched continues 

to skyrocket, not all crowdfunding 

campaigns meet their funding goals. 

For every successful campaign on 

Kickstarter, there are two that don’t 

succeed. The case on Indiegogo is much 

worse, with 9 out of every 10 projects 

failing. 

Crowdfunding campaigns fail the 

first time for several reasons, but that 

doesn’t mean you can’t give it a shot 

again. If your campaign has failed, 

instead of fretting over it, scrutinize the 

reasons for the failure and bring out the 

best in your second attempt. 

But before we discuss what you 

should do if a crowdfunding campaign 

fails, let’s quickly analyze why 

crowdfunding campaigns fail. The 

failure could be attributed mainly to one 

of the following reasons: 

1. Video was too long or complicated 

and not strong enough to convince. 

2. Campaign was marketed to the 

wrong crowd on an incorrect 

platform. 

3. Untimely launch. 

4. Launch lacked momentum. 

5. There was nothing innovative or 

new that was offered, campaign was 

not unique. 

6. Funding goals were unrealistic. 

7. Campaign perks were not unique, 

personal or scarce. 

8. Campaign had low exposure/ 

popularity, not enough social 

capital. 

9. Project owner lacked enough 

experience. 

10. The campaign was promoted online 

only. 

11. Not enough planning and campaign 

run-time was too short. 

So, What Do You Do When Your 

Crowdfunding Campaign Fails? 

All’s not lost. Let’s admit it could be 

one of the best experiences in your life. 

But here are a few things that you can do 

after you have failed: 

1. Accept the failure - This is the most 

difficult task, and it’s intimidating when 

this reality hits you hard in the face, but 

you don’t have a choice if you want to 

succeed. Pick yourself up and try again 

with renewed vigor. 

2. Recognize the positives in your 

campaign - The next step after accepting 

the failure is to do a post-mortem 

of the campaign. Sit with your team 

and analyze what was good and what 

went wrong. You can start off with the 

positives first: focus on what you and 

your team did well. For instance, which 

strategies worked, why some people 

contributed to your campaign, etc. The 

idea is to strengthen these areas when 

you launch your next campaign. 

3. Identify what went wrong - Try 

and analyze the reasons under “why 

crowdfunding campaigns fail”. You may 

need to ponder over the very idea of your 

project and the platform you used. Also, 

identify what you spent too much time on 

and what caused delays, if there were any. 

4. Make a plan for your next attempt - To 

quote Henry Ford, “failure is simply the 

opportunity to begin more intelligently.” 

Failed crowdfunding campaigns could 

well turn out to be golden opportunities. 

Learn from your mistakes and chart out 

a plan on what you would do differently 

the next time. Focus on making your 

next campaign a success. 

Jose Paul Martin is a private 

equity investor & advisor 

currently focused on IT & 

Healthcare sectors in the 

Middle East, US & Asia. He 

is also MD of Eqoris Group & 

Author of The Pitch Process 

Framework 

http://pitchprocess.com 


55

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Rover Velar features the latest in design, innovation and 

technology. 

Torque-on-demand All Wheel Dive (AWD) delivers 

outstanding on road performance and full off-road 

capability. To maintain optimum traction for assured 

progress in all conditions, Range rover velar’s drive is 

connected and delivered thanks to a carefully engineered 

suite of technologies. 

From effortless, crisp acceleration to improved 

efficiencies and lower CO2 emissions, every engine that 

powers the Range Rover Velar has been optimised. The 

new lightweight aluminium 4-cylinder and powerful V6 

engines delivers a responsive drive with the vehicle’s 

automatic transmission producing rapid shifting together 

with exhilarating acceleration and performance. 

Carry your wet suites, body boards and suitcases with 

ease. Enjoy extra storage of 1202 litres with 4 seats and 673 

litres with 5 seats configuration. 

The Velar and Velar R-Dynamic core range comprises 

Standard, S, SE and HSE specifications. 

Dealers in Bahrain: Euro Motors 

58 Call: +973 17 460677, September-October or Visit - www.euromotors.com.bh 

2017

NEW VOLVO XC60 

Volvo XC60 overall architecture and design for both the 

interior and exterior make it one of the most beautiful 

cars to own, and the price range also makes it more 

affordable than similar luxury SUVs, which puts it in a unique 

position in this market. 

The all-new XC60, banks on Volvo’s heritage of designing 

stylish and dynamic SUVs, with an exterior sculpted with subtle, 

timeless elegance and a masterful interior of well-resolved 

architecture, beautiful materials and the very latest technology. 

Some of the most notable improvements include a state-ofthe-art 

infotainment system and more legroom for rear-seat 

passengers. 

The five-passenger compact SUV is offered in three main 

trim levels: Momentum, Inscription, and R-Design, which are 

further differentiated by two engine choices: T5 and T6. T5 is 

powered by a turbocharged four-cylinder engine that produces 

254 horsepower, while the T6 receives a supercharger in addition 

to the turbocharger for a power increase to 320 hp. 

The new safety features include an updated City Safety 

technology with steering support which guides your car to avoid 

obstacles, a newly added Oncoming Lane Mitigation system that 

ensures drivers don’t wander out of their lane, and an optional 

Blind Spot Information System which will alert you if there is 

something in the driver’s blind spot. 

The XC60 SUV’s starting price is BD. 14990. For more 

information on the Volvo XC60, visit Motorcity Sitra, call 

17736222 or search volvoxc60 

Dealers in Bahrain: Motorcity 

Call: +97317736222, September-October or Visit - www.motorcity.com.bh 


59

Highlights | Government 

Bahrain ranked as Best 

Global Destination for Expats 

Bahrain has been named the best 

destination globally for expats in a 

survey by network InterNations. 

The country jumped from 19th place 

last year to 1st in 2017 of Expat Insider 

survey with regard to topics involving 

softer factors, like friendliness, family 

life, and personal happiness. 

The Kingdom stood third in the 

working abroad index, second in the 

job and career and work-life balance 

subcategories and jumped 13 places in 

the personal finance category, with 68% 

of expats generally satisfied with their 

financial situation and 41% earning a lot 

more than they would back home. Nearly 

nine in 10 (87%) expats were found to 

be satisfied with life in general in the 

country. 

Bahrain’s Non-Oil sector 

growth accelerates to 4.4% 

Growth in the non-oil sector of 

Bahrain’s economy reached 4.4% 

in the first quarter of 2017, up from 3.7% 

during 2016, according to the Bahrain 

Economic Quarterly published by the 

Bahrain Economic Development Board 

(EDB). 

This growth was driven by strong 

performance across the non-oil private 

sector, with momentum continuing to be 

supported by large scale infrastructure 

projects. Overall, during the first three 

months of 2017 the Bahraini economy 

expanded by 2.9%, in line with the 3% 

pace seen in 2016 as a whole. 

The first three months of 2017 saw 

particularly strong growth in the hotels 

and restaurants, financial services and 

transportation and communications 

industries. Hotels and restaurants 

emerged as the fastest growing single 

sector during Q1, posting a 12.3% yearon-year 

real rate of expansion and 

Other notable rankings included 

a jump from 34th to 10th for family 

life, from 22nd to sixth for quality 

of education and 32nd to 11th for 

availability of childcare and education. 

Bahrain also maintained its position 

in the cost of living index at 28th but 

performed less positively for state of the 

economy (25th) and job security (18th). 

While the Gulf states are close to 

each other in geographical terms, the 

local expat population sees them very 

differently, the survey said. Oman stood 

closest in 17th place followed by the 

UAE, up 14 places to 26th. 

Further down the list, Qatar ranked 

in 58th and Saudi Arabia stood in 61st 

while Kuwait, which maintained its 

position in the bottom three for the 

fourth consecutive year, was 64th after 

climbing one place from the lowest 

ranking in 2016. 

The Gulf countries were particularly 

valued for their earning potential with 

a third of expats in Qatar earning more 

than $100,000 a year and more than six 

in 10 in each Gulf country believing their 

income was a lot higher than a similar 

position back home. 

This was despite more than five in 

financial services continued along its 

strong growth trajectory reported last 

year, posting an annual expansion of 

8.3% at the end of Q1 compared to 5.2% at 

the same in 2016. The transportation and 

communications sector also performed 

strongly, with an annual real growth rate 

of 8.2% in Q1. 

10 respondents in Bahrain 53%, Kuwait 

62%, Oman 63% and Saudi Arabia 52% 

having a yearly income of less than 

$50,000. 

The contrast is even more striking 

compared to Bahrain: exactly onequarter 

of expats in Bahrain felt at home 

there nearly right away, and another 

58% started feeling this way within the 

first two years. This impressive result 

might be, among other things, due to a 

warm welcome by the local population. 

Nearly nine out of 10 expats in Bahrain 

(86%) rate the factor friendliness towards 

foreign residents positively. Bahrain is 

also excellent for finding friends as 73% 

of expats living there are satisfied with 

making new friends abroad. 

In addition to Bahrain, this year’s top 

10 destinations for expats are Costa Rica, 

Mexico, Taiwan, Portugal, New Zealand, 

Malta, Colombia, Singapore, and Spain. 

The survey ranks 65 countries by a 

variety of factors such as quality of life, 

working abroad, and settling in. 

With nearly 13,000 respondents 

living and working abroad, it is one 

of the most extensive expat studies, 

conducted yearly by InterNations, the 

largest expat community worldwide. 

Underpinning the near term 

momentum in Bahrain’s non-oil 

economy is the large amount of 

investment in infrastructure that 

the Kingdom is experiencing. This 

includes the USD3bn Alba Line 6 

project-which is set to create the world’s 

largest single-site aluminium smelter. 

USD1.1bn is being invested in the airport 

modernisation programme and a further 

USD335m earmarked for a new Banagas 

gas plant. Expressions of interest have 

been solicited for the construction of 

the King Hamad Causeway which will 

add to the existing King Fahd Causeway, 

connecting Bahrain to Saudi Arabia 

and serving as a platform for the GCC 

railway. 

Active projects that are part of 

the GCC Development Fund also saw 

a further increase in their aggregate 

value. The cumulative total worth of GCC 

Development Fund projects that had 

broken ground by Q2 of 2017 reached 

around USD3.2bn. This marks a 111.3% 

increase on the active pipeline from Q1 

of 2016. 


14% Increase in Inbound 

Tourism 2017 

The Kingdom of Bahrain welcomed 

5.6 Million visitors during the first 

half of 2017, an increase of 14% compared 

to the same period in 2016, revealed by 

the Bahrain Tourism and Exhibitions 

Authority (BTEA). 

The tourism statistics revealed 

comes as part of an agreement developed 

between BTEA and the Information and 

eGovernment Authority to implement the 

‘Tourism Expenditure Survey to Quantify 

Inbound and Outbound Tourism for the 

year 2017’, which was introduced for 

the first time in the Kingdom under the 

Tourism Statistics Development Program 

for the years 2016-2017. 

“Inbound tourism expenditure during 

the first half of 2017 amounted to BD 

631.4 million while the average tourist 

expenditure per day reached BD 77 per 

day,” said the CEO of Bahrain Tourism and 

Exhibitions Authority, H.E. Shaikh Khaled 

bin Humood Al Khalifa. 

“Also total nights booked during the 

first half of 2017 totaled to 4.7 tourist 

nights with Average Length of Stay 

(ALOS) reaching 2.3 night per tourist. 

Hotels topped the list of the type of 

accommodation booked by travelers, with 

over 70% of travelers coming through 

the Bahrain International Airport and 

72% travelling through the King Fahad 

Causeway opting for a hotel stay,” he 

added. 

Other statistics revealed include an 

increase in the overall usage of mode 

of transport during the first half of 2017 

with an increase of 13% in the number of 

tourist accessing the Kingdom through 

King Fahad Causeway, equivalent to 

4.9 Million visitors. Also the Bahrain 

International Airport witnessed an 

increase of 23% which is equivalent to 

616,230 visitors and Khalifa bin Salman 

Port recorded an increase of 44% which 

equals to 43,191 visitors. 

BTEA also revealed that 57% of tourists 

visiting Bahrain stated ‘holiday and 

leisure’ as purpose of the visit, while 22% 

mentioned shopping followed by 9% for 

friends and families, 7% for business, 2% 

for health care and 3% for other reasons. 

The Kingdom of Bahrain also 

welcomed 63% of same day visitors (less 

than 24 hours), which is equivalent to 

635,454 tourists, and 37% of tourist trips 

(more than one night) during the first half 

of 2017. 

The Bahrain Tourism and Exhibitions 

Strategy ‘Ours Yours’ is based on four 

pillars in a step to further develop the 

tourism sector as a main contributor 

to the national economy. The strategy 

is based on four pillars ‘awareness, 

attraction, access and accommodation; 

including the improvement in the 

overall accessibility to the Kingdom 

of Bahrain, attracting exhibitions and 

conferences to the Kingdom, improving 

the quality of services in the tourism and 

hospitality sectors, and strengthening 

the position of the Kingdom as an ideal 

tourist destination for families and 

international tourist. BTEA also launched 

its representative offices in Saudi Arabia, 

United Kingdom, Germany, France, India, 

China and Russia in order to further 

solidify its strategy. 

Key Projects with Saudi 

Development Fund 

Ministry of Works, Municipalities 

Affairs and Urban Planning of 

Bahrain’s officials discussed and followed 

with the Saudi Development Fund on 

roads and construction projects funded 

by the Saudi Development Fund and 

implemented by the ministry as part of 

the Gulf Development Program. 

The projects discussed include: 

• Six schools located in different 

governorates in Bahrain. The 

ministry has handed over three 

schools to the Ministry of Education, 

namely Busaiteen Intermediate 

School for Girls, Hunainiya 

Secondary School for Boys and 

Phase One of Isa Town Elementary 

School for Boys. The final procedures 

to hand over Hamad Town 

Intermediate School for Boys are 

presently being taken. The Malkiya 

Elementary/Intermediate School 

for Girls has also been recently 

completed and is planned for hand 

over by the end of this month. The 

ministry is currently working on the 

construction of Jaw Comprehensive 

School for Girls, with 28 per cent 

progress already achieved. 

• Two developments being 

implemented for the benefit of 

the Ministry of Health under 

the programme, aided by Saudi 

Development Fund. The projects are: 

A long-stay care centre in Muharraq, 

for which tender bids are expected 

to be invited by the end of next 

month; and a dialysis centre in Riffa, 

which is under implementation with 

a progress of 35 per cent. 

• A number of road projects are being 

implemented under the programme, 

including Saar Interchange Revamp 

Project, Sheikh Khalifa bin Salman 

Highway Revamp Project and the 

revamp of the roads surrounding 

Bahrain International Airport. 

The meeting also discussed 

beautification works along the 

Sheikh Khalifa bin Salman Highway, 

progress achieved in each one of 

the projects, the final cost for each 

project and the prequalification of 

contractors for the projects. The 

meeting also referred to the revamp 

of Al Fatih Highway, especially 

preliminary works that include the 

transfer of services on the road. 

• The meeting shed light on the 

technical and practical details 

related to the sanitary projects 

funded by the Saudi Development 

Fund, including the progress 

achieved in the fourth expansion of 

Tubli Sewage Treatment Plant. 


61

Free Hotline Service for 

NIHR 

The National Institution for Human 

Rights (NIHR) has stated the new 

communication centre to receive 

complaints and queries on the free 

hotline number 80001144. 

NIHR Acting Secretary General Dr. 

Khalifa Ali Al Fadhel said the service 

is part of the institution’s keenness to 

upgrade its communication mechanisms 

with people in Bahrain to ensure utmost 

protection of human rights. He called on 

the service users not to hesitate to lodge 

any complaint with the institution by 

calling the hotline throughout the week, 

except Friday and Saturday, from 8 a.m 

to 3 p.m. 

It is also possible to communicate 

with NIHR via its website or social media 

(Instagram, Twitter) to reply to any 

complaints or related queries. 

BD31m Sewage Plant Close 

to Completion 

The BD31 million Sewage Treatment 

Plant and Long Sea Outfalls project 

at Al Madina Al Shamaliya, is one of the 

biggest sewage treatment projects in 

the Kingdom, is equipped with tertiary 

treatment (final filtration) and sludge 

treatment using aerobic digestion and 

thermal drying is nearing completion. 

The project is being implemented by 

VA Tech Wabag Limited in cooperation 

with the Housing Ministry. The 40,000 

cubic metre-a-day project was awarded 

to Wabag in 2015. 

“The project, which allows the 

purified water to be reused for the entire 

irrigation water requirements for all 

13 islands is in the advanced stages of 

construction after completing close to 

20,000m3 of concrete works and 4.5km 

of pipe laying works, including 1.2km 

offshore works, for the Long Sea Outfall,” 

Rajiv Mittal, Group CEO and Managing 

Director of VA Tech Wabag Limited said. 

Rajiv Mittal revealed that Wabag 

will run the facility and its maintenance 

for a period of 10 years for the Works, 

Municipalities Affairs and Urban 

Planning Ministry. 

The project includes a terminal lift 

pumping station to receive sewage from 

the Island’s deep gravity sewer network, 

which will then be screened and fed 

to a biological treatment mechanism. 

This involves removing nutrients 

before passing it through disc filters for 

tertiary treatment which also removes 

helminths eggs. The sludge, a by-product 

of the process, will be aerobically 

digested and treated in a diesel fired 

dryer before placing it equally in 25kg 

bags for distribution. There is also a 

provision to run the entire plant on 

diesel generators in case of a power 

failure. 

The BD208 million Al Madina Al 

Shamaliya (AMAS) is a mixed-use 

development project creating a new 

urban town located on reclaimed land 

off the northern coast of the Kingdom. 

The project is expected to deliver 

around 4000 residential units under 

an affordable-housing scheme by the 

Ministry of Housing. Foundation stone 

of the project, funded by the Abu Dhabi 

Fund for Economic Development (ADFD), 

was laid by the Prime Minister HRH 

Prince Khalifa bin Salman Al Khalifa in 

the 2000. 

54 million m3 Water used 

for Farming in 2016 

Water used for agricultural purposes 

in 2016 was amounted to 54 million 

cubic metres, said Shawqi Al Mandeel, 

Sanitary Engineering Operation & 

Maintenance Director of the Ministry of 

Works, Municipalities Affairs and Urban 

Planning. 

Treated sewage water is being used 

for irrigation purposes at public parks, 

landscaping, industry, construction 

and other purposes, in accordance 

to environmental requirements and 

the possibility of using treated water 

in coordination with the concerned 

authorities. Tubli Sewage Treatment 

Plant receives the treated water tankers 

belonging to farms every week, which 

they distribute free of charge to those 

wishing to benefit from it in agriculture. 

As for water produced at plants and 

is used for agricultural purposes and 

landscaping, Tubli Sewage Treatment 

Plant last year produced 53 million 

cubic meters, while North Sitra Plant 

produced 237,000m3. Muharraq Sewage 

Treatment Plant produced 246,000m3, 

the University of Bahrainproduced 

167,000m3, while Hamala Plant produced 

183,000m3, and Jaw Plant produced 

29,000m3. All flows were used for the 

irrigation of green spaces. 

Al Mandeel stressed that treatment 

systems used in all plants are 

considered to be the latest globally 

recognized treatment systems that 

produce high quality waters. The 

plants are operated through the remote 

control system (ESCADA), where the 

Ministry managed to reduce pressure 

on its plants by the adoption of modern 

treatment systems and the expansion of 

some plants. 

Treated water produced by the 12 

plants using the tri-treatment method is 

considered to be one of the best available 

treatment methods, which conform 

to the specifications determined and 

approved by the Ministry of Health. 


27 Sept. 2017 

THE MACAO 

CHINESE ORCHESTRA 

Tickets are sold at Virgin 

Megastore & online at: 

BAHRAIN NATIONAL THEATRE . 8 PM 


63

Highlights | Banking & Finance 

Positive results for 

Bahrain Insurance sector 

The Central Bank of Bahrain announced 

that the insurance industry has shown 

positive results in the year 2016, with 

general insurance business (including 

Medical insurance business) contributing 

81% to the gross premiums. 

A significant part of such results 

attributed to a surge in Medical insurance, 

which has increased from BD 52.20 

million in 2015 to BD 62.11 million in 

2016, showing an increase of around 19% 

and representing almost 23% of the total 

premiums/ contributions written in the 

insurance market in 2016. 

Total gross premiums in Motor 

insurance has increased from BD 76.16 

million in 2015 to BD 78.88 million in 2016, 

showing an increase of around 4%. Motor 

insurance is the largest in terms of gross 

premiums which represented around 

29% of the total premiums/contributions 

written in 2016. 

Total gross contributions of Takaful 

Firms registered BD 60.43 million in 2016. 

Gross contributions of Takaful Firms 

represent around 22% of the total Bahrain 

gross premiums/contributions in 2016. 

By end of 2016, Bahrain’s domestic 

insurance market comprised of 25 Locally 

Incorporated Firms and 11 Overseas 

Insurance Firms (branches of foreign 

companies) carrying out Insurance, 

Reinsurance, Takaful, Retakaful and 

Captives business in Bahrain. The 

locally incorporated firms consisted 

of 14 Conventional Insurance Firms, 6 

Takaful Firms, 2 Reinsurance Firms, 2 

Retakaful Firms and 1 Captive, while 

Overseas Insurance Firms consists of 

8 Conventional Insurance Firms and 3 

Reinsurance Firms. In addition, there are 

a substantial number of firms restricted 

to carry out business outside Bahrain and 

insurance ancillary services. 

By end of 2016, there were five 

conventional Reinsurance Firms and two 

Retakaful Firms in Bahrain. The gross 

premiums/contributions of Reinsurance 

and Retakaful Firms reached BD 378.97 

million in 2016. 

Gross premiums/contributions 

generated in the domestic market 

amounted to BD 272.04 million (US$ 721.60 

million) in 2016 compared to BD 272.81 

million (US$ 723.63 million) in 2015. 

Long-term (life and savings products) 

insurance generated gross premiums/ 

contributions amounted to BD 51.62 

million (US$ 136.92 million) in 2016. 

The long-term insurance premiums/ 

contributions represented 19% of the 

total premiums/contributions written by 

insurance market in Bahrain in 2016. 

Fire, Property & Liability insurance 

premiums/contributions represented 

15% of the total premiums/contributions 

written by insurance market in Bahrain in 

2016. Fire, Property & Liability insurance 

premiums/contributions totaled BD 

40.31 million (US$ 106.92 million) in 2016 

compared to BD 47.32 million (US$ 125.52 

million) in 2015. 

Bahrain is fast becoming a hub 

for major regional and international 

reinsurance and retakaful firms. 

Solidarity Takaful 

to merge with Al Ahlia 

Insurance 

Solidarity General Takaful, aims to 

consolidate its position as one of the 

top insurance players in Bahrain through 

its merger with Al Ahlia Insurance 

Company which will be effected in 

December 2017. 

The combined entity, which is set to 

be named "Solidarity Bahrain", will have 

a paid-up capital of BD11.2 million and 

an estimated 15 % market share with 10 

branches serving customers throughout 

the country, making it the largest Takaful 

Insurance Company in Bahrain. 

Solidarity General Takaful 

shareholders will be entitled to receive 2.5 

shares of Al Ahlia stock for each share of 

Solidarity General Takaful, on the basis of 

the independent valuations as required by 

the Central Bank of Bahrain. 

In order to facilitate the merger, 

Al Ahlia shareholders approved the 

conversion of the insurance license from 

conventional to Islamic insurance license 

AbdulEllah Ashraf Beau Jawad Mohammed 

(Takaful). They also approved the increase 

of the authorised share capital of Al Ahlia 

to BD12m. 

AbdulEllah Al Qassimi, Vice-chairman 

of Al Ahlia said, "Under Solidarity Bahrain, 

we will draw on our decades of experience 

to push the boundaries of customer 

service innovations and remain focused 

on delivering outstanding returns to our 

stakeholders. The merged human resource 

base will provide for the range of a strong 

and capable human capital pooled from 

within the existing resources." 

Ashraf Bseisu, Solidarity Group 

Holding chief executive said, "We 

believe that consolidation has become 

a necessity to create larger and stronger 

financial institutions capable of offering 

a unique customer experience. Solidarity 

Bahrain, the new merged entity, will result 

ultimately in being the largest Takaful 

company and one of the leading top-tier 

insurance players in Bahrain." 

Solidarity Bahrain will be headed 

by Jawad Mohamed, who said, "This 

is the first insurance industry merger 

Bahrain has seen in 20 years. We expect 

the merger to significantly intensify and 

strengthen our combined ability to serve 

our retail customers and corporate clients 

that made both Solidarity General Takaful 

and Al Ahlia successful.” 


Al Hilal Takaful Customer 

risk strategies managed 

by Emirates NBD Asset 

Management 

Emirates NBD Asset Management, 

with USD 4.49 billion in assets under 

management (AuM), has been appointed 

by Al Hilal Takaful, Bahrain’s top provider 

of family Takaful services, to manage three 

risk-graded Shari’a compliant investment 

strategies. Through Emirates NBD Asset 

Management’s range of Shari’a products, 

Al Hilal will gain exposure to global Sukuk, 

global equity, MENA equity and emerging 

market opportunities. 

Al Hilal Takaful, 100%-owned by 

Bahrain’s Ahli United Bank (AUB), selected 

Emirates NBD Asset Management on the 

basis that it provides one of the Middle 

East’s largest range of Shari’a compliant 

funds. The fund range was most recently 

expanded to include Sharia’ compliant 

GFH completes the 

Acquisition of Infrastructure 

Portfolio 

GFH Financial Group (GFH) has 

completed the acquisition of USD 

1.2bn infrastructure portfolio in Africa 

and Middle East. 

The acquisition comes as part of 

GFH’s new strategy funded by USD 

315mn capital increase taking GFH 

issued and paid up capital to US$975 

million. The portfolio acquired will make 

GFH one of the key Land Banks with 

more than 200 million square feet across 

Africa, GCC and India. 

Commenting Mr. Hisham Alrayes, 

CEO of GFH, said “We are pleased to 

complete this major acquisition in GFH 

history today and deliver one of the 

key milestones in our new strategy. 

The acquisition adds another main 

line of business to GFH, Infrastructure 

Indian equities, through the Emirates 

Islamic India Equity Fund, which is subadvised 

by UTI International. 

Al Hilal Takaful’s policies will be 

linked to three investment strategies, 

categorized as ‘Conservative’, ‘Balanced’ 

and ‘Growth’. The conservative strategy 

is a Sukuk-focused mandate, while the 

Balanced and Growth strategies will 

access global Sukuk, global and MENA 

equities and emerging markets. 

Emanuel Lantzos, Chief Executive 

Officer of Al Hilal Takaful, commented, 

“In Emirates NBD Asset Management, 

we now have access to the investment 

capabilities of one of the region’s best 

Shari’a compliant fund managers. Their 

fund range is among the broadest and 

best-performing in the industry. We are 

reassured by the experience and expertise 

of the Emirates NBD Asset Management 

team, and look forward to working 

closely with them for the benefit of our 

customers.” 

Salman Bajwa, Senior Executive 

Officer of Emirates NBD Asset 

Management said, “We are looking forward 

to working closely with Al Hilal Takaful 

to deliver consistent and positive returns, 

and I’m pleased to say that their low-risk 

mandate will be run by the same fixed 

income team that manages the awardwinning 

Emirates Global Sukuk Fund.” 

Hisham Alrayes 

CEO, GFH 

Investments, alongside Investment 

banking, Commercial Banking and Real 

Estate. We have been able to secure 

this great deal at a time where we have 

captured a great acquisition value 

for GFH shareholders. International 

and regional reputed developers have 

expressed their interest to partner with 

GFH in this portfolio; hence we foresee 

substantial returns to our shareholders 

in the medium to long term.” 

Bank ABC joins Global 

Financial Infrastructure 

Consortium R3 

Bahrain-based Bank ABC, has 

recently joined blockchain-inspired 

consortium headed by R3, a financial 

innovation firm, headquartered in New 

York City. The over 80-strong consortium 

of the world’s biggest financial 

institutions is spearheading research 

and development of blockchain-inspired 

distributed ledger technologies (DLT) to 

build the next generation of financial 

services infrastructure. 

DLT enables participating parties to 

form and maintain consensus about the 

existence, status and evolution of a set 

of shared facts on their stakeholders. 

These systems allow competing firms to 

collaborate to maintain secure, shared 

databases and reduce cost and execution 

time. DLT and blockchain technology has 

added a new dimension to the evolving 

FinTech landscape. 

Bank ABC’s Group Head of 

Information Technology, Stuart 

Rennie, added “access to the wealth 

of knowledge and resources available 

through the R3 consortium will 

strengthen Bank ABC to leverage our 

investment in technology and support 

the delivery of our digital strategy”. 

Bank ABC is a leading player in the 

region’s banking industry and provides 

innovative wholesale financial products 

and services that include corporate 

banking, financial and capital markets, 

trade finance, project and structured 

finance, syndications, treasury products 

and Islamic banking. It also provides 

retail banking services through its 

network of retail banks in Jordan, Egypt, 

Tunisia and Algeria. 


65

SICO appointed as 

authorized sponsor on BIM 

Bahrain Bourse (BHB) appoint 

Securities & Investment Company 

(SICO) as an Authorized Sponsor in 

Bahrain Investment Market (BIM), an 

innovative equity market for growth 

companies in Bahrain and the wider 

MENA region. 

In addition to access to capital, listed 

companies will benefit from specialized 

advisory services in multiple sectors and 

the implementation of globally accepted 

standards for financial auditing and 

reporting statements as mandated by the 

BIM. Authorized Sponsors play an integral 

advisory role to all new clients in ensuring 

all pre-listing requirements and postlisting 

documentation and disclosures are 

continuously met. 

Chief Executive Officer of Bahrain 

Bourse, Shaikh Khalifa bin Ebrahim 

Al Khalifa said, “Bahrain Investment 

Market which offers new and innovative 

financing options and solutions, will 

drive private sector growth and support 

the developments in Bahrain as well 

as the region to attract more foreign 

investments.” 

Chief Executive Officer of SICO, Mrs. 

Najla Al Shirawi said, “The appointment 

assures the efforts made by SICO to 

enhance the investment environment 

by facilitating investments in promising 

commercial projects in a way that 

supports the business sector in the 

Kingdom in general and the country’s 

position as leading financial center in the 

region.” 

It is relevant to note that in the last 

year Foreign Direct Investment in Bahrain 

doubled as the country secured a total 

of USD 281 million of foreign investment 

from 40 new companies. Bahrain Bourse 

has seen trading volumes increase by 

42% between 2015 and 2016, reflecting the 

visibility of such market. 

The increasing network of authorized 

sponsors that BIM is partnering with 

have significantly enhanced the options 

available for prospective companies 

interested in listing on Bahrain 

Investment Market. For the authorized 

sponsors (specialized advisory firms), the 

benefits include being associated and 

authorized by a licensed exchange, as well 

as access to dynamic companies. 

It is worth mentioning that Bahrain 

Investment Market (BIM), which was 

officially launched in March 2017 by 

the Bahrain Bourse, features relaxed 

admission requirements and reduced 

financial disclosure rules, access to global 

investors, guidance services through 

authorized sponsors (specialized advisory 

firms), and many other benefits. 

BBK introduces Interactive 

Teller Machine 

BBK, announced the launch of its first 

‘ITM’, Interactive Teller Machine, a 

video-based interactive technology which 

allows customers to conduct transactions 

and banking services with the help 

of a centrally based customer service 

representative, in a highly engaging and 

personalized real time two-way video/ 

audio interaction. 

The first BBK ITM in the Isa 

Town Financial Mall will enable BBK 

customers to perform many of the same 

transactions they would in a branch such 

as BBK cheque deposit and cashing, cash 

withdrawals of value amount greater 

than BD 700, cash deposits and transfers 

within BBK, BBK cheque deposit and 

cashing, in addition to bill payment, 

and various customer service requests 

such as debit card replacement request, 

updating a phone number or personal 

details. etc ). Another practical feature 

of the ITM is that customers do not need 

their Debit Card and PIN to conduct 

transactions, only an ID can suffice. 

Customers will be able to enjoy the 

convenience of live video chatting with 

one of the friendly representatives of the 

bank and do almost anything they can do 

when visiting a branch. 

This technology represents another 

step in BBK’s efforts to add value to its 

customers’ lives by providing them with 

a more convenient and efficient banking 

experience while respecting their busy 

lifestyle. 

BBK strives to maintain the 

leadership in adopting tech-savvy 

channels to deliver services to its 

customers and ensure a convenient 

and satisfying Banking experience. The 

new ITM terminal is able to provide 

a complete banking experience for 

customers who prefer the convenience 

and ease of advanced technology. 

With also the newly introduced ‘BBK 

Queue App’, a new virtual queuing 

system allowing customers to pre-book 

appointments to visit branches and 

the existing state-of-the-art e-Banking 

channels, customers are offered the 

choice of banking through their preferred 

channels at any time and place. 

NBB launches Mastercard 

Cash Back promotion 

N 

ational Bank of Bahrain (NBB) 

announced a special promotion 

giving NBB Mastercard credit and debit 

card holders a chance to win back cash 

prizes until 25th October 2017. 

For every BD 60 spent in Bahrain, 

NBB Mastercard credit card holders will 

automatically be enrolled in a draw and 

given one chance to win back the total 

amount of purchases they have made 

on their Mastercard over the duration of 

the promotion period, up to a maximum 

of USD $ 10,000. For international credit 

and debit card purchases, cardholders 

will have two chances to win for every 

BD 60 spent. 

At the end of the promotion period, 

10 lucky cardholders will be drawn 

through a raffle draw for total winnings 

of up to US$100,000. 



67

Highlights | Telecom 

Bahrain Achieves 

‘Maturity Stage’ in ITU Global 

Cyber Security Index 

Bahrain has recently achieved a 

mature stage of Cyber Security 

readiness as per the assessment of 

the International Telecommunications 

Union’s (ITU) recently published 

Global Cyber Security Index 2017. The 

index measured the cyber security 

commitment levels of all 193 ITU 

state members based on five key 

pillars ranging from legal, technical, 

organizational, to capacity building and 

cooperation. 

The Telecommunications Regulatory 

Authority has implemented several 

initiatives in order to address the 

gaps identified in the 2014 iteration 

of the index in order to elevate the 

telecommunications sector cyber 

security readiness, and to harmonize 

efforts between local and global best 

practices. 

According to the report, Bahrain 

has been listed in the ‘Maturing Stage’ 

category that includes Saudi Arabia, the 

United Arab Emirates, as well as 75 other 

countries that have developed complex 

commitments, and have actively 

engaged in implementing key cyber 

security programs and initiatives. 

TRA’s efforts have contributed 

significantly towards improving the 

cyber security ranking on all of the 

5 pillars, and the recently published 

Critical Telecommunications 

Infrastructure Risk Management 

regulation in particular has played a 

vital role in improving Bahrain’s ITU 

ranking in the Index. 

“The Telecommunications sector 

has taken positive strides in improving 

its cyber security posture since 2014, 

yet we do recognize that more needs 

to be done in order to realize a more 

secure cyber environment that would 

enable us to reap sustainable benefits 

from digital transformation,” says TRA’s 

Director of Cyber Security, Dr. Khalid bin 

Duaij Al Khalifa. “While the Authority 

remains committed towards bridging 

the gap with developed countries as per 

the report’s findings, the Authority is 

mindful that the global rank is merely 

indicative of the gaps that still exist 

and which can be positively improved 

through National Level Cyber Security 

Initiatives that would result in improved 

inter-sector cooperation and capacity 

building exercises,” he further added. 

The Authority further aims to 

continually implement initiatives 

to achieve further public-private 

collaborations to ensure that the sector 

is adequately prepared to counter the 

rising cyber threats to the availability 

and security of the telecommunication 

and digital services which are critical 

towards achieving a robust digital 

economy. 

Artificial Intelligence 

Framework a Game Changer 

for Telecom sector 

Nuance Communications, Inc. 

(NUAN), stated that the latest 

artificial intelligence (AI) framework 

could serve as a game changer for the 

Bahrain and GCC telecom industry. 

The Middle Eastern region is now 

witnessing an accelerating technology 

migration to higher speed networks and 

smartphones, facilitated by operator 

investments to extend network coverage. 

Telecom operators need to transform 

their revenue opportunity through data 

and voice services that are high quality, 

while managing capital allocation, 

and investing in new technologies and 

innovations. 

“By addressing customer needs in 

real time, innovative solutions will open 

new possibilities and increase value. 

Nuance Loop is specially designed to 

fit with the framework of Bahrain and 

GCC telecom operators as it engages 

mobile subscribers at virtually any touch 

point from voice to text to browser,” said 

Rajesh Razdan, VP and GM, APAC, CSP 

Business, Nuance. 

“It’s time for Bahrain and GCC 

operators to transform technology 

into intelligent solutions. We’ve 

been working globally with leading 

communications providers for over 20 

years, and these companies are showing 

considerable interest in the potential 

of AI. They are evaluating AI both at the 

front end, customer service part of the 

chain as well as considering how AI can 

help improve service delivery through 

better network performance,” added 

Rajesh. 

With a rapidly expanding population 

across the GCC and Africa region, 

including the fast youth and urban 

markets, the region is set to touch 

100 million subscribers by 2020. 

Furthermore, there is a massive 

explosion of social media platforms in 

the region, thus further contributing to 

the growth of the industry. 

Telecom companies in the Bahrain 

and GCC region are entering this 

new phase with access to millions of 

connected customers that can generate 

high cash flows. However, this growth 

can be further propelled and sustained 

when operators in the region will 

adopt and migrate towards the latest 

technologies, analytics and invest in 

businesses in separate ventures outside 

their core business. 

Nuance Loop is now available 

globally and is currently deployed 

across North America, Latin and Central 

America, India, Southeast Asia, EMEA, 

and Australia, generating hundreds of 

millions of dollars a year in incremental, 

high margin revenue for its customers. 


Mobile Data 

performance reaches 23 

Megabites per second 

T 

elecom’s Regulatory Authority’s (TRA) 

Broadband Quality of Service Report 

for the first half of 2017 notes a rise of 

LTE Mobile data performance across 

the sector from quarter one to quarter 

two 2017. Where average performance 

dropped to 16.6 Megabites per second 

(Mbps) in the first quarter, averages rose 

back to 23.4 Megabites per second in the 

second quarter of 2017. 

“We noticed an overall performance 

drop of nearly 26% between Quarter four 

of 2016 and the first quarter of this year 

and are glad to see that data performance 

has bounced back in the second quarter.” 

Says Sh. Ahmed Bin Isa bin Duaij Al 

Khalifa, TRA’s Manager of ICT “This 

report is published regularly to keep 

Viva Bahrain win Asia’s 

Best Employer Brand Award 

Viva Bahrain has been named Asia’s 

Best Employer Brand Award 2017 in 

Le Meridien, Singapore. The only Middle 

Eastern telecom company recognized at 

this level for its HR value proposition. 

This award and the previous awards 

for “GCC Best Employer Brand” Award 

2016 and “GCC Excellence in Talent 

Management” further qualifies Viva for 

the World HR Employer Brand Awards 

2018. 

The award praises Viva’s employee 

empowerment strategy that fosters 

aspirations, concerns and interests of 

its talent whilst providing opportunities 

for development of capabilities for its 

employees. It also comes to recognize 

Viva’s strong legacy of supporting the 

development of the local talent pool 

through multiple initiatives, events, 

trainings and programs. 

consumers informed of the most current 

performance conditions in their areas. 

Consumers can also expect that we are 

in the process of publishing an updated 

regulation on the quality of service to 

ensure users enjoy the best service 

possible.” 

The Broadband report includes 

several technical indicators for the 

use of wireless and wired broadband 

services that will provide consumers in 

residential consumers and businesses 

with information which can be used 

to determine which service provider is 

best suited to each consumer. All of the 

indicators have maintained similar high 

performance levels when compared to 

the first quarter. 

For instance, the average HTTP 

download speed for regular, fixedline 

residential packages performed 

at an average of 6.5 Mbps, remaining 

unchanged between Q1 and Q2 of 2017. 

High-Speed residential packages on 

the other hand have had varied results. 

8 Mbps packages rose to 13 Mbps on 

average in Q2, compared to 7.7 Mbps in Q1, 

while 25 Mbps packages slightly dropped 

to 22.3 Mbps on average compared to 

24.3 Mbps in Q1, and 100 Mbps packages 

dropped to an average of 88.2 Mbps in Q2, 

compared to 94.1 Mbps in Q1. 

Mohammed Al Khushail, chief human 

resource officer at Viva Bahrain said, 

“It’s a great honour to receive this award 

which will only strengthen our resolve to 

work with more dedication towards our 

HR value proposition. We will continue 

to focus on serving great employee value, 

investing in the right areas and creating 

the perfect nurturing and motivating 

workplace for talent.” 

The Asia Best Employer Brand 

Awards is organized by Employer 

Branding Institute and Stars of the 

Industry Group, and endorsed by Asian 

Confederation of Businesses. 

Batelco Partners with 

leading Gaming Content 

providers 

Eng. Muna Al Hashemi 

CEO, Batelco 

Batelco has entered into partnership 

agreements with two leading gaming 

content providers to enhance the gaming 

experience for its customers. The new 

partnerships with Valve Corporation’s 

Steam® and i3D.net provide direct 

peering with their highly reputed gaming 

platforms and Batelco’s network. Thanks 

to the new partnerships, Batelco is 

providing the best gaming experience in 

Bahrain with extremely low latency. 

Steam is recognised as the world’s 

largest online gaming platform giving 

access to more than 15,000 game titles 

and connecting over 35 million active 

users to each other and to Batelco. i3D. 

net, which has won numerous awards for 

its services, specialises in low latency 

hosting for the online video gaming 

industry. The i3D.net team of highlyskilled 

technical engineers provides 

online infrastructure services and 

managed hosting solutions to a wide 

range of international organisations 

including Batelco. 

Batelco Bahrain CEO Eng. Muna 

Al Hashemi said, “This latest move to 

provide direct peering with world-class 

gaming platforms ensures that Batelco 

is the number 1 gaming network in 

Bahrain,” she added. 

i3D.net CEO Stijn Koster adds, “i3D.net 

provides services to a variety of online 

video gaming publishers, aggregating 

a large number of games that can be 

played on our infrastructure. We are 

always working to bring content as close 

to the end user as technically possible 

and welcome the opportunity to partner 

with Batelco.” 


69

Viva Bahrain and 

Capital Club sign strategic 

partnership 

Viva Bahrain signed an agreement with 

Capital Club, Bahrain’s premier private 

city club as its exclusive telecom partner, 

offering latest connectivity solutions at 

their premises. 

Capital Club members will experience 

seamless, superfast connectivity and 

Viva’s business mobility services with the 

access to high-speed and advanced 4G+ 

LTE data network solutions. 

One of the club’s rooms will be 

powered by Viva to highlight its latest ICT 

solutions which will help organizations to 

increase their efficiency and productivity 

with latest connectivity solutions. 

This will be powered by the telecom 

operator through an exclusive series of 

key speaking opportunities, businessnetworking 

forums and other clubsponsored 

programs. 

The two years association was made 

official at a signing ceremony held at 

Capital Club, by Viva CEO Ulaiyan Al 

Wetaid and Capital Club Bahrain General 

Manager Sumeet Jhingan. 

Ulaiyan Al Wetaid said, “Technology 

in today’s time is very crucial to realize 

business productivity and success. 

Organizations are keen to accept 

technological solutions for enhanced 

business growth and engagement with 

their customers. Our recent alliance with 

the Capital Club will help boost technology 

business requirements of the corporate 

sector and most importantly members of 

the club, with greater connectivity to help 

them achieve higher levels of efficiency 

and effectiveness.” 

Sumeet Jhingan on signing the 

agreement said, “We are honoured to 

have collaborated with one of the largest 

telecommunications in the region offering 

the latest connectivity solutions for the 

Club’s elite members in Bahrain and KSA. 

We are confident that our relationship 

grows stronger over the period and we 

look forward to work with Viva for various 

other exciting projects regionally.” 

This partnership reiterates Viva’s 

strategic commitment towards 

empowering Bahrain’s business sector 

with an array of ICT-enabled enterprise 

products and services, while contributing 

towards sustainable growth of the local 

economy. 

Zain’s efforts in 

developing a Youth-focused 

Entrepreneurial Environment 

Zain Group, announces the publication 

of its sixth annual sustainability 

report, entitled ‘Innovate for a Sustainable 

Future’. The release of this latest report, 

which is aligned with the United Nations 

Guiding Principles (UNGP) and adheres 

to the G4 reporting guidelines set by 

the Global Reporting Initiative (GRI), 

reinforces Zain Group’s position as one of 

the most consistently transparent mobile 

operators in the MENA region given the 

depth of information it openly shares. 

Zain’s 2016 report details the 

company’s sustainability agenda, 

highlighting key partnerships and 

commitments with global entities such as 

the United Nations High Commissioners 

for Refugees (UNHCR), The Whitaker 

Peace Development Initiative, Child 

Helpline International (CHI), REFUNITE 

and Facebook. Additionally, the document 

communicates Zain’s triple bottom line 

approach (social, environmental and 

economic) to all stakeholders. 

Available exclusively online through 

an interactive interface that is userfriendly, 

and which also minimizes 

the company’s environmental impact, 

this year’s publication has a key new 

development. The report includes a 

section demonstrating the company’s 

ongoing commitment to align its policies 

and activities with the United Nations’ 

Sustainable Development Goals (SDGs), 

highlighting launched and established 

initiatives across all operating companies 

that address the goals. 

Zain’s commitment to sustainability 

is reflected in the long list of activities 

and initiatives the company runs in any 

given year, many of which are highlighted 

within the latest report. All operating 

companies continue to drive the 

sustainability agenda through activities 

such as the introduction of Zain Cash in 

Iraq and re-launch in Jordan. 

Addressing a major deficit of ‘skills 

mismatch’ in the region, Zain continued 

in its efforts to narrow the gap with 

Zain Bahrain holding a ‘Youth City ICT 

Jobs’ workshop to educate youth about 

job potential in the ICT sector that was 

attended by 80 high school students. 

Similarly, based on a Silicon Valley 

curriculum, Zain Jordan undertook 

‘ReBoot Kamp’, a 16-week program 

designed to produce high quality 

software engineers that saw 17 students 

graduated from this course in 2016, 

with two students being refugees and 

all participants attaining quality jobs 

thereafter. 

Focusing on developing its 

7,000-talented workforce, Zain provided 

more than 115,000 hours of training to 

its employees across operations with 

an average of 20 hours of training per 

employee during 2016. 

During 2016, Zain also continued 

to focus on further developing the 

entrepreneurial and youth-focused 

ecosystem through initiatives such as 

its participation in the MIT Enterprise 

Forum (MITEF) Startup Competition, a 

regional startup competition that offers 

participants seed money, training, media 

exposure, and networking opportunities. 

A record 6,000 teams (representing 

over 12,000 individuals) submitted to 

the competition. Additionally, Zain 

partnered the MITEF ‘Innovate for 

Refugees’ competition that invited 

entrepreneurs and refugees from around 

the world to come up with tech-driven, 

innovative solutions to help address 

the global refugee crisis. The initiative 

attracted over 1,600 applications from 

across the globe. 



Highlights | Real Estate 

US$10bn Investment in 

Hospitality for Bahrain 

The kingdom of Bahrain has announced 

that it is set to receive 15 new hotels 

and beachfront resorts by 2020. 

The development will have a collective 

investment of over $10 billion and will put 

Bahrain firmly on the map as a desirable 

and competitive holiday destination. 

These new arrivals include worldrenowned 

hotel brands such as One&Only, 

Wyndham, Fairmont, Vida, The Address, 

Ibis and Pullman, each set to make their 

entry over the next three years. 

The new hotels will make valuable 

additions to Bahrain’s existing portfolio of 

Amwaj Gateway 

Development project set for 

public auction 

Amwaj Gateway development project 

will be auctioned publicly, Bahrain’s 

Judicial Committee for the Settlement of 

Stalled Real Estate Projects announced. 

The committee said that the decision 

to auction the project came after 

extensive consultation with developers 

and stakeholders after exhausting all 

possibilities for a cordial settlement. This 

follows the Committee’s previous success 

finding sustainable solutions for real 

estate projects in Bahrain, including most 

recently the Juffair Views project. 

Global real estate consultant Cluttons, 

and Mazad B.S.C. (c), the Bahrain-based 

public auction specialist, have been 

appointed to organise and manage the 

public auction. 

Harry Goodson-Wickes, head of 

Cluttons Bahrain, said, “We anticipate 

a lot of interest in the Amwaj Gateway 

Project once it is ready for auction later 

this year due to the potential of the 

development and its location. We believe 

that auctioning the project is the right 

move and we have already seen that it is 

over 190 hotels and resorts. This includes 

18 fantastic five-star hotels, 48 four-star 

hotels, 35 three-star hotels, 81 serviced 

apartments and 11 resorts. 

These hotels currently offer a capacity 

of more than 16,500 rooms for visitors to 

the Gulf’s only island nation. 

Commenting on the developments in 

Bahrain’s tourism and hospitality sectors, 

Khalid Al Rumaihi, chief executive at EDB, 

said, “These future investments in the 

hospitality sector will bring several new 

international hotel chains to the kingdom 

and raise the profile of existing ones. 

“They are expected to increase hotel 

capacity in the country by around 4,000 

hotel rooms, by 2020, as well as fill the 

gaps in the market, especially in the midmarket 

and luxury sector. 

“These new developments will both 

help to meet rising demand and attract 

new visitors to the Kingdom. Bahrain 

showed strong growth in tourist numbers 

in 2016, witnessing a six per cent increase 

in the number of tourist arrivals, receiving 

12.2 million.” 

an effective method of selling real estate, 

based on previous auctions in Bahrain 

and in other countries across the region, 

including Saudi Arabia and the United 

Arab Emirates.” 

Talal Aref AlAraifi, CEO of Mazad 

B.S.C. said, “Auctioning is an important 

step for Bahrain to boost investor 

confidence in the real estate sector. The 

auction is also a great opportunity for 

Mazad B.S.C. (c) to expand its activity 

towards real estate auctions and to 

showcase how transparency and fairness 

are central to the company’s business 

philosophy.” 

The Amwaj Gateway development 

covers an area of 33,391 sq m and will 

have a total built-up area of around 

190,000 sq m once completed. The 

project consists of 20-storey twin-towers 

complex with 384 apartments, another 

two-storey building comprising 93 

townhouse and a 143-room hotel tower. 

Bahrain Marina 

Announces Progress of 

Marine Works 

Bahrain Marina Development 

Company, a wholly-owned subsidiary 

of the Social Insurance Organization 

(SIO), announced that the progress of the 

‘Marine Works’ phase of the project is in 

accordance to the proposed timeline set. 

The ‘Marine Works’ stage was the 

first stage of the project and included all 

the enabling and marine-related works, 

including silt removal, earthworks, 

shore protection, quay walls and 

culvert crossings in preparation for the 

construction stage of the project. 

Aiming for Phase I completion by 

2020; the planned development stretches 

along a pristine coastline in Manama 

and will comprise of state-of-the-art 

residential, entertainment, leisure and 

marina facilities. 

“During the Marine Works phase 

of the project, we were adamant about 

protecting the marine life in order to 

ensure long-term sustainability. Our 

marine protection strategy was developed 

in cooperation with the Supreme Council 

for Environment,” said the Chairman of 

Bahrain Marina Development Company 

Mr. Abdulrahman Yusuf Bin Yusuf 

Fakhro. 

‘Bahrain Marina’, dubbed as an iconic 

world-class facility, stretches along a 

pristine coastline in the heart of Manama 

and will be positioned as the Kingdom’s 

prime lifestyle and leisure destination. 

Aiming for Phase I completion by 2020; 

the mix-use development will include 

a five-star lifestyle hotel, serviced and 

freehold apartments, waterfront villas 

along with a shopping mall, fullyintegrated 

family entertainment centre 

and a recreational waterfront space with 

dining and retail spaces. A yacht club will 

be built covering an impressive area with 

the capacity of berthing a vast number of 

boats of different sizes. 


Muharraq Grand Park 

work to start in Q1 of 2018 

Ministry of Works, Municipalities 

Affairs and Urban Planning is 

going to start work on the Muharraq 

Grand Park in the first quarter of next 

year 2018, it was revealed. 

The development project has been 

included in the 2017-2018 fiscal year, said 

the ministry. 

Al Bareh Infrastructure 

Work on Target 

Diyar Al Muharraq announced 

that the secondary infrastructure 

work for the southern 50% of Al Bareh 

commenced in August 2017, with an 

expected completion timeframe of 12 

months. 

Al Bareh is composed of 3 main 

products which include, Sea Front 

Residential Plots dedicated to 

encompassing high-end villas that 

are easily accessible both by sea 

and by road, Residential Plots within 

walking distance to waterfront parks 

appropriately positioned in the heart of 

Al Bareh, and Residential Investment 

Plots overlooking the main road 

designated for the construction of multistorey 

buildings. The Al Bareh plots are 

being offered for sale on a Freehold basis 

to all nationalities. 

With Phase 1 of the Project being 

constructed at a total cost of BD 4.30 

million, the Company further stated that 

the commencement of its secondary 

infrastructure work will be ahead of the 

infrastructure commitment date for the 

plot owners, which is in the last quarter 

of 2018. Phase 2 of the Project is set to be 

initiated upon completion of Phase 1. 

Dr. Maher Al Shaer, Chief Executive 

Officer of Diyar Al Muharraq said, “Al 

Bareh’s complete residential portfolio 

encompasses plots that can be 

In a statement the ministry said that 

the project will be carried out in two 

phases following the court ruling which 

ordered the previous investor to vacate 

the site, it said. 

Bids will be invited for the 

construction of the fence, work for 

which will likely start during the last 

quarter of this year. 

The ministry is now drawing 

up the engineering designs for the 

infrastructure work to start early next 

year, it said. 

The Muharraq Grand Park will cover 

the area more than 9 hectares near the 

Bahrain International Airport. 

It reiterated keenness on developing 

public gardens and parks and equip 

them with latest facilities to become 

ideal venues for family entertainment. 

purchased for the purpose of developing 

high end luxury products such as villas 

and residential buildings, catering to 

both investors and potential residents. 

Therefore, to get to this milestone in 

the construction timeline of one of our 

most illustrious and varied residential 

offerings makes this truly a momentous 

occasion.” 

Situated in a prime location in 

the west side of Diyar Al Muharraq, 

Al Bareh is a seafront development 

that wholly embraces the elements of 

nature in a seamless blend. In order to 

comprehensively imbue into Al Bareh a 

sense of serenity and harmony, myriad 

parklands and adequate greenery will be 

incorporated and spread throughout the 

project. 

The Seafront Residential Plots 

are situated at a prime location 

within Al Bareh and are dedicated to 

encompassing high-end villas range 

from 800 to 970 sqm and they are set 

to offer seafront living enthusiasts 

the perfect opportunity to immerse 

themselves in their element. 

Marassi Shores 

Residences offers 

Spectacular Views 

Eagle Hills Bahrain, developer of 

the distinguished urban project 

Marassi Al Bahrain, broke ground 

on its second residential component 

within the project; Marassi Shores 

Residences, which has seen strong sales 

in the off-plan development phase. The 

construction of the major construction 

was awarded to Dadabhai Construction, 

a first-grade building contractor and part 

of the Dadabhai Group. 

Marassi Shores Residences, a limited 

collection of seafront apartments, 

will be directly situated on Marassi Al 

Bahrain’s main 2 km long beachfront 

promenade, a two-minute walk to the 

world-class hotels; The Address Marassi 

Al Bahrain and Vida Marassi Al Bahrain, 

as well as the landmark shopping and 

entertainment destination; Marassi 

Galleria. The U-shaped property offers 

convenient access to extensive retail, 

restaurant and café options, and has 

its own central leisure complex with 

superior amenities, which will make it 

a sought-after address in the Kingdom. 

The building features a collection of 289 

elegantly designed and spacious studio, 

one, two and three-bedroom apartments, 

along with penthouses, staggered across 

11 storeys. The residents of Marassi 

Shores Residences will enjoy exclusive 

amenities including a gym, swimming 

pools and a children’s play area. The 

stylish new residential destination will 

also be defined by high quality finishes, 

in addition to large balconies and 

terraces with spectacular sea and lush 

green park views. 

Rivaling some of the world’s most 

exclusive waterfront destinations, 

Marassi Shores Residences overlooks 

Marassi Galleria, a 200,000 sqm high-end 

lifestyle and shopping destination. 


73

Real Search 

becomes Biggest Property 

Management Company 

AbdulRahman Al Kooheji 

General Manager, Real Search 

Real Search, a property management 

services company and a subsidiary 

of Bin Faqeeh Real Estate Investment 

Company, has exceeded expectations to 

become the biggest property management 

company in Bahrain. 

Since its launch in 2016, Real Search 

exceeded its original business plan in less 

than a year and achieved a milestone of 

1700 units under management in Bahrain. 

A well- experienced team in the real 

estate sector is supporting the company 

to provide various services including 

property management, renting, marketing 

and resale. 

On this occasion, Mr. AbdulRahman Al 

Kooheji, General Manager of Real Search 

Seef Terraces receive 

Top Awards 

Seef Terraces, a development 

by Bahraini real estate pioneer 

Dadabhai Properties, has won 

international acclaim at the Africa & 

Arabia Property Awards. 

The family-focussed residential 

project has been chosen the winner 

of two awards-the Best High-Rise 

Residential Development and Best 

Residential Development Individual 

Units. 

Commenting on the twin honours, 

Dadabhai Properties Managing Director 

Shabeer Dadabhai said, “The awards are 

a testament to the luxury, convenience 

and comfort offering of the project with 

a core focus on family-centric lifestyle 

apartments. 

Seef Terraces features 173 

apartments of varying sizes, available 

said, "This company aims to provide 

integrated property management and 

after-sale services to Bin Faqeeh's clients 

that meet their needs and bring them 

peace of mind". 

"We are very pleased to see the 

company's significant growth over the 

past months, which demonstrates its great 

potential and the good reputation it has 

earned to become the preferred choice for 

property management. At the moment, the 

company is putting more effort to double 

the size of its portfolio of properties under 

management in the near future". 

"Real Search is committed to build 

an exceptional future for the real estate 

market in Bahrain by providing integrated 

services that support Bin Faqeeh's 

leading role in this sector. It also aims to 

establish a strong presence as a reputable 

and reliable company by establishing 

long term relationships with various 

companies and individuals to become the 

ideal destination for real estate solutions 

in the Kingdom". 

Real Search is currently managing 

many units in several distinct areas 

in Bahrain such as Seef District, Reef 

Island, Diyar Al Muharraq, Busaiteen, 

Juffair, and Hamala. The company 

offers various property management 

services such as property valuation, 

marketing, maintenance, legal services, 

leasing and resale. 

on a freehold basis in a 29-storey tower. 

Facilities include tennis, squash 

and indoor basketball courts, billiards, 

table tennis, jogging track, outdoor 

landscaped play area, gymnasia, steam, 

sauna and Jacuzzi, an infinity pool, 

outdoor Jacuzzi and BBQ area on the 

rooftop, cinema, covered car park bays, 

CCTV and 24x7 security among others. 

Work started in May last year and 

is expected to finish by the end of 

December this year. 

Arab Architects 

receive a significant 

Architecture Award 

Arab Architects was honored at 

the International Africa & Arabia 

Property Awards for designing their 

project Al-Tijaria Tower in Bahrain 

developed by The Commercial Real 

Estate Development Company. Arab 

Architects participated along numerous 

prominent architectural design 

professionals across Africa and the 

Middle East to be distinguished in 

the residential high-rise architecture 

category. This is the second time in a 

row in which Arab Architects takes part 

on an international stage and their third 

momentous award at the International 

Africa & Arabia Property Awards. 

The renowned architectural and 

engineering consultancy company is 

well attributed and admired in Bahrain 

for its dedication of delivering quality 

performance and timely work. Since its 

launch, Arab Architects has successfully 

completed sizable projects of 250 million 

Bahraini Dinars and continue to deliver 

remarkable services to their clientele. 

Their most recent project, Al-Tijraria 

Tower, a residential tower situated in the 

heart of Manama. The tower consists 

of 46 floors, to be marked as one of the 

highest towers in Bahrain. The tower’s 

slightly curved shape is designed to 

maximize the sea view from all units. 

Mr. Mazen Araiqat, the Managing 

Director of Arab Architects said, “It is 

an achievement for Arab Architects 

to receive multiple design awards in 

Africa & Arabia Property Awards for two 

years in a row. These awards signify 

Arab Architects’ contribution to the 

development of the Kingdom of Bahrain 

and its skyline, and the importance of 

giving the best service.” 



75

Highlights | Technology 

Samsung Galaxy Note8 

launch in Bahrain 

The next level Galaxy Note8 with 

6.3-inch Quad HD+ Super AMOLED 

Infinity Display empowers consumers 

with a bigger Infinity Display that fits 

comfortably in one hand and allows you 

to see more and scroll less. 

The enhanced S Pen unlocks entirely 

new ways to write, draw, and interact 

with the phone and communicate with 

friends. For overseas travels or when 

you come across a website in a foreign 

language, the improved S Pen Translate 

feature lets you hover over text to quickly 

translate, and instantly convert units and 

foreign currencies. 

It has two 12MP rear cameras with 

Optical Image Stabilization (OIS) on both, 

the wide-angle and telephoto lenses. For 

more advanced photo-taking, Live Focus 

feature allow you to adjust the bokeh 

Apple unveils iPhone 8 

The iPhone 8 and larger iPhone 8 Plus 

are incremental updates to iPhone 7 

and introduce a glass frame to allow for 

inductive charging and better camera 

technology. 

The iPhone 8 and 8 Plus are Apple’s 

first glass phones and retains the 

familiar 4.7 and 5.5inch displays. For 

the first time on iPhone, the 8 and 8 

Plus have the True Tone displays from 

the iPad Pro. It’s all powered by the A11 

Bionic CPU, a six-core processor that 

is supposedly 25% faster than the A10 

found in the iPhone 7. 

In terms of camera specs, the iPhone 

8 features a 12-megapixel primary 

camera, while the iPhone 8 Plus features 

a more impressive dual-lens setup that 

pairs a 12-megapixel rear ƒ/1.8 lens with 

a telephoto ƒ/2.8 lens. 

effect in preview mode and after you take 

the photo. The wide-angle lens has a 

Dual Pixel sensor with rapid Auto Focus, 

so you can capture sharper, clearer shots 

even in low-light environments. It also 

has 8MP Smart Auto Focus front-facing 

camera for sharp selfies and video chats. 

Samsung DeX enables a desktop 

experience, powered by your phone. 

You can keep your files on your device, 

conduct work on the go, and use 

Samsung DeX when you need an even 

bigger screen. The Galaxy Note8 includes 

Bixby, a smarter way to use your phone; it 

learns from you, improves over time, and 

helps you get more done. 

In addition to its incredible features, 

the new Galaxy Note8 also enables 

users through “Samsung Members” - a 

preloaded app offering experiences 

linked to Gulf consumers’ passion points, 

through a new partnership with Marriott 

International Middle East & Africa and 

Cleartrip. Consumers who purchase the 

Galaxy Note8 in the UAE, Qatar, Oman, 

Kuwait and Bahrain will enjoy exclusive 

“Samsung Members” offers from Marriott 

hotel, restaurants and spas and Cleartrip. 

The Galaxy Note8 available across 

all major retailers in Bahrain starting 

22nd September 2017 at BHD 355 in three 

distinct colors; Midnight Black, Orchid 

Gray and Maple Gold. 

The iPhone 8 and 8 Plus support 

wireless charging, hence the glass 

casing. The handsets use the Qi 

standard. 

Both iPhone 8 models are capable 

of running software developed using 

ARKit, and the iPhone 8 will handle 

motion tracking to aid with this 

relatively new foray into the world of 

augmented reality (AR). 

Other changes include updates to 

the the camera and photos, a redesigned 

control centre, and modifications to 

Maps, Apple Music, and the App Store. 

Nokia 8 Android 

Smartphone 

Nokia 8, a high performance, 

beautifully crafted smartphone, 

designed with content creators in mind. 

The Nokia 8 brings three world-firsts to 

Android smartphones, including debut 

collaboration with ZEISS optics. With 

performance and pure Android at its 

heart, as well as the most advanced 

aluminium unibody design to date, the 

Nokia 8 represents all the hallmarks of a 

true flagship Nokia smartphone. 

One of Nokia main feature is its 

powerful Zeiss lens Cameras with 

impressive dual front & back 13 MP 

cameras, for all your social media, 

Instagram and snapshot photo shoots. 

An interesting camera feature of 

Nokia 8 is Bothie mode, which allows 

you to take pictures or record video with 

front and rear cameras at the same time. 

Nokia 8 is also the first smartphone 

to feature Nokia OZO Audio, spatial 360° 

audio brings a fully immersive audio 

experience to your 4K video. 

Nokia 8, pure Android combined with 

our innovative engineering processes 

unleashes the full potential of the 

SnapdragonTM 835 Mobile Platform. 

With monthly security updates, the 

Nokia 8 is safe and up-to-date. Your 

device is secured with biometric 

fingerprint authentication, delivering 

enhanced security and making Nokia 

8 a versatile companion whatever your 

needs. 

HMD global releases its first flagship 

phone The Nokia 8. It’s a comeback for 

the giant Nokia brand name into the 

market with a promise that it has many 

new features and best value for your 

money. 

The price of this Nokia Android 

master piece smart phone will start from 

BHD 180. 


LG Q6 with Full Vision 

experience 

LG newest smartphone featuring 

the exclusive FullVision display, 

designed to meet the needs and expectations 

of sharp millennial customers, 

is part of the company’s latest line 

of powerful, mid-range smartphones 

boasting the essential features of LG 

premium phones at exceptional price 

points. 

As the first in the Q series to be 

announced, the LG Q6 features some 

of the most desired innovations from 

LG’s premium G6 smartphone and 

packages them in a sleek, stunning body 

highlighted by its FullVision display 

with minimized bezels. The Q6 family 

consists of the Q6+ and Q6. The Q6+ 

comes with 4GB of RAM and 64GB of 

ROM, the base Q6 delivers 3GB of RAM 

and 32GB of storage. 

The Q6’s standout feature is its 

5.5-inch FHD+ Full Vision display. Not 

only does this unique display offer 

maximum screen space, it also allows 

for easy multitasking as the screen can 

be divided into two perfectly square 

windows, viewable either vertically 

or horizontally. Square Camera Mode 

enables the merger of two images into 

one and the creation of square grid 

collages - popular with social media fans. 

Durability is another of this 

smartphone’s key features. Its metal 

frame is constructed of 7000 series aluminum 

- a strong alloy commonly used 

in the aerospace and marine industries 

- with rounded corners to dissipate 

impact energy when dropped. Designed 

with MIL-STD 810G in mind, which tests 

and measures devices for their reaction 

to temperature extremes, rain, humidity, 

sand and dust to determine their 

suitability for use by the United States 

military. Thermal pad cooling system is 

incorporated into the interior and key 

components are designed far from one 

another to minimize internal heating. 

Lenovo new Smart devices 

Lenovo announced five new smart 

devices that unlock the power and 

potential of intelligent technology 

today - using artificial intelligence (AI), 

unleashing smart features and deploying 

augmented (AR) and virtual reality 

(VR). With their affordable prices, these 

devices make transformative technology 

accessible to mainstream consumers and 

challenge the conventions of traditional 

category boundaries. 

Lenovo Mirage AR headset 

Sleek, portable and lightweight, the 

Lenovo Mirage AR headset will provide full 

gaming immersion with an optimal level 

of comfort during gameplay. The headset 

also comes with a Tracking Beacon, which 

is placed on the floor and acts as a stable 

base for the headset’s sensors to detect the 

user’s movement during gameplay. The 

headset pairs with a collectible-quality 

Lightsaber controller modeled after the 

one wielded by Anakin Skywalker, Luke 

Skywalker and Rey. Designed to be a key 

part of the experience, the Lightsaber 

acts as a controller and pointer, allowing 

players to navigate the user interface, 

with all controls, actions and commands 

activated with a simple two-button 

configuration. 

Explorer Mixed Reality headset 

Together with Microsoft, building a 

different type of VR world with the Lenovo 

Explorer Mixed Reality headset with more 

than 100 VR-ready titles. Lenovo Explorer 

as a natural, affordable extension of 

your PC: You can access Microsoft Office 

suite, browse online or watch shows in 

a virtual home office environment, play 

virtual reality (VR) games, explore and 

discover through holo-tours, and enhance 

the video-watching experience via 3D, 

360-degree and 4K videos. Set it up in just 

minutes by connecting a cable to your PC. 

Moto X smartphone 

Time to say ‘hello moto X’ once 

again. The fourth generation moto X 

has a smarter camera that goes beyond 

capturing photos. The Landmark 

Detection feature makes the moto X4 

camera your eye to the world - just point 

the lens at an object, and it will ask if you 

want to learn about what you’re seeing. Or, 

spice up your selfies with the Augmented 

Reality (AR) feature, which lets you add 

a layer of animations to your photos or 

videos. The newest moto X4 is also the 

first of Motorola’s smartphones to feature 

Amazon Alexa, giving you more options 

when choosing a mobile digital assistant3. 

Tab 4 Home Assistant and Yoga 920 

The family-focused Tab 4 Series just 

got even more versatile thanks to the 

Alexa-powered Home Assistant Pack. 

Use your voice to get news, the weather 

or your calendar, and see it all on the Tab 

4’s display. Do even more with just your 

voice, using it to shop online, listen to a 

song or control your smart home. You 

can find what you’re searching for using 

the tablet’s on-screen display cards on its 

10-inch or 8-inch screen. All you need to 

do is ask. 

The Home Assistant Pack equips the 

Tab 4 with the “Home Assistant” app, a 

powerful three-watt speaker and far-field 

voice detection with two mics so you can 

talk to search and hear your results from 

up to three meters from any direction. To 

experience this level of personalization, 

insert your Tab 4 into the Home Assistant 

Pack, watch your screen switch to the 

Home Assistant Interface, and you’re 

ready to go. 


77

Gemalto enables Biometric 

Passports 

Gemalto, the world leader in digital 

security, announces that its advanced 

epassport technologies are now being 

used in over 30 different countries. 

Gemalto’s leading position has 

been built on the supply of complete 

travel documents and key components 

such as polycarbonate data pages, 

visible and hidden document security 

features, electronic passport covers and 

ICAO-compliant embedded software. In 

addition, the company’s secure embedded 

software has consistently outperformed 

the competition in international tests 

on speed over the last decade. Gemalto 

is also making an active contribution to 

the definition of international ePassport 

standards. 

Introduced in 2005, the ePassport - 

which now represents 57% of passports 

in circulation - delivers enhanced fraud 

WhatsApp Colourful 

Status Update 

After testing it in beta for a while, 

WhatsApp has finally introduced 

coloured text statuses to its Android 

and iPhone apps. This feature was first 

introduced by Facebook late last year 

on its Android app first, allowing its 

users to write their status update with 

a colourful background, font, and emoji 

combination. WhatsApp has confirmed 

that the coloured text feature is rolling 

protection by incorporating a secure 

microprocessor that stores the holder’s 

personal data and digital photo. Electronic 

passports include a standardized 

electronic portrait of the holder for facial 

recognition, which opens the door to a 

comprehensive range of automated, selfservice 

airport services for passengers. 

This extends from check-in through 

to immigration control and boarding, 

resulting in an enhanced experience on 

arrival and departure. 

The future ePassport 

A new generation of ePassport will 

digitally store travel information such as 

out to all users on Android and iPhone 

in an emailed statement to Gadgets 360. 

However, not all users are seeing this 

feature go live even after updating to the 

latest update. WABetaInfo reports that 

on iOS and Android, it has been remotely 

activated, and full-fledged rollout is 

awaited. 

How does WhatsApp coloured text status 

work? 

While some users may see the feature, 

others will see it pop up soon. For iPhone 

users, the pen icon now shows up next 

to the camera icon in the new Status 

bar. Clicking on the pen icon brings up 

the option to type a status, choose a font, 

emoji, and the background colour as well. 

When you’re done writing the status and 

making the necessary changes, you can 

then hit the green arrow key to send 

the text status, just like how you send 

eVisas and entry/exit stamps to support 

even more efficient immigration control. 

The key trends in travel documentation 

identified by Gemalto include: 

• Swift migration to tamper-proof 

polycarbonate data pages, which 

dramatically reduce the risk of 

fraud. 

• Rapid growth in secure digital 

identity credentials. Sensitive 

ePassport data is stored on the 

holder’s smartphone to create a 

secure companion to the physical 

passport, making life easier for 

travelers. 

• Smart borders/smart airports to 

emerge at a faster pace. Combined 

with the hundreds of millions of 

ePassports now in circulation and 

a strong push behind biometrics 

(particularly facial recognition), 

they offer travelers quick and 

secure cross-border movement. 

media content now. The status will then 

be published on WhatsApp for all your 

contacts to see. For Android users, the 

floating pen icon shows up at the bottom 

of the Status tab, above the camera icon. 

The tipster also confirms that 

WhatsApp for Windows Phone does not 

support this feature, and on the Web, you 

can only view these text statuses for now, 

and not create them. 

Furthermore, the tipster claims that 

the iPhone app will now support more 

stickers, and bring an improved chat 

search feature as well. The stickers are 

disabled for now, but will be switched 

on in future releases. Lastly, WhatsApp 

v2.17.50 for iPhone also brings the ability 

to bold, italicise, and strikethrough text 

from the typing bar itself. Just tap and 

hold the word you want to format, and 

select the option from the floating options 

that appear. 

Facebook 360 Degree photo 

Making 360-degree photos more of a 

common experience, Facebook has 

rolled out an update letting users capture 

360-degree photos using its in-app 

camera. 

The update has been rolled out in both 

iOS and Android and includes the abilities 

to zoom and tag friends. 

According to a TechCrunch report on 

Wednesday, these 360-degree images or 

those from any other sources can be used 

as “Cover Photos”. 

All that users need to do to take a 

360-degree photos is open the Facebook 

app and click the “360 Photo” option from 

the top of the News Feed. 

After pressing the option, they need 

to follow the path from start to finish until 

they have taken a complete panorama. 

Users also have an option to select their 

preferred “starting view” within the photo. 

“Capturing 360-degree using the 

Facebook camera is designed to be as easy 

as possible, too, with Facebook employing 

computer vision to automatically stitch 

the photo after you rotate your phone to 

capture it panorama-style,” the report 

added. 



79

Highlights | Automotive 

2018 BMW M5 saloon, the 

most fastest and powerful yet 

The 2018 BMW M5 saloon, billed as the 

fastest and most powerful M5 ever. 

It comes equipped with an enhanced V8 

engine, a new all-wheel drive system 

known as M xDrive and performance that 

surpass all previous incarnations. 

Power comes from the latest 4.4-litre 

V8 engine with BMW M TwinPower 

Turbo technology. It delivers a maximum 

torque of 750Nm, accelerating the new M5 

from zero to 62 mph in just 3.4 seconds, 

making it the fastest M5 yet. Power is 

transferred to the road via a new eightspeed 

M Steptronic transmission with 

Drivelogic. The engine characteristics 

can be changed by pushing the Drive 

Performance from the basic setting 

‘Efficient’ to ‘Sport’ and ‘Sport Plus’. An M 

Sound Control button allows the driver to 

reduce noise levels at the push of a button. 

The front design serves to link the 

oncoming air in the most aerodynamic 

fashion while at the same time providing 

the breathing and cooling requirements 

for a 600 hp engine and its braking 

system, the front wings are aluminium for 

2017 Land Rover 

Vehicles at LRE 

Euro Motors, the exclusive importer 

and distributor for luxury automotive 

manufacturer Jaguar Land Rover in the 

Kingdom of Bahrain, announced the 

renewal of the fleet of Land Rover vehicles 

currently available at the Land Rover 

Experience Centre Bahrain (LRE) located 

at the Bahrain International Circuit (BIC). 

Land Rover’s all new 2017 line-up 

of vehicles will now be available for 

customers, to offer them the opportunity 

of experiencing the awe-inspiring 

capabilities of the latest iterations of the 

best SUVs in the world. The new Land 

Rover fleet includes one Range Rover 

Sport, one Range Rover Evoque, one Land 

weight reduction. The bonnet is also made 

of aluminium, while the roof consists 

of a very light and stable carbon fibre 

reinforced plastic (CFRP). The rear diffuser 

was also redesigned, while the M-specific 

rear apron and the M rear spoiler, coupled 

to purposeful sill panels, all enhance the 

sporty and powerful appearance of the M5. 

Brake pads have been developed 

using a special compound, characterised 

by significantly lower weight compared 

to conventional cast iron brakes. At the 

front and rear, perforated and internally 

ventilated brake discs are mounted within 

blue-painted six-piston calipers with a 

distinctive M logo designation. 

The interior focuses entirely on the 

driver but at the same time offers space 

for up to four passengers. Almost all of the 

dynamics systems can be configured via 

the central touchscreen display. 

Rover Discovery Sport and four All-New 

Discovery vehicles. 

Located in the heart of the Sakhir 

desert within the grounds of BIC, the Land 

Rover Experience Centre Bahrain covers 

3.5 kilometres of varying terrains such 

as sand, rock, hill and water landscapes. 

There are 33 natural and man-made 

obstacles allowing guests to traverse 

terrain including slide slopes, humps, 

rocks, gravel roads and watercourses, 

all the while assessing the driving 

environment, maximising the capability 

and technology of the vehicle and most 

importantly developing driving skills in 

the world’s most capable luxury vehicles. 

The LRE is open to customers, Land Rover 

loyalists and off-roading enthusiasts every 

day of the week, including weekends, from 

8 am to 5 pm. 

Visitors have the chance to choose 

between two experiences: the first is 

as a passenger in a Land Rover vehicle, 

while one of Land Rover’s lead instructors 

drives the course, with the second 

being an opportunity to get behind the 

wheel, guided by a qualified Land Rover 

Experience instructor. 

Mercedes-AMG GT R 

Mercedes-AMG continues to grow 

its product range with the launch 

of the new AMG GT R. This road-going 

sports car with motor-racing genes and 

innovative technical solutions offers an 

ultimate driving experience that allows 

people to feel motorsport origins in every 

fibre. It combines the driving dynamics 

of AMG GT3 racing car with the everyday 

practicality of the AMG GT. 

The front-mid-engine concept 

with transaxle, the twin-turbo V-8 

engine rated at 430 kW/585 hp, the 

extensively modified suspension, the 

new aerodynamics and the intelligent 

lightweight construction lay the 

foundations for an especially dynamic 

driving experience. Wider front and rear 

wings allow an increased track width 

for ideal grip and even higher cornering 

speeds. The new front fascia with active 

elements, the large rear aerofoil and the 

new rear fascia with double diffuser 

enhance aerodynamic efficiency and help 

ensure optimum grip. The lightweight 

forged wheels shod with cup tyres as 

standard are likewise designed for 

maximum driving dynamics. The same 

applies to other new features such as the 

active rear-wheel steering, the nineway 

adjustable traction control system 

and the adjustable coil-over suspension 

with additional electronic control. Fuel 

consumption, combined: 11.4 l/100 km; 

CO2 emissions, combined: 259 g/km. 

The interior standard equipment 

includes extremely light, manually 

adjustable AMG sports bucket seats. The 

contouring of the side bolsters for the 

seat cushion and backrest offers superior 

lateral support. The active rear-wheel 

steering not only improves cornering, 

it also assists the driver in the event of 

sudden evasive manoeuvres and thus 

enhances active safety. 

Those with petrol in their veins will 

be thrilled by the radical longitudinal and 

lateral acceleration. 


The Ferrari Portofino 

revealed 

The Ferrari Portofino is the new V8 GT 

set to dominate its segment thanks 

to a perfect combination of sportiness, 

elegance and on board comfort. 

Capable of unleashing a massive 600 

cv and sprinting from 0 to 100 km/h in 

just 3.5 seconds, the Ferrari Portofino 

is the most powerful convertible to 

combine the advantages of a retractable 

hard top, a roomy boot and generous 

cockpit space plus two rear seats 

suitable for short trips. 

The chassis and body-in-white 

components have been redesigned 

with a consequent reduction in weight 

despite an increase in torsional rigidity. 

All aspects of the 8-cylinder’s 

efficiency have been honed with the 

adoption of new pistons and con-rods, 

and a new intake system design. The 

geometries throughout the exhaust 

system have also been revolutionised. 

The new one-piece-cast exhaust header 

reduces losses, an important factor 

in ensuring Ferrari’s characteristic 

throttle response with zero turbo lag. 

These improvements, combined with 

the Variable Boost Management which 

adjusts torque delivery to suit the gear 

selected, enable the Ferrari Portofino to 

offer even higher levels of acceleration 

in all gears and lower fuel consumption 

compared to the outgoing model. 

For the first time on this type of 

Ferrari model, the third generation 

electronic rear differential (E-Diff3) has 

been adopted and integrated with the 

F1-Trac, improving both mechanical 

grip and the control of the car on the 

limit. The Ferrari Portofino is also the 

first GT in the range to be fitted with EPS 

(Electric Power Steering). This allowed 

the engineers to reduce the steering 

ratio by seven per cent for even more 

responsive steering without a trade-off 

in stability thanks to the integration 

with the E-Diff3. The magnetorheological 

damping system (SCM-E) has been 

uprated with dual-coil technology which 

helps reduce roll while simultaneously 

improving absorption of road surface 

unevenness. 

The Ferrari Design Centre-penned 

Ferrari Portofino is an aggressivelystyled 

car with a two-box fastback 

configuration - unprecedented in a 

coupé-convertible with a retractable 

hard top - that adds extra sleekness 

to its silhouette, lending it a sportier 

character without impinging on its 

elegance and dynamism. 

Starting with the front, the form 

of the large radiator grille opening, 

that stretches from edge to edge of the 

carefully contoured nose, is underscored 

by a new full-LED headlight assembly 

with a more horizontal shape. The 

outside edge of the headlight hides an 

innovative air intake which vents into 

the front wheelarch and exits along the 

flank to reduce drag. 

The tail design enhanced by placing 

the tail lights futher apart. This elegant 

solution cleverly conceals the rear 

volume housing the all-new RHT which 

features a more lightweight design and 

can be raised or lowered at low speeds. 

There was also a particular focus on 

board comfort with 10.2” touchscreen 

display, a new air-conditioning system 

that improves occupant comfort both 

with the top up or down, a new steering 

wheel, 18-way electrically adjustable 

seats with a new backrest design that 

boosts legroom for rear seat passengers, 

and the passenger display. All occupants 

will particularly appreciate the new 

wind deflector which, when the top is 

dropped, cuts air flow inside the cabin 

by 30% and also reduces aerodynamic 

noise. 

All-new 2018 Chevrolet 

Equinox premier 

The all-new 2018 Chevrolet Equinox 

Premier represents the perfect 

balance of design and technology. Eyecatching 

looks complemented by the 

latest safety technologies mean that 

both drivers and passengers are kept 

safe, comfortable and connected on the 

road. 

The 2.0L engine with the standard 

1.5L Turbo option available on LS 

and LT will offer an exhilarating and 

dynamic driving experience. Delivering 

a GM-estimated 252 horsepower, 352 

nm of torque and paired to GM’s allnew 

9-speed automatic transmission. 

13.6km per liter, helping you go further 

for less. 

It is available in All Wheel Drive 

as standard, with an AWD disconnect 

feature that promotes fuel efficiency 

when the rear axle is not needed. A 

unique kneeling rear seat enables a flat 

rear load floor and up to 1,798 liters of 

maximum cargo space. 

The 2018 Chevrolet Premier ensures 

customer connectivity through 

technologies designed to support Apple 

CarPlay and ready to support Android 

Auto* on a standard 8-inch color 

touchscreen with MyLink infotainment. 

The new Equinox Premier offers an 

expanded range of active safety features 

like Safety Alert Seat, Forward Collision 

Alert with Following Distance Indicator, 

Low-Speed Forward Automatic Braking, 

Lane Keep Assist with Lane Departure 

Warning, Lane Change Alert with Side 

Blind Zone Alert, Rear Cross Traffic 

Alert, Rear Parking Assist, Rear Seat 

Reminder can provide an alert when the 

rear doors are used during or just before 

a trip, prompting you to double-check 

for valuables left in the back seat when 

you exit the vehicle. 

*Apple CarPlay and Android Auto 

are products of Apple and Google and 

their terms and privacy statements 

apply. 


81

New redesigned Hyundai 

Sonata 

The 2018 Hyundai Sonata builds 

on the model’s strong legacy, 

while distinctive new exterior styling 

transforms Sonata’s visual signature. 

The dramatic new appearance is 

highlighted by Hyundai’s bold new 

Cascading Grille in front, and an all-new 

rear with more prominent branding and 

relocation of the license plate from the 

trunk lid to the bumper. 

New sheet metal for the sculpted 

hood, front fenders, and trunk makes the 

dynamic new look possible. In addition, 

redesigned alloy wheels 16, 17, and 18- 

inch and distinctive illumination from 

vertical LED daytime running lights, LED 

headlights, and LED taillights further 

highlight the assertive and advanced 

exterior design. The low and wide 

radiator grille makes the hood appear 

longer and sleeker, which is counter 

balanced by the raised trunk lid, shifting 

the side profile architecture to a more 

dynamic attitude. 

The 2018 Sonata can be equipped 

with an optional seven-inch colour 

display audio touchscreen, and enabled 

for Apple CarPlay integration in 

countries where this is available. 

New convenience features offered 

navigation system which is enhanced 

with a bird’s-eye-view feature. It include 

remote engine start with smart key, so 

drivers can warm the engine and run the 

air conditioning before getting into the 

car. Smartphones can now be charged 

without a plug using the available 

wireless charging pad (Qi standard). 

The Hyundai Sonata features a 

selection of advanced, all-alloy fourcylinder 

engines. Options in the Middle 

East include 2.0 and 2.4-liter MPI 

engines, 2.4GDI engine, and a highly 

developed 2.0-liter turbocharged 

GDI. This top-of-the-line 2.0T engine 

produces an impressive power output of 

245 PS with its twin-scroll turbocharger, 

compared with 152 PS for the nonturbo 

MPI. In a technical upgrade, the 

2.0T is mated to a new eight-speed 

automatic transmission, which adds to 

the gears’ ratio range at both the top and 

bottom for improved performance and 

efficiency. 

All-new Subaru XV 

The new Subaru XV, is built on 

Subaru’s new Global Platform, 

significantly enhancing refinement, 

safety, ride comfort, and agility. A 

highlight is the inclusion, for the 

first time in Bahrain, of the advanced 

preventative safety system, EyeSight. 

The all-new XV is improved in 

several areas to achieve an enhanced 

dynamic feel. The rigidity and strength 

of the body and chassis. High-quality 

interior and exterior finishes, Steering 

and pedal feedback, vehicle response, 

noise and vibration are refined to 

achieve a positive driver experience. 

The XV’s impressive off-road capability 

has also been enhanced with X-MODE, 

which is designed to increase 

Lexus Introduces 

"Experience Amazing" 

Ebrahim K. Kanoo, the sole distributor 

of Lexus vehicles in the Kingdom of 

Bahrain, unveiled its new Lexus Level 

1 showroom. The new floor, located 

in the basement area of the Lexus 

showroom, has room for 15 additional 

vehicles, and a large display of the 

Lexus Lifestyle collection. It also offers 

added convenience to visitors with a 

drivability by optimising integrated 

control of the engine, the All-Wheel 

Drive system and the brakes to provide 

additional control if tyres slip and lose 

traction on a slippery road surface. 

The new Subaru XV has adopted 

technologies to further enhance 

its safety, including the advanced 

preventative safety system, EyeSight. 

It acts as a ‘second pair of eyes’ for 

drivers by employing stereo colour 

two cameras either side of the rear 

view mirror to detect the presence 

of vehicles, pedestrians, cyclists and 

other hazards up to 110 metres in 

front. It features six technologies to 

maximise safety: Pre-collision Braking, 

Pre-collision Throttle Management, 

Adaptive Cruise Control, Lane 

Departure & Sway Warning, and Lead 

Vehicle Start Alert. 

lounge area that evokes a unique Lexus 

F and F Sport theme through the use of 

innovative designs and lighting. 

The Subaru XV is available in a 

2.0 litre engine in 3 trim levels; and 

produces an output of 154 hp at 6,000 

RPMs for a maximum speed of 194 

km/h. Prices start from BD6,999 and 

financing is available from BD112 with a 

package including 1 year insurance and 

registration, a 3 year service package, 5 

year or 150,000KM warranty and 5 year 

Roadside Assistance. 

Ebrahim K. Kanoo Senior Manager 

of Lexus Marketing, Ayman Shehadeh 

said: “Lexus is committed to living up 

to its promise of “Experience Amazing”, 

and this new setup is another step in 

that direction. Customers will not only 

feel more comfortable in the luxurious 

lounge area, but will also experience 

the Lexus brand through the unique 

merchandise and themed setup, which 

will put customers in the mindset of 

being Lexus owners.” 



83

Highlights | Other Business 

Gulf Air sign Codeshare 

agreement with Aegean 

Gulf Air and Aegean Airlines, Greece's 

largest carrier, have entered into a 

codeshare partnership widening their 

respective networks across Europe and 

the Middle East. 

Specifically, travellers can now 

codeshare on flights from Bahrain, via 

Athens, to and from the European cities 

of Brussels and Rome while travellers 

from Geneva, Milan and Vienna can now 

codeshare on flights, via Athens, to the 

Kingdom of Bahrain with Gulf Air. 

Mr. Ahmed Janahi, Gulf Air 

Chief Commercial Officer said, “Our 

commitment to strengthening Gulf Air’s 

network is reinforced with this codeshare 

agreement-allowing us to connect our 

passengers to popular destinations 

across Europe that extend beyond our 

network, while giving passengers from 

more cities in Europe the distinctive 

opportunity to visit the Kingdom of 

Bahrain while experiencing our unique 

product and service offering.” 

“We are welcoming this new 

codeshare with Gulf Air and we strongly 

believe that the combined networks of 

our two carriers will offer our guests new 

travel opportunities not only between 

Greece and Bahrain, but also beyond,” 

stated Tassos Raftopoulos, Network 

Planning and Alliances Director of 

Aegean Airlines. 

The national carrier operates a yearround 

direct four weekly service between 

Bahrain and the Greek capital in addition 

to operating double daily flights or more 

to ten regional cities across the GCC and 

MENA region - allowing passengers to 

easily and conveniently transit through 

Bahrain for seamless onwards travel 

across the Gulf Air network. Gulf Air 

flights can be booked online at gulfair. 

com. Fare / booking queries can also 

be directed to the airline’s 24-hour 

Worldwide Contact Centre on (+973) 

17373737, or any Gulf Air sales offices and 

approved travel agencies. 

Wataniya Airways first 

flight to Bahrain 

Kuwait’s newest airline, Wataniya 

Airways, celebrates its first flight 

to Bahrain, a short journey that will be 

available for everyone every day of the 

week. 

Bahrain is the first GCC country that 

Wataniya Airways has touched down in 

since the airline’s launch in July of this 

year. 

“This inaugural flight is the 

beginning of what we hope will be a 

long and fruitful relationship between 

Wataniya Airways and BAC, which will, 

at the same time, enhance tourism 

and trade between our two countries. 

We consider the airline to be a part of 

the wider BIA family and stand ready 

to provide it with the support and 

assistance it requires to offer the best 

possible passenger experience to its 

customers,” said Ayman Zainal, Chief 

Commercial Officer of Bahrain Airport 

company (BAC). 

Bahrain Authority for Culture and 

Antiquities Culture and Arts Director 

H.E. Shaikha Hala bint Mohammad 

Al-Khalifa welcomed the addition of the 

airline’s new service to Bahrain, adding 

that it would help improve relations 

between the people of Kuwait and 

Bahrain, who share a common history 

Ethiopian starts thriceweekly 

service to Bahrain 

Ethiopian Airlines Group, the 

largest airline in Africa, marked 

commencement of a thrice weekly 

service to Bahrain at a reception 

ceremony held at Addis Ababa Bole 

International Airport on August 17, 2017. 

Heralding the inaugural flight, Mr. 

Tewolde GebreMariam, Group CEO 

and heritage. She extended an invitation 

to the people of Kuwait to attend the 

regular cultural events that are held in 

Bahrain. This includes the events of 2018 

when Muharraq will celebrate being 

named the Capital for Islamic Culture 

through several large scale events which 

will be held throughout the year. She 

looks forward to the people of Kuwait 

being among the visitors from the 

Islamic world who will visit Bahrain for 

the festivities. 

Wataniya Airways is the third 

Kuwaiti airline to fly to Bahrain, 

following Kuwait’s national carrier, 

Kuwait Airways, and Kuwait’s second 

national airline, Jazeera Airways. 

Operating from Kuwait International 

Airport, Wataniya Airways currently flies 

to four destinations: Tbilisi, Sarajevo, 

Baku and now, Bahrain with its two 

Airbus aircrafts. Wataniya Airways plans 

on adding new destinations in the near 

future. 

Ethiopian Airlines said, “Bahrain is an 

important destination in the Middle East 

joining the ever emerging Ethiopian 

destinations to the Gulf. We are glad 

that we have resumed our services 

following the growing trade, tourism 

and investment ties between Bahrain 

and Ethiopia and the continent of Africa 

at large. With more than 100 passenger 

and cargo destinations worldwide, our 

network is designed in such a way that 

connect Africa with the major trading 

partners in Asia, Middle East, South and 

North America and Europe. The fact that 

the flight is full from its commencement 

flight designates the success and 

significance of our service to Bahrain.” 

Ethiopian currently flies to major 

cities in the Middle East like Beirut, 

Dammam, Doha, Jeddah, Kuwait, 

Dubai, Muscat, Riyadh and Sharjah and 

Madinah. 


USCO Restarts Operations 

at Stainless Steel Mill 

United Stainless Steel Company, 

USCO, the Middle East’s first and only 

stainless steel mill announced that it is 

now fully operational after completing the 

plant technical maintenance and upgrade. 

High quality stainless steel products 

will be processed at the Hidd-based cold 

rolling mill and shipped to customers 

both in the GCC and worldwide. The 

100,000 ton per year cold roll steel mill 

will include a premium product range, 

with items such as wide and slit coils 

and stainless steel sheets. 

USCO has entered into a production 

and sales agreement with Swiss company, 

Chromiumtrade SA, whereby the latter 

Le Beck International 

Launches New Security 

Mobile App 

Anthony Tesar 

CEO, Le Beck’s 

Le Beck International, one of the 

region’s leading specialist security 

and risk management consultancies 

AGU Alumni Association 

launches App for Graduate 

Students 

The Arabian Gulf University (AGU) 

Alumni Association has launched 

its smart application for university 

graduates, concurrent with the 

upcoming 2017-2018 academic year. 

The application for mobile phones and 

smart devices aims to innovate means 

of communication with graduates which 

are up-to-date with the technological 

transformation based on smart 

will procure the necessary raw materials, 

manage operations and sell the end 

products to its customers. USCO expects 

to gradually ramp up production to around 

8,000 tons per month over the next 12 

months. USCO stainless steel will be 

used for a range of products, including 

decoration, pharmaceuticals, home 

with offices in Bahrain and Saudi Arabia, 

has launched a new security mobile 

application - MENAlert - to provide realtime 

information and valuable analysis of 

the most current security events across 

the Middle East and North Africa region, 

as well as select major global incidents. 

MENAlert provides users with timely, 

credible and relevant alerts, reports and 

analysis on the most significant security, 

political, economic, and environmental 

events unfolding in the region. All content 

is compiled by Le Beck’s expert analysts 

who are located in key regional and global 

touch points, enabling for extensive 

coverage with detailed context and 

forecast. The App enables users to delve 

into pressing issues and gain an in-depth 

understanding of the wider impact that 

such events can have on one’s immediate 

environment, business and society. 

The App is also distinct in that it gives 

applications. The inclusion of this new 

application to the services provided 

to AGU’s graduates by the Alumni 

Association represents a qualitative 

addition and a new stage in means of 

communication with students across 

countries, stated Dr. Abdulrahman 

Yousif Ismail, Dean of Student Affairs. 

Compatible with Apple iOS and Google 

Android systems, the application aims to 

enhance communication with graduates 

and to unite them under the umbrella of 

the Gulf. Since the launch of the Alumni 

Association in its new format, other 

social media channels via Instagram, 

appliances and automotive industries. 

USCO’s workforce currently includes 

over 50 employees of which Bahrainis 

comprise 56%. The workforce will 

need to be tripled in size when the 

plant is running 24/7. This will also 

include team members from Tamkeen’s 

graduate program (Tamkeen is a semigovernmental 

organization in Bahrain, 

established in 2006 as part of the country’s 

national reform initiatives. Tamkeen is 

tasked with making the private sector the 

key driver of economic development.) 

USCO is wholly owned by Foulath, a 

holding company established in 2008, as 

an investment vehicle primarily focused 

on investing in the growth of the steel 

industry in the GCC and broader MENA 

region. 

access to periodic studies compiled by 

Le Beck’s analysts who examine in detail 

the most pressing issues affecting the 

world today. MENAlert is available to both 

individual and corporate subscribers at 

competitive rates, and can be viewed on 

all iPhones and Android devices. 

"We wanted to create a highly 

informative tool for this region that 

can be useful to anyone from corporate 

executives and security managers to 

journalists, academics and students. We 

plan to expand this service in time and roll 

it out across other regions in the form of 

ASIAlert and AFRICAlert, ” said Le Beck’s 

CEO Mr. Anthony Tesar. 

In addition to the detailed reports and 

analysis, the App supports customised 

settings based on the user’s country and 

report preference as well as interactive 

mapping which means that users can 

zoom in on precise locations. 

Twitter, Facebook, and LinkedIn 

have garnered popular interaction by 

graduates over the past few months. This 

indicates their keenness to maintain a 

close relationship with the university and 

their fellow graduates from their varying 

workplace locations. 


85

MEMAC to take place 

alongside BIDEC 2017 

One of the key features of the Bahrain 

International Defence Exhibition 

& Conference (BIDEC 2017) being held 

under the patronage of His Majesty King 

Hamad bin Isa Al Khalifa, and chaired 

by H.H. Brigadier-General Sheikh Nasser 

Bin Hamad Al Khalifa, will be the Middle 

East Military Alliances and Coalitions 

Conference (MEMAC), due to take place 

alongside the exhibition on 16-17 October 

2017. During the two-day programme, 

delegates will hear from the most 

influential regional and international 

military and diplomatic leadership. 

The Conference is being organised 

by Clarion Events in conjunction 

with the Bahrain Defence Force, and 

the Bahrain Center for Strategic, 

International and Energy Studies, 

‘DERASAT’, an international strategic 

and security-focused think tank based 

in the Kingdom of Bahrain. According to 

DERASAT Chairman, Dr Shaikh Abdulla 

bin Ahmed Al Khalifa, “MEMAC will 

examine the critical role that military 

alliances can play in the region’s 

collective defence and security.” 

Jewellery Arabia 2017 

The Middle East’s premier jewellery and 

watch exhibition, Jewellery Arabia, is 

set to return to the Bahrain International 

Exhibition and Convention Centre from 21 

- 25 November 2017. 

Held under the patronage of HRH 

Prince Khalifa bin Salman Al Khalifa 

the Prime Minister of Bahrain, this 

spectacular annual event brings together 

over 600 exhibitors from 30 countries 

for a dazzling 5-day gala of glitz and 

International Chocolate 

& Coffee Exhibition 

Bahrain Tourism and Exhibitions 

Authority (BTEA) will host the 2nd 

“The approach will highlight the 

nexus between politics, diplomacy 

and military action and recognize the 

complexity of securing agreement 

between multiple states, each with their 

own unique political strategies. Speakers 

and panellists have been deliberately 

selected to represent different verticals 

of defence including senior military 

personnel, international diplomats and 

foreign affairs academics.” 

The opening of MEMAC will take 

place on the 16th October, 2017, at the 

Four Seasons Hotel Bahrain Bay and will 

be followed in sequence by the official 

Bahrain International Defence Exhibition 

and Conference Gala Dinner. In attendance 

will be VIP Military Delegations with the 

most senior representatives of overseas 

glamour. Spanning 21,000 square metres of 

exhibition space, a huge range of finished 

jewellery, luxury timepieces, precious 

stones, objets d’art, clocks, fine writing 

instruments and more from around the 

globe go on sale. 

“Last year, we welcomed over 49,000 

visitors from 43 countries. In 2017 visitors 

can look forward to the latest collections, 

creations and innovations at this 

trendsetting exhibition and the unique 

opportunity to purchase from the widest 

selection of jewellery and watches in the 

region,” said UBM AEM’s Director of Sales 

and Marketing, Fawzi Al Shehabi. 

World famous watch and jewellery 

houses will be making a return 

appearance, including major brand names 

to introduce exclusive collections and 

limited edition pieces to the Middle East 

collectors’ market. 

Bahrain International Chocolate and 

Coffee Exhibition under the patronage 

of the Authority’s CEO Shaikh Khalid 

bin Humood Al Khalifa at Bahrain 

International Exhibition and Convention 

defence departments and Bahrain-based 

diplomats. 

Amongst the confirmed presenters 

is US General Wesley K. Clark (ret.) who 

will be Co-Chairing the Conference. 

General Clark brings a wealth of 

experience as a former commander 

of NATO forces and will be leading 

discussions on joint operations, emerging 

defence technologies, alliances and 

policy formulation. The second-day of 

MEMAC will be hosted at the Palm Hall, 

directly adjacent to the main BIDEC 2017 

exhibition at the Bahrain International 

Exhibition and Convention Centre. 

Registration for MEMAC 2017 is 

now live at www.bahraindefence.com, 

and a delegate pass to MEMAC also 

allows access to BIDEC 2017 where over 

120 international manufacturers and 

suppliers of the latest military equipment, 

technology and systems will be present 

on 16-18 October 2017. With over 3000 

international visitors expected to 

attend BIDEC, there will also be unique 

features including Shooting Range 

Exercises, Parachute Demonstrations, 

a Warship Display and Military Vehicle 

Demonstrations taking place in Bahrain as 

part of the show. 

Complementing these iconic brands 

are national groups from leading jewellery 

export countries like Hong Kong, 

India, Singapore and Thailand. Joining 

international brands and national groups 

are a host of designers, retailers and 

manufacturers from all over the world, 

including a selection of Bahrain’s leading 

jewellers. 

To assist visitors with making 

informed buying choices, the world’s 

foremost authority on gemology the GIA 

(Gemmological Institute of America) 

will be offering visitors complimentary 

seminars on gems and jewellery. 

Jewellery Arabia 2017 is open free 

of charge to the public. The exhibition 

will open from 4 pm to 10 pm on 21 to 24 

November, and from 12 pm to 10 pm on 25 

November. For more information, please 

visit www.jewelleryarabia.com. 

Centre (BIECC) on December 7-9. 

It will open new vistas from the 

perspective of investors, importers, 

entrepreneurs as well as bring in 

international expertise in this industry. 



87

Biz Dashboard 

Most Popular Rental Area 

Percentage 

20.0% 

10.0% 

11.76% 

15.31% 

10.54% 

9.37% 

12.23% 

9.17% 

5.73% 

5.47% 

5.83% 

5.41% 

3.88% 

4.03% 

3.67% 

3.22% 

2.79% 

3.14% 

1.96% 

2.87% 

0.0% 

Juffair Saar Amwaj 

Islands 

Adliya Seef Reef 

Island 

Janabiyah 

Umm Al 

Hassam 

Hidd 

Area 

2016 Q2 2017 Q2 

Most Popular Rental Property Type 

Percentage 

60.0% 

50.0% 

40.0% 

30.0% 

20.0% 

49.62% 

54.12% 

35.73% 

28.51% 

10.0% 

4.13% 

5.08% 

2.57% 

2.89% 

1.22% 

2.25% 

2.07% 

2.08% 

0.0% 

Apartment or 

Flat 

Villa Compound House Commercial 

Office 

Studio 

Property Type 


Source: Bahrain Property World - http://www.bahrainpropertyworld.com 

Market Share for PR Coverage 

Banking 35% 24% 15% 12% 9% 5% 

Others CBB NBB BBK Ithmaar KFH 

2% 

Telecom 40% 28% 19% 11% 

Batelco TRA VIVA Zain Menatelecom 


30.0% 

Most Popular Buy Area 

21.06% 

Percentage 

20.0% 

10.0% 

15.12% 

11.76% 

7.49% 

7.94% 

7.36% 

6.4% 

6.94% 

6.05% 

6.23% 

5.94% 

5.59% 

2.87% 

2.8% 

2.87% 

2.72% 

2.05% 

2.71% 

0.0% 

Amwaj 

Islands 

Riffa 

Views 

Juffair 

Reef 

Island 

Saar Seef Busaiteen Durrat Al 

Bahrain 

Janabiya 

Area 


Most Popular Buy Property Type 

Percentage 

50.0% 

40.0% 

30.0% 

20.0% 

10.0% 

0.0% 

41.97% 

Villa 

40.67% 

35.52% 

33.02% 

Apartment or 

Flat 

7.7% 

9.15% 

5.47% 

6.78% 

4.21% 

4.18% 

1.61% 

1.65% 

Land House Building Penthouse 

Property Type 


Source: Bahrain Property World - http://www.bahrainpropertyworld.com 

Real Estate 36% 22% 17% 12% 8% 5% 

Others Bin Faqeeh Diyar Al Muharraq Masassi Al Bahrain 

Manara Naseej 

Other Business 29% 26% 19% 13% 9% 

4% 

ALBA Gulf Air BAC Euro Motors E.K. Kanoo First Motors 

bizbahrain.com - Web Portal Overview as on August 2017 Total Articles (11,753) Total Views (2,297,490) Total Visitors (300,781) 


89

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90 September-October 2017 

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91

Listing | Tender Board Bahrain 

Company Name 

Tender Subject Tender No. Tender Type Closing Date 

Gulf Air Procurement & 

Logistics Department 

Supply of individual Chocolate 

(Pack of 3) for Falcon Gold Class 

17-07-1681-BTB Public 04/10/2017 

The Bahrain Petroleum 

Company BSC 

Feasibility study to replace existing 

three Gas Turbo Generators 

T170091 (39) Public 08/11/2017 

Tatweer Petroleum 

Construction of a new single-story 

building for the chemical lab within 

the Jebel compound area 

RFP/Tatweer/70/2017 

(TP-137-2017) 

Public 11/10/2017 

Ministry of Work & 

Municipalities and 

Urban Planning 

Rental of 44 Vehicles for Municipal 

Affairs and Agriculture Affairs 

MUN/04/HR/2017 Public 04/10/2017 

Bahrain Electricity and 

Water Authority 

Replacement of old water 

pipes in Arad 

2017-135-PP-WDD 

RFP20173924190290 

Public 04/10/2017 

Bahrain Electricity and 

Water Authority 

Cables 220 KV and 66 KV 

4678/2016/3100 Public 01/11/2017 

The Bahrain Tourism & 

Exhibition Convention 

Authority 

Bahrain Shopping 

Employments 2017/2018 

BTEA 54/2017 Public 27/09/2017 

Expansion of Admission & 

Ministry of Health Maintenance of Labor Unit at 

107/17 Public 27/09/2017 

Jidhafs Maternity Hospital 

Ministry of 

Transportation and 

Telecommunications 

Auction of Taxi operation cards in 

the Kingdom of Bahrain 

MTT/LTD/02/2017 Public 27/09/2017 

Ministry of Health 

Replacement of Air Conditioning 

Unit at Psychiatric Hospital and 

Ruffaudah 

108/17 Public 27/09/2017 

The Bahrain Petroleum 

Company BSC 

Supply of Cutler-Hammer 

Electrical Spares 

Q094341 (31) Public 27/09/2017 

Source: www.tenderboard.gov.bh 

www.arabianindustry.com/tenders 



Tweets 

820 

Total Tweets 

220.1K 

Tweet Impressions 

3,060 

Profile Visits 

4,647 

Followers Stats as on September 2017 


UNDER THE PATRONAGE OF HIS MAJESTY KING HAMAD BIN ISA AL KHALIFA, KING OF THE KINGDOM OF BAHRAIN 

 

 

ا 

و 

ا و ا عع 

ضض 

ض 

BIDEC 

Bahrain International Defence 

Exhibition & Conference 

bahrain’s premier 

international 

tri-service defence show 

16 -18 October 2017 

Bahrain International Exhibition & Convention Centre 

120+ Exhibitors 

3000+ visitors 

Warship Display 

Shooting Range 

Military Vehicle Demo 

Parachute Display 

register today 

/visitbidec 

@visitbidec 

@visitbidec2017 

Platinum Sponsor 

Gold Sponsor 

Bronze Sponsor 

Bronze Sponsor 

Media Partner 

Officially Supported by 

In Conjunction with 

Event Partner 

Organised by 

Bahrain Defence Force 

Royal Bahraini Air Force 

Royal Bahrain Naval Force 

The National Guard of Bahrain 


95

BizBahrain Magazine Sep-Oct 2017

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