BizBahrain Magazine (May-June 2019)

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Real Estate Edamah sign an agreement with KFH-Bahrain to finance its "Sa’ada" development Bahrain Real Estate Investment Company (Edamah) the real-estate arm of the sovereign wealth fund of the Kingdom of Bahrain, has signed an agreement with KFH–Bahrain, as a strategic partner to finance Edamah’s "Sa’ada" Project. The unique waterfront development is the first of its kind in the Kingdom; designed to cater to the needs of a diverse base of locals and tourists, as well as serving the requirements from an investor and business perspective, providing the tenants with a differentiated project. Sa’ada will feature a variety of public facilities, including restaurants, kiosks, and a promenade, alongside various other services, enabling the development to emerge as a value-adding project for the community at large. Abdulhakeem Alkhayyat, Managing Director and Chief Executive Officer (CEO) of KFH–Bahrain, revealed, "We are delighted to have been appointed as the official fi n a n c i n g p a r t n e r o f t h e waterfront development project. Through this initiative, we seek positively contribute to further diversify the economy, in line with the Economic Vision 2030. " Amin Alarrayed, CEO of Edamah, revealed, “The development phase of the “Sa’ada” project is expected to be completed during the year, whereas operational phase of the project will be completed in early 2020, in collaboration with a number of companies, retailers, restaurants, cafes and waterfront activities." The “Sa’ada” comes in line with Edamah’s long-term strategy focused on developing new projects and renovating existing ones in a sustainable manner, managing them all in accordance to international standards and utilizing best Golden Gate project embodiment of uniqueness and an architectural masterpiece Golden Gate, the 140,000 square meter project, located in the heart of Bahrain Bay, consists of 746 apartments spread over two residential towers of 53 floors and 45 fl o o r s . T h e p r o p e r t y i s f u r t h e r equipped with 7 floors of parking to accommodate 999 parking spaces. Vice President of Golden Gate Marketing and Sales, Eman Al Mannai mentioned that the Golden Gate project is being implemented by a global partnership between India's Ajmera Mayfair Realty Group with Kooheji Golden Gate Property Bahrain. “We have been very satisfied with the interest of local and foreign investors in acquiring the opportunity to own one or more apartments in this project for the purpose of housing, leasing or resale,” she said. The Real Estate Regulatory Authority (RERA) has had a great impact in supporting the real estate sector by restoring industry practices while seeking to meet the market needs thereby contributing value to the entire community in a holistic manner. Since the commencement of construction works, which began on 3rd July 2018, the construction of all buildings, structures, and electrical and mechanical works are in the development phase, seven twostory buildings are currently at 50% completion, and the project in its entirety is scheduled for full completion in the last quarter of 2019. Eman Al Mannai Vice President, Golden Gate Marketing and Sales confidence to investors. Issuing the Golden Gate project, a license approved by RERA has helped in giving reassurance and trust for investors towards the owners and the project. Ms. Al Mannai also thanked the Government of the Kingdom of Bahrain for its continuous efforts in decreeing laws and regulations that would create a healthy investment environment. “Our team has also effectively introduced visitors to the Kingdom to freehold projects which allow various nationalities to obtain residence in Bahrain when investing in the project,” added Ms. Al Mannai. “The Golden Gate project is the embodiment of uniqueness and is an architectural masterpiece, drawing inspiration from Bahrain with its sails and gold, and Indian jewels at the top and bottom of the towers,” she concluded. Savills to manage BWTC and Moda Mall Global real estate advisor, Savills take over the property management, leasing, facilities management and marketing, covering the entire retail and commercial portfolio of Bahrain’s premier landmark property, which includes Bahrain World Trade Center (BWTC) office towers and MODA Mall, Bahrain’s only luxury shopping and dining destination. Located prominently next to the King Faisal Highway, Bahrain World Trade Center is Bahrain’s iconic business and commercial property address, including MODA Mall, location of many of the worlds most famous fashion and retail brands, providing a unique customer experience all year round. The new partnership is announced at a time when international occupiers are increasingly looking for iconic buildings within the Central Business District of Bahrain. Paul Nathan, Head of Real Estate Management for Bahrain World Trade Center and MODA Mall said, “Savills has an experienced regional team backed up by global specialists. It’s important for us to work with a global market leader who can guide us on how to best position the asset to the latest international standards.” Savills’ Head of Northern Gulf, Harry Goodson-Wickes said, “Bahrain World Trade Center is one of the best commercial and retail spaces in the Middle East and we look forward to providing our best in class property services to local and international occupiers of BWTC and MODA Mall.’ 56 May-June 2019
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CONTENTS May - June 2019 28 | Bahra
Page 7 and 8: Ramadan Kareem Experience the taste
Page 9 and 10: ENCHANTING RAMADAN BAHARAT RESTAURA
Page 12 and 13: Main Feature | ICT Sector EXPLORING
Page 14 and 15: Interview | Huawei Ian Li President
Page 16 and 17: Interview | Huawei Showing its grow
Page 18 and 19: Interview | Huawei been dedicating
Page 20 and 21: Interview | CrediMax 20 YEARS OF DY
Page 22 and 23: Interview | CrediMax and credit ris
Page 24 and 25: Interview | Zoho Corp Raj Sablok Pr
Page 26 and 27: Interview | Zoho Corp Shall we go b
Page 28 and 29: Interview | Mohamed Isa BUILDING TH
Page 30 and 31: Spotlight | BIDEC 2019 BIDEC 2019 B
Page 32 and 33: Economic Strategy | Kingdom of Bahr
Page 34 and 35: Property Finder | Real Estate Analy
Page 36 and 37: Property Finder | Real Estate Analy
Page 38 and 39: Business Report | OBG What you need
Page 40 and 41: Expert Opinion | Information Techno
Page 42 and 43: Cybersecurity Solution | CTM360 2 F
Page 44 and 45: Highlights | Government iGA 2018 Fo
Page 46 and 47: Government Export Bahrain launch ne
Page 48 and 49: Highlights | Banking & Finance CBB
Page 50: Banking & Finance Citi continues to
Page 53 and 54: Telecom Smart Home WiFi solution Ba
Page 56 and 57: Highlights | Real Estate Era Projec
Page 60 and 61: Highlights | Technology Wonder News
Page 62 and 63: Technology Huawei P30 series HUAWEI
Page 64 and 65: Highlights | Automotive Ferrari F8
Page 66 and 67: Automotive The All-New RAV4 Bringin
Page 68 and 69: Highlights | Other Business A.I Aca
Page 70 and 71: Other Business CIOCCOLATITALIANI op
Page 72 and 73: Biz Dashboard COMMERCIAL OFFICES FO
Page 74: Listing | Tender Board Bahrain Comp
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BizBahrain Magazine (May-June 2019)

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