Completion of phase one lots of ‘Investment Gateway – Bahrain’ and launch of phase two infrastructure works to end in 2016
With great success, and ahead of schedule, “Investment Gateway – Bahrain” successfully sold all the lots launched under phase one of the project. The project is now in the pre-planning stage of sales for phase two in the near future.
Managing Director of Manara Developments Dr. Hassan Al Bastaki announced; “This outstanding success witnessed in phase one of the project indicates the effectiveness of all the plans laid down in the initiation of the project of which carries a new philosophy of industrial districts in the Muharraq Governorate as sub-developers are granted the luxury to invest on a permanent basis as opposed to temporary investments on leased properties that would potentially be abandoned at the end of the investment period.”
He added, “The start of sales of phase two lots will start in the second quarter of this year, noting that the success witnessed after the sales of phase one lots has driven a number of interested buyers to express their interest in purchasing phase two industrial lots in the Murarraq Governorate.”
He pointed, “The tremendous demand witnessed on ‘Investment Gateway – Bahrain’ lots from major and pioneering companies in Bahrain has boosted the sales of phase one lots of the project. He emphasized that a population of next-in-line interested buyers of phase two lots comprises of large to medium enterprises aiming to diversify their businesses and strengthen their market positions through “Investment Gateway – Bahrain.”
On that note, Dr. Al Bastaki confirmed that negotiations between “Manara” and the related governmental authorities are approaching their final stages in order to proceed with the necessary Infrastructure works for “Investment Gateway – Bahrain” targeting completion in 2016. He pointed that the completion of the necessary infrastructure works will shape a new start for IGB and for the companies interested in setting their headquarters, exhibitions and undertaking various business activities. A number of well-established companies such as Ebrahim Khalil Kanoo, Yousif Khalil Al Moayed & Sons, Montreal Auto, Ciramica Delmon and Bahrain Limo have participated and purchased lots to operate and expand their businesses within the realm of Investment Gateway Bahrain.
“Bahrain Investment Gateway”, is the first industrial project in the governorate Muharraq that enables the investor to obtain ownership of the land with the ownership certificate in hand. Those properties are not subject to a limited period lease, as is the case with other industrial areas of the Muharraq Governorate. Moreover the owner has the choice to best utilize the property in whatever way is seen suitable to the land and the purpose of the investment. The locations will have the capacity to serve as offices, showrooms, storage facilities, handling services, and sales offices, all of which are basic requirements to undergo a smooth business in the Kingdom of Bahrain and particularly Muharraq.
Amongst the main features that distinguishes “Investment Gateway – Bahrain” from other industrial areas is its competitive pricing, of which “Manara” sought to provide a wide range of options on the offered lots at competitive prices to build demand towards this vibrant region and provide a promising platform for businesses in the Kingdom of Bahrain.
For more information, please contact:
Mr. Nawaf Ali Alghanim
Manager – Marketing and Corporate Communications