Saturday, October 14, 2017

BWTC to shine at Bahrain property expo

Fortifying its strong presence in the country’s high-end commercial office real estate space, Bahrain World Trade Center (BWTC), the kingdom’s iconic landmark building, will be taking part in the upcoming Bahrain International Property Show (Bipex) in capital Manama.

A major event that brings together leading Bahraini real estate companies and builders to highlight projects for investors and visitors, Bipex will run from October 26 to 28 at the Bahrain International Exhibition and Convention Centre.

It is being organised by Bahrain Society of Engineers (BSE) under the patronage of Bahrain's Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa.

A business address of choice for leading global and regional firms, BWTC will be taking part in the expo for the second second time, having previously participated in other industry events including Gulf Property Show 2017 and Cityscape Dubai.

At the Bipex event, the 44-storey twin office towers will be advocating its world-class business amenities as well as competitive leasing options and showcasing them at its exhibition stand, E26 and F27 for business visitors to get more information on the property, said a statement from BWTC.

With the growth of Bahrain’s non-oil sector reaching 4.4 per cent in the first quarter of 2017, up from 3.7 per cent last year, as per Bahrain Economic Development Board’s (EDB) economic quarterly report, the kingdom’s commercial real estate market has remained stable with resilient occupancy and rental rates over the summer months, usually considered a lull period.

Financial services, transportation and communications sectors in particular have continued to perform strongly, resulting in increased leasing enquiries, as international businesses make Bahrain their preferred Middle-East office headquarters, or look to expand existing operations, it stated.

To date, BWTC has secured eleven new lease agreements, a total of 7,444 sq. meters, representing 6 per cent of the development’s total area.

In addition, seven lease renewals have been successfully completed, a total of 1,547 sq m, said a company spokesman.

BWTC’s tenant portfolio now boasts a commanding 39 per cent of banking and financial services, 26 per cent of consulting firms and 11 per cent of real estate, with the remainder from other sectors, he noted.

Additionally, with hospitality and restaurants emerging as one of the fastest growing sectors, Moda Mall, the luxury shopping destination which is located at BWTC will be highlighting its high-end facilities to host additional food and beverage offerings, said the spokesman.

Customers will enjoy an elegant and relaxed ambience, complementing the business-oriented services of BWTC, he added.

To further highlight its dominant position in the kingdom’s commercial real estate market, BWTC will be hosting an event on Tuesday (October 17) for the Royal Institution of Chartered Surveyors (RICS), the global professional body which underpins international standards in valuation, management and development of land, real estate, construction and infrastructure.

Guest of Honour for the event will be UK Ambassador to Bahrain, Simon Martin CMG.-TradeArabia News Service

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