PRESS RELEASES

BWTC participated in Gulf Property Show 2017

Fortifies its strong presence in Bahrain’s high-end commercial office space

17 May, 2017

Manama, Bahrain (April 2017): Bahrain World Trade Center (BWTC), the Kingdom’s iconic landmark building and a business address of choice for leading global and regional firms, will be participating in Gulf Property Show 2017 from April 25th – 27th 2017. The 44-storey twin-tower skyscraper with electricity-generating wind turbines, the first building in the world with this extraordinary feature, will be highlighting its property portfolio, world-class business amenities and attractive leasing terms for prospective tenants. This will be BWTC’s first participation in Gulf Property Show 2017 having previously showcased its property portfolio in several industry events including Cityscape Dubai and BIPEX.

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Bahrain enjoys an exceptionally favourable economic climate, an attitude that welcomes foreign investment and excellent economic development opportunities. As one of the most diversified economies in the GCC with a well-established business infrastructure, Bahrain relies heavily on the non-oil sector which now accounts for 80% the country’s GDP. The real estate sector with an annual growth of 5.5%, has been witnessing noticeable improvements in leasing fundamentals driven by companies looking to launch or enhance their business operations in the Kingdom, thus creating a demand for high-quality spaces.

 

Capitalising on this growing business need, BWTC has constantly evolved its leasing strategy as per the commercial needs of foreign businesses and as a result, has achieved stable business growth and high-yield returns of the landmark property. Over the years, the total occupancy of BWTC’s east and west tower has increased to 84.18% and 82.38% respectively, with seven new leasing agreements for 5,077 sq. meters in addition to seven lease renewals for 1,547 sq. meters recently concluded. BWTC’s tenant portfolio now boasts of a dynamic mix of international and local businesses which include Kanoo Motors, Investrade, Ernst & Young, Regus Business Center, Charles Russell LLP, JP Morgan and Al Salam Bank Bahrain, to name a few.

 

Designed by international architectural experts ATKINS, BWTC offers an elegant atmosphere, award-winning architecture, breath-taking views, high-speed panoramic elevators and cool marble interiors.

BWTC continues to support breast cancer campaign

Bahrain World Trade Center (BWTC) illuminated in pink in support of ‘Manama – The Pink City’ breast cancer awareness campaign

17 May, 2017

Manama, Bahrain (October 2016): The Kingdom’s iconic landmark building, Bahrain World Trade Center (BWTC), is once again commemorating Breast Cancer Awareness month by partnering with Bahrain Cancer Society for the fourth consecutive year. The campaign, ‘Manama – The Pink City’, dedicated to raise awareness about the timely evaluation of breast cancer and its treatment, will witness BWTC twin towers illuminated in pink for the entire month of October.  

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Breast cancer is one of the most common cancers among women in the Kingdom. As part of its ongoing corporate social responsibility, BWTC will be joining businesses and local communities to provide awareness and education about this special cause among women and their families, and encourage them to undergo regular mammography to help detect cancer in its earliest stages.

 

Earlier this year, BWTC extended its support for breast cancer awareness and prevention by participating in the first regional public awareness campaign, GCC Cancer Awareness week, organised in collaboration with the BSC, Gulf Federation for Cancer Control (GFCC) and Gulf Centre for Cancer Control and Prevention (GCCCP). 

Cushman & Wakefield Bahrain extends contract to manage Bahrain World Trade Center and MODA Mall

Announces key appointments in property and asset management team

30 Aug, 2016

Cushman & Wakefield (C&W) Bahrain has successfully extended its contract as appointed managing agent, as well as exclusive leasing agent of the Kingdom’s iconic landmark, Bahrain World Trade Center (BWTC) and luxury retail shopping destination MODA Mall. The agreement will see C&W Bahrain continue to manage and lease the 46,500 sq. meters of office space for BWTC and 16,500 sq. meters of retail space for MODA Mall.

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Leveraging Bahrain’s favourable economic climate, strategic geographical location and well-established business infrastructure, C&W Bahrain has achieved stable business growth and high-yield returns for Bahrain World Trade Center. Total occupancy increased to 81.9% in 2015, attracting major international businesses such as BAE Systems, JP Morgan and UPS, C&W Bahrain has succeeded in strategically positioning BWTC as the Kingdom’s business address of choice. Moreover, capitalizing on the GCC’s appetite for luxury brands and close proximity to Saudi Arabia, C&W Bahrain has successfully positioned MODA Mall as an exclusive retail destination synonymous with luxury and high-end shopping. The mall achieved 4.5% year-on-year occupancy growth and currently enjoys 94% retail occupancy.

 

With this third successive contract renewal, C&W Bahrain will continue to explore innovative new opportunities and spearhead a number of significant leasing agreements for both landmark assets. This will be driven under the leadership of its newly appointed property and asset management team. The team will be led by Kelvin Crutchlow as Director of Asset Services - Middle East and General Manager of Bahrain World Trade Center and MODA Mall. Kelvin will be supported by Hannah Walker as Property Manager; and Sara Watson as Leasing Manager, both having significant experience in their respective fields.

 

Michael Hatt, EMEA Head of Asset Services at Cushman & Wakefield commented, “We are delighted that Cushman & Wakefield Bahrain has successfully retained both the property management and exclusive leasing mandates for Bahrain World Trade Center and MODA Mall. Moreover, our long-standing association with these marquee assets is further boosted by the recent appointment of our core management team. Under the leadership of Kelvin Crutchlow and with his wealth of international asset management experience, we are confident of delivering greater added value to our client. These appointments reaffirm Cushman & Wakefield’s continued commitment of delivering unrivalled real estate solutions to our clients.”

 

“I am delighted to join Cushman & Wakefield Bahrain and drive forward the commercial and retail growth for BWTC and MODA Mall respectively. As Bahrain continues to be one of the most diversified GCC economies, we will continue to capitalize on the unique offerings of both assets, through exposure in industry forums, as well as attractive lease terms, which we are confident will continue to attract leading international players, be it corporates or brands,” said Kelvin Crutchlow, Director of Asset Services - Middle East and General Manager of BWTC and MODA Mall.

 

 

With more than 16 years’ of international asset management experience in the UK, Europe and Middle East, Kelvin brings extensive understanding and knowledge of retail and mixed use developments, advising developers, investment funds, financial institutions, public sector entities and private investors. He is a Chartered Surveyor and RICS Assessment of Professional Competence (APC) Assessor. Prior to joining C&W Bahrain, Kelvin worked in the United Arab Emirates as Director of Retail Consultancy (MENA) with Colliers International and more recently as General Manager of ‘The Beach’, with Meraas Holding.

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