PRESS RELEASES

Bahrain World Trade Center hosts the MENA event of Royal Institution of Chartered Surveyors (RICS)

02 Nov, 2017

Manama, Bahrain (October 2017): Bahrain World Trade Center (BWTC), the Kingdom’s iconic landmark building, recently hosted the MENA event of 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. Her Majesty's Ambassador to the Kingdom of Bahrain, Mr. Simon Martin CMG was the guest of honour for the event, which attracted participation from over 80 industry professionals.

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The RICS event led by Robert Jackson, Director for Middle East and North Africa, RICS, explored how International Standards for the Built Environment Sector drives transparency and creates a market more conducive to inward investment, as well as a discussion on the initiatives RICS are currently driving. Kelvin Crutchlow, Director & General Manager of Cushman & Wakefield Bahrain, the Managing Agent of Bahrain World Trade Center and MODA Mall stated, BWTC is delighted to showcase RICS on a regional level, and hope it will pave the way for many such industry events in the future.

Bahrain World Trade Center reaffirms strong presence in the commercial office real estate sector

Landmark property to be showcased at BIPEX 2017 and will host upcoming RICS event

02 Nov, 2017

Manama, Bahrain (October 2017): Fortifying its strong presence in Bahrain’s high-end commercial office real estate space, Bahrain World Trade Center (BWTC), the Kingdom’s iconic landmark building, will be participating in Bahrain International Property Show (BIPEX) from October 26th – 28th, 2017. A business address of choice for leading global and regional firms, this will be BWTC’s second-year participating in BIPEX this year, 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.

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With the growth of Bahrain’s non-oil sector reaching 4.4% in the first quarter of 2017, up from 3.7% in 2016, according to the 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.

To date, BWTC has secured eleven new lease agreements, a total of 7,444 sq. meters, representing 6% of BWTC’s total area. In addition, seven lease renewals have been successfully completed, a total of 1,547 sq. meters. BWTC’s tenant portfolio now boasts a commanding 39% of banking & financial services, 26% of consulting firms and 11% of real estate, with the remainder from other sectors.

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 & Beverage offerings. Customers will enjoy an elegant and relaxed ambience, complementing the business-oriented services of BWTC.

To further highlight its dominant position in the Kingdom’s commercial real estate market, BWTC will also be hosting an event on October 17th at 5.30pm 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 H.M. Ambassador to the Kingdom of Bahrain, Mr Simon Martin CMG.

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.

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