Wednesday, September 20, 2017

Interview - Abdulla Faisal Al Doseri (Bahrain Bay)

There is a great business opportunity for Indian developers and EPC contractors

 

Bahrain Bay is the first master plan developer in Bahrain to offer land parcels as freehold title complete with infrastructure. ABDULLA FAISAL AL DOSERI, DEPUTY CHIEF EXECUTIVE OFFICER, BAHRAIN BAY DEVELOPMENT offered his views on the potential for involvement of Indian construction firms in the international project

 

On the Bahrain Bay project: Bahrain Bay is a mixed use real estate development located in the financial and business center of Manama, the capital of Bahrain.  We are close, just a 10-minute drive to the airport, a 15-20 minute drive to the causeway and to Saudi Arabia.  The project offers construction potential is areas such as electricity, water, sewage, district cooling in addition to ICT and sewage and water treatment.  The whole infrastructure is now complete and the zone is now ready for any developer to come. So we have created the land, a man-made island in the sea, and have provided the area with all services and utilities. The land is now ready for sale.

 

On the progress of the project: We have managed to sell more than 65 per cent of the blocks to international investors and local investors. We have investors from the US, Canada, UK, France, Kuwait, Saudi Arabia, Qatar, Bahrain, Dubai, Singapore and India.  The investors are extremely happy with the Bahrain Bay location, master plan, design, and infrastructure capabilities. Skidmore, Owings & Merrill have done a great job for us by providing a state-of-the-art design. There are many projects ongoing at Bahrain Bay. One of them is the Arcapita Bank building which is already completed and handed over to the client – it is now operational.  There is another client, the Al Baraka Bank Group and the construction will be ready this year.  Also we have Four Seasons Hotel, which is under construction, and will be completed before the end of the year. It will be operational by December 2014.  We also have on the other side of the island, the 55 storey Wyndham Hotel, and also service offices. So we have a mixed use real estate group comprising residential, hotels and commercial surrounded by the water of the sea. It is designed nicely to attract business and for people to experience Bahraini hospitality

 

On the role Indian real estate firms can play in the project: Developers from India can come and invest. They can buy land and develop a new real estate project so there is a great opportunity. There is already one investor from India, the Ajmera Mayfair Realty Group which has invested in the project. Their project will be starting before the end of the year. The Bahrain Bay project has elicited great interest in India. A couple of other real estate developers have also made enquiries. We are now evaluating their interest.  

 

On opportunities for EPC contractors: We welcome any company interested to come to Bahrain. The Bahrain Bay project is a great opportunity for the Indian construction sector players – they could be contractors or  suppliers of construction materials like aluminum, bricks, cement and labour. There is also a demand for civil and chemical engineers.




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