7th APRIL 2015 - Vol.XXXVIII No.018
Business News

BFH wins top award at key Arab summit

MANAMA: Bahrain Financial Harbour (BFH), the kingdom's $3 billion financial community landmark, was named 'Best Mixed-Use Development Project' at the Second Arab Investment Summit in Abu Dhabi.

Judged by a panel of prominent property developers and equity financiers from across the Middle East, the Arab Achievements Awards were presented in recognition of companies with projects that have shown outstanding performance and made exemplary contributions to the region's development.

BFH public relations and corporate communications manager Lina Mubarak collected the award from Obaid Al Shaikh Al Noaimi and Juma Mohammed Al Kait, assistant under-secretary, Foreign Trade Ministry.

"We are delighted to have won the Arab Achievement Award in this category and feel proud to have contributed to the development of Bahrain as well as the Middle East," BFH managing director Dr Omar Al Mardi said.

"This prestigious award is a reflection of our hard work and determination that serves as symbol for our kingdom's vision and inspiration for the future.

"Despite the crisis faced in the country recently, BFH regained a sense of normality in their operation and business was back on track almost immediately," he added.

"The projects and developments in this category were judged based on several criteria that included innovative approach, strategy of the development, design, quality and a number of other prominent factors.

"Over the past few months several renowned companies have signed prime tenancy agreements with BFH.

"They include Western Gulf Advisory, Bahrain Financial Exchange, Naseej and MB International. Therefore, it would be correct to state that almost 65 per cent of the office space has been leased at the financial centre," said Dr Al Mardi.

BFH tenants successfully managed to continue operations despite the unrest and overcame any difficulties faced during this difficult period.

BFH's prime tenants, including BNP Paribas, Khaleeji Commercial Bank, Bahrain Bourse, Abu Dhabi Investment House, Bahrain Islamic Bank, Bank of Tokyo, Islamic Bank of Asia, Dexia Private Bank, Capinnova Investment Bank, HDFC Bank, Dexia Asset Management, Bahrain Financial Exchange, have recommenced everyday operations and functioning.

"As the financial hub of Bahrain, BFH plays an important role in developing the kingdom's economy and attracting foreign direct investments which have propelled Bahrain's 'business friendly' image internationally," said Dr Al Mardi.

"Through BFH's comprehensive vision we aim to achieve all of our objectives in support of the financial growth of Bahrain," he added.

Based on a recent international study, Bahrain ranks first among 17 countries in the Middle East and North Africa region, with an economic freedom score well above the world average.

By providing an advanced, integrated environment for financial sector companies, BFH has evoked significant interest globally and has previously been dubbed the Canary Wharf of the Middle East.

BFH is one of the Middle East's most exciting property developments and a tribute to Bahrain's progressive vision.

A fully integrated master-planned development, BFH covers an architecturally stunning 380,000 square metres of waterfront property featuring high specification office space, luxury residential accommodation and a five-star hotel, together with retail, leisure and entertainment facilities for tenants, investors and visitors alike.

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