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.
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’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