Bahrain Financial Harbour Holding Company (BFHHC) has announced that it had appointed UK-based real estate consultants Cluttons as Leasing, Sales & Marketing Agents for its full-service integrated waterfront development project the US$ 1.4 billion Bahrain Financial Harbour (BFH).
The announcement comes at a time when construction work on Phase I of the project ‘the Financial Centre’ is nearing completion and the reclamation work on the remaining two phases of the project is complete.
Commenting on the appointment and role of Cluttons, Mr Stephen Rothel, Chief Executive Officer, BFHHC, said: “BFH is currently at a very critical junction, where something that started as a vision approximately two years ago, is today rapidly reaching realiation. With over 90 per cent of the development work being completed on the Financial Centre, Phase I of the project is virtually now ready for handover to tenants. Significant momentum is now gathering on the tenancy side and a string of committed tenant announcements will be following shortly.
Cluttons, with its vast global expertise in the real estate sector would help us to optimally capitalize on the tremendous goodwill the project has developed both regionally and internationally. As Leasing, Sales & Marketing Agents for the project, they will be responsible not just for bringing on board the target financial sector clients but also retail clients who would form a key component of the Financial Mall, which is located in the Financial Centre,” Mr Rothel added.
BFH, which is aimed at reinforcing the reputation of the Kingdom of Bahrain as the Middle East’s financial hub, is planned as a landmark integrated development that will be home to the entire value chain in the financial sector. This unique waterfront business and financial district on the Manama Corniche will offer office, retail, commercial, residential and leisure facilities comprising 30 individual development land parcels spanning 380,000 sq metres.
Elaborating on the merits of the partnership, Mr. Don Bradley, Chief Executive Officer, Cluttons, said: “We are delighted to be associated with BFH, and are confident that through our in-depth knowledge of local as well as international markets we will successfully help market BFH among potential investors both in the region and globally.”
Formed in 1765, Cluttons is one of the leading firms of Chartered Surveyors and Property Consultants in the United Kingdom with its head office in the heart of London. Since 1976 Cluttons has established a strong real estate presence within the Middle East through a growing and integrated network of offices in the Arabian Gulf including Bahrain, Dubai, Sharjah, Oman and Jeddah.
“There is definitely keen interest among global investors towards the Middle East. We are confident that BFH offers an unmatched value proposition to them with an array of business and retail components under one roof,” Mr Bradley added.
The Financial Centre consists of three components – Dual Towers which are also the tallest towers in Bahrain, a Financial Mall and the Harbour House. The Dual Towers will provide office and commercial space for the financial services industry while the Financial Mall is designed specifically for capital markets and will house brokerage and trading firms.
