The Bahrain Financial Harbor (BFH) will be introduced to London investors at WaterfrontExpo on October 23, 2003.
Work is currently underway on BFH, which has been called the Canary Wharf of the Gulf, on a prime waterfront site in the heart of Manama, Bahrain. The two towers comprising the first phase are among Bahrain's tallest buildings. They will accommodate leading regional financial institutions alongside other international companies and a Financial Mall - site of a number of financial markets including the Bahrain Stock Exchange.
With zero taxation and overseas-friendly ownership regulations, Bahrain is a recognized regional base for international firms. Manama is host to more than 350 banks, insurance companies and other financial institutions, drawn by an open economy underpinned by international financial best practice.
The first tenants will move into BFH by the end of 2006 in advance of the December 2009 target date for completion of the entire project. BFH will comprise 26 individual developments, the first four of which will be released in early December 2003.
Only 20 of the 38 hectares will be built upon, leaving the remainder for public space, roads, a leisure resort, and a concert hall. Of the gross building area of 570,000 square meters, some 266,000 square meters will be allocated to residential space, 250,000 square meters to commercial and 54,000 square meters to retail.
Among the leading institutions to have signed letters of intent to relocate to BFH are Gulf Finance House, the Islamic investment bank, and Solidarity, the life assurance and long-term annuity Savings Company. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
