Bahrain Marina Development Company, the master developer of Bahrain Marina, a waterfront project on Manama's eastern waterfront, has appointed CBRE Bahrain, a leading real estate asset manager, to operate and manage the retail units within the project along with developing a comprehensive leasing strategy that includes the optimal mix of brands, commercial area planning and occupancy strategies.
Spread over a 250,000 sq m area, Bahrain Marina features 128 retail units spread across high-end retail outlets, international restaurants, and famous cafes, as well as luxury residential facilities, a state-of-the-art marina, a marine club and a five-star hotel.
The project is one of the most prominent new waterfronts that are reshaping the shopping, tourism and entertainment scene in the heart of the capital Manama.
Under the agreement, CBRE Bahrain will manage the day-to-day operations of commercial facilities and develop an innovative leasing plan that includes tenant quality identification and commercial distribution map, balancing retail, hospitality and complementary services.
This appointment comes as part of Bahrain Marina's drive to attract the best global partners to ensure a high-end shopping and entertainment experience that enhances the attractiveness of the project as an integrated urban destination, attracting visitors from within Bahrain and the region, said the key developer.
Bahrain Marina Development pointed out that the appointment of CBRE Bahrain represents a pivotal step towards enhancing the commercial value of the components of the Bahrain Marina project, and laying solid foundations for a distinguished shopping experience in the kingdom, it stated.
Strategically located on the east coast of Manama, Bahrain Marina is an exceptional waterfront project being set at an investment of BD200 million ($527 million).
The project includes retail stores that include major brands, luxury restaurants, world-famous cafes and locally, in addition to a commercial complex, a yacht parking lot, and a vast marine club on an area of 3,200 sq m that offers recreational activities and marine programs that contribute to enhancing the tourism sector in the kingdom.
The project also provides a unique and distinguished accommodation experience for residents and visitors, including luxury freehold residential units, high-luxury hotel rooms, large green spaces, and high-end sports facilities, to achieve an active lifestyle that contributes to enhancing the quality of life, said the statement.
The global expertise enjoyed by CBRE, it stated, will contribute to attracting prestigious brands and providing a unique shopping environment that suits the aspirations of visitors and residents alike, through professional operational management and careful strategic planning that ensures the sustainability of Operation and diversity of brands, it stated.
CBRE Bahrain expressed delight at its partnership with Bahrain Marina on this vital project, which marks a milestone in the real estate development landscape in the Kingdom of Bahrain.
"We will harness our global expertise to deliver an integrated operational experience that enhances the attractiveness of the project. As the designated company to manage the day-to-day operations of commercial facilities, we are committed to supporting Bahrain Marina in providing a strategic and structured approach to the management of this project," said a company spokesman.
"We believe this will elevate the destination to attract leading global and regional brands, enriching the commercial offering and reflecting the unique identity of the project," he added.-TradeArabia News Service
