BIW Project Expansion Announced
First Bahrain, an innovative regional real estate developer announced the expansion of its warehouse project at the Bahrain Investment Wharf (BIW) in response to the increasing market demand for logistics warehousing, and commercial space for small and medium enterprises (SMEs). Being a forward-looking investor, First Bahrain has secured additional land within the BIW, which is the company’s inaugural project, taking the total land mass of the project to 716,000 square feet.
Upon completion the warehouse will offer approximately 200 units for lease, ranging in size from 800 square feet upwards. The first batch of warehouses is due to be delivered in 9 months, with the entire project due for completion in 18 months.
Amin Al Arrayed, General Manager of First Bahrain, commented: “Especially in light of the current economic situation, First Bahrain is pleased to be focusing on projects which support the real economy. This expansion is in response to sustained demand in the SME sector of the Bahrain market and the expansion of our project will substantially increase our logistics facilities, helping to address the Kingdom’s current shortage of warehousing.”
The warehousing development is a prime example of First Bahrain’s demand-driven investment approach, as well as its leadership in exploring untapped opportunities in Bahrain’s real estate market and its ability to differentiate its offerings. The development is progressing as planned, and it is raising the bar for industrial properties and warehousing compounds by developing modern warehousing space to cater for market requirements and increasing demand.
Mr. Arrayed added: “As First Bahrain prepares to break ground on its inaugural project, we affirm our commitment on delivering on promises and transforming concepts into a built reality. The increase in scale at the BIW will allow us to offer even more SMEs the chance to benefit from quality logistics facilities, which have been previously lacking in the Kingdom. Retailers and newcomers to the market – of which there are currently a high number – are dependent on warehousing and storage facilities, but there is also a wider need among other types of companies who requiring modern warehousing space.”
Designed by international engineering firm, Tebodin Consultants & Engineers the warehousing space will be divided into individual units with an option to combine units to accommodate larger tenants’ needs.
In addition to the physical warehousing space, the development will offer a range of value added services, including a 24/7 security service, state-of-the-art ICT provision, assistance on efficient design and use of space. The small to medium, modern and safe warehousing spaces can be used solely for storage, or as a combined storage facility / office, ideal for encouraging startups and smaller companies, and in allowing existing companies to expand.