$1000 Giveaway

To all my readers,

I will be giving away a $ 1000 dollors to anyone who can send me the most wackiest pictures for any of my blogs. Ofcourse, this has to be related to the contents of my blog. I am posting this contest in all my blogs. Please send your mails with pictures to bobby.gab@inquisitiveworld.net

My blogs are listed below:

www.inquisitveworld.net
http://extremedubai.blogspot.com/
http://glooworm.blogspot.com/
http://facebookcrazy.blogspot.com/
http://guruoftechnology.blogspot.com/
http://indianchowk.blogspot.com/
http://bahrainproperties.blogspot.com/
http://arabianpropertyworld.blogspot.com/

I will post the winning pictures on my blog. I will contact the winner through email and will let you know how to collect the winning amount.

Thank you,

Administrator

Starwood Hotels & Resorts WorldwideStarwood Hotels & Resorts Worldwide

Starwood Hotels and Resorts Worldwide announced its plan to develop a St. Regis hotel in Bahrain, one of the most thriving travel destinations in the Middle East. The St. Regis Bahrain will be located on a reclaimed island facing Manama's City Centre. Scheduled to open in 2011, the 300-room hotel will introduce an unrivalled dimension of luxury services.

The announcement by many is seen a vote of confidence in the Kingdom's excellent investment climate and booming hospitality and tourism sector.

"We define St. Regis by our guests. Nothing less than an unrivalled dimension of luxury and bespoke service - from arrival to departure, and beyond - will be available," said Ross Klein, President of StarwoodStarwood's Luxury Brands Group.

"The thriving city of Bahrain engages visitors with its eclectic mix of mosques, markets, skyscrapers and casinos, creating a richly textured cosmopolitan setting perfect for our global St. Regis guests. From Bahrain to Buenos Aires, Mexico City to Macau, St. Regis is committed to designing custom-tailored guest experiences in the best addresses around the world."

Boasting five thousand years of history, Bahrain is one of most frequented destinations in the Middle East due to its rich archaeological treasures, natural beauty, and rapidly evolving contemporary culture. Reachable via two access roads, the reclaimed island will be located just to the west of Reef Island and less than a mile north of Manama's Seef, the capital's bustling, commercial district. Just a 15-minute drive from Bahrain International Airport, The St. Regis Bahrain will be close to both Bahrain Bay and the King Fahd Causeway - a 15-mile bridge connecting Bahrain with Saudi Arabia. Guests can explore a variety of nearby attractions including traditional and modern shops at Manama Souq, the Al Fateh Mosque and the Bahrain Grand Prix - the only Formula One race track in the Middle East.

The St. Regis Bahrain will offer an impressive range of facilities including four restaurants, a large spa, and more than 3,000 square feet of meeting and conference space. Following in the tradition of the legendary St. Regis Hotel, New York, The St. Regis Bahrain will offer a sophisticated, seductive ambiance, enhanced by meticulous design touches, fresh flower arrangement, exquisite cuisine and the renowned St. Regis Butler service.

Trained in the English tradition, the butlers provide ever-present yet unobtrusive service while anticipating guest needs and customizing each guest's stay according to his or her specific tastes and preferences.

Bahrain Tribune

Property Exhibition

Bahrain Society of Engineers (BSE), supported by the Bahrain Chamber of Commerce and Industry, will organise the fourth edition of the Bahrain International Property Exhibition 2007 (Bipex ‘07), at Bahrain International Exhibition Centre from November 28 to 30 under the patronage of Shaikh Khalid bin Abdulla Al Khalifa, minister of the Prime Minister’s Court. With
numerous exhibitors

from the real-estate, property-development as well as real-estate consultancy and financing sectors across the region and other nearby countries, the show is expected to offer visitors the full spectrum of services required to facilitate the process of real-estate investment. “Our aim is also to spotlight development in the Kingdom, bringing investors to Bahrain,” said Mohammed Khalil Alsayed, BSE president. “As part of the marketing strategy, we have already appointed many media partners, including newspapers, magazines and TV channels, for marketing this show within a wide spectrum of audiences. The last exhibition, last November, received about 8,000 visitors, and this time we are expecting a wider response from exhibitors and visitors from Bahrain, GCC and other parts of the world.”

Investment News

Bahrain-based International Investment Bank (IIB) yesterday announced the launch of a new $65 million property fund, which will invest in the development of land located within the Danet Abu Dhabi Master Development Project, in Abu Dhabi.

The new fund, IIB-Abu Dhabi Properties 1, will be 66.7 per cent owned by IIB, with the remaining 33.3pc owned by the UAE-based United Friends Company (UFC).

It will purchase two plots of land at Danet Abu Dhabi and will develop the land into a mixed-use, 21-storey twin-tower building.

One of the towers will comprise exclusively of offices, whilst the other will be a mix of office and residential units.

The building will also include shops and entertainment facilities, as well as car parking for 632 cars.

The office and residential units will be let initially and then sold.

The fund will exit from the investment within four years and is targeting an annual Internal Rate of Return (IRR) of 24pc.

"Both residential and office property markets have seen significant growth in Abu Dhabi and both markets are set to deliver future growth due to a number of factors, said IIB chairman Saeed Alfahim.

"Abu Dhabi's population growth, which is expected to grow by 6.9pc between 2006 and 2010, is driving a need for new housing units.

"Demand for state-of-the-art office units remains strong, and despite the upcoming supply, market projections indicate high demand and occupancy rates will continue in the coming years.

"Both office and residential markets have seen increases in property value as well as rent. Rental rates for the residential market in prime areas have increased by 22pc from 2005 to 2006.

"It is projected that residential rents are likely to rise at around 10pc to 12pc annually for the next three years. Equally, it is expected that commercial rents will increase by 10pc to 12pc annually for the next two years."

The government of Abu Dhabi has also introduced new policies aimed at driving further growth.

The Abu Dhabi Tourism Authority plans to double the number of tourists visiting Abu Dhabi to three million by 2015, which will encourage further expansion of real estate activity in the hotel industry and commercial sector in Abu Dhabi.

The government has also relaxed real estate ownership restrictions over the past few years, which has fuelled significant real estate activity.

Mega projects such as Al Raha Beach, Shams and Reem Island projects have already started, providing a much needed impetus for real estate activity in Abu Dhabi.

"We believe the Abu Dhabi real estate market offers the potential for superior returns for our investors," said IIB chief executive officer Aabed Al Zeera.

"With the recent strong trends in property valuations and rental growth in Abu Dhabi, and with these trends forecast to continue in both the office and residential markets, now is the right time to invest in a project such as Danet Abu Dhabi.

"Population growth, demand and government policy are creating an ideal environment for future growth.

"In addition, Danet Abu Dhabi will be one of region's best-planned communities and will meet the growing demand for sophisticated mixed-use projects. Its location close to downtown Abu Dhabi will also make it a very attractive investment."

The Al Rayhan Neighbourhood

A new BD14 million private housing project will be built soon in Shahrakan, near the Bahrain International Circuit (BIC).

The Al Rayhan Neighbourhood project is being spearheaded by Al Enma'a House for Real Estate and was approved by the Northern Municipal Council yesterday.

The new project will include 73 houses, eight four-storey apartment buildings, five three-storey apartment buildings and four commercial buildings.

It will also include a park for residents.

At yesterday's meeting, council chairman Yousif Al Boori warned fellow councillors against blackmailing investors into making charity contributions.

"The investor is already giving financial support to the Saddad Charity Fund and he is willing to do the same to the Shahrakan Charity Fund," said Mr Al Boori.

"There will be no conditions in the contract because we are not here to blackmail anyone.

"We want to encourage investors, not scare them, because most have started thinking that to have council approval for projects they need to pay us huge amounts of money."

Al Enma'a has just completed a similar project in nearby Saddad called Al Zahra Neighbourhood.

The Sunset Hills

A NEW $100 million (BD37.8m) project is to come up within the Al Areen Development Project, it was announced yesterday. The Sunset Hills project is to be carried out by the Abu Dhabi Investment House (ADIH) and the Kuwait-based Sorooh Investment Company. A $53m contract, to set up the infrastructure and undertake the main construction works at the landmark project, was also announced on the occasion.

The contract, awarded to Bahraini company Ahmed Mansour Al A'ali was signed by the ADIH chief executive Rashad Janahi and Ahmed Mansour chief executive Jalal Al A'ali.

Dheya Towfiqi Engineering Bureau is the project consultant, which will be managed by Bonyan International.

The mixed-use venture will be home to a self-sustained community featuring a mix of residential and commercial facilities such as luxury villas, town houses, terraced apartments, and apartment blocks for shops and residences.

"Scheduled for completion in 2009, Sunset Hills is strategically located in the Al Areen Development Project and offers breathtaking sunset views to its residents," Mr Janahi told a Press conference.

"It will cover approximately 200,000sqm at Al Areen's southern gateway, and its built-up area is over 44,000sqm."

He said once completed, it will be a distinguished location with unique components.

"It will include 300 residential units of villas, town houses, luxury apartments, multi-purpose buildings and a club house," said Mr Janahi.

He said the announcement was significant because it immediately follows the signing of an agreement to develop the Porta Reef project within the Reef Island.

Sorooh Investment Company chief executive Mohammed Bugais said as strategic partners, they will work together to achieve best returns for investors. Mr Al A'ali said Sunset Hills is the second project they are implementing at the ADIH, after The Lagoon.

"We are proud of this trust which demonstrates a real partnership for developing distinguished real estate projects in Bahrain," he said.

Mr Al A'ali said the company complies with the best quality standards and international specifications in all its work.

The ADIH is promoted by leading financial institutions, a group of prominent businessmen and investors from the Gulf region, mainly Abu Dhabi.

It focuses on the existing and emerging potential in private equity, corporate finance, real estate, asset management, investment placement, and has interests in managing initial public offerings (IPO's) and buying and selling domestic and international securities.

Al Areen Development is spread over an area of two million sqm near Al Areen Wildlife Park.

Major components of the development include the recently opened Banyan Tree Desert Spa and Resort - Al Areen, the Lost Paradise of Dilmun Water Park that will be inaugurated in the coming summer, Hotel Al Areen, Al Waha Resort, Downtown Al Areen, Sarab Al Areen, Oryx Hills, and Sunset Hills among other residential villages and entertainment and recreational facilities.

Information Availability

I have been updating my blogs from time to time, and i have realised that i need to keep it updated more often than my current rate. Though you will find that my blog contains information from most of the hottest properties around, you will be able to get more information with googles target oriented advertisements on my blogs, you will find these around my pages, please feel free to visit these pages for more information and details and other search possibilities if the information you find here is not relevant enough.

Thank you

Bahrain Financial Harbour

Bahrain Financial Harbour is one of the Middle East’s most exciting property developments and a natural extension of our heritage. The project has been designed not only to address every single need of the highly diverse international finance sector, but to extend much, much further.

The development covers an architecturally stunning 380,000 square metres of waterfront property, featuring high specification office space, both in design and leading technology, building luxury residential accommodation, together with retail, leisure and entertainment opportunities that our tenants, investors and visitors would naturally expect.

Cluttons LLP have been appointed as the main leasing, sales and marketing agent for the Financial Centre. The Financial Centre will dominate the Bahrain skyline and will be the Kingdom’s premier office buildings/towers providing over 120,000 sqm of prime office and retail space.

The Dual towers contemporary yet classic architectural sail designs are set at opposing angles to symbolise the directions of the original "entrance" to Bahrain which was crucial in pioneering its trading history.

On a clear day the building’s office tenants will be able to enjoy superb panoramic views of the island with glimpses of the Bahrain International Circuit to the south, the island of Muharraq to the east, the coastline of Saudi Arabia to the west and the Arabian Gulf to the north.

The Centre

• East & West Towers each offering 52 levels of office spaces
• 9 Storey Retail Mall with 4 levels of parking
• 3700 parking spaces
• Approximately 10 minute drive from Bahrain International Airport and 15 minutes from King Fahad Causeway.

Cluttons will be ensuring that the Financial Centre creates the right office environment for international or regional companies seeking top specification office and retail space. With professional building management, excellent facilities and the prestige of being based in a landmark tower, the Financial Centre offers the perfect choice for large, medium and small businesses with a flexible work environment.

Salient Features

• Office space in a shell form for interior fit-out by tenants starting from 160 sqm
• Possibility to combine offices to create larger areas
• Floor to ceiling height glass panels
• High tech working environment offering 3 categories of service levels

Office Facilities

Service Level Agreements (SLA) including:

• Prime office space
• Uninterupted power supply (UPS)
• Unique district cooling systems resulting in reducing electricity and maintenance costs and eliminating roof chillers.

Central Building Management Services

Per tenant billing based on area as opposed to blanket cost.
Value added services including lift call functions, lights and AC automation
Sophisticated security systems including CCTV and access control

Electricity will ultimately be provided to the Financial Centre from a number of substations, making the power supply 100% redundant

Chilled water for the Financial Centre’s airconditioning requirements will be produced at a remote chilled water plant for internal circulation and use for air-conditioning.

For more information please visit www.cluttons-me.com

Marina West

This phase of construction forms part of the second of five phases overall and marks a major milestone in the creation of the Kingdom's first and unique residential beachfront community set on Bahrain's tranquil west coast. The work is sub-contracted to Kary Foundations Company.

'The commencement of piling works marks an important and vital step for the Marina West construction process. It prepares the project site for subsequent foundation works and embeds the supporting structure for the towers,' said Eric Tromans, CEO for ReeMoon, Marina West Project Developer.

'Kary Foundations has an excellent history of projects in Bahrain, and their selection for this critical undertaking is based on their expertise and ability to deliver.'

Kary Foundations Co. has a proven track record in the Kingdom of Bahrain, and has provided foundation support to major real estate developments, government projects, marine slipways and individual high rise towers and is responsible for drilling more than 1,500 piles to an average depth of 13 metres. The piles range in diameter from 600 to 1,000 millimetres in order to provide the necessary foundational support for Marina West's 11 high-rise residential towers which will accommodate the majority of the development's 1,280 residences. The commencement of work followed a series of test drills, and is set for completion within a four month time frame.

Marina West is being constructed according to a 33-month program. This phase, which follows the completion of detailed architectural and structural design of the 11 towers, will create the foundations of the towers and equates to some 12 kilometres of drilling, with over 6000 cubic metres of earth removed from the site.

The third phase includes the construction of the superstructure of the towers, while the fourth and fifth phases encompass the construction of a two-storey 'podium' structure to provide car parking and commercial premises, and the completion of the marina and all remaining external works, respectively.

Marina West will be Bahrain's first and largest gated residential beachfront community to be located on the Kingdom's west coast. It comprises 345,000 square metres of residential, retail and leisure space. 1,280 luxury apartments, simplexes, duplexes and penthouse suites will be accommodated in 11 high rise towers and it will also offer a number of townhouses. More than 7,000 square metres of space will be devoted to a full range of leisure, recreation and entertainment facilities. Alongside these will be a marina, private beach, and an extensive high quality retail offering.

Marina West's 1, 2, 3 and 4 bedroom freehold apartments, duplexes, simplexes and penthouse suites range in size from 77 to 545 square metres. A variety of prices - which begin at BD 41,525 for a 1 bedroom simplex - enables a wide cross section of buyers from Bahrain and beyond to gain freedom and independence through the empowerment of home ownership and the development provides a compelling investment proposition for potential investors.

For more information please visit http://www.brownspropertiesbahrain.com

Al Areen Development

The unique Al Areen development that costs over $1 billion US Dollars and spread over an area of 2 million square meters furthers Bahrain's reputation as a friendly destination for family and health-oriented tourists. The development is a 35-minute drive from the Bahrain International Airport, 25 minutes away from the city centre of Manama and 20 minutes away from King Fahad causeway. It is adjacent to the Bahrain International Circuit (BIC), the Middle East's first ever Grand Prix circuit and the Al Areen Wildlife Sanctuary.

Drawing upon the wealth of Bahrain’s long and distinguished past, the Al Areen gives you an opportunity to experience the legacy of the country’s rich and varied history, while maintaining the comfort and convenience of modern living.

The mission of developments projects is to transform its distinctive desert location area into a diversified range of health, residential, hospitality and entertainment components. Major components of the development include the Banyan Tree Desert Spa and Resort - Al Areen, “The Lost Paradise of Dilmun” Water Park, Hotel Al Areen, Al Waha Resort, Oryx Hills, Downtown Al Areen, Sarab Al Areen and a number of residential villages, entertainment and recreational facilities.

Infrastructure

Infrastructure works at the Al Areen development site is on schedule to provide roads, electricity, telecommunications, water, landscaping and other essential services within two years. Al Areen is a large mixed-use residential development built over two million square metres in the southern region of the Kingdom of Bahrain close to the wildlife sanctuary. Al Areen is a US$1 billion, luxury, health, residential and family tourism development, nestling in an elevated desert setting and embracing a state-of-the-art "Lost Paradise of Dilmun" Water Park, the world-class Banyan Tree Desert Spa & Resort, five-star hotels, and a range of residential, commercial, recreational and entertainment facilities.

“Phase One of the earthworks has been completed for road network construction at the Al Areen development site. This will facilitate the incorporation and installation of all utilities, including drainage, water and electricity as well as the roads themselves in the next phase. The infrastructure is on a fast track schedule to provide the Banyan Tree Desert Spa & Resort and the "Lost Paradise of Dilmun" Water Park with services needed to begin operating by end of this year”.

Lulu Island

Reef Island, previously known as Lulu Island, is a man-made island being built on the coast of Al Manama, in the Kingdom of Bahrain. The BHD 450 million (US$ 1.2 billion) freehold development project will cover an area of 579 thousand square meters (6.23 million square feet) and be located close to the Pearl roundabout, along with being moments away from Abraj Al Lulu and the Bahrain Financial Harbour [BFH].

Reef Island is being designed in the shape of the number 9 and will contain 39 residential buildings with a total of 1,217 apartments with waterfront or lagoon views. It will also contain one residential tower, 49 beach chalets, 65 Arabian-designed villas, a 250 room five-star hotel, marina and yacht club, an aquarium, a medical center, a shopping mall, and a multi-function exhibition center.

Reef Island is being built as a joint venture between the Bahrain government and the Bahrain-based Mouawad Group Real Estate Development Company. The development was designed by Australian-based Spowers and Pentago.

Expected Completion Date - In 2010
Real Estate Developer
Mouawad Group Real Estate Development Company
Location - Al Manama, Kingdom of Bahrain

Latest News on Properties

MANAMA: Business deals worth millions of dollars have been achieved at gulfBID 2007.

Visitors from all over the world attended the three-day Gulf International Exhibition for Construction, Interiors and Furniture (gulfBID), which concluded yesterday.

It was staged at the Bahrain International Exhibition Centre (BIEC) by Hilal Conferences and Exhibitions and dmg world media.

The show, which has grown in size from 135 exhibitors to 190 this year, also saw several exhibitors unveiling new products, with others announcing expansion plans.

Danube Buildings Materials said it recorded close to $2.5 million in sales - the biggest ever in the show's two-year history.

"Our strong earnings in the exhibition reflect our ability to meet demands from major and emerging industries with high quality products and services," said company chairman Rizwan Sajan.

Dubai's Alomi clinched a $1m deal to supply hardwood for a hotel project in the King Abdullah Economic City of Saudi Arabia.

The wood, English Natural Oak, is to be supplied in three phases and the first consignment should reach the client by late this summer, said chief executive officer Walter Douglas.

The company will have to supply at least 20,000sqm of wood for the project, he added.

VDKF - the German Association of Refrigerating and Air-conditioning contractors - which made its debut at the gulfBID, announced plans to come back next year in a bigger way.

Yorick Lowin of VDKF said that the association is working on a proposal with the German Economic Ministry to cover the show under its banner, which will generate an incentive for German refrigeration contractors to participate at the show next year, said official Yorick Lowin.

"Also, once we get the funding from the ministry it will be possible for us as well to bring in more participants from the refrigeration sector and this could certainly double the size of our stand for 2008," he said.

Roszheldorstroy Construction Complex (RCC), a joint stock company of the Russian Railways, announced plans to make a foray into the construction sector of the Gulf markets through local partnerships.

"This is the first time that the company has contemplated the move to participate in projects outside Russian soil and thus sets the tone for other companies to push for projects within the GCC more actively," said a spokesman for the company.

RCC, which debuted at gulfBID this year, will kick-start its operations in Bahrain through its local partner GR Group, which will also function as RCC's representative in the GCC.

Qatar Steel, which participated at the show for the second time in as many years, doubled its stand size this time around.

"We are well poised to meet Bahrain's growing demand for quality steel, through a series of expansions - both at its Jebel Ali Free Zone facility and the Qatar facility," said head of marketing and communications Abdul Rahman R Al Muftah.

Saad Group made its debut at gulfBID, occupying the biggest stand at the show.

The company used gulfBID as a platform to exhibit its range of recent projects in Al Khobar including the renovation of its Saad Hospital and the unveiling of models of its 250-villa project.

Awal Acrylic and Fibreglass chose gulfBID to launch a new shower steam box, and was all praise for the event.

"There have been several enquiries both from Saudi Arabia and Bahrain for our range of bathtubs and hydromassage systems," said general manager Khalid Al Jasm.

Bahrain-based Ceramica Delmon Company said it would open a fifth showroom in the kingdom and a factory.

Knauf, a supplier of gypsum boards, announced plans to build a $75m factory in the UAE to produce ceilings, partitions, linings and encasements for the GCC countries.

Meanwhile, both exhibitors and visitors were unanimous in their praise for the show, saying that it surpassed the success of last year's event.

Zamil Steel said it had become a must-attend event.

"Although we are known the world over for our PEB and steel products, it is important for us to participate at local shows to maintain our leadership in the market. gulfBID has allowed us to just do that," said Hatem Turki, marketing manager, pre-engineered buildings division of Zamil Steel.

Debutant Mez Technik Air System Products rated the show as "excellent".

"This is our first year at gulfBID and we've had reasonable success. We could soon sign up a distributor for Bahrain soon," said sales manager Maik Schweikardt.

Mohammed Baite, colour consultant of Hempel Middle East (West), said he was "very, very impressed".

"The show is of international standards. The planning of the exhibiting space is well thought out, and the reason behind such a great response from visitors," he said..

Mr Baite said he never expected so many trade visitors from Bahrain, Saudi Arabia and Qatar.

"There had also been a steady stream of interior designers, architects and builders evincing keen interest in the exhibits," he said.

"Had the show not been so well organised, we would not have seen so many of them."

This year's show was the best yet, said dmg world media Dubai managing director Bernard Walsh.

"This year's event was certainly bigger and better than last year. We are pleased with the way gulfBID has come along this far," he said.

"This time round, we have had visitors from Italy, Cyprus, Russia and several other countries including Dubai and other important markets of the region, making it a truly international affair.

"Also there is a visible difference in the way the exhibitors have invested in their stands.

"We see a lot more design and involvement going into the stands than what we have seen last year and that is encouraging."

A new BD 30 Million Housing Project

The BD30 million, 336- apartment condominium project by Dadabhai Construction in the Tubli Bay area is almost finalised, Central Municipal Council vice chairman Abbas Mahfoodh said.

The project is expected to be completed in two phases. Phase I is expected to cost BD20 million and will comprise a block with 216 apartments. Phase II is expected to cost BD10 million and will have 120 apartments, Dadabhai Group public relations director Ramadan Mohammad Ali said.The project will have an area of 140,000 square feet, he said, adding that it was planned along the Mediterranean architectural style.About 56,000 square feet (40 per cent) of the project area is expected to be set aside for landscaping.

A Mediterranean architectural design ensures a perfect living in any climate and makes for open spaces without sacrificing on space.It will be the the first tourism project to come up in the Tubli Bay area after the cleaning and demarcation of the bay. Many multi-million dinar projects are in the pipeline.

Amwaj Islands

Amwaj Islands is a development built on a vision of returning waterside living to the people of Bahrain. Amwaj Islands combines residential, commercial and retail space in a 4sq/km community situated off the coast of Bahrain near Muharraq and just 15 minutes from the capital, Manama.

Amwaj will offer a combination of the most modern amenities and infrastructure embedded in a location which presents new horizons: aside the azur waters of the Arabian Gulf, fresh sea breezes and the buzz of a modern community with alfresco cafe life.

The BD 50-million Amwaj Islands Shopping Mall and associated hotel apartments are at the very core of the Fanar Resort area on the west coast of the Islands.

The Mall offers stunning vistas of the Marina from both its shopping levels, and is flanked by the Marriott Renaissance Bahrain Hotel on one side, as well as
an exclusive and deluxe chalet-style outes to Saudi-Bahrain Causeway, downtown Shopping boutique beachfront Resort on the other.

The salient features of the Amwaj Islands Shopping Mallinclude supermarkets (scheduled to open in of the main mall), department stores and flexible retail spaces, mulit-screen cinemas, ample car parking space, food court and Marina-front stand alone food

and beverage outlets, plaza and boardwalk access
to the Marina, beaches and adjoining hotels, attached multi-storey hotel apartment block with
246 apartments. Smart City environment with high-speed internet, IP telephony and full video services, convenient access routes to Saudi-Bahrain Causeway, downtown Manama, the airport, the Bahrain International Circuit, the Hidd Industrial Zone, and the Bahrain-Qatar Causeway.

The Amwaj Islands Shopping Mall will be set in a unique environment combining all the elements of a thriving urban community, located on a breathtaking waterfront island setting on the exotic Amwaj Islands. The Shopping Mall is expected to be completed
in 2008.

Villamar Harbour

The project has a completed value of US$ 450 million.

'Villamar at the Harbour' is the first residential development within BFH and was formally unveiled at a special launch event held at the Ritz Carlton Hotel & Spa - Bahrain. Honorary guests at the event included HE Shaikh Azzam Mubarak Al-Sabah, the Ambassador of Kuwait in Bahrain, HE Prince Turki Bin Talal and HE Prince Fawaz Al Saud.

Welcoming the launch of this new phase of BFH, Mr. Esam Janahi, Chairman of BFH, said,

'We are extremely pleased with the launch of Villamar at the Harbour, the first residential development within BFH and therefore a milestone achievement. We congratulate Gulf Holding Company for delivering such a stunning world-class residential product within the overall design philosophy of BFH.'

Mr. Faisal Al Mutawa, Chairman of Bayan Investment Company, a major shareholder of Gulf Holding, said, 'Bahrain has emerged as one of the most attractive real estate markets for investors in the region. Looking into the future it is very clear that the Bahrain Financial Harbour will be the focal point of the financial services industry in Bahrain and as such properties within it will be amongst the most prime real estate in the country.

'There is a clear need to provide residential accommodation of this quality within easy reach of the offices and facilities of BFH. We see this model operating successfully in other international financial centres such as Canary Wharf in London '

Commenting on the unique character of Villamar, Mr. Ahmed Al Ameer, Vice-Chairman of Gulf Holding said, ' We commissioned a highly regarded international firm of architects, NORR Group, part of Ingenium Group, one of Canada's largest design and construction firms, to create a superior and dramatic design for Villamar that would maintain the overall look of the BFH buildings.'

Located on a site of over 32,000 square metres, Villamar contains three design elements: The Twisting Towers, the Floating Villas and the Terraced Podium. Scheduled for completion in June 2009, the development will comprise a total of 494 one to four bedroom apartments, 54 villas and 6 penthouses. Facilities include a rooftop chairman's club, health club & spa, swimming pools, tennis courts and other recreational amenities. A boardwalk will host cafes, restaurants and other leisure facilities at the waters edge.

Elaborating on the design of Villamar, Mr. Yahya Jan, Design Director of NORR Group, commented, 'The three gently Twisting Towers are undoubtedly dramatic. They range in height from 47 to 57 floors, and are clad in blue-green tinted glass to reflect the natural color of the seas off Bahrain. These towers face the sea and provide wonderful views.

'The villas 'float' 4-storeys above the ground within a self contained building at the perimeter of the project. Supported by their own elevator towers these unique floating four to five bedroom villas feature double-height living spaces, balconies, and terraces with superb views of the boardwalk and the sea.

'The podium is a series of landscaped terraces dropping towards the sea featuring landscaped parks, pools and water walls. A health club and spa is located on the uppermost terrace providing unobstructed sea views. Parking for 1,800 cars is provided discreetly within the podium terraces.

'The Boardwalk will be a major public attraction, featuring indoor and outdoor cafes, restaurants and boutique retail spaces. The experience of the boardwalk includes shaded and air-cooled walkways, dancing water features and landscaped plazas.'

Mr. Al Ameer added, 'The launch of Villamar at the Harbour, along with our previous investment in the Downtown Al Areen development, brings Gulf Holding Company's total real estate investment in the Kingdom of Bahrain to US $ 900 million. Our focus over the next year or so is to complete these two large-scale developments in addition to identifying new investment propositions.'

May 2nd Opening of BFH

Manama, Bahrain, 2 May 2007: In one of the most eagerly awaited events of the region, His Highness Shaikh Khalifa Bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain today formally opened Phase I ‘The Financial Centre’ of the region’s first fully-integrated financial district, the US$ 1.5 billion Bahrain Financial Harbour (BFH).

The day long formal opening ceremony was attended by over 350 of the world’s leading Banking industry professionals, regulators and senior government officials from the Kingdom of Bahrain, in addition to other local, regional and international dignitaries. Furthermore, the event titled ‘Enterprising Bahrain’ included a high profile conference titled ‘Middle East Financial Services Summit’, held in association with the Financial Times Group, and a specially themed evening event. The formal opening of the Financial Centre by His Highness Shaikh Khalifa Bin Salman Al Khalifa was followed by an impressive high voltage spectacularly choreographed multi-media laser and fireworks show which artistically lit up the entire Harbour while bringing the Iconic Harbour Towers into the spotlight.

Commenting on the occasion, His Excellency Rasheed Mohammed Al Maraj, Governor of the Central Bank of Bahrain, said: “The region is witnessing a significant change on all fronts be it political, social and even economic. The financial sector in the region, of which Bahrain is a key driver, has also been undergoing a dramatic transformation, successfully emerging into a global financial centre. However, with the rapid growth being witnessed in the region the time is now ripe for the next big growth thrust in the sector, which currently is to some extent being limited by certain aspects of infrastructure and regulation.

“While, as the Central Bank of Bahrain, we are actively working on the regulation side in the Kingdom, it is developments such as the Bahrain Financial Harbour that we believe would play a large role in addressing the issue of meeting the complex and constantly evolving infrastructure needs of the sector,” His Excellency added.

Commenting on this momentous occasion, Mr. Esam Janahi, Chairman of BFH, said: “Bahrain has over the last couple of decades successfully gained the reputation of being the financial hub of the Middle East, driven by the forward looking and open market policies adopted by the Kingdom’s dynamic leadership and government and backed by the world-class regulation through the Central Bank of Bahrain and the Bahrain Economic Development Board. Furthermore, where the first half of this decade saw record repartition to the tune of US$ 1.5 trillion back into the region, the last couple of years has seen the trend being reversed with the emergence of Middle East as one of the leading global exporters of investments and the emergence of Islamic Finance, pioneered by the region, as a significant alternate to conventional banking globally.

“This has laid the ideal platform for the region to emerge as a leading global financial centre and Bahrain with its leadership position in both conventional and Islamic Finance, along with its advanced regulatory framework, strategic position and robust multi-lateral trade agreements including WTO membership and a FTA agreement with the USA is well placed to take significant advantage of this. However, there are some limitations in terms of relatively less developed capital and bond markets and the lack of world-class technologically advanced infrastructure that is to some extent restricting this progress. BFH was conceived with the aim of addressing these concerns, in the process significantly contributing to enhancing Bahrain and the region’s position in the global financial markets.

“As promoters of this landmark development which is the region’s most technologically advanced and first fully-integrated master-planned waterfront financial district, the formal opening of this project by His Highness the Prime Minister of Bahrain is a matter of great pride for us. We are confident that this milestone project will not just significantly impact the position and economy of the Kingdom but would also create large-scale employment opportunities for the highly educated and trained workforce of Bahrain,” Mr Janahi added.

The US$ 1.5 billion BFH was conceived as an integrated financial city, coming up on the Manama Corniche. Furthermore, spread over 380,000 square metres of prime seafront property, it aims at re-enforcing Bahrain’s position as the financial capital of the Middle East and further enhancing the attractiveness of GCC as a whole for global financial sector players.

Phase I of the project ‘The Financial Centre’, which is also the main business district, includes the Harbour Towers – Bahrain’s tallest towers - and the Harbour Mall. The Harbour Towers will provide prime office and commercial space for the financial services industry while the Harbour Mall will house high quality retail outlets and cafes, other leisure facilities as well as brokerage and trading firms. Additionally, development of Phase II of the project, the US$ 450 million Villamar @ the Harbour, which is also a key residential component, is well underway.

Elaborating on ‘Enterprising Bahrain’, Mr. Stephen Rothel, Chief Executive Officer, BFH, said: “I am delighted to say that every act in the official launch ceremony of the Bahrain Financial Harbour has been sourced from within the Kingdom of Bahrain. It is an incredible accolade for Bahrain’s performers to be able to put on a show of such quality and diversity – with the added passion in the performances that comes from knowing everyone involved in this historic occasion is representing their country.”

The full schedule of the event also involved a full spectrum of talent and abilities from traditional to contemporary being displayed. In addition to the light and fireworks display and the other acts, one of the most popular performances of the evening was by Bahrain’s Olympic gymnasts who are amongst the most accomplished sporting groups in the Kingdom.

Additionally, elaborating on the ‘Middle East Financial Services’, being jointly held by BFH with the Financial Times Group in association with the Bahrain Financial Services Development (part of Bahrain EDB), as part of the Enterprising Bahrain platform, Mr Rothel said: ”With over 350 of the world’s leading Banking professionals attending the event, the platform highlights the growing reputation of Bahrain as an International Financial Hub. Additionally, the event which was designed not just to truly reflect our core charter of positively impacting the region’s financial sector and positioning it as a world-class global financial center, also vindicates the immense response the project has received from the global financial markets. It is in this context that I would also like to highlight the fact that BFH has already received confirmed tenancy commitments from over many regional and global banks, financial institutions and retail houses.”

While the opening address at the Middle East Financial Services Summit was delivered by Stephen Timewell the Editor-in-Chief of The Banker, the welcome speech was delivered by Mr. Esam Janahi the Chairman of BFH, while Mr. Brian Caplen the Editor of The Banker introduced the keynote speaker Mr. Niall Booker the Chief Executive and Deputy Chairman of HSBC Middle East. Speakers and panelists at the event included high profile and influential leaders of both the regional as well as international Banking and Financial Service industry figureheads.

Issues discussed at the conference included subjects like ‘The Financial Regulatory Regime in the Middle East in International Context – Quo Vadis’, ‘The Place and Role of Islamic Finance in the Middle East’, ‘Serving Gulf Customers – Innovative Solutions’, ‘Hedge Fund Solutions for the Middle East – Looking Ahead’, ‘The use of Alternative Investments in Middle East Wealth Management Strategies’, ‘Corporate Governance – Achievements and The Way Forward’, ‘Gulf Capital Markets – The Road Ahead’, ‘Gulf IPOs – Looking ahead’, ‘Gulf Stock Markets in 2007 – The Fund Manager's Perspective’, and ‘The Future of Debt Capital Markets in the Gulf’, amongst others.

With a healthy mix of a dramatic high energy specially themed multi-dimensional laser and fireworks show, and a power packed financial sector focused knowledge event, the formal opening of the Financial Centre, most definitely, will remain one of the most memorable events in the Kingdom and region’s history.

Bahrain Financial Harbour Update

His Highness Shaikh Khalifa Bin Salman Al Khalifa the Prime Minister of Bahrain formally opens Phase I ‘The Financial Centre’ of the region’s first fully integrated financial district, the ‘Bahrain Financial Harbour’

BFH

Bahrain Financial Harbour (BFH) is a world-class, fully integrated waterfront development which will create a complete financial city, a self contained community, in the centre of Manama, Kingdom of Bahrain.

More Updates

Pearl Development and Real Estate Company have awarded BD2.1 million worth of construction related deals for its landmark Abraj Al Lulu project. The deals awarded through Al Hamad Contracting Company comprise procurement of lifts, pre-cast elevation panels and fire fighting installations.

Commenting on the deals, Dadabhai Construction director Pranay Thacker said the key agreements have come at a time when construction work on the project is progressing ahead of schedule. All deals and agreements have been signed and deliveries are expected to commence soon. He added, “More than 3m man-hours and 37 per cent of overall work on the Abraj Al Lulu towers have been completed".

Recently, the company also unveiled the Abraj Al Lulu mock-up apartments. The show apartments were designed by renowned interior decorators of international repute with modern as well as Arabic themes. Furthermore, the work on the mock-up apartments of the 40-storey Black Pearl, which boasts of three and four bedroom apartments, will soon be ready to be showcased.

Some things you should know about Abraj Al Lulu

The Black Pearl will redefine the way you live. As the most prestigious and sought-after residential address in Bahrain, it offers every element of luxurious living.
The Black Pearl brings the best of the best to create a lifestyle that matches and exceeds everything you have experienced before.

A grand reception, as spacious as it is luxurious welcomes you inside. High-speed elevators whisk you to your door amidst well-designed spaces. And as you enter, you will be greeted by a well-appointed living room with aesthetically designed spaces, embellished with the choicest of fixtures and fittings. Extra spacious bedrooms with gorgeous views, a family room, guest room, a maid’s room, and a spacious kitchen are designed to meet your needs in every way.

Plus excellent recreational facilities like exclusive squash courts, beautiful outdoor and indoor pools, lounge areas, and a state-of-the-art gymnasium and health spa, create a perfect world for you, right here in the heart of Bahrain.