Bahrain Bay Barter

Talks are in underway between investors from China and Qatar, along with Bahrain Bay Development (BBD). Discussions are underway about the possibility of the company making land available for purchase in BBD’s $2.5b Bahrain Bay property project in Manama. Apparently, already 65 percent of land plots have been sold and now “investors [are] eyeing the remaining 35 percent.” BBD is in talks with Bahraini and Chinese investors too. At the end of this year, the rest of the land will probably be sold “on hopes that market conditions will be better.” The project is in the north of the capital of Bahrain.

It seems like the land is not going to be lying dormant for all that long. BBD has plans to sell it all within “the next two or three years at most.” Land sales only went on hold a few years ago in the “wake of the global financial crisis.” As well, there is currently a bid by eight firms which want the contract to construct the Four Seasons Bahrain Hotel, for $350m.

Also included in the Bahrain Bay development is a trade center Arcapita Bank’s building and a project from Singapore’s CapitaLand. Around 95 percent of the infrastructure for the project has already been completed and the rest will be done by August.

Asian Political Troubles

Political troubles in the region don’t fare well for business. That’s exactly what has been happening in the Gulf Arab island kingdom, which was “wracked by political violence, inspired by uprisings in Egypt and Tunisia.” There has also been substantial stress due to the “economic downturn,” but irrespective of this, Bob Vincent, the CEO of BBD insisted the Bahrain Bay project would be “moving forward as planned.”