Al Baraka set to move to new HQ
Manama, May 25, 2011
Al Baraka Banking Group is set to move to its new headquarters in Bahrain Bay, the construction of which is on schedule, said the banking group’s chief executive.
Adnan Ahmed Yousif was given a detailed explanation of construction works, which are going with ease due to the availability of all facilities offered by the government bodies concerned.
'We are very pleased for what we have seen today of the great efforts for the construction of this distinctive and unique of its kind architectural edifice, which is estimated to cost about $100 million,” Yousif said.
“Such efforts were not possible without the availability of atmosphere of stability and security in the Kingdom of Bahrain, in addition to the many facilities offered by the concerned official bodies, and full confidence in the performance of the national economy in the short and long term,” he added.
'The new headquarter of Al Baraka Banking Group is designed to meet the present and future needs of the Group,” Yousif continued.
“The choice of the Bahrain Bay for the construction of its headquarters stems from the belief of the vital importance enjoyed by the Kingdom of Bahrain as a financial and Islamic banking center both regionally and globally.”
In January, Al Baraka Banking Group awarded the contract for the construction of the group headquarters located in Bahrain Bay, to Arabtec Construction Company, a major contracting company.
Composed of two office towers (building A & B), the new office building will have approximately nine levels above ground plus a mezzanine level, with an approximate gross floor area (GFA) of 22,221 sq m in addition to four basement levels with an approximate GFA of 16,318 sq m for 365 car parks and facilities.
The gross development area is 38,540 sq m for the entire project of total 14 floors.
The two towers are joined by a podium and ground plaza level, while the upper floors are linked by a bridge way. On top of the podium the building complex is divided in two office towers: tower A designed for lease and tower B, the headquarter of ABG bank.
The office tower will comprise administrative offices for executives, technical employees and administrators. The podium levels consist of banking, retail, and a VIP reception area. – TradeArabia News Service
More Construction & Real Estate Stories
- India property group eyes Dubai market
- Kuwaiti real estate sales soar to $886m
- Emaar unveils first big project at Expo 2020 site
- EMart nets $20m from online auction
- Qatar Railways awards $32bn in contracts
- Top regional firms at Cityscape Riyadh
- Habtoor Leighton wins $395m Dubai tower deal
- Bahrain to scrap asphalt subsidies
- UAE bids to host 2018 tunnelling congress
- Bin Faqeeh top sponsor of Gulf Property Show