Majaal inks new tenancy agreement
Manama, June 26, 2011
First Bahrain, an innovative real estate developer, said it has signed a new tenancy agreement with R Media Company, a leading marketing and advertising agency, for its flagship project Majaal.
A Bahrain-based company, R Media offers marketing and advertising solutions across the GCC region and boasts of a wide portfolio; including the management of two other subsidiary companies: Emirates House Publications and Prince Class Burger.
R Media has chosen the Majaal warehousing and logistics complex to house both its main office headquarters as well as its primary printing production center, said a statement from First Bahrain.
Inside its 2,700 sq ft of secure warehouse space, Majaal has installed a second floor for R Media to house their main offices. The rest of the unit supports the back office section, storing all utilities associated with production, it added.
Amin Al Arrayed, general manager of First Bahrain and managing director of Majaal Warehouse Company commented, said, “Further diversifying Majaal’s tenant base, we have signed yet another key agreement with one of Bahrain’s entrepreneurial success stories, R Media; a renowned and well-established local company."
"This collaboration demonstrates the versatility of Majaal and highlights how the warehouse space can be modified to meet specific tenant requirements. Affirming our commitment to supporting the local businesses and SME’s, I welcome R Media to our exclusive business community at Majaal,” he added.
Ridha Al-Nass, CEO and partner of R Media said, "As our business is growing and continuing to expand, we needed a secure, accessible and efficient space in which we can combine our offices and our production unit in one facility for better supervision."
"R Media is involved in a range of activities and Majaal’s facilities are ideal for managing our business more effectively," he noted.
Majaal, First Bahrain’s inaugural project, is located within the Salman Industrial City at the Bahrain Investment Wharf, providing easy access to Khalifa bin Salman Port and other major transport links in the Kingdom.
Majaal presently offers 130,000 sq ft of secure, flexible and cost effective storage space which has been designed especially to facilitate the Small and Medium Enterprises (SMEs) segment of the Kingdom’s industrial sector.
"Majaal has provided great support for a small but growing firm like R Media by giving us an opportunity to promote our services through their exhibitions, which is extremely important to us," remarked Nass.
"They also funded the cost of our office fit-outs and have included those costs in our rent," he added.-TradeArabia News Service