Majaal inks tenancy deal with Bahrain firm
Manama, March 25, 2013
Majaal Warehouse Company, an SME-focused warehousing and logistics provider, has signed a 10-year tenancy deal with the Abudawood Al Saffar Company, the Bahraini distributor for global and regional producers of fast moving consumer good (FMCG) companies such as Procter and Gamble, Clorox International, Campbell’s Soup Company, Agthia, Ulker, C-Food, Walkers International and Falconpack.
A leading provider of warehousing and industrial facilities to the SMEs, Majaal said the agreement was the largest one in the company's history.
As per the deal, Abudawood AlSaffar will occupy 75 per cent of a new 145,000 sq ft facility which will be built on land presently held by Majaal at the Bahrain Investment Wharf (BIW) in Hidd.
This signing follows the announcement of the new $13 million financing package arranged with BMI Bank to pay for the construction of both the remaining phases of Majaal's development.
Abudawood Al Saffar's selection of Majaal to develop their new distribution centre affirms Majaal's position as the preferred provider of industrial facilities in the Kingdom.
Speaking at the signing, Jihad Jrab, the general manager (Bahrain, Yemen & Pakistan) for the Abudawood Group, said these secure and flexible facilities, are complemented by the well-established professional support which Majaal delivers.
"These factors make these facilities ideal for our present and future logistics and distribution needs. These new facilities will add speed and efficiency to our service offering, hence allowing to achieve true excellence in customer service," he stated.
Majaal 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 Bahrain.
The company presently offers 130,000 sq ft of secure, flexible and cost effective industrial facilities for a SMEs representing a broad range of business activities.
Welcoming the Group, Amin Al Arrayed, the Majaal managing director said, “Further diversifying our tenant base, we are especially proud to now be associated with this prestigious organization, the market-leading distributor of globally recognized brands."
"We deeply appreciate the trust placed in our team by Abudawood AlSaffar, believing that we will deliver their facility on time and to specification, by the end of the first quarter 2014. We expect to deliver the facility early, just as we seek to exceed the expectations of all of our clients,
" he stated.
"We are looking forward to a very successful partnership," added Al Arrayed.
The key services at Majaal include 24 hours a day, seven days a week security, state-of-the-art information communication technology provisions, assistance on efficient design and use of spaces available from as little as 2,700 sq ft to as much as 10,700 sq ft. All this is in addition to professional facilities management, and onsite forklift rental and logistics support.-TradeArabia News Service
More Construction & Real Estate Stories
- Bahrain awards $5.8m project tenders
- Spinneys to set up distribution centre at Kizad
- Dubai unveils $300m hitech 'green' city project
- Deyaar plans $245m Dubai complex
- IFA unveils $272m Dubai mixed-use project
- CBRE tops Fortune’s most admired firms list
- Kuwait's real estate sales hit $1.1bn in Jan
- Dubai RTA awards $27m roads contract
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum