Ebrahim Kanoo buys key plots at Manara project
Manama, May 25, 2013
Bahrain-based Ebrahim Khalil Kanoo, the exclusive distributor of Toyota & Lexus vehicles in the Kingdom, has purchased a set of plots at the new “Investment Gateway - Bahrain” project of Manara Developments Company in the Muharraq Governorate.
These plots will be used to build new maintenance and support service centers for Kanoo's operations, said a statement from the developer.
“We are proud that one of the leading and most influential family businesses in the Kingdom of Bahrain have chosen to invest in the “Investment Gateway – Bahrain project” shortly after its launch, remarked Dr Hasan Al Bastaki, the managing director of Manara Developments.
"This also emphasizes our confidence in this project being the first of its kind in the light industry and commercial estate market, while providing competitive prices in exchange for a number of value added features available to the owners in this project," he said.
Dr Al-Bastaki also pointed out that Manara had undertaken and developed this project after a detailed study undertaken by the company that is focused on offering uniqueness and excellence in the various aspects of light industries, commercial showrooms, and three story commercial buildings.
It also has shown a different creative approach which is highly demanded in today’s markets.
"With a company at the stature of Ebrahim K. Kanoo, renowned for its originality, leadership, and pioneering position in the automotive industry; it’s investment In this project is an indication of it’s great deal of confidence in the project," said Dr Al-Bastaki.
He stressed that the project continues to attract a great deal of leading industrialists and brands that are not only interested in investment, but to use the project premises as a main headquarters for exhibitions and other logistical services.
The project has been finely designed for light industry and trade not only within the governorate, which is currently undergoing major expansion in real estate and residential projects developments accompanied by an active commercial and industrial growth, but the entire Kingdom and even abroad.
This comes to support the Kingdom’s esteemed leadership, in which Bahrain becomes the first and preferred destination in the exhibition industry and services.
Manara had launched the “Investment Gateway - Bahrain“ project on May 7 during the Gulf Property Show 2013, under the patronage of his Royal Highness Prince Khalifa Bin Salman Al-Khalifa, the Prime Minister of the Kingdom of Bahrain.
One of the major facts of this project is its strategic location between Bahrain International Airport and Khalifa bin Salman Port, and the sophisticated transportation networks linking the main ports of the Kingdom; such as Bahrain International Airport, Khalifa Bin Salman Port, and the main highway leading to the King Fahad Causeway.
Dr Al-Bastaki also stressed that the option for property ownership, and the competitive pricing was another prominent driver of the remarkable demand and interest that the project retained since it was launched in the Gulf Property Show 2013.
It is the first industrial project in Muharraq that enables the investor to obtain ownership of the land with the ownership certificate in hand.
"Those properties are not subject to a limited period lease, as is the case with other industrial areas of the Muharraq Governorate. Moreover the owner has the choice to best utilize the property in whatever way is seen suitable to the land and the purpose of the investment," stated Dr Al Bastaki.
"Another important feature is its competitive pricing, as Manara aimed to provide the highest quality of services coupled with competitive pricing, of which promises great interest as the starting point of a promising future for industrial development in Bahrain," he added.-TradeArabia News Service
More Construction & Real Estate Stories
- 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
- Naseej inks deal to develop Bahrain projects