Thursday 19 April 2018

Cluttons leasing agent for Bahrain's Dragon City

Manama, February 12, 2014

International real estate agency Cluttons has been appointed by Chinamex as the official agent to lease the new multi-million dollar Dragon City retail project in Bahrain.

Located in the south-west corner of the Diyar Al Muharraq master plan development, Dragon City is a $3.2 billion mixed-use mega retail complex, reported the Gulf Daily News, our sister publication.

The gross floor area will be approximately 54,000 sqm with a total leasable area of 32,000 sqm, accommodating more than 790 retail units.

The concept is similar to the Dubai Dragon Mart in the UAE, offering wholesale/discount retail offerings to local consumers, trade consumers as well as tourists, said the GDN report.

Unlike conventional malls, Dragon Mart will cater to both the wholesale and retail consumer bases, offering retail space for lease to both Chinese and Bahraini business.

The project promoters expect it to attract customers from a variety of demographics, with a range of income profiles and nationalities looking to capitalise on Chinese and local products at wholesale price.

"With an expected annual footfall of one to two million visitors, coupled with the success Dragon Mart has had in the UAE, the retail units will be in high demand," Cluttons Bahrain head Harry Goodson-Wickes said.

"Dragon City's catchment area will extend to all areas of Bahrain, the Eastern Province of Saudi Arabia and neighbouring GCC countries," he stated.

The announcement was marked with a signing ceremony at the Capital Club, Manama, where Goodson-Wickes and Chinamex general manager Patrick Zheng Shuo, in the presence of Chinamax chairman Hao Feng, discussed the benefits of the collaboration.

"This deal is yet another key instruction for us in the Middle East property market," noted Goodson-Wickes said.

 "It enables us to collaborate not only with Chinamex but also with Diyar Al Muharraq, Kuwait Finance House Bahrain and other investors in the Gulf." Leasing is expected to start shortly.-TradeArabia News Service

Tags: Bahrain | Dragon City | Retail project |

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