Tameer to be first tenant at Majaal
Manama, January 28, 2010
First Bahrain has welcomed Al Khaleej Development Company (Tameer) as the first tenant in its inaugural warehousing and logistics project, Majaal.
Tameer will occupy its new storage facility at Bahrain's first small to medium enterprises (SME) focused warehousing and logistics facility located at the Bahrain Investment Wharf, next month.
Following the recent completion of phase one of Majaal, tenants will enjoy 130,000 square feet of secure and cost effective storage spaces designed to stimulate the business growth of its family of tenants.
' Tameer is a leading real estate investment, advisory and property development company in the Middle East and North Africa Mena region,' said First Bahrain general manager and Majaal Warehouse Company board member Amin Al Arrayed, who signed the leasing agreement.
'It is therefore fitting that they have chosen the region's first SME-focused warehousing and logistics company as the ideal provider of integrated storage solutions. We are looking forward to other companies following Tameer's lead and joining the Majaal family.
'Majaal has had significant interest from local, regional and international companies since its launch in October last year, which shows that there is still a high interest in terms of foreign investment into Bahrain, particularly in the industrial sector.
'The level of interest speaks to the demand driven investment approach which is at the heart of our projects, we identify a real need in the market and address it, rather than just looking for a quick return,' he added.
'Majaal's unique offering and SME-focus is in line with our values of innovation and our committment to contribute to the economic development of the communities we serve in,' Tameer chief executive officer Laith Al Memar said.
'The wide variey of value-added services, in addition to the flexible and modern storage spaces, prompted us to choose Majaal as the prefered warehousing and logisitc company. 'We are looking forward to move into the premises and utlise the facilities Majaal has to offer,' he added.-TradeArabia News Service