Major retail firm leases space in Al Raya
Manama, September 17, 2009
Cluttons has secured another letting in Al Raya Building in Seef, with Saleco taking a lease on an office suite on the 6th floor.
Saleco is one of the largest retail and distribution companies in Saudi Arabia and has recently expanded its operations to Bahrain.
'We build, operate and manage retail shops, as well as provide logistics to a network of dealers and distributors,' said Saleco chief executive officer Nick Di Marzo.
'The Al Raya office will be our Bahrain head office and we will have about 50 people working there.
'We see Bahrain as being strategically very important for us within the region due to its location and accessibility.'
'We are currently receiving strong interest from Saudi Arabian companies looking to set up offices in Bahrain,' said Cluttons commercial leasing agent Catesby Paget.
'Saudi Arabia has been generally less effected by the recent economic turmoil than other countries in the region and Saudi-based businesses are seeing the current market conditions as an excellent opportunity to open offices in Bahrain at lower rates than they would have been paying a year ago.'-TradeArabia News Service