First Bahrain’s Majaal Warehouse, an SME-focused warehousing and logistics project at the Bahrain Investment Wharf, has won the Best Industrial Development at the 2009 GRE Awards for Excellence in Real Estate.

The award was given for Majaal‘s significant contribution to the development of the kingdom’s real estate and warehousing sector, as well as for the key role it plays in stimulating the economic growth of Bahrain, despite the global economic turmoil.

The prestigious award was presented as part of the 2nd Annual Gulf Real Estate Fundamentals Conference (GREF) 2009.

Majaal is a wholly owned subsidiary of First Bahrain, a regional real estate development company.

“Majaal is all about filling a real demand gap in Bahrain. It offers secure and cost effective storage solutions complemented with a wide range of value added services, and is designed to facilitate the business growth of the companies who call it home,” stated Amin Al Arrayed, general manager of First Bahrain.

This year’s GREF conference focussed on strategies for moving forward from the financial crisis, with individual sessions covering a number of critical topics such as construction, raw materials, economic impact, ecological impact, financial fundamentals, commercial space, industrial real estate and various other asset classes.

Majaal scooped the award for its flexible and modern warehousing spaces, strategically situated near the new Khalifa Bin Salman Port, which can be used solely for storage or as a combined office facility.-TradeArabia News Service