Bahrain-based Futurebank plans to develop Futurebank Tower in the Seef District, which, upon completion will serve as the bank's global headquarters.

The tower, a 19-storey commercial development, will have a gross floor built-up area of around 15,000 sq/m with construction cost upwards of BD5.9 million ($15.7 million).

This new development reinforces the bank's commitment to Bahrain and highlights Futurebank's intention to further the kingdom's reputation as a regional banking and finance hub.

'Since its inception, Futurebank has worked under the regulations set forth by the Central Bank of Bahrain to establish itself in Bahrain's thriving commercial banking sector,' said Futurebank project spokesman Hossein Rezaee.

The tower is designed by UAE-based ARC International.

Futurebank has appointed Al Dahiya Construction & Real Estate as the project manager for the tower.

'Al Dahiya is extremely pleased to be working for Futurebank and will be engaged in all aspects of construction work for Futurebank Tower,' said Al Dahiya Construction & Real Estate managing director Ahmed Yousif Ali.-TradeArabia News Service