Development company nears completion on Bahrain Bay project

Bahrain Bay Development's waterfront project in Manama is approaching completion after a decade of work, according to updated forecasts from the project's developers.

The development already hosts Four Seasons Hotel Bahrain Bay, the global headquarters of Arcapita Bank and the United Tower, which will open this year.

Officials said they expect construction to begin this year on a 10-story residential complex, a Marriott hotel, the WAFRA residential complex and the 3.1-million-square-foot Bay City mixed-used development.

“We’re delighted with the current pace of development at Bahrain Bay,” Bahrain Bay Development CEO Gagan Suri said. “We’re happy to say that most projects are being developed ahead of the planned schedule. 2016 looks to be an exciting year for us as we see many investors complete their developments and others begin construction.”

The project also hopes to bolster its momentum this year through the arrival of several new tenants who are moving their offices to Bahrain Bay, including the insurance firm AXA Group and Al Baraka Banking.

“We are certain that the strategic partnerships Bahrain Bay has formed with the various local and international investors will deliver long-lasting results for all stakeholders,” Suri said. “The ongoing progress strengthens Bahrain Bay’s position as a major investment hub, adding significant value to the community and the future of Bahrain as a whole.”