MANAMA: Manara Developments, a leading real estate development company, yesterday announced the commencement of the second phase of Investment Gateway – Bahrain, the kingdom’s biggest freehold project for light industries.

The second phase of the landmark project spans over 23 million square feet, with the overall development covering 29m sqft, Manara Developments said in a statement.

Great Lakes Drake and Docks Company was signed to undertake reclamation work for the second phase which will be completed in 18 to 21 months.

The engineering and technical team overseeing the project includes Bahraini firm Haj Gulf and AECOM Middle East.

The Investment Gateway – Bahrain is owned by Amar 1 Real Estate Investment Company, which is represented by Manara as a project developer.

Manara managing director Dr Hasan Al Bastaki said, “The second phase builds on the success of the first phase of the project and the increasing demand from investors. Great Lakes Drake and Docks has pumped 450,000 cubic metres of sand to the area to be reclaimed.

“Nearly BD100 million will be invested by the project’s owner to complete the second phase, which includes reclamation work, infrastructure like internal streets, electricity and water services.

“This is reflected in the confidence and strength of the Bahraini economy, particularly in logistics, light industry, handling and support sectors,” Dr Al Bastaki said.

“Studies and forecasts indicate significant growth in the next five years due to the kingdom’s facilities in this sector in line with the Economic Vision 2030.”

He pointed out that the project will provide about 1,600 investment plots of approximately 450sqm and 1,200sqm, with a great flexibility to integrate the plots according to the investor’s needs and the nature of his work.

“The second phase of Investment Gateway-Bahrain will make a major contribution to the national economy, with an initial investment of nearly BD500m, in addition to providing at least 9,000 to 10,000 jobs. The project provides free space for Bahraini entrepreneurs,” Dr Al Bastaki added.

The project is strategically located between Bahrain International Airport and Khalifa Bin Salman Sea Port, with a modern and sophisticated network of direct access to the main ports by land, sea and air.

It offers a complete package of integrated solutions for light industrial areas in Bahrain, following a study of the existing industrial zones and needs of industrialists in Bahrain.

The project, in its first phase, attracted local capital, which invested and owned light industrial, commercial and logistic plots with investments exceeding BD78m.

It attracted a number of major companies such as Ebrahim Khalil Kanoo, Yousif Khalil Al Moayad and Sons, Montreal Motors, Trafco Group, Ceramica Delmon, Bahrain Limo, Ramez Group, UCO Group, Mohammed Ali Zainal Abdullah, “Maza” Group and Phoenix Bahrain.

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