On behalf of the Board of Directors, I welcome you to our site. As a stakeholder of First Bahrain, we invite you to interact with us here.
We sincerely appreciate the trust the Shareholders have placed in us and in turn we aspire to manage your resources with transparency and integrity.
We are committed to building upon the Company’s firm foundations which have helped it survive and grow through the tumultuous years since operations began in Kuwait in 2005 and later Bahrain in 2007.
We are very pleased to be reporting a profit in 2016, with a diversified and growing investment portfolio. We have a clean Balance Sheet and a strongly profitable subsidiary, the Majaal Warehouse Company. Developing and managing industrial facilities for SMEs, Majaal currently operates over 400,000 square feet of leasable area which is fully leased and generating rental income.
This past year we delivered our new neighbourhood retail center, El Mercado Janabiya, which is now fully leased and operating. On an adjacent plot, we are also building 42 villas for sale as part of the El Mercado Village.
The Company has a strong cash position and is moving forward on its other projects. I sincerely believe we have good days ahead.
As we work together towards a good future, may Almighty Allah grant us all sustained success and prosperity.
Waleed Ahmed Alkhaja