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.
For the second year in a row, we successfully delivered a retail project with the handover of the first Jarir Bookstore in the Kingdom of Bahrain. This build-to-suit project is now in fitout with an expected opening in Q3 2022. The project is adjacent to the El Balcón Mall, which began operations in December 2020 with the opening of its anchor, Starbucks, with 24/7 drive-thru service. Throughout the year, the mall came to life as 90% of the units were leased and 63% are now open and operating. The two-storey property, built around an open-air courtyard, features food and beverage outlets and a range of services including a dental clinic and men’s and ladies’ salons. The risks associated with developing and leasing a new project have been successfully managed and we are moving into a new season of rental income growth.
The company also marked a major milestone, moving into its own corporate offices located on the roof of the Jarir Bookstore building, from which the management is present and able to lead and direct current and future developments.
As we work together towards a good future, may Almighty Allah grant us all sustained success and prosperity.
Waleed Ahmed Alkhaja