MANAMA, BAHRAIN – 26 April 2016: Today at the grand opening of the Gulf Property Show, Kuwait Finance House – Bahrain (KFHB) and First Bahrain Real Estate Development Co. jointly announced a new project finance agreement which will fully fund the construction of the second phase of a USD30 million development in Janabiya.
MANAMA, BAHRAIN – 21 April 2016: First Bahrain Development Company will be introducing the El Mercado village, a residential community of the upscale neighbourhood market El Mercado, to visitors at the Gulf Property Show.
MANAMA, BAHRAIN – 15 March 2016: First Bahrain today announced their participation in Gulf Property Show, 2016. First Bahrain will be showcasing their neighbourhood retail centre El Mercado Janabiya. First Bahrain will also be launching an exciting new development at the show.
MANAMA, BAHRAIN – 09 February 2016: MASGO Ventures and First Bahrain today jointly announced the introduction of a new brand to Bahrain with the first branch of NKD Pizza soon to open at El Mercado – Janabiya.
McDonald’s Bahrain today announced the signing of their lease to open their latest drive-thru location within El Mercado Janabiya, the impressive new neighbourhood market created by First Bahrain Real Estate Development Co. The new McDonald’s branch will be their 20th branch in the Kingdom. It will also be the only drive-thru restaurant on the ground floor of the open-air retail centre which will also feature a mix of restaurants, cafes and shops on a beautifully landscaped elevated platform, offering scenic southern views in a vehicle-free pedestrian environment.
Alosra Supermarket and First Bahrain Real Estate Development Co. today announced the signing of the first lease for the impressive new neighbourhood market – El Mercado- Janabiya a project by First Bahrain. The new Alosra will be the anchor for the open-air retail centre which will also feature a mix of restaurants, cafes and shops on a beautifully landscaped elevated platform, offering scenic southern views in a vehicle-free pedestrian environment. The retail centre, at the corners of Avenues 27 and 79 and visible from the highway, offers quick and easy access to both neighbourhood residents returning from Manama and morning commuters headed to Saudi Arabia. Further supported by 160 covered car parks, it is expected to open to the public in Spring 2016.
First Bahrain, a leading Kuwaiti real estate development company, today announced a 10% share dividend, distributing KD 2,120,996 of its retained earnings proportionally amongst its shareholders. The distribution is the final step in the successful implementation of corporate restructuring effort which reset the paid up capital to KD 23,330,960. The company, founded in 2005, is one of the few developers to have weathered the 2008 global financial crisis with positive historical earnings.
With construction on their neighbourhood retail centre in Janabiya progressing smoothly to the 30% mark, First Bahrain Real Estate Development Co. today unveiled the branding for its new development which will henceforth be known as “El Mercado Janabiya.” The new identity, designed by local consultancy MM Brand, translates to “the market,” honouring the Spanish Mediterranean feel of the architecture while describing the centre as a place which will facilitate both community and commerce in a beautifully landscaped outdoor space.