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First Bahrain appoints Protiviti for risk consultancy and quality management

First Bahrain, an innovative regional real estate developer, today announced the appointment of Protiviti’s member firm for the Middle East region as its internal auditors. Protiviti is the world’s leading internal audit and business consulting firm composed of experts specializing in risk, advisory and transaction services. The move to appoint Protiviti comes as part of First Bahrain’s proactive approach to risk management and quality control, measures that have resulted in the company maintaining strong financial performance despite the global economic downturn.

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First Bahrain announces contracting deal for USD 45 Million warehousing development at BIW

First Bahrain, an innovative regional real estate developer, today announced the appointment of Abdullah H. Al Darazi & Sons Co. as the main contractor for the construction of its warehousing project at the Bahrain Investment Wharf (BIW), which is conceived due to a clear shortage of quality warehouse space in the Kingdom, especially in the region surrounding the new Shaikh Khalifa Port.

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First Bahrain Supports Information Centre at Shaikh Ebrahim bin Mohammed Al Khalifa Centre for Culture and Research

First Bahrain Real Estate Development Co. (First Bahrain), an innovative real estate developer focused on demand driven projects, today announced its official sponsorship of the Information Centre in the Shaikh Ebrahim bin Mohammed Al Khalifa Centre for Culture and Research in Muharraq. The support is part of First Bahrain’s wider strategy to preserve and build on the Kingdom’s architectural and cultural history.

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First Bahrain and KFH-Bahrain sign Project Financing Deal

First Bahrain Real Estate Development Co. (First Bahrain) – a leading regional real estate developer– today announced it had closed on an Islamic project financing facility with Kuwait Finance House – Bahrain (KFH-Bahrain) to develop a USD25 million warehousing and logistics facility. The project will be located at the Bahrain Investment Wharf (BIW), strategically located near the new Shaikh Khalifa Port due to open in October 2008.

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First Bahrain Announces Impressive Financial Results for 2007

First Bahrain, a rising star among the region’s real estate firms, today announced the release of the company’s performance for 2007 ahead of their AGM. The 2007 figures released on behalf of the Board of Directors record a net profit of KD 4.85 million, a 29% improvement on the company’s performance in 2006.

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First Bahrain Signs Strategic Agreement with Kanoo Information Technology

First Bahrain Real Estate Development, a leading real estate developer with a paid up capital of USD 106,800,000, has signed a strategic partnership agreement with Kanoo Information Technology (Kanoo IT) to implement an information technology solution which will significantly enhance First Bahrain’s business operations and controls.