Arab Singing Sensation Majid Al Muhandis and Singer Waleed Al Shami to Perform at the Spring of Culture Festival

March 05, 2017

Manama: A stellar line-up of Arab music stars will be headlining the third week of the Spring of Culture, which is running for its 12th consecutive year. Arab singers Majid Al Muhandis and Waleed Al Shami will be performing on Friday 10th March at 8.30pm in Bahrain Bay.
Among Majid Al Muhandis’ greatest hits are “Waheshni Moot” and “Ouzkourini”, as well as “Nami Ya Ayni”, which is a collaboration with fellow Iraqi and previous Spring of Culture performer Kazem Al Saher. He has previously collaborated with several high profile composers, including Mohammed Abdo, Abdulla Al Ruwaished, Omar Abdul Lat, Sherine, Angham and Kuwaiti singer Nawal. Majid composed the Al Janadriya festival theme song in collaboration with composer Nasser Al Saleh and is also well known for his cover versions of legendary songs such as “Almijana” by Saadoun Jaber, “Qoom Darejni” by Ebrahi Al Abdulla and “Ya Atasha” by Saudi artist Salama Abdulla.
Born in the city of Baghdad, Iraqi composer and singer Waleed Al Shami studied at Baghdad’s Institute of Musical Studies, where he mastered playing the Oud. Al Shami then turned his attention to singing, and was shortly signed by Rashed Al Majed’s production company “Funoon Al Jazeera”. Al Shami’s first release was a duet with his friend and artist Fayez Al Saeed. Since then Al Shami has gone on to achieve greater fame with the 2008 release of his first studio album “Mousiebah”.
Majid Al Muhandis and Waleed Al Shami’s concert at the Spring of Culture 2017 has been organised by the Bahrain Economic Development Board (EDB) as part of its support to the annual festival. The Spring of Culture contributes significantly to Bahrain’s tourism sector each year, which is a key priority sector for the EDB as part of its development plans for the Kingdom.
The Gold Sponsors of this year’s festival are the National Bank of Bahrain, Huawei, GFH Financial Group, while Silver Sponsors include Bahrain Airport Company, Aluminium Bahrain (ALBA), Bank of Bahrain and Kuwait, DHL and Bahrain Duty Free. Additional support has been provided by the Bahrain Institute of Banking and Finance (BIBF), Investate, the National Oil and Gas Authority and Bahrain Maritime & Mercantile International (BMMI) and the embassies of Italy, Japan, USA and Mexico in Bahrain.
Tickets for the upcoming concert will be sold at the Spring of Culture stand at City Centre Bahrain Entrance Four and online at www.springofculture.org.
For the latest news and updates on events, follow the official Spring of Culture account @springofculture on Instagram, Twitter, and Facebook.
Full details of the Spring of Culture and its various activities are available on the website www.springofculture.org.
-ENDS-
For more information, please contact:
Economic Development Board
Telephone: +973 17589966
E-mail:NC@BahrainEDB.com
Notes to editors:
About Spring of Culture
The Spring of Culture is an annual festival recognised as one of the most significant cultural events in Bahrain. The festival is organised by the Bahrain Authority for Culture and Antiquities (BACA) in cooperation with the Economic Development Board (EDB), Shaikh Ebrahim Centre for Culture and Research, Al Bareh Art Gallery, Al Riwaq Art Space and La Fontaine Centre for Contemporary Art.
The Spring of Culture has offered up a multitude of exciting and distinctive experiences over the past twelve seasons. The annual festival has brought an array of talented artists from Bahrain, the Arab world and beyond, covering theatre, art, music, poetry and literature. The festival also includes a host of other cultural activities held throughout the Kingdom that highlight Bahrain’s rich heritage and unique cultural and historical landmarks, entertaining and educating local citizens and overseas visitors.

Bahrain Economic Development Board Establishes New Office in the Republic of Turkey

March 01, 2017

Manama: The Bahrain Economic Development Board (EDB) has today announced the establishment of a new office in the Republic of Turkey to strengthen economic ties and increase investment cooperation between the two nations. This step comes as a part of the EDB’s efforts to promote Bahrain’s business friendly environment internationally and attract investment.

The initiative follows a series of meetings with the Bahraini-Turkish Joint Commission in Ankara, which took place last year following His Majesty King Hamad bin Isa Al Khalifa’s visit to Turkey in August. During His Majesty’s visit, he met with President Recep Tayyip Erdoğan where they stressed the importance of strengthening bilateral relations as well as economic and trade cooperation between the two countries. This was followed by a visit from President Erdoğan to the Kingdom in February of this year.
The new office in Turkey will work to develop connections with Turkish businesses and focus on investments in economic sectors where Bahrain has strong competitive advantages and are in line with the EDB’s economic strategy. The office will be responsible for informing Turkish investors on the competitive advantages of Bahrain’s economy, including being amongst the most open economies in the MENA region, and how that provides opportunities for investment with prospective companies and global investors.
Mr. Khalid Al Rumaihi, Chief Executive of the EDB commented:
“The launch of an EDB office in Turkey is a direct result of the two countries’ agreement to enhance economic ties, which was made after the visit of His Majesty King Hamad bin Isa Al Khalifa to Turkey and the recent visit of Turkish President Erdogan to Bahrain. It also follows the directives issued by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, First Deputy Prime Minister and Chairman of the EDB, in which he calls for the development of economic relations between the two nations to be expedited, and for ambitions of investment cooperation to be translated into reality.
“The new office aims to increase communication with Turkish investors and will play a vital role in strengthening partnerships between the Bahraini and Turkish business sectors, identifying where the opportunities lie, and evaluating how to leverage the Turkish economy’s strength and position as an economic power in the region and the world. We are pleased to have seen substantial interest in our meetings with Turkish officials and investors to increase investment cooperation as part of Bahrain and Turkey’s longstanding friendship. “
The EDB focuses on attracting investment to the Kingdom to support sustainable economic growth and high-quality job creation.  The EDB works with the government and both current and prospective investors to ensure that Bahrain’s investment climate is attractive, to communicate its key strengths, and to identify where opportunities exist for further economic growth through investment.
The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages. These include financial services, manufacturing, ICT, tourism, logistics and transport.
Bahrain is home to 30 Turkish companies, including leading Turkish financial institutions such as Ziraat Bankası and Türkiye İş Bankası. The total trade between Bahrain and Turkey reached over $360 million in 2015, with traded products including textiles and textile products, chemicals, base metals, plastic and rubber products, leather products, and foodstuffs.
Agreements signed between Bahrain and Turkey include an agreement to avoid double taxation and a bilateral investment promotion and protection agreement. The Turkish-Bahrain Business Council and the Bahrain -Turkey Joint Economic Committee also cooperate on the two nations’ mutual interests.
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“Journey to the Planet of the Senses” brings dance and circus to the Spring of Culture

February 27, 2017

Manama: The Spring of Culture is proud to present the colourful and interactive kids dance show “Journey to the Planet of the Senses”, and the street theater Argentinian popup circus artist Edgar Groll, both starting Thursday 2nd March 2017 and running for three days.
Choreographed for an audience ranging from infants to eight years,  “Journey to Planet of the Senses” invites children on a journey through outer-space to discover intriguing aliens in a neon-clad world while learning about sight, hearing, taste, touch and smell.  Ballet meets a “Tron” like atmosphere with upbeat tunes that are futuristic and memorable.  The show inspires the discovery of science through whimsical imagery creating an exciting opportunity for early learners and their families.  The children are invited to participate in creative movement and imaginative play with the dancers.
“Journey to the Planet of the Senses” will play for three days beginning Thursday, 2nd March with a single show at the Alumni Club in Adliya at 5pm and followed by three shows daily on Friday and Saturday at 10:30am, 3pm and 5pm at the same venue. Tickets for the event will be sold at the Spring of Culture stand at City Centre Bahrain Entrance Four and online at the festival’s official website www.springofculture.org.
Argentinian circus artist Edgar Groll combines humor and fantasy in his shows and dazzles his audience by spinning balls at incredible heights and cycling on the tiniest bike in the world, among many more tricks designed to suit all the family.
Edgar Groll’s shows will be free and will run for three days, commencing Thursday 2nd March with a single show at the Riffa Palms next to Riffa Views International School at 3:30 pm and followed by two shows each day on Friday and Saturday at 4pm and 6pm in Amwaj Lagoon, Dohat Arad, Prince Khalifa bin Salman Park (Hidd) and Amwaj Lagoon respectively.
Running for the 12th year, the Spring of Culture is an annual festival that is widely recognised as one of the most significant cultural events in Bahrain, which hosts prominent international artists from around the world from February to April.
The “Journey to the Planet of the Senses” and Edgar Groll performances have been organised by the Bahrain Economic Development Board (EDB) as part of its support for the annual festival. The Spring of Culture contributes significantly to Bahrain’s tourism sector each year and tourism is a key priority sector for the EDB as part of its development and diversification plans for the Kingdom.
The Gold Sponsors of this year’s festival are the National Bank of Bahrain, Huawei, GFH Financial Group, while Silver Sponsors include Bahrain Airport Company, Aluminium Bahrain (ALBA), Bank of Bahrain and Kuwait, DHL and Bahrain Duty Free. Additional support has been provided by the Bahrain Institute of Banking and Finance (BIBF), Investate, the National Oil and Gas Authority and Bahrain Maritime & Mercantile International (BMMI) and the embassies of Italy, Japan, USA and Mexico in Bahrain.
For the latest news and updates on events, follow the official Spring of Culture account @springofculture on Instagram, Twitter, and Facebook.
Full details of the Spring of Culture and its various activities are available on the website www.springofculture.org.
-ENDS-
For more information, please contact:
Economic Development Board
Telephone: +973 17589966
E-mail:NC@BahrainEDB.com
Notes to editors:
About Spring of Culture
The Spring of Culture is an annual festival recognised as one of the most significant cultural events in Bahrain. The festival is organised by the Bahrain Authority for Culture and Antiquities (BACA) in cooperation with the Economic Development Board (EDB), Shaikh Ebrahim Centre for Culture and Research, Al Bareh Art Gallery, Al Riwaq Art Space and La Fontaine Centre for Contemporary Art.
The Spring of Culture has offered up a multitude of exciting and distinctive experiences over the past twelve seasons. The annual festival has brought an array of talented artists from Bahrain, the Arab world and beyond, covering theatre, art, music, poetry and literature. The festival also includes a host of other cultural activities held throughout the Kingdom that highlight Bahrain’s rich heritage and unique cultural and historical landmarks, entertaining and educating local citizens and overseas visitors.

Bahrain EDB kicks off 12th Spring of Culture with performances by Groove Onkels

February 21, 2017

Manama – Economic Development Board, 21st February 2017: Bahrain’s 12th Spring of Culture will kick off tomorrow (Thursday 23rd February), with an energetic musical performance by the German group Groove Onkels. The band will be performing throughout the weekend, the first of four street performance acts this season.
Groove Onkels’ debut performance in Bahrain will take place on Thursday at 4pm, at the Nakheel Center in Saar. The show will be followed by an open invitation “Bucket Drumming” workshop, led by the band itself, in which young and old participants can learn from the masters how to create rhythmic beats from random objects.
On Friday 24th, the Groove Onkels’ will perform in the Khalifa Al Kubra Garden in Riffa at 4pm, followed by a performance at 6pm in the Prince Khalifa bin Salman Park in Hidd. The band will finish the night with another performance at Block 338 in Adliya, starting at 8pm.
On Saturday 26th the band will perform another three shows at Seef Mall in Seef District, at 11am, 4pm and 7:30pm.
The performances are themed around recycling and environmental awareness, using only jumps, kicks, slaps and throws to create great beats with household objects. Entrance to all of these family friendly performances is free of charge.
Groove Onkels’ shows at the Spring of Culture 2017 have been organised by the Bahrain Economic Development Board (EDB) as part of its support to the annual festival. The Spring of Culture contributes significantly to Bahrain’s tourism sector each year and tourism is a key priority sector for the EDB as part of its development plans for the Kingdom.
The Gold Sponsors of this year’s festival are the National Bank of Bahrain (NBB), Huawei, GFH Financial Group, while Silver Sponsors include Bahrain Airport Company, Aluminium Bahrain (ALBA), Bank of Bahrain and Kuwait (BBK), DHL and Bahrain Duty Free.
Additional support has been provided by the Bahrain Institute of Banking and Finance (BIBF), Investate, the National Oil and Gas Authority and Bahrain Maritime & Mercantile International (BMMI) and the embassies of Italy, Japan, USA and Mexico in Bahrain.
For the latest news and updates on events, follow the official Spring of Culture account @springofculture on Instagram, Twitter, and Facebook.
Full details of the Spring of Culture and its various activities are available on the website www.springofculture.org.
-ENDS-
For more information, please contact:
Economic Development Board
Telephone: +973 17589966
E-mail: NC@BahrainEDB.com
Notes to editors:
About Spring of Culture
The Spring of Culture is an annual festival recognised as one of the most significant cultural events in Bahrain. The festival is organised by the Bahrain Authority for Culture and Antiquities (BACA) in cooperation with the Economic Development Board (EDB), Shaikh Ebrahim Centre for Culture and Research, Al Bareh Art Gallery, Al Riwaq Art Space and La Fontaine Centre for Contemporary Art.
The Spring of Culture has offered up a multitude of exciting and distinctive experiences over the past twelve seasons. The annual festival has brought an array of talented artists from Bahrain, the Arab world and beyond, covering theatre, art, music, poetry and literature. The festival also includes a host of other cultural activities held throughout the Kingdom that highlight Bahrain’s rich heritage and unique cultural and historical landmarks, entertaining and educating local citizens and overseas visitors.

EDB Brings in BD 106 Million of Investments in 2016 – More than 1,600 jobs to be generated over the next three years

February 19, 2017

Manama, 15 February 2017: In 2016, 40 new companies invested a total of BD106 million in Bahrain, as a result of the efforts by the Bahrain Economic Development Board (EDB). These new companies are expected to generate a total of 1,647 jobs opportunities over the next three years.

The companies represent regional and international organisations, including companies from India, China, the United States, and Germany among others. 17 companies specialise in manufacturing and logistics, 7 in financial services, 7 in leisure and tourism, 7 in professional services and 2 in information and communication technology.
In terms of investments, the tourism sector attracted 75% of total investments whilst the manufacturing and logistics sector accounted for 15%, and the financial services sector a further 9%.  As a result, the total amount of investment attracted last year was double that of 2015, which stood at BD53.6 million invested by 22 companies.
Mr. Khalid Al Rumaihi, Chief Executive of the EDB said:
“We are proud of what has been achieved during 2016. Our success in doubling the investments during last year comes as a result of unifying our efforts with various government bodies to ensure Bahrain is truly business friendly.
“Today, investors in Bahrain enjoy an attractive business environment that offers cost-effective operations, advanced physical and soft infrastructure, as well as the abundance of an experienced bilingual workforce.”
One of the companies attracted by the EDB includes Armacell, a world leader in flexible insulation foams for the equipment insulation market, and leading provider of engineered foam. The company plans to invest around $16million (BD6million) on its new plant at Bahrain International Investment Park (BIIP), which will produce elastomeric rubber insulation for the US$3 billion heating, ventilating, and air conditioning (HVAC) market in the GCC.
Furniture giant IKEA also announced its $124.8 million (BD48million) investment to establish its largest flagship store in the Gulf, covering a total area of 37,000 sqm.
Various other companies including CIMC, Euroscot, Mukta A2 Cinemas, Ziraat Bank, Mastercard, Amazon Web Services and Palestine Investment Bank Bahrain have also established new investment projects in Bahrain.
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Notes to editors:
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.
The EDB works with the government and both current and prospective investors to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.
The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.
For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com
Follow us: @BahrainEDB
Contact
May Taher, Bahrain Economic Development Board
Tel: +973 17 589 972
Email: internationalmedia@bahrainedb.com

With support from the private sector 12th Spring of Culture launched at a press conference in Qala’at Al-Bahrain Museum

February 15, 2017

The Bahrain Authority for Culture and Antiquities and the Economic Development Board held a press conference today (Wednesday, February 15, 2017) to officially launch the 12th edition of the Spring of Culture. A number of private sector organizations and foreign embassies are supporting and participating in this annual event, which will run for two months from February to April 2017.

The festival comes as part of the Bahrain Authority for Culture and Antiquities’ year-long celebration of the archaeological heritage of the Kingdom of Bahrain for the year 2017 held under the slogan “Our Year of Archaeology”. Adopted when Manama was the Capital of Arab Tourism back in 2013, the starting date of the festival coincides with the occasion of Arab Tourism Day on February 25, which commemorates the anniversary of the birth of the famous Arab traveler Ibn Battuta.
The festival is jointly organized by Bahrain Authority for Culture and Antiquities, the Economic Development Board, and Shaikh Ebrahim bin Mohammed Al Khalifa Center for Culture and Research, and in collaboration with Albareh Art Gallery, Al Riwaq Art Space, and La Fontaine Centre of Contemporary Art.
Gold Sponsors of this year’s festival are GFH Financial Group, Huawei, and the National Bank of Bahrain; while Silver Sponsors include Aluminum Bahrain (ALBA), Bahrain Airport Company, Bahrain Duty Free, Bank of Bahrain and Kuwait, and DHL and with additional support from the Bahrain Institute of Banking and Finance, Investate, the National Oil and Gas Authority and Bahrain Maritime & Mercantile International (BMMI). The festival events were also made possible by contributions from the embassies of Italy, Japan, USA, and Mexico in Bahrain.
Commenting on the announcement, President of BACA, HE Shaikha Mai bint Mohammed Al Khalifa: “The program of the festival is numerous that we simply cannot compress the events into just a single season, so each year we engage once more with our cultural audience with a diverse range of top-class global and local shows and events featuring leading performers and cultural figures.”
“As we celebrate our 12th anniversary, we grow ever-confident of culture’s capabilities and positive impact. We also are mindful that by telling the many stories of success over the course of our history through our archaeological monuments, we can bring joy to our communities and instill a sense of pride in our identity and heritage, while at the same time promoting the best of what Bahrain has to offer, ” Shaikha Mai added.
“We express our sincerest gratitude to our partner the Economic Development Board for their belief in the importance of the cultural movement and its role in the advancement of communities and its economy. We also thank all the private sector organizations and embassies who are participating in this year’s Spring of Culture Festival, a reflection of their commitment to be actively present in Bahrain’s cultural movement.”
In his comment, Economic Development Board CEO Mr. Khalid Al-Rumaihi noted, “The Spring of Culture Festival demonstrates how to connect and develop private sector investments in culture in order to highlight Bahrain’s openness to other world cultures since ancient times. These efforts are in line with the Economic Development Board’s objective of supporting tourism as it is an important and growing sector that has significant competitive advantages and tremendous development and job creation potential.”
“The continued success of this festival is owed in large part to the generous support of the private sector and partnerships formed between public and civil bodies, all of which work to make Bahrain a leading platform for outstanding Bahraini talents and prominent figures in the areas of thought, culture, and art.”
The audience will enjoy a diverse array of exceptional events and magical evenings that cover everything from archaeology to culture and art, starting with the timeless love story of “Antar and Abla” in a brilliant historical opera production at the Bahrain National Theatre, which is produced by Opera Lebanon. The theatre’s lobby also houses stunning visual artworks taking part in the 43rd Bahrain Annual Fine Arts Exhibition.
A who’s-who lineup of Arab and international singers will also perform in the festival, including soprano trio Musica Scotto Le Stelle’s concert “Music Under the Stars” at La Fontaine on March 9, Chelsey Green and the Green Project Ensemble at the Cultural Hall on March 17, acclaimed Mexican guitarist Paco Renteria on April 6 at the Cultural Hall, English Blues singer Dana Gillespie on March 31 at La Fontaine, and chart-topping English band UB40 featuring Ali Campbell, Astro and Mickey Virtue on March 31 at Bahrain Bay.
Featured Arab singers include Majed Al Muhandis and Waleed Al Shami on March 10 at Bahrain Bay, Palestinian artist Omar Kamal on March 17, Syrian artist Bashar Zarkan on March 20, and Mo Zowayed & Majaz Band on March 18 at Bahrain Bay. Moreover, the audience will be treated to a wholly unique audio experience featuring workers of the Bahrain National Quarry on March 9.
Families will be given a variety of shows to choose from, as the festival features an array of international performances by professional artists in various venues across the Kingdom of Bahrain. These include Groove Onkels, a percussion band that does not use actual musical instruments, as well as the amazing acrobatic lighthearted dance extravaganza of Tap Factory. Another not-to-miss show is the magic and sleight of hand of Argentine Edgar Groll, and the Canadian theatrical production Journey to the Planet of the Senses. Moreover, the audience can enjoy the incredible Indian acrobatic art of Pole Mallakhamba, the marvelously diverse soundtracks of the contemporary circus act Traces, and the fun interactive Bahraini children production A Tale or Two for Alef.
The Spring of Culture Festival also features leading Arab and international public figures in a series of talks held in cooperation with the Shaikh Ebrahim bin Mohammed Al Khalifa Centre for Culture and Research. The intellectuals, media and literary personalities include Saudi broadcaster and journalist Dawood Al-Shirian, Tunisia’s former Minister of Culture Sonia M’barek, Lebanese writer and editor Fares Youwakim, Lebanese writer Ivana Marchalian, Joshua David, Palestinian poet Ehab Bseiso, pioneering Palestinian artist and writer Raeda Taha, and American-Egyptian writer and Director of London-based International Institute for Strategic Studies’ Middle East and Gulf Security program, Mamoun Fandy. In addition, a number of lectures and seminars about photography, food culture, and Ancient Tylos-Period statues will be held as part of the festival, as well as lectures by French archaeologist Dr. Pierre Lombard and Bahraini researcher and writer Dr. Abdullah Al-Madani.
BACA will also inaugurate a number of important cultural infrastructure projects such as Dar Al-Riffa Al-Oda in East Riffa and Al-Maktaba Al-Khalifiya in Muharraq. A number of sites of historical significance will also be highlighted, such as Al-Khamis Mosque, whose status as the most important Islamic archaeological site in the Gulf region will be highlighted as part of a major conference on Islamic Archaeology to be held in the Bahrain National Museum, as well as celebrating the deep-rooted heritage of Bab Al-Bahrain’s gold industry. The festival will also showcase Bahrain’s intangible heritage of seafaring chants and folk music with weekly concerts by the Mohammed bin Faris Band and Fjiri music at Dar Al-Muharraq.
The slated art and culture exhibitions will open new horizons for visitors into different worlds and perspectives, such as the collaborative  “Out Of Time” exhibit which brings together 20 artists from around the world, “Two Architects Two Visions” featuring the works of a Saudi-Italian pair of artists, and  “The Selfless Holy Ground” Exhibition which depicts the contradiction between the spiritual and religious connotations of sacred rituals and human nature, as well as an exhibition on the UNESCO World Heritage-inscribed “Pearling Path” and “Do You Trust Me?” photography exhibition.
Fans of the seventh art will enjoy a selection of films during the Japan Film Festival, a special event within Spring of Culture organized in collaboration with the Japanese Embassy and the Japan Foundation in the Kingdom of Bahrain. Moreover, the festival includes a showing of the film The Pearl Diver that chronicles the history of the natural pearl divers in the Arabian Gulf nations, as well as other memorable movies.
Opportunities also abound for the public to take part in a large number of educational programs and workshops, such as the “How to Make Pearl Jewelry” workshop which follows the path of the pearl over a 3-kilometer open-air museum in Muharraq, and “My Dish, My Gift” cooking workshop, which precedes the launch of the second edition of the book “Food is Culture”. As part of BACA’s year-long celebration of Bahrain’s archaeological heritage in 2017 under the slogan “Our Year of Archaeology”, the children-focused workshop entitled “Enkiru’s Journey Through the Ages” will help to foster the spirit of belonging and devotion through a historical account about the civilizations which once inhabited this land.
The workshop series also include a pair of workshops on the art of carpet making and silversmithing, with the objective of supporting the revival traditional crafts that were once widely practiced in Bahrain, as well as several other educational workshops.
Updates and latest news about the activities taking place are available on the festival’s official channel @springofculture on Instagram, Twitter, and Facebook. The full festival program details are available on www.springofculture.org
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Real estate transforms Bahrain’s landscape

January 25, 2017

Bahrain’s real estate continues to offer potential for attractive returns. According to CBRE, a leading commercial property and real estate services company, development and diversification of land use has increased. Its Q3 2016 Bahrain MarketView Report noted an 11% rise in transactions, with developer confidence fuelled by government-funded infrastructure and key masterplan projects.
Bahrain Economic Development Board Supports Further Growth
 
The Bahrain Economic Development Board (EDB) recognizes the value in enhancing the growth prospects of the real estate sector through its various initiatives. EDB is increasing collaboration among key real estate stakeholders and the sector through a series of developer roundtables. Attended by representatives from both public and private organisations, these aim to encourage greater integration between real estate and tourism in order to deliver a sustainable offering.
Following on from the roundtables, the EDB is creating an online national tourism asset and project mapping system that will help potential investors and real estate developers track opportunities within Bahrain.
The EDB is also committed to improving legislation to speed progress within the sector. It is working with the Bahrain Legislation and Legal Opinion Commission to strengthen the regulatory framework and has recently introduced escrow accounts to increase consumer protection and enhance liquidity.
In addition, the EDB backs significant events such as Cityscape Global, the largest, most influential real estate investment and development event for emerging markets, and BIPEX Bahrain, the Kingdom’s leading annual event for investors, builders and buyers.
Latest real estate successes
These fresh developments show just how fast Bahrain’s real estate sector is moving forward:
IKEA Bahrain recently held the ground breaking ceremony for its Bahrain store, which at 37,000 square metres will be their largest in the GCC. Set to open mid-2018, IKEA Bahrain expects to receive more than 1.2 million visitors annually and real estate developers will undoubtedly benefit from residential and commercial projects needing affordable furnishings.
US$ 1 Billion worth of developments were announced by Bahrain Real Estate Investment (Edamah). These include waterfront developments in Muharraq and Hawar as well as themed retail strips around the Kingdom.
Bahrain’s first Real Estate Investment Trust (REIT) has been authorised for issuance by Eskan Bank. With low entry (around USD 1,325), the new REIT is designed to encourage private sector participation and enhance liquidity. Bahraini and GCC individuals and institutions can earn rental income across diversified assets. This will greatly enhance transactions, liquidity of the assets along with enhancing exit options for investors.

Bahrain presses home financial services leadership

January 25, 2017

Events from October 2016 to February 2017 underline the pre-eminence of Bahrain in regional and global finance.

World Islamic Banking Conference (WIBC) Bahrain 5-7 December
Now in its 23rd year, the WIBC is an invaluable opportunity for business leaders to stay abreast of important issues and developments in Islamic Banking and Finance.
In the context of this year’s theme, ‘Economic Uncertainties: Vigilance and Growth’, the Enterprise Excellerate Conference, a WIBC pre-event, focused on developments in FinTech. Led by the EDB as strategic partners, FinTech industry leaders outlined the benefits of technology and its application in Islamic Finance.
Euromoney GCC Financial Forum Bahrain 27-28 February
The GCC Financial Forum returns to Bahrain, where the EDB will be co-hosts. The Forum has a powerful influence in determining how the GCC funds its future by harnessing the expertise of senior international policy makers, economists, academics and financiers.
In 2017, the emphasis will be on innovation. As with the WIBC, delegates will hear how technology, for example in payment processing platforms, can deliver advantages for consumers and financial institutions alike.
Other events
Bahrain has hosted further important events, including the Takaud Middle East and North Africa Pensions Conference in October. More recently, the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) held the AAOIFI-World Bank 11th Annual Conference entitled ‘Islamic Finance in the post oil economic scenario.’
Going international
The EDB increasingly communicates Bahrain’s financial services messages abroad. For a forthcoming calendar of events, simply contact BDFS@bahrainedb.com.

Bahrain takes to the road with start-ups

January 25, 2017

With a tech-savvy population, superbly qualified ICT workforce, strong entrepreneurial community and ready access to accelerators, incubators and angel investors, Bahrain is firmly established as a startup hub.

Our dedicated start-up initiative – branded StartUp Bahrain – is highly active in attracting start-ups, accelerators, incubators and potential investors. It recently hosted and attended key events around the region. Here is a quick round-up.
Web Summit Lisbon 7-10 November
More than 50,000 delegates and 15,000 companies from 166 countries attended ‘Europe’s largest and most important technology marketplace’. Bahrain was the only GCC country present.
Tenmou MENA Angel Investors Summit Bahrain 22-23 November
Brought together attendees from entrepreneur programmes, accelerators and angel investors. More than 40 MENA start-ups pitched ideas and deals worth USD 4 million were triggered.
RiseUp Summit Cairo 9-11 December
This globally attended event connects MENA entrepreneurs with funding and growth partners. Over three days, industry leaders and investors shared experiences, provided support and planned investment.
ArabNet Riyadh 12-14 December
A forum that focuses on building the next digital frontier. The Saudi Arabian digital economy is evolving fast and Bahrain demonstrated why it is the ideal operational base for Saudi entrepreneurs and start-ups.
Seedstars MENA Bahrain 13-15 December
At this regional seed stage start-up competition for emerging markets, more than 300 founders, investors and entrepreneurs from MENA, Europe and the US learned what Bahrain has to offer.
Get in touch
Find out more about Bahrain’s startup scene and initiatives by dropping us a line on startup@bahrainedb.com or visiting www.startupbahrain.com.

Keeping cool: CIMC trailers roll into Bahrain

January 25, 2017

CIMC Vehicle Group – part of China International Marine Containers (CIMC), the world’s largest container and trailer company – is to build a new reefer trailer manufacturing and export hub in Bahrain. Temperature-controlled reefer trailers are used to transport perishable goods.
A diversified group worth almost USD 8 billion, CIMC has over 300 member businesses, 60,000 staff and a sales network covering more than 100 countries. After reaching success in the United States, this is the third Reefer trailer manufacturing plant CIMC set up overseas.
Much like Armacell, CIMC was attracted by our advanced infrastructure that tightly links port, airport, logistics zones and road network for fast throughput; our proximity to Saudi Arabia and central Gulf location that gives easy access to the GCC and wider Middle East; and our cost-competitiveness, with significantly lower industrial operating costs than neighbouring hubs.
In addition, Ms. Teresa Tan, CFO of CIMC Vehicle Group says: “…We believe Bahrain’s highly skilled workforce and open business environment provide us the perfect platform for our next growth phase.”
The EDB helped smooth the way for CIMC’s inception, with research into Bahrain’s investment climate and full registration and set-up support.
An ever-developing partnership
China and Bahrain have been trading for thousands of years along the original Silk Road. Today, we are a key centre on China’s 21st Century Maritime Silk Road, a component of its ‘One Belt, One Road’ vision. Developments like these illustrate the strength of our diplomatic and economic ties:
  • Non-oil trade between Bahrain and China reached around USD 1.8 million in 2015, with mechanical and electrical equipment the largest imports to Bahrain, and chemicals the leading exports to China
  • Bahrain had a significant presence at China International Fair for Investment & Trade (CIFIT) in 2015, as part of a high-level roadshow that resulted in 15 MoUs (Memoranda of Understanding)
  • In November 2016, upon the invitation of the Mayor of Shenzhen, a high-level Bahraini delegation, led by H.E. Shaikh Hisham bin Abdulrahman Al Khalifa, Governor of the Capital Governorate, attended the China High-Tech Fair in Shenzhen. During the trip the EDB hosted a Bahrain-Shenzhen Business Forum and signed three MOUs with Chinese companies
  • Many leading Chinese companies are established here, including Bank of China, China CommService, China Harbour Engineering Company Ltd, CPIC, ChinaMex, Jinluo Water and East Star Group. Bahrain is also home to the Middle East HQ of Huawei and Dragon City, a shopping mall featuring more than 500 Chinese businesses
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