The local First Bahrain Real Estate Development Company and Kuwait Finance House-Bahrain have closed on an Islamic project financing facility to develop a new $25m warehousing and logistics complex.
The facilility will be located at Bahrain Investment Wharf, the business and investment complex near the new Sheikh Khalifa port, which is due to open in October 2008.
To be built in two phases, the facility will cover 43,000 square metres and will accommodate about 150 units for lease. Bids for the construction of the facility are due within a week. The first phase of the project will be completed in mid-2009.
The facility is designed by the Netherlands' Tebodin Consultants & Engineers.
The Bahrain Investment Wharf project was launched in January 2006 by UAE-based developer Tameer.
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