A TESTIMONY TO THE COMPANY’S APPROACH TO INNOVATION AND CREATIVITY:
SEEF PROPERTIES WINS TWO PRESTIGIOUS INTERNATIONAL AWARDS FOR ITS LEADING MIXED-USE PROJECT “AL LIWAN”
- The awards affirm the Company’s commitment to the diversification of the real estate sector
- Najibi: Seef Properties will continue to be a leader in real estate innovation
- Yusuf: Al Liwan is a reflection of our efforts to bring unique developments to life locally and regionally
- Seef Properties’ projects are consistent with Bahrain Vision 2030 for economic diversity
- Leasing has exceeded 75% of total project
As part of its steady endeavours to contribute to the prosperity of the Kingdom’s real estate sector with multiple achievements, Seef Properties B.S.C. (“Company”), one of the leading integrated real estate development companies in the Kingdom of Bahrain, announced that its mixed-use development project “Al Liwan” received two (2) prestigious international awards for excellence and innovation. Al Liwan received the award for one of the best mixed-use real estate development projects in the Kingdom of Bahrain at the Arabian Property Awards (Africa and Arabia) for 2021-2022, which are a part of the prestigious International Property Awards in the United Kingdom and the award for Commercial Project of the Year by Middle East Economic Digest (MEED). The accolades were awarded to Al Liwan in recognition of the diversity of the project’s facilities which are a confluence of authentic Bahraini architecture and the finest architectural designs. Combining remarkable and environmentally friendly hospitality, retail, residential and recreational features set amidst expansive greenery, the project’s design adeptly combined extraordinary aesthetics with best construction practices.
The Arabian Property Awards are considered one of the most prestigious awards in the world. The rigorous evaluation process was conducted by an independent jury comprised of an internationally acclaimed and distinguished real estate professionals. Al Liwan also secured MEED’s award, which recognises excellence in various business sectors across the GCC.
Al Liwan is considered the first real estate development project of its kind in the Kingdom of Bahrain, strategically occupying 122,000 square metres across from Batelco headquarters and adjacent to Wali Al Ahd Highway. The project has been designed to offer a vibrant community which embraces a total of 136 stores and restaurants of various recognised brands, with 117 residential units overlooking stunning views available for rent, as well as an entertainment centre that is the first of its kind in the Kingdom of Bahrain, in addition to seven (7) state-of-the-art movie theatres, a promenade spanning over 1.6 kilometres and an integrated sports centre.
Key Economic Driver
Al Liwan project is a testament of the business-friendly investment environment fostered by the Kingdom of Bahrain through modern and flexible legislation tailor-made to meet the expectations of investors and enable them to establish businesses and expand operations with attractive returns. Such investor-friendly foundations have allowed Seef Properties to assume its position as a leader in the real estate sector and to successfully manage an extensive portfolio of commercial, hospitality and leisure properties in the Kingdom of Bahrain.
On this occasion, Mr. Essa Najibi, Chairman of Seef Properties, stated, “Seef Properties is honoured to be one of the leading companies in Bahrain’s real estate sector credited for being a catalyst of expansive real estate development in Seef District resulting from the establishment of Seef Mall more than twenty (20) years ago. Today, Seef Properties remains steadfast in supporting Bahrain Economic Vision 2030 by launching projects of excellence such as Al Liwan, which exemplify its ability to sustain economic growth and enhance tourism offerings in the Kingdom of Bahrain.”
He added: “Winning these awards comes as a recognition of Al Liwan being the most promising addition to leisure destinations within the Northern Governorate. Our achievement compliments the economic diversification in Bahrain Economic Vision 2030 via projects that serve the development and prosperity of the non-oil sectors, driven primarily by the Government’s ambitious policies which promote and sustain investments. Al Liwan further reflects the extent of Seef Properties’ commitment to developing projects which enhance the urban landscape of the Kingdom of Bahrain and in turn, support tourism and economic dynamism.”
High Occupancy Rates
The occupancy rate in Al Liwan project has exceeded 75%, confirming its position as an attractive destination for world renowned brands. Al Liwan recently began operations after completion of all construction works, with a number of units opening to the public, including Starbucks Café, Al Salam Bank, Bank of Bahrain and Kuwait (BBK), Lalabella Cafe, Fuddruckers, Caribou Café, Plant Café, Starboard Décor, Al Nakheel Fitness Centre and The Bed Center, in addition to several prestigious local, regional and international brands opening soon, such as The Orangery, Miniso, Optica , Roche Café and Kabuki Japanese Cuisine. Additionally, the project has attracted brands that are making their first entry into Bahraini markets, such as Lamb Chef Restaurant, Danube Supermarket, Crème Sweets from London, Lusitania Gourmet Food and more.
On his part, Mr. Ahmed Yusuf, Chief Executive Officer of Seef Properties, stated, “Winning these distinguished international awards is a testament to Al Liwan’s excellence amongst mixed-use real estate projects in the Kingdom of Bahrain and the region. This achievement positively complements the leasing progress which is moving towards completion at 75%. The project continues to attract more prestigious regional and international brands, some of which are making their debuts in the Kingdom, due to the quality of its facilities its strategic location in close proximity to King Fahad Causeway, further cementing its position as a new focal point for visitors, tourists and shoppers from Bahrain and abroad.”
He added: “The project embodies a unique and diverse environment combining work and pleasure as it provides a distinctive range of restaurants and cafes amidst a green and environmentally friendly atmosphere. The growth in demand from prominent brands to occupy large retail and hospitality spaces within the project is a genuine tribute to the efforts of our team who worked diligently to make the project a landmark amidst the Kingdom’s commercial properties.”
Drawing upon inspiration deeply rooted in Bahraini heritage, “Al Liwan,” meaning the big hall used to receive guests in old Bahraini homes, encompasses four (4) residential buildings uniquely named after indigenous trees in existence in the Kingdom of Bahrain both historically and to date, which are “Al Nakhla”, “Al Sidra”, “Al Loz” and “Al Neem”. Moreover, the project provides large green spaces and water features, the most prominent of which carry the name of “Al Ain”, “Al Baraha” and “Al Hadeeqa”.
Mr. Yusuf concludes by saying: “We wanted to draw inspiration from Bahrain’s heritage, which was proudly preserved and carried through many generations, and reflect it in all aspects of the project. Such rich heritage will continue to inspire us as we carry it forward into all Seef Properties future endeavours.”
Note: The press release is available on Bahrain Bourse website on www.bahrainbourse.com