Leasable area grew 13%: top EDB official

Manama : Bahrain’s retail gross leasable area grew by 13 per cent last year and has tripled over the past 10 years, said a top EDB official. 

“Bahrain also witnessed a growth in tourism arrivals in 2017 reaching 11.4 million visitors, and partial credit to this increase is given to our retail experiences,” said Jerad Bachar, Executive Director – Investment Development of Tourism, Real Estate, Education and Healthcare at the EDB. 

Speaking during the Middle East Council of Shopping Centres (MECSC) networking monthly event, Bachar said that EDB in coordination with other stakeholders “ aims to continue to increase demand across retail, dining, and entertainment through the diversification of products and services”.

He added: ‘‘The retail sector is a vital part of Bahrain’s tourism offering. The diverse mix of traditional, modern, and online retail experiences in the Kingdom continue to evolve.”

The event co-hosted by the Economic Development Board (EDB) and Moda Mall brought together retail industry professionals to facilitate retail business development, experience and knowledge sharing and networking.

The EDB’s participation comes in line with its strategic plan of promoting the retail sector to further attract investment and create jobs in the Kingdom. 

Tourism, including retail, is a fast-growing sector and a key strategic focus for the EDB and the government. Through a host of current tourism infrastructure projects that are worth more than the US $13 billion, as well as new public and private sector initiatives, the retail industry will continue to expand and attract further investment. 

Bahrain World Trade Center and MODA Mall’s managing agent, Cushman & Wakefield Bahrain, Kelvin Crutchlow, Director & General Manager said, “Events as these are an important platform that attracts participation from all major stakeholders coming together to pave the way for new opportunities and future growth in the retail sector.”