Breathing new life into Sitra Mall

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Bahrain Development Bank (BDB) Group CEO Sanjeev Paul signed an agreement with Mohammed Salahuddin Consulting Engineering Bureau (MSCEB) Managing Director Thamer Salahuddin, paving the way for a significant revitalization of Sitra Mall.

Edamah CEO Amin Alarrrayed and Edamah Property Management Company (EPMC) General Manager Waleed Ali were present.

As per the deal, Bahrain-based MSCEB will oversee the design of the new facility and maintenance works over three phases, the first and second of which are valued at approximately BD3 million.

EPMC said that all required maintenance and renovation work at the mall and its surrounding vicinity are progressing according to plan.

The agreement aims to boost the mall’s commercial activity, improving shopping and entertainment options for residents of Sitra and surrounding areas. EPMC was appointed to manage and operate Sitra Mall as per an agreement with BDB.

BDB Group CEO, Sanjeev Paul, said: “We are happy to partner with Edamah, which has a strong track record as manager of the government’s property portfolio and are confident that its expertise will add real value to the mall and the economy.”

Bahrain Real Estate Investment Company (Edamah) CEO, Amin Alarrayed said: “We are pleased to have been given custodianship of this important facility through our subsidiary EPMC – a clear signal of BDB’s trust in our capabilities.”

The agreement, Alarrayed said, will boost the profitability of the government of Bahrain’s property portfolio, contributing to the Kingdom’s wealth.

“Major projects such as these require time and resources to ensure completion following international benchmarks and the Kingdom’s governance frameworks,” he added. Alarrayed said: “We remain dedicated to turning Sitra Mall into a first-rate leisure and shopping destination in partnership with MSCEB, one of the region’s most respected architectural firms, which boasts a track record spanning more than half a century.”

MSCEB Managing Director Thamer Salahuddin said: “We are proud to play a key role in this major project, which will offer Sitra and its surrounding areas a prestigious destination that is attractive to both investors and shoppers.” EPMC completed a development plan for the mall, which included a detailed evaluation of occupied and available unit space, an assessment of current outlet types, a study of how to attract new tenants in line with the market and community needs, and a projection of revenues and occupancy rates.

Sitra Bridge and its associated walkway are also undergoing renovations, including improvements to the lighting.