Abu Dhabi Investment House's Lagoon Real Estate development has signed an agreement with First Leasing Bank to finance Bahrain's first floating restaurant with the total cost of BD1.5 million ($4 million).

"The floating restaurant at the Lagoon is the first of its kind in Bahrain and will be a really big attraction for Bahrainis and tourists alike," said Lagoon chairman Saud Al Nusuf.

"This strategic partnership is important to provide a very attractive landmark to the people who live and visit Bahrain," said First Leasing Bank chief executive officer Gregory Brinkerhoff.

"We are expecting high leasing revenues from this project as the bank aims to lease it to a major international restaurant management company."

Owners of retail units at the Lagoon include Al Shaye'e Group, Planet Hollywood - Bahrain as well as various other top brand names.-TradeArabia News Service