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KFH unit signs lease accord with Siemens

Manama, October 17, 2010

Baytik Industrial Investments (BII), a wholly-owned subsidiary of KFH-Bahrain, has announced the signing of an agreement with Siemens Bahrain.

The company has leased a total area of 25,000 square feet and will be the first tenant to move in and enjoy the benefits of Baytik Industrial Oasis's (BIO) state-of-the-art, pre-built advanced manufacturing units designed especially for technology and manufacturing companies such as Siemens.

'We are pleased to welcome an international, well-recognised brand such as Siemens to Bahrain and hope they have a long and productive tenure at BIO, KFH Bahrain chief executive and managing director Abdulhakeem Alkhayyat said.

'In line with Bahrain's Economic Vision 2030, BIO has heavily invested in a world-class infrastructure to attract global leaders in the industrial sector.

'With a total project area of 162,000 square metres, that includes all facilities such as roads, electricity, telecommunications and other infrastructure, any BIO-based enterprise need only bring their equipment, knowledge and expertise to the Oasis,' said Alkhayyat, who is also the chairman of BII.

'We have taken considerable care to ensure that all materials used and each facility is built to the highest international standards with the needs of global occupiers in mind, such as BIO's first tenant Siemens,' he said.

Alkhayyat thanked the Industry and Commerce Ministry and the Economic Development Board for their continued support and assistance to BIO.

BIO chairman Osama Alkhaja said aiming to generate greater inward investment and stimulate employment by capitalising on the ongoing expansion in the industrial sector, BIO is the first project of its kind in the kingdom.

'Located within the BIIP, a newly-established area in Salman Industrial City, BIO focuses on the technology, manufacturing, light industry service and knowledge-based sectors and has been designed to attract occupiers with value-added activities.

'The project is planned to be implemented in two phases. Phase 1 covers an area of 117,400 sqm while Phase 2 covers 45,000 sqm.'

Baytik Industrial Investments chief executive Nader Almoayyed said the recently completed Phase 1 of the project comprises six pre-built advanced manufacturing units for lease, each consisting of four modules of equal sizes.

'Providing flexibility in options, a company can invest in single or multiple units covering up to 9,600 sqm.

'Our dedicated logistics area, built to serve all the logistic requirements within the BIIP, was also completed during Phase 1.'

'As an incubator for business growth, BIO-based companies such as Siemens benefit from: pre-built advanced manufacturing units built to a world-class standard; zero per cent corporate tax; 100 per cent foreign ownership; superior infrastructure; duty-free access to all GCC markets; excellent connectivity through road, air and sea; an FTA with the US; and access to a talented and well trained workforce pool. And these are just some of the benefits,' said Almoayyed.-TradeArabia News Service




Tags: Siemens | KFH-Bahrain | Baytik Industrial Oasis |

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