Cluttons in deal to manage Bahrain tower

Manama, July 11, 2012

Cluttons, the real estate specialist, has been appointed by Eskan Bank to undertake the leasing and management of Segaya Plaza, a mixed-use real estate development currently under construction in Manama.

Under the agreement, which was signed by deputy general manager and chief business officer of the bank Ahmad Tayara and Cluttons in Bahrain head of country Harry Goodson-Wickes, Cluttons will undertake the leasing, management and marketing of Segaya Plaza.

"We chose Cluttons after an extensive study of all the leading real estate service providers and consulting firms operating with a commendable track record in Bahrain and the Middle East," said Tayara.

"Although the development is not due to be completed until the last quarter of 2012, we were keen to sign the contract at an early stage to ensure that we are able to benefit from Cluttons' expertise in marketing the property prior to its delivery and set the wheels in motion for a proper handover and management later on," he added.

"We at Cluttons are very pleased to have been appointed to manage Segaya Plaza," remarked Goodson-Wickes.

"These types of mixed-use spaces are in high demand in the country, so we anticipate a very strong response, as we regularly receive enquiries from tenants looking for high-end buildings with superior facilities."

"As always, the Cluttons team aim to deliver the best possible negotiations and management of delivery service," he added.

Segaya Plaza is located on Oman Avenue within the Segaiya area and is close to the Salmaniya Medical Complex and the Arabian Gulf University.

The nine-storey building will consist of 3,150 sq m of retail space on the ground and mezzanine floors while on the upper floors, there will be 105 residential apartments. The building will also have a swimming pool and a number of sporting and social facilities for residents of the building.

Segaya Plaza is one of two large projects currently under development by the BPMT under the investment management of the bank.-TradeArabia News Service

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