Al Baraka Banking Group (ABG) has awarded the contract for the construction of its group headquarters in Bahrain Bay to Arabtec Construction Company.

The contract was signed by ABG president and chief executive Adnan Ahmed Yousif, and Arabtec Construction Company chairman Riad Kamal.

'We are very pleased to inaugurate our achievements for the new year by signing a contract for the construction of the new headquarter of Al Baraka Banking Group.

'It clearly emphasises the determination of the group to continue its outstanding performance that it has started over the last years, and even in the global economic crisis,' said Yousif.

'The new headquarters is designed to meet the present and future needs of the group,' he added.

'The choice of the Bahrain Bay for the construction of its headquarter stems from the belief of the vital importance enjoyed by Bahrain as a financial and Islamic banking centre both regionally and globally.

'This important contract embodies a dream for us to see the new headquarter of the group constructed on latest architectural style in one of the largest development projects in the heart of the Bahraini capital, he added.-TradeArabia News Service