Albaraka Banking Group to build new HQ at Bahrain Bay

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About Bahrain Bay Development B.S.C.(c) (www.bahrainbay.com)
Bahrain Bay is a new metropolis coming to life. A vibrant destination in the heart of Manama, Bahrain, this distinct community is a fusion between the calm of water and the vitality of an urban centre, the essence of Bahraini tradition. Positioned off the north-eastern shore of Manama, Bahrain Bay is a landmark $2.5 billion waterfront development designed around vibrant neighbourhoods of residential, commercial and retail spaces, all based upon the unique concept of an island connected by two bridges forming an inner harbour. Contemporary in design and modern in its sensibility, Bahrain Bay brings a new energy to Bahrain, uniquely combining its diverse components and contrasting elements into an authentic and welcoming destination.

The community is anchored by three key developments: the Kingdom's only Four Seasons Hotel which is due to open in 2010; CapitaLand's first GCC development, Raffles City Bahrain; and the new HQ building for Arcapita, the leading international investment firm and lead investor in the project .Final completion for the entire project is expected in the next 5 years.

Bahrain Bay is committed to establishing and maintaining a new standard of urban centre. With an emphasis on social fabric and sense of place, Bahrain Bay will be created as a complete community filled with residents, businesses and visitors from all over the world. Bahrain Bay offers a range of high quality development opportunities for developers to participate in creating residential, commercial and retail offerings around the anchor developments. In addition to the anchor developments, Bahrain Bay has attracted a $150 million investment from an Indian based JV between the Ajmera Group and Mayfair Housing to acquire land and develop one of the tallest residential buildings within the project, and a number of other sites are under offer.

Designed by Skidmore, Owings & Merrill, a world leading architecture and urban design firm based in New York, the masterplan for Bahrain Bay has been designed to create a fusion of neighbourhoods, open spaces, entertainment, retail and commercial areas which, together as Bahrain Bay, will serve as symbol of Bahrain's promising future.

For further information please contact the Bahrain Bay sales centre: +973 17505555
www.bahrainbay.com

For further information, please contact:
Gene` Redelinghuys
Bahrain Bay Development B.S.C.(c)
Tel: + 973 17505555

FD Bahrain
Tel: +973 17 537072