Diyar Al Muharraq received the Minister of Industry, Commerce and Tourism, His Excellency Mr. Zayed bin Rashed Al Zayani, and an accompanying delegation from the Ministry of Industry and Commerce, during an inspection visit to Dragon City, a Chinese themed retail and wholesale development in the master planned project on Tuesday, the 24th of November 2015
The visiting delegation consisted of the Undersecretary for Commerce Affairs Mr. Nader Khalil Almoayyed, the Assistant Undersecretary for Domestic Trade Mr. Hameed Yousif Rahma and other officials from the ministry. The Minister and the accompanying delegation were welcomed upon arrival to the Dragon City site by the Chairman Mr. Abdulhakeem Alkhayyat, the Managing Director Mr. Aaref Hejres, and the Chief Executive Officer Dr. Maher Al Shaer.
The visiting delegation went on a detailed tour of Dragon Mall, a commercial shopping centre that is elaborately segregated into different categories based on the nature of the merchandise being sold in the respective outlets, along with visits to the Asian Dining Village and the Warehousing Area as well. Dragon City is due to open its door to the public before the end of 2015.
Speaking on this occasion, the Minister of Industry and Trade His Excellency Mr. Zayed bin Rashed Al Zayani reiterated the support of both the government and the Ministry of Industry, Commerce and Tourism to all the National projects that add substantial investment and tourism dimensions to the Kingdom of Bahrain. His Excellency expressed his gratitude and appreciation to Diyar Al Muharraq’s Board of Directors for their exuberant efforts and their major role in creating vast economic and development projects that add extreme value to the national economy.”
“The ambitious initiatives undertaken by Diyar Al Muharraq in conceptualizing and developing massive urban development projects of high economic and touristic value are indeed appreciated by the esteemed government as these highly regarded endeavours serve to benefit both the Kingdom of Bahrain and its citizens,” His Excellency added.
“The Ministry of Industry and Commerce fully supports such valuable projects and extends its assistance through facilitating the required processes for them to achieve their aims and aspirations, which are considered an integral part of the Kingdom’s economic system due to the role they play in realizing the economic visions and strategies of the Kingdom,” His Excellency continued.
His Excellency elaborated further by saying: “Dragon City project today represents a huge success story; a valuable addition to the large scale economic projects embraced by the Kingdom due to the availability of government support and advanced infrastructure in addition to a strategic location that attracts both regional and international investments. Dragon City is set to become an economic and tourism landmark in the Kingdom of Bahrain, for which we thank the Board of Directors for their substantial effort for their active role in positively contributing to the growth of the national economy.”
“The pioneering development it is set to lure visitors in from around the region and will considerably boost tourism in the Kingdom as well, seamlessly blending cultures and creating a gateway for the purpose of a multinational pooling of resources, therefore serving the people most adequately. One can surely envisage the assured success Dragon City will reap and the many achievements and milestones it will see and set in the coming years,” he concluded.
Elaborating on the significance of the visit, the Chairman of Diyar Al Muharraq, Mr. Abdulhakeem Alkhayyat said: “Being able to host His Excellency Mr. Zayed bin Rashed Al Zayani gives us immense pleasure and we appreciate his keenness in wanting to visit Dragon City. Therefore it is of great pride for us to be able to highlight to him how committed Diyar Al Muharraq was to contributing to the economy of the country right from the beginning, exemplified by the conceptualization of a highly lucrative project such as Dragon City that is set to massively boost trade relations between the Kingdom of Bahrain and China. With Dragon City, we seek to reiterate the importance Bahrain places on its relationship with China and envision the project to be the cornerstone of that alliance.”
“By adopting a no compromise approach, in terms of finances and manpower, in the construction of Dragon City, we will soon manifest that vision with the culmination of our mission being next month as we open its doors to the public. We look forward to the spirit of fraternity that Dragon City stands for and the prosperity it will soon usher in,” he added.
From his side, the Chief Executive Officer Dr. Maher Al Shaer, said “Dragon City is a monumental tribute to the tremendous progress of the Kingdom of Bahrain in terms of its current Property Development capabilities and its vast Real Estate investment opportunities as well. Its expansive physical structure, the vast scope in its essential nature that it embodies and its eclectic offerings make Dragon City one of the biggest such projects in the Middle East and we are proud to be introducing so many benefits to the Kingdom of Bahrain with our pivotal development including negating travel expenses for Bahraini businessmen dealing with Chinese firms and providing added value to the Kingdom by thrusting it into the global investment limelight. We eagerly anticipate the consolidation of our status as being at the forefront of the urban development industry in the Middle Eastern Region and we look towards engaging in that reality in the foreseeable future.
Spread over a total land area of 115,000 square meters, Dragon City is the first of its kind development in Bahrain, which will offer unique wholesale and retail opportunities to local consumers, trade customers and tourists. Dragon City encompasses Dragon Mall and a themed “Asian Dining Village.” The Mall Design is infused with Chinese architectural and cultural aspects incorporating over 747 individual retail stores and additionally, a 4,500 square meter area designated for warehouses. The Asian Dining Village spans a land area of 6000 square meters and a car park large enough to accommodate 1,500 cars.
To date, Dragon City has obtained 100% lease and the occupancy rate has reached more than 95%.
Additionally, Dragon City also includes Dragon Apartments in close proximity to Dragon Mall. Occupying a total land area of 20,000 square meters, Dragon Apartments comprise of 6 multi-storey residential buildings encompassing both 4 and 6 floors with a total of 300 apartments and are seen to be the ideal residence for those invested in Dragon Mall and for those working in the Mall. Work on Dragon Apartments is totally complete and the first group of residents is due to move in their apartments soon.
The Dragon City concept was launched in May 2012 as the result of an agreement between Diyar Al Muharraq and Chinamex and Cluttons was appointed as the leasing agent for the project in the Kingdom of Bahrain.
Diyar Al Muharraq commissioned Nass Contracting for the construction of Dragon City and with work on the prestigious project having commenced in June 2014, it was completed well within target and now awaits imminent inauguration.
Also, an agreement was signed with Bin Faqeeh Real Estate Development Company for the development of Dragon Apartments, and Banz Group was appointed for Warehouse Management and Logistics Services for Dragon City.
Diyar Al Muharraq is a unique master planned city for the people of Bahrain offering range of housing options and quality lifestyle. Diyar Al Muharraq offers a cohesive mix of residential and commercial properties with a strong line up of projects aimed at creating a long term and sophisticated township.