Gulf Holding Company Invests in Bahrain’s New ‘District 1’ Commercial Center
Bahrain, XX December 2020 – Gulf Holding Company K.S.C (‘GHC’) announced today that it has invested in ‘District 1’, a commercial strip located on Janabiyah overlooking Shaikh Isa Bin Salman Highway, through the acquisition of property within the development. District 1, a high-end commercial development, is strategically located as one of the first commercial destinations at the Bahrain border upon entry from the King Fahd Causeway.
The District 1 project, distinguished by its unique architecture and design, provides high-end retail and restaurant outlets appealing to a broad range of visitors and demographics, and delivers an innovative commercial style compatible with today’s contemporary lifestyle.
Known for its high occupancy rates, which have exceeded 90%, the leading project entails tenants with commercial, leisure and entertainment offerings by Bahraini entrepreneurs. Some of its long-term tenants include advertising firms, interior design companies, pharmacies as well as selections of high-end restaurants and cafes.
Commenting on the acquisition, Majid AlKhan, Chief Executive Officer of Gulf Holding Company, said: “GHC’s acquisition of this project reaffirms our commitment to offering premium properties in Bahrain and our belief in the importance of these projects as they continually support developing the country’s infrastructure as part of our sustainable development goals. We are proud to work with both District 1 developers and other large developers across our portfolio continue as they continue to place their trust in GHC. Our priority now is to continue on the momentum we’ve achieved and continue to deliver on our promises to our shareholders.”
In turn, Salah Nooruddin, Owner and Developer of District 1, stated: “The partnership between District 1 and GHC allows us to combine our respective strengths to bring high-end developments to Bahrain. We now aim to continue our priority and efforts to provide high-end units for long-term lease, delivering on our promise of tenant satisfaction. The second phase of the project is planned to commence in the near future and will include a vast range of advanced facilities.”