With the recent confirmation of construction work on the Four Seasons Hotel located at Bahrain Bay, the nation’s most well-known, $2.5 billion waterfront community, the Kingdom of Bahrain has signaled new optimism in the nation’s employment and real estate sectors.
The 5-star hotel’s commitment to completing construction by April 2014 is expected to bring new jobs, new money, and new hope to several of Bahrain’s leading industries.
“The project is predicted to result in direct and indirect economic benefits for Bahrain that will equal approximately BD300m over the next five to seven years, which not only has obvious beneficial fiscal effects but is also a very positive statement of confidence in the country as a bus,” says Bob Vincent, CEO of Bahrain Bay Development, confirming the positive effects of the new development.
The Four Seasons Hotel at Bahrain Bay, the newest addition to the five-star chain’s illustrious portfolio of foreign properties, will benefit Bahrain’s workforce in terms of employment, according to Vincent. The start of the main contract for the Four Seasons Bahrain Bay is seen as a significant commitment to reviving construction in Bahrain and giving local banks a new focus on real estate lending, Vincent said. A turnaround in the Bahraini economy will also be shown by the knock-on effects of more than 2,000 construction jobs, participation by local Bahraini suppliers and subcontractors during the development, and more than 700 permanent jobs.
With 201 meters in height, 50 stories, and 263 guest rooms, the hotel complex is expected to improve Bahrain’s reputation as a tourist destination and establish a new benchmark for luxury lodging. The project has been created to lead Bahrain’s hotel offerings into a new era. It includes five-star spa and leisure facilities, a suspended “Sky Pod” restaurant, first-rate banqueting and conferencing capabilities, four fine dining outlets, and panoramic views from guestrooms and suites. The Bahrain Bay management team will oversee the project’s execution, so the hotel’s construction will demonstrate the same cutting-edge modern design and project management effectiveness that have established Bahrain Bay as the nation’s most prestigious waterfront community.
Bahrain Bay, located off the northeastern coast of the country’s capital Manama, is the first master-planned mixed-use waterfront community in Bahrain. The Skidmore, Owings & Merrill-designed $2.5 billion development’s master plan aims to integrate community facilities, public amenities, and commercial, retail, and retail and tourism use. Three anchor projects—Four Seasons Bahrain, Arcapita Headquarters, and Raffles City Bahrain—reflect the high bar that the project is establishing for the Kingdom on a global scale. Since its inception in 2006, it has advanced without interruption, with 65% of the land parcels having already been sold. It is planned for a multi-phase completion, with the first phases beginning to be finished in 2012.