YBA Kanoo, Axa sign deal for new real estate development in Bahrain Bay
Posted on 7th May 2019
According to *Tradearabia news report, Yusuf Bin Ahmed Kanoo Group (YBA Kanoo), one of the largest independent, family-owned groups of companies in the Gulf region, has signed a deal with Axa, one of the largest international insurers in the GCC, for its new real estate development in Bahrain Bay.
Located on the main island, 6.8 km from Bahrain International Airport, Bahrain Bay is one of the kingdom’s most ambitious real estate developments in recent years. Easily accessible, the new seven-storey Axa building will consist of over 6,000 sq m of commercial space.
The new building is expected to open in late summer of 2019. Extensive work has been ongoing in the design, build and fit-out to craft not only a more comfortable work-environment for Axa’s Bahrain-based colleagues but also to provide a more customer-centric location, said a statement from YBA Kanoo.
In addition, the building has been designed with sustainability in mind and will feature rooftop solar panels and automated lighting controls, it added.
Commenting on the announcement, which comes just days after the King of Bahrain visited France to cement business relationships between the two countries, Nabeel Khalid Kanoo, a representative of YBA Kanoo, said: "Both parties are committed to supporting the kingdom’s economic development and will continue to co-operate with the Economic Development Board of Bahrain."
"This MoU is a testament to the two groups’ shared vision of collaboration and long-term business ventures, drawing on the strengths of their well-established partnership in Bahrain," he added.
Axa Gulf CEO Cédric Charpentier said: "I am proud of our strong legacy with the Kanoo family spanning several decades and this building reflects not only the ambitious spirit of our partnership, but also strengthens our commitment to the kingdom and the region as a whole."
*News source: http://tradearabia.com/news/CONS_354282.htmlBack to all Construction News
Share this story: