Bahrain’s Ministry of Works, Municipalities Affairs and Urban Planning Engineer Essam bin Abdullah Khalaf has signed an agreement for the construction of the Future Generation Reserve Tower in the Gulf Of Bahrain. The waterfront project was awarded to Al Ghana Group, following a competitive tender worth about $62.1 million.
With an estimated construction area of 63,000 sqm., the project will include 38 floors of office accommodation and various other facilities. Additionally, this development will be the first financial investment tower in Bahrain, which has been designed to receive a LEED certification. The architect of the project is Mohammed Salahuddin Engineering Consulting Bureau.
During the agreement signing, Al Khalaf said the project opens up broad prospects for the enhancement of the real estate development sector, in addition to achieving investment returns for the Future Generation Reserve Fund.
He added that it would contribute to the revitalisation of the local economy by attracting more local and international investments that represent a direct addition to the national economy while providing quality job opportunities for the people of Bahrain.
The implementation of this project reflects the progress and significant development of the Future Generations Reserve Fund as a sovereign investment body stated Al Khalaf. This is following balanced investment policies characterised by diversification of portfolio investments and long-term preservation of invested capital, he concluded.
