Work will begin soon on Future Generation Reserve Tower, a key seafront development in Bahrain featuring 38 floors of office accommodation and other service facilities, reported BNA.
The project, which boasts a construction area of 63,000 sq m, will include 38 floors of office accommodation and provide various service facilities.
An architectural icon, it is the first financial investment tower in Bahrain which has been designed to receive the Leadership in Energy and Environmental Design (LEED) certification, an internationally recognised green building standard.
The architect of the project is Mohammed Salahuddin Engineering Consulting Bureau (MSCEB), a leading national engineering practice.
Minister of Works, Municipalities Affairs and Urban Planning Engineer Essam bin Abdullah Khalaf signed the construction agreement for the Future Generation Reserve Tower which is expected to be completed in the fourth quarter of 2022.
The project was awarded by the Tender Board to the Al Ghanah Group, one of the leading national construction companies, following a competitive tender worth BD 23.4 million.
A number of officials and staff from the Ministry of Finance and National Economy, the Ministry of Works, Municipalities Affairs, Urban Planning and The Future Generations Reserve attended the signing ceremony.
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.
It will contribute to the revitalisation of the local economy by attracting more local and international investments that represent a direct addition to the national economy and its competitiveness at the regional and international levels, and provide top quality job opportunities for the people of Bahrain, he stated.
The implementation of this project reflects the progress and significant development of the Future Generations Reserve Fund as a sovereign investment body following balanced investment policies characterised by diversification of portfolio investments and long-term preservation of invested capital, he added.
SOURCE: TRADEARABIA