by Shane McGinley on Oct 30, 2013
Bahrain Bay is aiming to have nearly half its masterplan built in the next year, the CEO of the $2.5bn project told Arabian Business in an interview.
Launched in 2006, Bahrain Bay faced the same harsh realities all master developments did in 2008 but the project’s master developer was lucky in that the costly land reclamation is complete and the infrastructure is in place.
With one of its main anchor buildings operational, the second in the final stages of completion and the country’s real estate sector is pushing forward with a new sense of urgency, the project’s CEO Robert Lee said at the company’s headquarters in Bahrain.
“In terms of actual construction and completion I think we are probably at about 25 percent,” said Lee, who has been CEO since January 2012.