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22/05/2014 07:45 AST
Al Mazaya Holding Company has awarded a BD2.2 million ($5.8m) contruction contract to KMC Bahrain.
The contract is for the building of Mazaya Logistics' industrial warehousing facility spread over 27,605 sqm in Bahrain Investment Wharf.
The project is to be delivered within six months.
KMC Bahrain was one of five contractors that bid for the tender.
The contract entails construction of 42 industrial units having areas ranging between 250 and 500 sqm, totalling 15,250 sqm.
All concrete, iron, and electro-mechanical works are also a part of the scope of work.
Al Mazaya Holding Company chairman Rashid Al Nafisi, group chief executive Ibrahim Al Saq'abi, chief of business and marketing development Salwa Malhas and chief of project development Dr Abdulaziz Jarkas were present at the signing.
Also present were KMC Bahrain general manager Mohammad Al Shalfan, deputy general manager Fadi Al Shaikh, deputy general manager for human resources and supporting services Abdullah Al Batel and business development manager Suleiman Al Asaker.
"The total value of the project is BD7.8m and we intend to add income-generating assets over the next three years," Mr Saq'abi said.
Al Mazaya's foray into the warehouses and logistics sector would pave the way for future expansion at the regional level, he added.
The company intends to register the Mazaya Logistics brand and develop the corporate identity and intellectual property in all countries where it intends to operate.
The project marketing plan kicked off with Al Mazaya's participation in the Gulf Industry Fair earlier this year.
A temporary marketing centre has been established on site to address leasing inquiries. The company has an advertising plan lined up that covers all audio-visual hardware, as well as social media.
KMC is the contracting and project management services subsidiary of Kuwait Finance House.
The company has a presence in Kuwait, Bahrain, Oman and Saudi Arabia, and has executed projects worth more than BD50m.
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