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Bahrain-based Baytik Industrial Investments (BII) has announced the 75 per cent completion of Baytik Industrial Oasis (BIO).
Located within Bahrain International Investment Park (BIIP) in Hidd industrial area, BIO is first project of its kind in the kingdom.
Encompassing 154,400sq/m of land, the first tenants of the project are set to move in by end of 2009. Leasers will benefit from BIO's state-of-the-art pre-built advanced manufacturing units designed especially for companies engaged in high-technology manufacturing and assembling, light industry, SMEs and industrial processing.
"Regardless of the current economic climate, I'm pleased to report that BIO's construction is on target. With 75 per cent complete, we're looking to lease nearly half the units by December 2009," said Osama Al Khaja, chairman of Baytik Industrial Oasis.
"Our partnership with BIIP is in line with our vision to accelerate the rate of economic development in Bahrain. With one of the most open economies in the Middle East and ranking 19th worldwide, boasting the Gulf's lowest operating and living costs, BIO is an ideal location for any company looking to take its first steps into the GCC market."
Nader Almoayyed, CEO of Baytik Industrial Investments, said: "The project is in line with Ministry of Industry and Commerce's initiatives for economic diversification and will bring in much needed investment into the kingdom's industrial sector."
