Development in Bahrain’s retail sector continues
The retail sector continues to witness development both in the destination and community mall segments, according to the Q2 2015 Bahrain MarketView by CBRE. Newly completed centres, new neighbourhood retail and food and beverage offerings are now being added to the pipeline.
Galleria in Zinj, a Dadabhai project is set for completion in Q4 2015, closely followed in 2016 by the USD 6.5 million Wadi Al Sail project in Riffa, which has announced its collaboration with Cineco to provide a six screen cinema complex. In the city, Maalem Holding’s The Courtyard located in Seef District is also due to open in Q3 2015 offering three floors of dining and retail space.
Bahrain market snapshot Q2
Office: Commercial office market remains stagnated, with limited movement quarter on quarter
Residential: Little change in rental rates and demand, despite some increased vacancy in the north west of the island for popular expatriate residential compound areas
Hospitality: Busiest time of the year with 90-100% occupancy across all class hotels