Property consultancy wins second major deal of 2014 with leasing contract at The Lagoon, Amwaj Islands
Real estate consultancy Cluttons has picked up a contract to provide leasing, facilities management and tenant liaison services at one of Bahrain’s newest retail projects.
The Lagoon, part of the man-made Amwaj Island development to the north-east of Muharraq, consists of 55,000 square metres of commercial retail space. The site has been developed by the UAE’s Abu Dhabi Investment House.
Cluttons said in a statement that it expected to reach full occupancy in The Lagoon “shortly”.
“We are delighted to win this significant instruction which demonstrates our strength in the market at a time when our new brand direction has recently been unveiled,” said Harry Goodson-Wickes, head of Cluttons Bahrain, in a statement.
“The Lagoon has become an integral part of Amwaj, supported by real demand. A number of leasing transactions have recently taken place within the Lagoon, providing us with a strong indication of the rental tone for the development as a whole. There are a few remaining units available but we expect to reach full occupancy shortly.”
The contract is the second major win for Cluttons this year in the Bahraini retail industry. In February, it was appointed the official agent of Dragon City, a wholesale China-themed mall that aims to build on the success of Dubai’s Dragon Mart.
Developed by Kuwait Finance House Bahrain, Dragon City will have 335,000 sqm of retail space, and is expected to see footfall of up to 2 million every year.