Industry: Real Estate
Designation: CEO, Bahrain Bay
Occupation: CEO, Bahrain Bay
Bob Vincent is the man charged with delivering Bahrain Bay, a $2.5bn mixed-use development fast taking shape on 430,000 sq m of reclaimed land on the northern waterfront of Manama. The high-profile project will cater to more than 25,000 residents, and includes commercial towers, shopping malls, five star hotels and residential townships.
While Bahraini real estate firms admitted that consumer demand in the property market was minimal in the first half of the year, the kingdom has at least been spared the mass project cancellations of some other Gulf states.
And Bahrain Bay has certainly weathered the storm thus far: earlier this year Vincent told
that the project hoped to generate $70m in sales and revenues before the end of Q1 2010, despite the current economic climate.
The project already has 16 sub-developers onboard, while the three anchor developments are the Four Seasons Hotel, the Arcapita Bank Headquarters and Raffles City Bahrain. According to Vincent, 62 percent of the land has been sold, while a further 15 percent of the land is currently the subject of negotiations between Bahrain Bay and interested third party developers.