The recent confirmation of construction work on the Four Seasons Hotel in the Kingdom of Bahrain has signalled new optimism in the nation’s employment and real estate sectors.
Situated at Bahrain Bay - the country’s highest-profile, master-planned $2.5 billion waterfront community – the five-star hotel’s commitment to an April 2014 construction completion date is set to inject new jobs, new capital, and new optimism into several of Bahrain’s flagship sectors.
Confirming the positive effects of the new development, Bob Vincent, chief executive of Bahrain Bay Development, who will be coordinating the project’s implementation, said: “The project is predicted to result in direct and indirect economic benefits for Bahrain that will equal approximately BD300m over the next five to seven years, which not only has obvious beneficial fiscal effects, but is also a very positive statement of confidence in the country as a business destination.”
As the latest in the five-star chain’s prestigious portfolio of international properties, the Four Seasons Hotel at Bahrain Bay will bring employment benefits to the nation’s workforce, confirmed Vincent.
“The commencement of the main contract for the Four Seasons Bahrain Bay is seen as an important commitment to re-invigorating construction in Bahrain and bringing a fresh focus to real estate lending by local banks” Vincent commented.
“In addition, the flow-on effects of more than 2,000 jobs during construction; participation by local Bahrain sub-contractors and suppliers during the development and more than 700 permanent jobs; will all serve to demonstrate a turnaround in the Bahrain economy”.
At 201 meters tall, 50-storeys, and 263 guest rooms, the hotel complex is set to bolster Bahrain’s hospitality credentials, and set a new standard in luxury accommodation.