Al Nakheel Tower Reaches 40% Occupancy Just Three Months After Completion

Cluttons, the real estate specialist which has enjoyed a dedicated Middle Eastern presence since 1976, today announces the successful launch of Al Nakheel Tower in Manama, Bahrain, as demonstrated by high occupancy levels of 40%, just three months after completion, with further space currently under negotiation.

The building, located in the Seef District, was handed over in August 2012 and comprises of over 5,600 sq m of commercial space. It has established itself quickly as the address of choice for a number of leading international firms, including Bahrain International Medicine, Majali Enterprises, Grant Thornton and Qatar Airways. Further discussions for increased space are underway with a selection of other potential tenants.

Al Nakheel Tower has proven attractive to tenants due to its combination of competitive rates, option of fitted out space, flexible floor plates, quality finishing, a well-calculated car parking ratio including 120 car parking spaces and professional property management by Cluttons in Bahrain. In addition, the Seef District has established itself as a highly desirable office location due to its combination of easy access and good parking, which adds further to the popularity of Al Nakheel Tower.

Harry Goodson-Wickes, head of country for Cluttons in Bahrain notes: “I’m very pleased that Cluttons has been appointed to manage the Al Nakheel Tower. This type of prestigious, well serviced development with a range of amenities is just what the current market demands and both the tenants and landlords will benefit from our dedicated property management expertise. There is such a strong appetite for this type of tower that we’ve managed to let almost half the available space within a matter of weeks from completion. We expect demand from tenants to continue to grow.”

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