Chinamex to oversee Dragon Mart Bahrain
Firm signs deal with developer to open project at Diyar al Muharraq
Diyar Al Muharraq has signed a deal with Chinamex to a new Dragon Mart at its 12km2 site in Bahrain.
Diyar Al Muharraq's chairman, Abddulhakeen Alkhayyat, signed a memorandum of understanding with Chinamex chairman Hao Feng to develop a Dragon Mart at the project during a recent Chinese-Bahraini business forum held in china.
Chinamex is already established in the region, having promoted and operated the Dragon Mart in Dubai. It also developed a Chinese City project in Mexico.
Alkhayyat said: "We are very pleased to develop our relationship with Chinamex by signing this MOU that will allow the company to develop supporting projects for Dragon City.
"This big commercial city will consist of a large number of markets and shops over a wide area of up to 120,000m2 and will require the development of various supporting projects.
"Diyar Al Muharraq is attracting various foreign investments to the project," he added.
Dragon City will be be marketed and managed by Chinamex as a Chinese-themed retail mall. It will have a total leasable area of approximately 46,000m2.
Diyar Al Muharraq is the biggest private urban development project in the Kingdom of Bahrain.
Meanwhile, the company also announced that it had handed over the title deeds to the first three buyers of properties in the Sarat Residences district of the development, which were sold on the day they were placed on the market.