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$100m Dragon City opens

Bahrain News

Sandeep Singh GrewalMon, 28 Dec 2015Mon, 28 Dec 2015

Bahrain: Up to 50,000 extra cars are predicted to enter Bahrain every day thanks to a landmark $100 million shopping centre that opened its doors yesterday. Dragon City, at Diyar Al Muharraq, boasts more than 747 wholesale and commercial outlets showcasing a wide range of products. Already dubbed Bahrain’s “China Town”, the 115,000 square metre project features an Asian Dining Street and a car park with 1,500 spaces – in addition to the main Dragon Mall.

It was opened by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, who toured the shopping complex accompanied by ministers, MPs, diplomats and a high-level Chinese business delegation. The project got underway in May 2012 as a result of an agreement signed between Diyar Al Muharraq and Chinese company Chinamex, with construction work awarded to Nass Contracting.

Prominent businessman Mahmood Al Kooheji, who is chief executive of Bahrain’s sovereign wealth fund Mumtalakat, said the project should attract a great many visitors from the GCC and boost investment. “This project will significantly add value and make Bahrain a regional hub for trade and logistics,” he told the GDN.

“The banking sector in Bahrain is regulated and transparent which makes it easy to do business here and I think this is a big opportunity which is especially promising for the logistic sector.” Mr Al Kooheji predicted an “increasing flow of goods” as Bahrain establishes itself “as the logistics hub for the region”, with more jobs created and the national economy benefiting from such projects.

Meanwhile, Bahrain Chamber of Commerce and Industry (BCCI) board member Abdulhakim Al Shammary said he expected the number of Saudi visitors entering via the King Fahad Causeway to double thanks to the mall. “There are around 50,000 vehicles entering Bahrain daily and this number will reach 100,000 because of Dragon City,” he said. “They will come especially from the Eastern Province where many families live who will be interested in visiting the shopping centre. “We can expect a big boost for tourism because of this project and we appreciate the company allocating 20 per cent of the retail space for Bahraini traders.”

Already boasting around 95pc occupancy, the mall is infused with Chinese-inspired architecture and has its shops divided up into nine different categories, which are electronics, sports and leisure, textile and garments, children’s fashion, home furnishing, building materials, machinery and hardware, lightings and furniture, and kitchenware. Diyar Al Muharraq chairman Abdulhakeen Al Khayyat predicted that Dragon City would “massively stimulate” Bahrain’s economy.

“It will create a considerable number of job opportunities, exponentially increasing the flow of business into the country and further highlighting Bahrain’s ever-increasing lucrative investment options,” he said. The complex also includes a 4,5000sqm warehouse used for storage and 300 apartments to house shop staff. Bahraini traders had earlier raised concerns about the effect that the new mall might have on their businesses, with a petition raised in 2013 agonising over the fact that Chinese goods might flood the market, undercutting them on prices.

However, BCCI board member Khalid Al Amin said yesterday that small and medium enterprises (SMEs) should not be concerned.

“The Chinese products sold in the mall are different to those already on sale.” “I do not think it will affect SMEs, but instead increase trade and open the market for Bahrain,” he said. In celebration of the grand opening of Dragon City, Chinamex is holding a three-day festival with artist performances and Chinese branded car raffles.

A taxi stand has also been set up at the shopping centre to encourage visitors. The mall is open from 10am to 10pm from Saturday to Wednesday and 10am to midnight on weekends. For more information, visit www.dragoncitybahrain.com

Enter the Dragon

Mega projects like Dragon City reflect growing investor confidence in the strength of Bahrain’s economy, said the Premier yesterday. His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa affirmed that Diyar Al Muharraq’s Dragon City is also the fruitful outcome of outstanding Bahraini-Chinese relations, and the result of Bahrain’s prestigious reputation as a country with a successful investment atmosphere. He was speaking as he patronised the opening ceremony of the Chinese Dragon City in Diyar Al Muharraq. The Premier officially opened the huge project, built by Diyar Al Muharraq on a total land area of 115,000sqm at a cost of $100 million.

It includes more than 747 wholesale and retail stores. A documentary film highlighting the Premier’s support for investment in Bahrain and his keenness to motivate the private sector to have its ample share in business activities in the kingdom was screened. The Premier toured Dragon City and was informed about its stores and shopping areas. “Such projects consolidate the kingdom’s competitive potential in attracting more capital, which supports the government’s aim to diversify sources of income,” the Premier said. Diyar Al Muharraq chairman Abdulhakeem Alkhayyat thanked the Prime Minister for patronising the inauguration ceromony. He lauded the Premier’s constant support for development projects in the kingdom.

Mr Alkhayyat also hailed the Premier’s directives to provide more facilities to the private sector to launch projects that stimulate the national economy to achieve higher growth rates. Dragon City includes Dragon Mall and a themed Dining Village.

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