Seef Properties, one of the leading real estate development companies in the Kingdom of Bahrain, signed an agreement with the Chinese company “Panda Industrial Management (Shenzhen)” to launch a new shopping center in the Kingdom.
The signing ceremony was attended by His Excellency Mr. Abdullah bin Adel Fakhro, Minister of Industry and Commerce, Mr. Issa Najibi, Chairman of the Board of Directors of Seef Properties Company, Mr. Ahmed Yousef, Executive Director of Seef Properties Company, Mr. Yousef Al Hammadi, Chairman of the Board of Directors of Muharraq Complex Company, and Dr. Chen Daiheng, Chairman of the Shenzhen Federation to encourage Youth entrepreneurship in China and a number of officials.
The center will constitute a prominent new commercial destination that will play a vital role in strengthening trade relations between the Kingdom of Bahrain and China. This agreement also represents a milestone in the efforts of the esteemed Government of Bahrain, led by the Ministry of Industry and Trade, to support global expansion and consolidate bilateral relations between the two countries. The center is Panda’s first project outside China.
It is noteworthy that Panda Industrial Management (Shenzhen) was founded in 2007 and specializes in the production and distribution of a wide range of Chinese industrial products and services. Its expansion into the Bahrain retail market comes within the framework of the Shenzhen government initiative aimed at empowering its youth and motivating them to explore fruitful global opportunities in promising markets similar to the Bahraini market. The project, which is supported by the Ministry of Industry and Trade, aims to achieve mutual benefits for both countries.
On this occasion, His Excellency Mr. Abdullah bin Adel Fakhro, Minister of Industry and Commerce, praised the advanced levels reached by Bahraini-Chinese relations that contributed to enhancing bilateral trade and expanding investment opportunities between the two friendly countries, noting in the same context the esteemed government’s keenness to strengthen its relations with the People’s Republic of China, which it considers A strategic and key partner in advancing the economic partnership process between the two friendly countries, noting that this agreement is one of the most important results of the recent visit to China last October, which will contribute to opening new and promising horizons of qualitative investment exchange between the two sides, expressing his happiness as he looks forward to the positive and fruitful results. And the opportunities that this agreement will provide to achieve the goals and desired results between the two sides.
Mr. Issa Najibi, Chairman of the Board of Directors of Seef Properties, said: “This agreement confirms our commitment to strengthening economic ties between Bahrain and China in line with the Kingdom’s goals in stimulating economic diversification and international cooperation in various sectors. This new project, which enjoys the support of the esteemed government of Bahrain, represents a gateway to trade.” “Bahraini Chinese Company is an important addition to our growing real estate portfolio. We look forward to the great opportunities and growth potential that this project will yield in Bahrain.”
For his part, Dr. Chen Daihing, President of the Shenzhen Federation for Promoting Youth Entrepreneurship in China, said: “This project represents a prominent milestone in our journey towards deepening the existing relations between China and the Gulf Cooperation Council countries, as we will provide various Chinese goods and services that aim to display our business philosophy.” “And to enhance cooperation between the two regions. We are pleased to sign this agreement with Seef Properties, which shares our vision based on enhancing efficiency and innovation, and we look forward to contributing a pivotal role in stimulating the growth of the vibrant retail sector in Bahrain.”
It is worth noting that this agreement comes in the wake of the visit of a high-level delegation from Bahrain to China in October, headed by His Excellency the Minister of Industry and Trade, which focused on strengthening economic ties and attracting huge investment projects to Bahrain. The visit was organized with the support of the Ministry and the Economic Development Board, and the delegation included a number of senior representatives from the public and private sectors in Bahrain, and included the cities of Guangzhou, Shenzhen and Beijing. China constitutes one of Bahrain’s five largest trading partners, as the volume of non-oil trade exchange between the two countries reached about $2.4 billion in 2022.
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