This strategic and aggressive move will fortify Engel & Voelkers for its regional growth in the Middle East.
The license for agency services in the premium residential segment is acquired by an influential entrepreneur, Mohammed Adel Fakhro, who plan to open the first Engel & Voelkers branch office in downtown Manama, Bahrain’s capital, in approximately six months. A Bahrain national, Adel Fakhro was educated in the United States majoring in Economics and Finance. His entrepreneurship was shown early in successfully managing his family business, Abdulla Yousif Fakhro Group, under which there are various business lines, including electronics, food & beverages, transportation and commercial services. “I’m pleased to have Mohammed Adel Fakhro to represent Engel & Voelkers in Bahrain,” commented Debbie Baertschi, Managing Director of Engel & Voelkers Middle East. “His excellent proven track record in running a franchise business will definitely make a great contribution to the success of Engel & Voelkers in the region.”
The Kingdom of Bahrain is an island country in the Persian Gulf, with Saudi Arabia on the west connected by the 23km King Fahd Causeway and Qatar to the south across the Gulf of Bahrain. The planned Qatar-Bahrain Friendship Bridge is going to be the longest fixed road link in the world. Blessed with its 33 islands and the Bahrain International Circuit for the Formula One, Bahrain offers great potential as both a regional and a world tourist destination, a cosmopolitan capital city, an attractive liberal lifestyle and a rich history and culture.
Bahrain is experiencing an economic boom, with new development projects, like Bahrain Bay, City Centre Mall, Al Areen, Amwaj Islands and Durrat Al Bahrain opening up Bahrain to a wider market. The Amwaj Islands is the first freehold development in Bahrain. Costing Euro 27.6 billion, the project is a series of man-made islands, including four main residential islands and a theme park island, 30 office towers, a waterfront shopping mall, five star hotels, an amusement park, entertainment facilities and a marina. Attracted by the potential projects like these, more and more international names are now coming to Bahrain, such as Four Seasons, Engel & Voelkers, Kempinski and Renaissance.
