Yusuf Bin Ahmed Kanoo Group (YBA Kanoo) which is one of the largest independent, family-owned groups of companies in the Gulf region, has signed a deal with Axa. In addition, Axa is the one of the largest international insurers in the GCC, for its new real estate development in Bahrain Bay.

The new building will be completed in summer of 2019. It will be located on the main island. The property will be 6.8 km from Bahrain International Airport.

Bahrain Bay is one of the kingdom’s most ambitious real estate developments in recent years. Easily accessible, the new seven-storey Axa building will consist of over 6,000 square metre of commercial space.

YBA Kanoo, said in statement, “Extensive work has been ongoing in the design, build and fit-out to craft not only a more comfortable work-environment for Axa’s Bahrain-based colleagues but also to provide a more customer centric location. The building has been designed with sustainability in mind and will feature rooftop solar panels and automated lighting controls.”

Nabeel Khalid Kanoo, a representative of YBA Kanoo, said that both parties are committed to supporting the kingdom’s economic development and will continue to co-operate with the Economic Development Board of Bahrain.

He added, this MoU is a testament to the two groups’ shared vision of collaboration and long-term business ventures, drawing on the strengths of their well-established partnership in Bahrain.

Cédric Charpentier, CEO of Axa Gulf said: “I am proud of our strong legacy with the Kanoo family spanning several decades and this building reflects not only the ambitious spirit of our partnership, but also strengthens our commitment to the kingdom and the region as a whole.”

Source: Trade Arabia

Fulya Altunyay/[email protected]