Bahrain's General Organisation of Sea Ports (GOP) has announced that it has completed its book-building exercise of applications by local companies for tenancy at the Bahrain Logistics Zone.
Earlier the application deadline was extended to accommodate an overwhelming response from these companies.
An evaluation committee will now start evaluating all applications received to ensure that companies that get selected best fit the criteria designed to maximise the objectives of the zone. The process is expected to take 45 days after which point companies will be informed whether they have been accepted, waitlisted or rejected.
Bahrain Logistics Zone is the region's first boutique logistics zone, and, as part of the government's economic strategy of business friendliness, has been designed to offer a full range of services that are particularly relevant to the logistics activities carried out by its tenants. Potential tenants are carefully chosen based on a rigorous selection procedure informed by the GOP's strategy and designed by global management consultancy company AT Kearney.
"We have already received applications that are far in excess of the number of plots available for lease. But we are not interested merely in filling the space – we want to attract tenants who are the best fit for the Bahrain Logistics Zone's excellent offering. This includes companies of impeccable standing that offer value-adding logistics services and operations," said Hassan Ali Al Majed, director general of GOP.
When complete, the Bahrain Logistics Zone will be fully integrated with Bahrain's new Khalifa bin Salman port, which will have a capacity of 2.5 million TEUs.
The Bahrain Logistics Zone is close to the causeway linking Bahrain to Saudi Arabia and the proposed causeway to Qatar, as well as to Bahrain International Airport, making it perfectly positioned as a multimodal logistics hub for the region.