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Al Areen Holding Company Signs a Technical Interface Agreement with Central Planning Office

CPO VISIT TUESDAY 23rd JUNE 2009

Mr. Dominic McPolin, Chief, Central Planning Office (CPO) Office of H.E. the Minister of Works and Minster in Charge of Electricity & Water Authority Ms. Iman Ansari, Head Advisory & Coordination, CPO

The current challenge for all large scale masterplan developments, not just in Bahrain but across the region, is to build confidence in the market.  Success is strongly linked to sound management practices, minimizing risks in the development process and, importantly, having clear understanding and support from the concerned government agencies.

The CPO has been given the responsibility under the Bahrain 2030 Economic Vision to hold infrastructure provides accountable for support of private sector investment in Bahrain’s economy.

In an effort to manage that support in a better and transparent manner, CPO has introduced the technical interface Agreement.  This agreement provides a clear demarcation of responsibilities between the developer and the government and in particular with regards to the infrastructure required to support these large scale investments.  These responsibilities are not only clear throughout the development stage, but also, post construction.

The Technical Interface Agreement requires the establishment of a permanent Technical Interface Office (TIO) which will represent the interests of the private sector masterplan in all transactions with infrastructure agencies.  The main feature of the TIO is that it is a commitment from the masterplan owners to establish an office that will survive the construction phase of the masterplan.  The TIO will be more than a facilities management office as it will be responsible for maintaining the integrity of the masterplan in the land use terms, phasing terms and in adherence to agreements.

CPO is looking for the strong technical interface and clear operational procedures and processes which allow the matching of development with the supporting infrastructure.

Al Areen has signed a formal Technical Interface Agreement with the Central Planning Office and has established a Technical Interface Office.

I am very impressed with the Al Areen management team.  They have fully embraced both the letter and spirit of the Technical Interface Agreement.  They continue to respond and, indeed, innovate within the framework of partnership created through the Technical Interface Agreement and the Al Areen TIO established under the framework.

When markets return to more stable growth, it is my sincere belief that these initiatives will stand as new benchmarks for large scale real estate project management not just in Bahrain but across the Gulf.