The honour of the 2006 Gulf Air Bahrain Grand Prix being the first race of a new era in the sport is something for Bahrain to celebrate and the international community to look forward to. It is recognition that the vision of His Highness the Crown Prince Shaikh Salman bin Hamad bin Isa Al Khalifa to use the Grand Prix and the business focus that it generates as a catalyst to generate trade, tourism and awareness is also a reality.

Formula One presents a unique opportunity to harness the minds of the world’s opinion leaders and formers and those taking multi-million dollar decisions towards Bahrain as a catalyst to develop new business. As a result the continued developments throughout the Kingdom of Bahrain are set to shine as the world’s attention is turned to the start of the 2006 FIA Formula One World Championship at the Gulf Air Bahrain Grand Prix.

A globally-oriented country with a distinctly local flavour, the Kingdom of Bahrain has witnessed leaps and bounds in its development over the past four decades. Having established itself as the undisputed financial centre of the Arabian Gulf region, and now moving towards becoming the region's knowledge-based services hub, Bahrain's progressive outlook and international perspective are reflected in its social and economic diversity.

Being the first country in the Gulf to exploit commercial quantities of oil in the early 1930s, Bahrain was also the first to actively develop non-oil industries by which sustainable development could be achieved. Today, Bahrain boasts a number of well-established, non-oil dependent industries, as well as the infrastructure needed to sustain them. The relentless pace of progress in the Kingdom of Bahrain has already attracted significant attention among returning visitors from the world of Formula One and beyond.

Among the most significant developments in the past 12 months include:

Financial Harbour

The Bahrain Financial Harbour is a master-planned integrated financial community on the seafront in the Kingdom of Bahrain’s capital city, Manama, with a diverse range of Commercial, Residential & Leisure components. The $1.3 billion project aims to bring together a technologically astute, sophisticated business community of reputable international as well as regional financial institutions and business ventures in Bahrain; firmly establishing Bahrain as the International centre of Finance in the Middle East.

Bahrain World Trade Centre:

Located on the Bahrain Commercial Complex site and adjacent to the Sheraton Hotel in the heart of Manama, construction is underway for a new landmark office and retail development. To be branded and operated as the Bahrain World Trade Centre, completion is planned for summer 2006. A prestigious landmark for any country, the Bahrain World Trade Centre will have a particularly high profile in the Kingdom and add prominence to the Manama skyline. Its unique design comprising two 50 storey iconic towers of pointed glass and steel twin towers will become the tallest buildings in central Manama.

Durrat Al Bahrain

Jointly owned by the Kingdom of Bahrain's Government and Kuwait Finance House (Bahrain), this development is named after the most perfect pearl and sets out to be a model city resort of life as it should be in the 21st century. The character and design of Durrat Al Bahrain will reflect the highest quality of design principles and will set a new standard for urban development in the Kingdom. This 20sq.km. seaside city resort, located on the south coast of Bahrain, will include 13 different islands with over 2,000 villas, more than 3,000 apartments, luxury hotels, restaurants, promenades, shopping centres, spas, a planned 450-berth marina, and a proposed golf course among its many sports facilities. Plans for ongoing development will evolve according to the city's needs and wants.

Bahrain City Centre

A BD150 million urban shopping and entertainment project, Bahrain City Centre, is to be launched in Manama. The project, which will house the Middle East’s largest 20-screen Cineco Cinema, more than 350 stores features a 54,000 square foot family entertainment centre, called Magic Planet, two hotels with a total of 700 rooms and the Middle East’s largest Water Park.

Al Areen

The US$ 750 million Al Areen development is a vast and luxurious mixed-use health and family tourism development, located in the southern region of the Kingdom of Bahrain, next to the Al Areen Wildlife Sanctuary and close to the Bahrain International Circuit. Anchored around a spa and resort, the project will develop a two-million square metre desert area to provide over two thousand five hundred villas and apartments, a large shopping mall, and hotels. The site is located within a thirty-five minute drive from the Bahrain International Airport, and is approximately twenty minutes from the King Fahad Causeway and the central business district.

The Banyan Tree Desert Spa and Resort at Al Areen will become the only all-villa private pool resort in the Arabian Gulf and one of the Middle East’s most luxurious hideaways. The Lost Paradise of Dilmun Water Park will cover more than 45,000 square metres, and is estimated to attract over 200,000 visitors per year. Designed to showcase Bahrain's long and rich history, the development is spread across approximately 80,000 square meters, adjacent to the shopping mall complex within Al Areen, a luxurious five-star hotel and the Al Areen Wildlife Sanctuary.

BIC