Construction work has started on Takhzeen Warehousing and Storage Company’s US$15 million self storage project in the Kingdom of Bahrain.
The company, which is a strategic alliance between Tamer, Al Muthana Investment Company and Al Khawari Group, was launched with an authorised capital of US$50 million and a paid up capital of $10 million. Its mandate is to develop, manage, and operate self-storage facilities for domestic and business use starting in Bahrain and expanding throughout the Middle East.
“The strategic direction in the short-term for Takhzeen encompasses tapping into various sectors within the warehousing and logistics industry and expanding regionally in order to enhance the company’s business plan and diversify its revenue streams,” stated Murad Al Ramadan, managing director of Takhzeen.
“Ground works commenced last month on a land area of 20,000m2 consisting of two identical buildings, which would ultimately provide 1600 storage units, to be constructed in a record time of 10 months. The storage units will vary in size from 2 to 30 square metres in order to cater to the differing storage demands of individuals and businesses; from the likes of appliances, furniture, cars, machinery, equipment, and boats, to document files, records, and business archives.”
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