In a time when the world has slowed down as a result of the global pandemic COVID-19, the Kingdom’s most iconic landmarks, Bahrain World Trade Center (BWTC) and high-end shopping destination, MODA Mall, remain resilient in these challenging times.
Commercial real estate and the retail sector have been under pressure for the past couple of months amid COVID-19. The pandemic has disrupted the socio-economic landscape forcing many industries to adapt and quickly shift their strategies towards a more innovative approach to maintain and enhance operations. BWTC and MODA Mall embraced this challenge by quickly adapting to the new normal, enforcing all necessary safety measures while continuing to launch customer focused campaigns.
Deputy General Manager, BWTC and MODA Mall Chris Gibson said, “When the Kingdom of Bahrain was hit by COVID-19, the government moved very swiftly to put measures in place that would support the society and sectors that were affected. The support that was provided by the government throughout this period has reinforced the Kingdom’s capability in handling such a crisis.”
“Emerging global trends have shown that every sector has been affected, further impacting market dynamics. Businesses have had to review their requirements as a result, we have seen that office rentals have adapted to flexible working environments with an increased shift towards working from home. However, offices in high-end segments remain robust with a minor decline of 1.4% year-on-year, and we are proud to announce that Grade A developments such as BWTC have continued to hold an occupancy rate of over 90%.” added Mr. Gibson
The retail sector was already going through transformation pre-COVID-19 with global trends and technological advancements revolutionizing the retail sector. While online shopping has not reached the same level as seen in more mature markets, it has still impacted the local retail market with an increase in vacancy levels in prime assets. MODA Mall together with its Retailers are working hard to adapt their business models to provide safe, accessible shopping environments as consumers regain confidence and look to explore more tangible shopping experiences.
MODA Mall continued to launch campaigns that were rewarding for customers, taking into consideration all precautionary measures, such as its Shop & Win campaign launched in September to mid-October where customers were encouraged to safely shop for a chance to win weekly shopping vouchers and a grand prize.
In anticipation of the upcoming National Day, BWTC launched a unique photography competition to celebrate the Kingdom by showcasing the spirit of Bahrain through the nation’s eyes. The competition is a platform for professional and amateur photographers across the country to showcase their photography skills, with 12 finalists having the opportunity to display their work in an public exhibition to be held in MODA Mall from the 1st December through to National Day where 2 lucky winners will have the chance of winning Shopping Vouchers as part of the Grand Prize to be announced on the 20th December 2020.
The BWTC with its award-winning state-of-the-art design makes a picture perfect subject for the competition. As the first building in the world to combine commercial wind turbines into architecture, helping reduce the overall power consumption of the towers, the 50-storey building has contributed to sustainable architecture. The BWTC is a world-class business address, home to some of the most exclusive organizations across the region and the world, attracted by its prime location and high-tech infrastructure. The adjoining luxury MODA Mall ensures a perfect blend of lifestyle and business in one convenient location.