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Major lease agreement signed with The Bank of Tokyo- Mitsubishi UFJ, Ltd
Manama, Bahrain, December 3, 2008: Bahrain Financial Harbour (BFH) further consolidated its position as the Kingdom's premier international financial focal point following the signing of a tenancy agreement with Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU), a group company of Mitsubishi UFJ Financial Group (MUFG), one of the world's largest and most diversified financial groups. The tenancy agreement was finalised by Mr. Salwan Uchi, Marketing Director of Bahrain Financial Harbour Holding Company (BFHHC) and Mr. Norihiko Kato, Regional Head of the Middle East. BTMU. As per the terms of the agreement, BTMU will occupy the entire 26th floor of the West Tower of BFH's Financial Centre, covering an area of over 1000 sq m.
Conceived to enhance Bahrain's reputation as the financial capital of the Middle East, BFH's tenant mix reveals that this US$3 billion integrated hi-tech financial services development is truly developing into a national project that is a model for the future.
Welcoming the presence of Japan's leading bank at BFH, Mr. Uchi said, "The Bank of Tokyo-Mitsubishi UFJ, Ltd is an institution that has a rich heritage stretching back 90 years. As one of Japan's leading banks and an emerging player on the global front with a strong worldwide network, BTMU's decision to use BFH as a platform for its regional operations marks a major step forward for us. The growing list of international financial institutions that are opting for BFH as their regional base
reflects the success of our initiatives to develop the Financial Centre into a world class environment for international finance and banking."
This was an opinion seconded by Mr. Kato, "We have an extensive international network of branches in all major financial centres of the world and we are confident that this landmark development will provide the ideal platform to catalyse our operations in the Middle East region. Bahrain, with its young and well-educated population, is a rapidly developing capital market and the financial hub of the region and we are highly optimistic about our future prospects here."
Based in Tokyo, BTMU is the premier commercial banking arm of Mitsubishi UFJ Financial Group, Inc. (MUFG), a highly diversified financial group that is Japan's largest financial services company measured by assets. With a capital of ¥ 996.9 billion, BTMU offers a wide array of financial products and services to businesses, governments and private individuals. As of March 31, 2008, the bank had 786 domestic branches and 75 overseas branches.
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Note to the editor
About BFH
A fully integrated, master-planned development, the US$ 3 billion Bahrain Financial Harbour (BFH), is creating a complete financial city, a self contained community and reinforcing Bahrain's unsurpassed position as the financial capital of the Middle East. A first of its kind development in the region, BFH is a highly focused, committed and advanced financial environment spread over 380,000 square metres of prime seafront property in the centre of Manama, Kingdom of Bahrain. Furthermore, it comprises of 10 projects that uniquely combines business, leisure and residential components under one canopy. Phase I of the project ‘The Financial Centre' which includes the Harbour Towers - Bahrain's tallest towers and the Harbour Mall. The Financial Centre is operational and open for business.
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