Venture Logistic Properties (Park Plaza Project, Diplomatic Area, Manama, Kingdom of Bahrain
In November 2006, VCBank launched a new investment product for its investors through the private placement offering of Venture Logistic Properties to indirectly own a majority stake in the equity portion of the US$ 40 million Park Plaza Project. This product yields quarterly current cash returns averaging 9.5 per cent annualy. Venture Logistic Properties is a dedicated investment vehicle that was established for the purpose of investing in the shares of Gulf Projects Company, a Bahrain-based limited liability company.
Gulf Projects Company's main portfolio currently comprises Park Plaza, a sole asset combining offices, retail outlets, and a car park. Park Plaza is situated in Bahrain's prominent Diplomatic Area, which has served as the prestigious business and finance district in the Kingdom of Bahrain for more than three decades. As part of its main strategy, Gulf Projects Company is actively on the lookout for similar opportunities, both inside and outside Bahrain.
It is expected that, through developing a sole property project only, namely Park Plaza, Venture Logistic Properties will realise an annual internal rate of return (IRR) estimated at 15 per cent during the investment period extended over nearly five years, while investors will enjoy an average cash yield of around 9.5 per cent per annum, payable quarterly over the investment term.
The entry of Venture Capital Bank into the Gulf Project Company in 2005 marked an inflection point in the life of the Company, with a change in its business scope and a capital increase to enable the company to pursue more ambitious ventures in the form of themed real estate assets with operational and logistical angles. VC Bank, with the help of an impressive line-up of renowned advisors and consultants, successfully managed to re-define the core business of the company and put in place the required capital and financing structure, as well as introducing state-of-the-art corporate governance and operational best practices.
As such, Gulf Project Company serves as a successful turnaround story for small and medium sized enterprises, and a practical illustration of investment in the growth potential of enterprises pursing specialised themes and business concepts. Due to exceptional demand and within only one month from the initial launch of this investment opportunity, VC Bank was able to announce the official closing of the Park Plaza offering that was oversubscribed. The demand for the product enhances Venture Logistic Properties’ mandate and indicates the vitality of the Park Plaza as a permanent solution to much needed car parking and retail outlets in the Diplomatic Area of Manama. The development is fully pre-let, with the official opening scheduled for the second half of 2007.
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In November 2006, VCBank launched a new investment product for its investors through the private placement offering of Venture Logistic Properties to indirectly own a majority stake in the equity portion of the US$ 40 million Park Plaza Project. This product yields quarterly current cash returns averaging 9.5 per cent annualy. Venture Logistic Properties is a dedicated investment vehicle that was established for the purpose of investing in the shares of Gulf Projects Company, a Bahrain-based limited liability company.
Gulf Projects Company's main portfolio currently comprises Park Plaza, a sole asset combining offices, retail outlets, and a car park. Park Plaza is situated in Bahrain's prominent Diplomatic Area, which has served as the prestigious business and finance district in the Kingdom of Bahrain for more than three decades. As part of its main strategy, Gulf Projects Company is actively on the lookout for similar opportunities, both inside and outside Bahrain.
It is expected that, through developing a sole property project only, namely Park Plaza, Venture Logistic Properties will realise an annual internal rate of return (IRR) estimated at 15 per cent during the investment period extended over nearly five years, while investors will enjoy an average cash yield of around 9.5 per cent per annum, payable quarterly over the investment term.
The entry of Venture Capital Bank into the Gulf Project Company in 2005 marked an inflection point in the life of the Company, with a change in its business scope and a capital increase to enable the company to pursue more ambitious ventures in the form of themed real estate assets with operational and logistical angles. VC Bank, with the help of an impressive line-up of renowned advisors and consultants, successfully managed to re-define the core business of the company and put in place the required capital and financing structure, as well as introducing state-of-the-art corporate governance and operational best practices.
As such, Gulf Project Company serves as a successful turnaround story for small and medium sized enterprises, and a practical illustration of investment in the growth potential of enterprises pursing specialised themes and business concepts. Due to exceptional demand and within only one month from the initial launch of this investment opportunity, VC Bank was able to announce the official closing of the Park Plaza offering that was oversubscribed. The demand for the product enhances Venture Logistic Properties’ mandate and indicates the vitality of the Park Plaza as a permanent solution to much needed car parking and retail outlets in the Diplomatic Area of Manama. The development is fully pre-let, with the official opening scheduled for the second half of 2007.
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