www.bahrainthismonth.com business bites 44 December 2021 Upgrading Bahrainis’ training and qualifications could empower them to contribute to timely technical developments around the world while ensuring that they continue to be an asset to the labour market where many traditional jobs are disappearing and new jobs linked to the industry 4.0 are emerging. “Facebook’s statement of its desire to transform to ‘Metaverse’ technology provides insight into the future structure of the global labour market and corporate world,” explains Chairman of the Bahrain Society of Private Training Institutes, and Human development expert, Nawaf Mohammed Al Jishi. “It is critical for Bahraini youth to master advanced technologies such as VR and AR, while teaching them to produce and use this technology in fields such as education, video games, and media, in order to boost Bahrain’s share of the global virtual reality industry, which is worth billions of dollars,” he adds. Bahraini talent with a sound knowledge of modern technologies have been in demand at Bahraini commercial organisations including engineering design offices and industrial businesses dealing in oil and gas, real estate, and more. If Mark Zuckerberg’s ambitions are fulfilled, future generations will live and work in the ‘Metaverse’ platform, which could become the most significant technical platform since the rise of the internet. METAVERSE -An Insight into Labour Market Changes GFH Financial Group (GFH or the Group) has announced its successful investment in a portfolio of high quality, income yielding logistics assets leased to Amazon. In a transaction currently valued at more than US$2 billion, the portfolio, comprised of 14 mission-critical logistics assets strategically located in 11 states, is fully leased on a long-term basis to the global e-commerce giant. “The 14 assets are strategically located, purpose-built and state-of-the-art, enabling Amazon to effectively streamline the flow and delivery of goods to its massive and ever-expanding customer base across the US. We look forward to working with our industry partners in this transaction to maximise the value of the portfolio and continue to look for other opportunities to build our presence in the logistics segment of the real estate market both in the US and Europe,” says GFH Co-Chief Investment Officer – Real Estate, Nael Mustafa. Totalling more than 11 million sq. ft. of prime space, the investment sees GFH expand its portfolio of logistics assets in the US. GFH’s investment drive is based on long-term fundamentals supported by the continued growth of e-commerce, evolution of supply chain logistics and inadequate supply with construction unable to meet the current or projected requirements of the industry. Demand for warehousing space has outstripped new supply by 41 million sq. ft. in Q3 2021 as e-commerce continues to grow in the post-pandemic era. The investment by GFH was made in partnership with Preylock Holdings, alongside a club of highly reputable multi-national institutional investment firms. Bahrain British Business Forum (BBBF) held its Annual General Meeting at the Gulf Hotel, attended by the British Ambassador to Bahrain, HE Roddy Drummond. The meeting was highlighted by the re-election of a majority of the current committee members and the addition of one new committee member for the 2021 - 2023 term. BBBF Deputy Chair, Paula Boast, opened the proceedings and OBE, BBBF Chairman, Khalid Al Zayani, summarised the forum’s activities during the year and outlined the BBBF’s financial highlights through his annual report. The executive committee members for the next term are: Khalid Al Zayani OBE, Chairman; Paula Boast, Deputy Chair; Phillip Solarski, Treasurer; Nasser Al Arayedh, Honorary Secretary; Ava Garbutt, Committee Member; Mark Gravener, Committee Member; Maureen Bannerman, Committee Member (new); Mike Jackson, Committee Member; Zee Bassila, Committee Member and Dena Wales, BBBF Executive Manager. Under the challenging conditions brought on by the global pandemic during 2020 and the first half of 2021, the BBBF shifted its networking meetings online, arranging numerous online events and collaborations with other networking organisations in the region. The forum’s online meetings were successful during the year, featuring high-profile speakers from local businesses and government entities, including ministers, and business and community leaders, from Bahrain and the UK. ACQUIRING A USD2 BILLION PORTFOLIO THE NEW BAHRAIN BRITISH BUSINESS FORUM EXECUTIVE COMMITTEE
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