business bites Bahrainthismonth.com 32 January 2024 BAHRAIN’S ECONOMY ACHIEVES REAL GROWTH OF 2.45 PERCENT IN Q3 OF 2023. CITY CENTRE BAHRAIN AWARDED LEED PLATINUM CERTIFICATIONS National accounts estimates issued by the Information & eGovernment Authority (iGA) reflect that the real GDP of Bahrain increased by 2.45 percent at constant prices and by 1.09 percent at current prices during the third quarter of 2023 compared to the same period in 2022. The Information & eGovernment Authority explained that the growth according to the detailed report is due to the increase achieved by the nonoil sector by 4.48 percent at constant prices and 4.81 percent at current prices on an annual basis, as the GDP at constant prices reached BD3,387.82 million during the third quarter of 2023 compared to BD3,306.71 million during the same period of 2022. The report pointed out that the financial corporations sector is one of the largest non-oil sectors contributing to the real GDP by 18.08 percent, followed by the manufacturing industry by 13.85 percent. On an annual basis, the highest non-oil sectors grew according to preliminary estimates of the national accounts, the hotel and restaurants activity with a growth rate of 9.36 percent, followed by financial corporations with a growth rate of 8.36 percent at constant prices. The shopping mall, communities, retail and leisure pioneer in the Middle East, Majid Al Futtaim, has received the prestigious Leadership in Energy and Environmental Design (LEED) Platinum certification for its flagship shopping mall in Bahrain – City Centre Bahrain. This recognition signifies the highest level of achievement in sustainable building practices within the LEED green building rating system, a globally recognised standard, reflecting Majid Al Futtaim’s ongoing commitment in the Bahrain market and beyond. The LEED Platinum Certification for City Centre Bahrain (with a total score of 84 points), located in Manama’s Seef District, has been awarded for Operations and Maintenance for Existing Buildings (LEED O+M: Existing Buildings) category. Majid Al Futtaim CEO– Asset Management, Khalifa Bin Braik, says: “This latest achievement is a testament to our years of hard work and dedication and also a result of our increased focus on sustainability, resulting in Majid Al Futtaim now having 20 LEED certified malls.” “Our commitment to sustainability is deeply ingrained in our operations, and these LEED Platinum Certifications reaffirm our dedication to providing environmentally responsible shopping experiences for our mall patrons,” he adds. Earlier this year, Majid Al Futtaim also announced its second Sustainability-Linked Loan (SLL), structured as a USD1.25 billion revolving credit facility (RCF) linked to the company’s environmental, social and governance (ESG) related targets.
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