Sakana starts piling at freehold project
Manama, February 23, 2009
Sakana Holistic Housing Solutions announced today (February 23) that piling commenced recently in Nasmah West, a 25-storey residential development in Juffair, Bahrain.
A freehold project, which is being developed by RMK Projects (a division of RM Kooheji & Sons), the residential tower will offer 124 apartments to Bahraini and GCC nationals as well as expatriates – all at highly competitive rates. The project is expected to be completed by December 2010.
“Despite current market conditions, we believe that we have an extremely attractive proposition to offer to customers – quality apartments at affordable prices, reputed developer, backed by competitive mortgage financing up to 90 per cent of property value and up to 30 years term,” said R Lakshmanan, chief executive officer of Sakana. “The successful launch of Nasmah tower, Sakana’s first venture under its property consultancy arm in partnership with RMK Projects, prompted the development of Nasmah West.”
Ishaq Rashid Al Kooheji, president and CEO of RMK Projects said: “Despite the uncertainty in the market, Nasmah West, located in the popular residential area of Juffair, is a hot spot for customers to own freehold apartments either to live or to rent. The project provides housing solutions for the vast number of middle class customers who have been underserved in the market.”
The tower consists entirely of two-bedroom apartments, each with a balcony and offering either city or seaside views. The building has a rooftop swimming pool, a fully-equipped fitness centre, squash court, party hall and a 24-hour security and facilities management services. – TradeArabia News Service