Manara unveils business community masterplan
Manama, July 14, 2009
Manara Developments, a leading Bahrain-based real estate developer, has unveiled the concept masterplan for a unique business and investment community with an estimated cost of $130 million for the first phase of the project.
Previously known as the Al Hidd Development project, Investment Gateway – Bahrain, envisioned by Manara Developments and designed by renowned master planners OBM International, is targeting development of various warehousing and logistics projects and services situated over the 60-hectare (600 thousand sq mt) site near the Al Hidd industrial area.
Following the recent completion of the concept master plan, with all design criteria and project components agreed by Amar Holding Company, the project owner, the detailed master plan is now being developed.
Enjoying close proximity to the new Khalifa bin Salman Port and Bahrain International Airport, as well as to the soon-to-be uninterrupted fast highway to the Saudi-Bahrain Causeway, the project will offer a combination of warehousing and logistics facilities.
It will also be complemented by a number of value-added business amenities including access to commercial office space, senior executive accommodation, labour accommodation, showrooms and big box retailers.
“We are pleased that the “Investment Gateway – Bahrain” masterplan has reached this advanced stage, and that it has done so on schedule along various project stages,” said Dr Hasan Al-Bastaki, managing director of Manara Developments.
“Upon completion, the project will represent a major step towards contributing to the country’s economic prosperity, through creating a well-integrated business community that will attract companies and encourage them to base their operations in Bahrain and ultimately create more rewarding job opportunities for Bahrainis and set to fuel the growing logistics sector in the kingdom and stimulate economic growth, in line with Bahrain’s Economic Vision 2030,” continued Dr. Al-Bastaki.
“The ‘Investment Gateway - Bahrain’ project design has been guided by Manara’s unique 'All Considered' approach which takes into account all related aspects of the project associated in the developments of all projects, where sustainability and environmentally friendly practices remain key factors in the inception and design of all the company’s projects.
“In this regard, we have submitted all requisite Environmental Reports for the ‘Investment Gateway - Bahrain’ project to the relevant authorities in Bahrain are expecting the final approvals shortly, enabling us to commence on site work as planned.”
He concluded: “The project is a strong addition to our already significant project portfolio, and is one that we are confident will enhance Bahrain’s economic and investment positioning regionally and internationally.” – TradeArabia News Service