Porta Reef to hand over units by year-end
Manama, October 5, 2009
Porta Reef Real Estate Development Company will be ready to hand over units to owners by end of the year, with construction work by Al Kooheji Construction ahead of schedule and almost completed.
'We are delighted to see that the project is going ahead of schedule where progress is significant,' said Porta Reef chairman Fawaz Ali Al Jowder.
'We aim to provide the best services to assist in answering the continuous demand for high-quality residential units. I would like to thank all our strategic partners who helped in making Porta Reef a reality and meet client expectations.'
'Porta Reef is the first project to offer freehold ownership on Reef Island,' said Porta Reef head of sales Ahmed Habib.
'We have especially ensured that investors and owners alike receive added value to their investment.'
Porta Reef is a $90 million project, which includes three residential 10-storey towers.
The towers comprise 126 two-bedroom, 57 three-bedroom deluxe apartments, and six premium penthouse apartments that truly represent the definition of luxury.
Each unit also has a balcony, and residents will have access to a sea-view swimming pool and jacuzzi, as well as separate gym facilities for men and women equipped with the most innovative exercise equipment.
A fully-furnished model unit was launched in June this year for potential buyers and investors to view.
Reef Island is a strategic joint venture between the government of Bahrain and the Mouawad Group for Real Estate Development Company.
It aims to attract high-net worth property investors from Bahrain as well as GCC residents who are looking for a distinctive second home.
The $1.25 billion freehold development project covers an area of just under 600,000 sq/m, of which Porta Reef occupies just over 16,000sq/m.-TradeArabia News Service