Bahrain plans $2.65bn new city
Manama, February 26, 2010
A BD1 billion ($2.65 billion) development near the Bahrain Financial Harbour could be given the official go-ahead next week. The massive project, located to the north of Bahrain City Centre in Seef, would cover an area of around 600,000sqm.
Councillors reviewing the Water Garden City project gave it the nod yesterday, but a full vote by the Manama Municipal Council is not expected until next Wednesday.
It is being spearheaded by the Albilad Real Estate Investment Company, which is planning to build around 100 multi-storey buildings within the project - containing everything from hotels to private schools and homes to shopping centres.
The investor has already agreed to cover the costs of new road, sewage, water and electricity networks for the development, which would also feature a public marina.
"We will this week negotiate with developers to allow fishermen to dock their boats at the project's jetty when ready - without forgetting to thank them for their support in rebuilding a temporary jetty for 60 fishermen near the Pearl Roundabout," council technical committee chairman Hameed Al Basri said on Thursday.-TradeArabia News Service