Sunset Hills units to be ready by 2010 end
Manama, March 14, 2010
Sunset Hills development in Al Areen is to be completed on time and handed over by the end of the year, officials have announced.
Eighty per cent of the overall construction work has been completed and 50 per cent of the $100 million development project has already been sold, said Abu Dhabi Investment House real estate sales and leasing head Ahmed Habib.
The mixed-use freehold development located at the southern gateway of Al Areen comprises deluxe villas, townhouses and luxury apartments.
'Fifty per cent of the total project area has been sold, all of the villas and townhouses have been sold and there are only apartments left, this area is very popular,' said Habib at a Press conference at Al Areen Homes yesterday.
'Construction began at the start of 2008 and we expect to hand over the development by the end of the year.
'With more than 80 per cent of the construction completed, we are delivering as promised to our investors and unit owners.'
When completed Sunset Hills will house 300 real estate units, including villas, town houses and luxury apartments.
In an area that has been master-planned by the government of Bahrain, and with a strategic location near the main planned transportation lines, including a ring road, that are currently under development, Sunset Hills will enjoy easy accessibility and a life-friendly environment.
Commercial outlets will be available both in Sunset Hills and the Al Areen area at large, enabling home-owners to have convenient access to their needs.
Nearby attractions, including the wildlife park, water park, Equestrian City, Banyan Tree Desert Spa and Resort and the Bahrain International Circuit, are just minutes away from the property development, providing entertainment options that cater to a wide variety of interests.
Sunset Hills is one of Abu Dhabi Investment House's projects in addition to Al Areen Homes which is also located within Al Areen Development.
Al Areen Homes is a $30 million luxurious development offering 40 modern villas where the model home is available for viewing. Villas are now available for leasing through the recently appointed leasing company Remax.
Habib said 70 per cent of the development would be leased while 30 per cent of the freehold project would be sold.
'Remax is managing the leasing and we have lots of demand from surrounding companies,' he said.
'Ninety per cent of Al Areen Homes is complete and we anticipate to hand it over by June. We are leasing most of Al Areen Homes because of the downturn in the market.
'But even in the boom time villas and townhouses were being sold at reasonable rates. We are also now releasing apartments at corrected prices for the market.'-TradeArabia News Service