Manara launches $21m Bahrain project
Manama, June 26, 2010
Manara Developments Company, a Bahrain-based real estate development company with a diverse project portfolio, has announced the launch of two key housing projects worth BD8 million ($21.2 million).
The company said the projects - Tubli Gardens, and Kenaz Al Bahrain - will comprise 79 posh and modern villas in a prime location in the Kingdom.
Commenting on the launch, Manara managing director Dr. Hassan Al Bastaki said, the company had made an extensive research for a long time, and conducted many technical studies to identify the requirements of the markets.
'Manara conducted research to identify the needs of Bahraini and Gulf families before coming up with a concept for a housing project combining more than one component and feature, including privacy for Bahraini and Gulf families in design and construction, suitability of the villas to the surrounding environment and the geographical location by being in a readily accessible area, the availability of integrated services and infrastructure, in addition to an attractive and important factor, namely that the housing unit should be affordable to limited and middle income brackets of the society,' he added.
Dr Al Bastaki said, 'The two projects which we are launching today are part of eight projects Manara is developing, which are being carried out for multi-purposes, ranging between housing, freehold ownership and light industrial projects.'
He expressed confidence that 'Tubli Gardens' and 'Kenaz Al Bahrain' will meet with success and enthusiasm, given the various features they incorporate, making them the first choice for prospective investors and owners.
As regards prices of the villas, they begin from BD84,000, he added.
According to him, the projects are due for completion within 18 months from the actual commencement by leveling the lands of the two locations.
On the Tubli Gardens, Dr Al Bastaki said the project consists of 27 villas, called 'model villas' which are semi-attached. There are also bigger villas, which are called 'corner villas.'
Each villa consists of three rooms and two kitchens (internal and external), three bathrooms and halls besides parking for two cars and the possible construction for a swimming pool in the backyard of the villa.
Commenting on this, Dr. Al Bastaki said: 'The selection of the location of the Tubli Gardens project was well-studied, to make sure it is constructed in the Manama suburbs and accessible from the highway leading to King Fahad Causeway, with all amenities and services, making it a convenient place for living for both Bahrainis and Gulf nationals wishing to own properties in Bahrain.'
The second project 'Kenaz Al Bahrain,' which is located in Jeblat Hebshi (near Ishbiliya Project). The project consists of 52 modern villas targeting middle income people wishing to own properties that include privacy, luxuries and space at the same time, making them a preferred choice for them.
'Kenaz Al Bahrain comprises two types of villas: semi-attached villas (from the car garages only) and completely detached villas,' he noted.
'The project begins with villas which are 300 sq m in size, and they contain many features which make them comfortable and modern with multi-purposes in terms of its services and amenities,' he added.
Dr Al Bastaki said the Kenaz project will come up in a prime location, overlooking Shaikh Khalifa Bin Salman Highway, which is one of the most busy roads in Bahrain owing to its link to shopping and entertainment spots in the Seef District.
It also enjoys close proximity to Hamad Town, Budaiya Highway and the roads leading to King Fahad Causeway, he added.-TradeArabia News Service
More Construction & Real Estate Stories
- Jacky’s unveils new 3D printers
- Technip wins $400m Kuwait PMC contract
- Arab investors eyeing Turkish property
- Arabtec denies Drake merger speculation
- Saudi's ACWA signs $472m sukuk financing
- Qatar announces massive bridges project
- $49m home loans approved in Bahrain
- BlomInvest sees Makkah project on track
- Dubai show to unveil top Indian projects
- Imdaad renews FM contract with sports complex