Affordable homes planned for Bahrain
Manama, April 19, 2011
A BD200 million ($530 million) plan to build nearly 4,000 'affordable' housing units in Bahrain has been unveiled.
Villas and apartments at the mega project by Bahraini company Manara Developments will be available at six different locations and will be ready by the end of 2015, said managing director Dr Hasan Al Bastaki.
He said construction was ongoing or would begin soon at new Tubli Gardens, Janayin Al Hamala, Wahat Al Muharraq and The Bridge as well as Kenaz Al Bahrain in Jiblat Habashi and Darari near Durrat Al Bahrain.
'We have completed strategic plans to build 3,845 housing units, including 2,300 villas, with a minimum of three bedrooms each, and with prices starting at BD45,000,' Dr Al Bastaki told a Press conference at the company's Bahrain World Trade Centre headquarters, Manama.
'Construction is already well under way at the Tubli project, while it is set to begin elsewhere in the next few months.'
He said the company is also looking at the projects in collaboration with the private and the semi-government sectors.
'This is part of our efforts at promoting co-operation between the private and public sectors and to satisfy the population's demands for affordable housing,' said Dr Al Bastaki.
He said they were mostly targeting those with average to above middle level incomes.
'We have conducted several surveys, which indicate there is an ever-increasing demand for housing units for personal use in Bahrain,' said Dr Al Bastaki.
He said Manara had the ability to manage diverse projects across the country simultaneously, which was testimony to its reputation.
'We are now working with investors and partners is to ensure all units remain highly-affordable,' said Dr Al Bastaki.
'The idea is to make these affordable for most of the population of Bahrainis and Gulf nationals who would want to buy into the properties.'
He said the success of the ongoing Tubli Gardens project made the company think of diversifying into other developments.
'Janayin Al Hamala is one of the biggest in Bahrain, which will offer different choices of housing units, including detached and semi-detached villas,' said Dr Al Bastaki.
'This is being developed in stages and it is expected that it will see high demand due to its prime location, affordable prices and custom-made design,' he said.
Wahat Al Muharraq and The Bridge are in close proximity to Shaikh Khalifa Bin Salman Causeway and have innovative and unique features in terms of design, and location, said Dr Al Bastaki.
Kenaz Al Bahrain, also currently under development, will be an attraction for middle income families since it is located close to Jiblat Habashi, near Manama, he added.
'Darari, close to Durrat Al Bahrain, is ideal for those who wished to live far away from the hustle and bustle of the city,' said Dr Al Bastaki.-TradeArabia News Service