Public-private alliance 'key for top projects'
Manama, December 25, 2011
An effective partnership between the public and the private sectors will help enable Bahrain realise its strategy to complete development projects quickly, said Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa.
'This strategy will also maximise returns for everyone,' Shaikh Khalid said while opening Manara Developments' Janayin Al Hamala and Wahat Al Muharraq projects at the company's marketing centre in the Bahrain City Centre.
'The company, a leading property developer, satisfies citizen's needs by providing innovative housing solutions to those seeking units at affordable prices,' he said.
'The units offered by Manara meet the ever-growing demand for appropriate modern housing locally at suitable prices that reflect trendy designs and quality materials.'
Shaikh Khalid said the two new projects offered units representing a major leap forward in terms of design specifications for limited-income buyers.
'The current developments come as a result of growth in the construction industry in Bahrain and this must be harnessed with more offerings of housing projects.'
Manara Developments chairman Yousif Taqi said the attention and support of Shaikh Khalid is an extension of the government's efforts to consolidate co-operation between the private and the public sector.
'This will enable us to take continuous leaps forward to seek innovative solutions that would establish our solid contributions to housing in Bahrain, particularly in catering to the limited and middle-income groups.
Taqi said the real estate sector is amongst the liveliest and most prominent sectors in Bahrain.
'At Manara, we are keen to offer innovative real estate solutions.' He said more projects will be launched by the company in the near future.
'We are committed to our plans which position us as prominent industry leaders, and housing solutions providers, mainly catering for limited-income groups.'
Manara Developments managing director Dr Hassan Al Bastaki said Janayin Al Hamala will soon begin its first phase thus constructing 148 villas - 20 of which are individual villas, and 72 semi-connected villa's and 56 fully connected villas.
Dr Al Bastaki said the BD13.5 million ($35.8 million) development work will begin in March and the first phase will be ready by March 2014.
He said work on the BD20 million second phase of the Wahat Al Muharraq project consisting of 180 units will also begin in March, to conclude by March 2014.
'The units are positioned as the ideal choice for modern Bahraini families, especially with the recent government announcement to raise the borrowing ceiling to BD60,000,” he added. – TradeArabia News Service
More Construction & Real Estate Stories
- Tunelling experts to meet in Dubai
- New mortgage rules to drive UAE property boom
- Sub-Saharan real estate set for big growth
- Cluttons names professional services head
- Hill wins key Doha tower project
- Dubai wins Expo 2020 with HOK masterplan
- UAE property group to invest $54m in Turkey
- Industrial facility rents up in Abu Dhabi
- DB Schenker breaks ground on new Dubai facility
- Arabtec inks $1.2bn UAE hospital contract