Work begins on Bahrain's new 128-villa project
Manama, June 3, 2013
Kuwait-based Al Zamil International Real Estate Company, a leading sharia’h compliant property developer, has commenced construction work on a BD13 million ($33.60 million) new housing project in Bahrain.
The ground-breaking ceremony for the ‘Durrat Al Areen’ project, part of the flagship Al Areen Development, was held today.
More than 50 investors, dignitaries, senior businessmen and other stakeholders attended the event. This housing project will include 128 super-deluxe villas and is scheduled to be completed in mid-2015.
The Durrat Al Areen project will cover an area of more than 40,000 sq m and will be centrally located within the flagship Al Areen Development Project. It will include three types of villas: nine villas with an area of 360 sq m, 29 villas with an area of 300 sq m and 90 villas with an area of 170 sq m. The luxury villas will be equipped with swimming pools, private parking and large greenery areas with round-the-clock security, said the statement.
Musllem Mohammad Al Zamil, chairman and managing director of Al Zamil International Real Estate Company, said: “We are very proud to commence the construction work on this luxury Durrat Al Areen villa project, another milestone achievement for Al Zamil International in Bahrain.”
Esam Janahi, representing the owners of Al Areen Development Project, said: “The ‘Durrat Al Areen’, a new high-quality housing project, is a very significant component of our flagship Al Areen Development Project. The 128 villas belonging to three distinct classes aim to provide the residents of Bahrain and the region with affordable quality housing.”
Al Zamil International Real Estate Company was established in Kuwait in November 1981. It has been involved in the development of pioneering projects in the region, particularly in Kuwait. The company aims to generate high rates of returns for its shareholders through long-term and stable growth by diversifying sources of income, restructuring a lucrative real estate portfolio and diversifying geographically and operationally, the statement said. – TradeArabia News Service