$300 million Bahrain Bay project launched
Manama, June 26, 2013
A $300 million mixed-use project has been launched at Bahrain Bay by Nama International Real Estate, a subsidiary of Kooheji Global Holding (KGH), a report said.
The KGH Tower project was unveiled during a signing ceremony at the head office of Bahrain Bay Development Company by Nama International Real Estate and Bahrain Bay Development, reported the Gulf Daily News, our sister publication.
"We are glad to announce the launch of our latest development that would be considered as the pride and backbone of our company," said Kooheji Global Holding managing director Tariq Al Kooheji.
"The project will consist of two phases, where phase one will consist of a four-star hotel with around 175 keys, 120 luxury serviced apartments, higher-end commercial office space and retail zone and multi-storey car parking lot.
"Phase two will consist of a five-star hotel comprising around 240 rooms. We started communicating with top international hotel brands and operators to be our partners.
"Overall we paid careful thought and consideration to make sure that the project will be developed based on the highest international design standards, catering to the growing needs of the hospitality and commercial sectors in Bahrain," added Al Kooheji.
"We are very happy about our partnership with Kooheji Global Holding through their real estate arm Nama International, and would like to congratulate them on appointing a dedicated team to complete their initial feasibilities and concept for their new project," said Bahrain Bay Development deputy chief executive Abdulla Al Doseri.
"We believe that the project chosen by them will be among the landmark projects at Bahrain Bay, a waterfront community that is designed for offering a high-end lifestyle of international standards, to meet the needs of commercial, corporate, investment, banking and leisure sectors," he said.
"We would like to thank Nama International for choosing Bahrain Bay to host their iconic project and assure our full technical and managerial support in accomplishing it, the outcome of which will contribute added value to the business, hospitality and tourism markets of Bahrain as well as the region and create many job opportunities for Bahrainis in the kingdom," he added. – TradeArabia News Service