$65m villa project launched in Bahrain
Manama, July 4, 2013
Wahat Al Muharraq, a 227-villa housing project with an estimated value of BD24.7 million ($65 million), was launched yesterday (July 3) in Bahrain.
The project's first phase, which consists of 30 units, has been completed and sold, and the second phase consists of 197 villas, reported the Gulf Daily News, our sister publication.
Launched under the patronage of Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa, the project is being developed by Manara Developments.
After the inauguration and a tour of the mock-up villas, Shaikh Khalid highlighted the significance of affordable housing to cater to the needs of middle income families in Bahrain.
This is also in line with the housing plans adopted by the country, he added.
"The private sector is a significant partner in national development and the project by Manara is an example of a successful public-private partnership model," Shaikh Khalid said.
Manara Developments chairman Yousif Taqi said the company's core focus was developing various solutions addressing the housing needs of Bahrainis.
"We launched phase one of Wahat Al Muharraq last year. After witnessing the great demand among modern Bahraini families for Manara's housing units, the company decided to expedite the completion of the second phase," he added.
Prices start at BD98,000 and mock-up villas are ready for viewing, the report said. – TradeArabia News Service