KHCB project gets power connection
Manama, September 29, 2013
Bahrain-based Khaleeji Commercial Bank (KHCB) said it has secured power connection for its Oryx Hills Project located at the Al Areen area of the Kingdom.
The OryxHills project, being developed by Surooh Real Estate Company, an investment vehicle managed by KHCB, consists of 70 high-end modern style villas built to the highest architectural standards, said a statement from the bank.
Each villa comprises a spacious garden, a swimming pool, and covered garages along with other amenities, the statement added.
The villas’ land area range from approximately 725 sq m to 1210 sq m with a built-up area of approximately 469 sqm to 699 sqm. The project construction was completed back in 2011 but faced some delay in getting utilities connections, it added.
Commenting on the development, chairman Dr Fuad Al Omar said: “As manager of the investment vehicle and promoter of Oryx Hills project, we are very pleased to announce the new developments in this high-end residential villa project. We have successfully obtained power to the villas and soon will be able to have water supply as well."
“Despite the difficult conditions, the investment team has successfully sold 31 villas and is working closely with different real estate promoters to close the sale of the remaining villas," he revealed.
"As a result of the new development, we expect an increase in market demand for villas in this attractive residential project especially with current owners looking to move into to their homes very soon," he added.
Al Omar said the company will soon launch a marketing campaign to sell the remaining villas at attractive prices.-TradeArabia News Service