Manara to launch industrial plots' sale
Manama, October 26, 2013
Manara Developments, a leading real estate developer specialising in affordable housing in Bahrain, has announced plans to release the plots in the second phase of its ambitious "Investment Gateway-Bahrain" project for sale.
The Manara move comes following the overwhelming response from several high end establishments for the plots in the first phase of the project at Muharraq.
Dr Hasan Al-Bastaki, the managing director of Manara Developments said several prominent Bahraini establishments have purchased plots in the first phase within four months of the project's official launch.
"An in-depth study of the commercial and industrial sectors’ needs and the current available industrial zones has enabled us to better provide comprehensive solutions in phase one of the project, which led us to attract a great deal of high-end establishments operating in both regional and international markets alike," he stated.
A number of well-established companies such as Ebrahim Khalil Kanoo, Ceramic Delmon, YK Al-Moayyed & Sons, Montreal Motors, Trafco Group and Bahrain Limo, and establishments have participated and purchased allocated plots to operate and expand their businesses with Investment Gateway-Bahrain, he added.
"Investment-Gateway-Bahrain", is the first light industrial project in Muharraq province that enables the investor to obtain ownership of the land with the ownership certificate in hand.
Those properties are not subject to a limited period lease, as is the case with other industrial areas of the Muharraq Governorate. Moreover the owner has the choice to best utilize the property in whatever way is seen suitable to the land and the purpose of the investment, said the top official.
Dr Al-Bastaki said the second phase plot sale too will attract great caliber of participating establishments, and a lineup of interested buyers seeking full-fledged solutions for storage and logistics purposes as offered by the initiative.
A sales office was set up last June to provide interested investors with the necessary information needed to own land at the Investment Gateway-Bahrain project, of which delivered great promotional value and helped sell the first land parcels of phase one of the project.
The locations offer the capacity to serve as offices, showrooms, storage facilities, handling services, and sales offices, all of which aid in the economic activity in the Kingdom of Bahrain in general and Muharraq Governorate in particular.-TradeArabia News Service