Durrat Marina in Bahrain project deal
Manama, April 30, 2014
Bahrain-based Durrat Marina, a major mixed-use development, has signed a sales and development agreement with Maaster Project Management Services.
The agreement is for two seafront residential plots totalling an area of 3,653 sqm. Within phase one of the project, two six-storey residential buildings are planned to be built on the land, reported the Gulf Daily News, our sister publication.
The signing was attended by Durrat Marina chairman Ahmed Al Qattan and Maaster Project Management Services chairman Antony John. Work on the buildings is expected to start within the next three months.
Al Qattan said the sale confirmed the confidence of Bahraini developers in the project. "The two towers are expected to appeal to Bahraini locals as well as GCC and foreign nationals," he stated.
Durrat Marina's infrastructure work is complete. "The marina's 113 yacht berths are expected to start operations in June, and construction of the 20 residential villas, which have all been sold, are nearing completion and are expected to be delivered to homeowners by August," he added.
Durrat Marina managing director Yazan Haddad said since the start of the sales and marketing campaign, the development has witnessed enormous interest in terms of enquiries and sales.-TradeArabia News Service