Naseej gets solid response for Bahrain villa project
Manama, May 14, 2014
Bahrain-based developer Naseej has announced that more than 85 per cent of its Yasmeenat Saar project units have been reserved by customers.
This came about during the Gulf Property Show 2014 held at the Bahrain International Exhibition and Convention Centre.
The company showcased its private public partnership (PPP) affordable housing project and Yasmeenat Saar villas project at the exhibition, reported the Gulf Daily News, our sister publication.
"We are pleased to announce that over 85 per cent of reservations were made on the Yasmeenat Saar project whereby we offered 27 luxurious villas and a number of land plots on the 17,000 sqm plan," the company's managing director Mohammed Khalil Alsayed said.
The villas feature open plan layouts and are expected to be built in the coming two years.
Yasmeenat Saar was featured for the first time at the show.
The project's design and layouts have been done by MSCEB.
"They are targeted at the medium income bracket offering quality homes and amenities in a prime location at competitive prices," Mr Alsayed added.
Naseej is partnering with the Housing Ministry in the PPP which the firm said is a first of its kind project in Bahrain and the region as a whole.
More than 2,800 affordable and social housing units are being developed under the project over the coming five years in Al Madina Al Shamaliya and Al Luzi.
"In total, we are offering 367 affordable villas and apartments within the newly developed island of Al Madina Al Shamaliya at extremely attractive rates to Bahraini nationals with unit prices starting as low as BD96,000 ($253,305) for beachfront villas and BD44,800 for apartments," he said.
Naseej is currently accepting reservations from Bahraini nationals with monthly income of up to BD2,000, under the ongoing agreement with the ministry to offer the units as part of a tier system.-TradeArabia News Service