Al Kooheji unit plans big Bahrain projects
Manama, May 27, 2014
The Developers, a company of Al Kooheji Group, is making a multimillion-dollar investment for two new residential developments in Juffair to stay ahead of competition as a boom takes hold.
Best known as the developer of Fontana Towers in Juffair, The Developers is embarking on a new project with its newly launched Fontana Gardens project almost fully sold, reported the Gulf Daily News, our sister publication.
"The Fontana Suites project comprises 378 'affordable luxury' apartments and will cost BD30 million ($79 million) to build with work expected to start in June this year," said Royal Ambassador sales and business development general manager Eman Al Mannai.
Royal Ambassador Property & Facility Management is also a part of the group and the designated manager for all Fontana brand properties.
Al Mannai said apartments in six sizes starting at 37sq m will be on offer at Fontana Suites with prices ranging from BD36,500 to BD105,000.
"We expect to deliver the project within 30 months. The launch of this new development comes at the right time when the property market is enjoying a noticeable boom," she added.
"The response to the 405-apartment Fontana Gardens project launched earlier this year was tremendous because people had seen the excellent quality of Fontana Towers, where we have seen resale values nearly double," said Al Mannai.
Featuring landscaped gardens and what the company says will be Bahrain's largest swimming pool, Fontana Gardens is expected to be completed by mid-2016. It is coming up next to the existing Fontana Towers development.
In addition to the swimming pool and a large green area, a 13-hole mini golf course, wellness centre and luxury Turkish bath will be other key features of the three-tower development, she said.
Upon completion, Fontana Gardens' residents will be able to use the facilities of the neighbouring Fontana Towers including its restaurant, business centre, tennis and squash courts and cinema.
The group is very upbeat on Bahrain's real estate sector and has projects lined up in Amwaj Islands and Seef.
"It is obvious that Bahrain is witnessing improvement in development and infrastructure in the past few years with the construction of new roads, new bridges and new access roads in and out of vital areas," Al Mannai said.
Both projects are being built by Al Kooheji Contracting Company.-TradeArabia News Service