More than 68 per cent of plots at the $2.5-billion Bahrain Bay waterfront development have been sold and many projects of third-party developers are nearing completion, said a report.

Bahrain Bay deputy chief executive Abdulla Al Doseri said the Four Seasons Hotel is expected to open before the end of the year and an international insurance company has chosen to set up its headquarters at the development, reported the Gulf Daily News, our sister publication.

The announcement follows the master-planned development's participation in the 13th edition of the Cityscape Global exhibition in Dubai, UAE, which was inaugurated by Dubai Civil Aviation Authority president Sheikh Ahmed bin Saeed Al Maktoum on Sunday.

Al Doseri delivered a presentation on the project to Sheikh Ahmed when he visited the Bahrain Bay stand at the exhibition.

"Cityscape offers an excellent networking platform for business development and networking and through our participation we are seeking to update the real estate market on progress and new announcements," he added.

Bahrain Bay hosts a number of renowned brands, hotels, banks, residential and commercial projects and high net worth developments, including the Arcapita building, the Four Seasons Hotel, head offices of Al Baraka Banking Group, the spiral designed United Tower housing the Wyndham Grand Hotel, and the J W Marriott Hotel.

The development is designed around vibrant neighbourhoods of residential, commercial, leisure and retail spaces.-TradeArabia News Service