Reef attracts investors
Manama, July 30, 2007
Reef Island Project, owned by the real estate development leader Lulu Tourism, is attracting huge interest from property investors and companies, it says.
This follows the launch of its first phase, the company said in a statement.
The Manama-based project is a unique seafront leisure island offering exclusivity, comfort and luxury, said an official spokesman.
Reef Island, the most luxurious project in Bahrain, consists of 65 scenic villas, 49 stylish beach villas, five stars hotel and a residential icon tower. It also includes 39 luxurious residential buildings, only three of which will be developed by Abu Dhabi Investment House.
The project will also contain an all-inclusive shopping mall, the most up-to-date Medical Center, six lavish parks, a private marina, a state-of-the-art Spa Village and a Yacht club.
'The project development is being carried out in two phases; the first phase kicked off in July 2007 and is scheduled for completion in 2009, while the second phase is scheduled to commence in mid 2008 and complete in 2010. The first phase contract was awarded to Al Hamad Contracting Company,' said sales and marketing manager Ernest Fleihan.
The island is strategically located because of its close proximity to the airport, the Bahrain Financial Harbour, and central Manama.
Reef Island is a 50/50 joint venture between Bahrain Government and Mouawad Property Development Group represented by Lulu Tourism which owns and manages the overall project. TradeArabia News Service