(MENAFNEditorial) "Manara Developments" stand received great interest from visitors and exhibitors at the "Gulf Property Show" throughout the three days of which the exhibition was held under the patronage of his Royal Highness Prince Khalifa Bin Salman Al Khalifa, the Prime Minister, at the Bahrain Exhibition and Convention Centre.
Managing Director Dr. Hasan Al Bastaki expressed his gratitude to the large number of visitors who visited the company's stand. He said: "Manara's strategic partnership at the Gulf Property Show comes in line with our active role as a leading company in the real estate development sector that inherently contributes to the national economy. The exceptional interests on our offerings in the exhibition were nothing less than proof of the market's hunger for further real estate development in Bahrain".
"Manara" – as the exhibition's strategic partner - received special attention as it launched its "Hasabi" project, one of its first mix-use projects that meets the general trends of modern residential developments that ensure residents are aided with the necessary communal facilities, and maintains the necessary attributes for sustainable social and economic development.
The "Hasabi" project is uniquely situated in the south of the Kingdom of Bahrain and built as per the most recent construction standards.
The "Hasabi" project hosts units with waterfront views, each with its own private jetty, and a special provision for shops, cafes and restaurants in front of the yacht marina to accommodate for the daily requirements of households residing in these villas. The project also offers a wide range of water facilities in addition to multistory three and four floor residential buildings. The company had appointed its main contractor to undergo the waterway and land reclamation works in preparation to offer unit sales in the first quarter of 2017.
The Company's Managing Director Dr. Hasan Al Bastaki stated that: "The Company is eager to strengthen its active role in property development by continuously responding to the ever changing trends in supply and demand on both the investment and residential fronts". Also adding: "Manara's residential projects represent serious steps in its commitment to undertake a leading active role in partnering with the public sector to meet the need for housing in the Kingdom of Bahrain. Moreover, "Manara" was amongst the first to establish joint cooperation with the Ministry of Housing and Eskan Bank in 2013 to instate itself as a trusted developer to meet the Ministry's standards set out to public housing projects aimed to serve the needs of those eligible households, where it ensured the appropriate contribution on the investment front by launching the final stages of "Investment Gateway Bahrain" in the Muharraq Governorate, a leading investment project for light industry and commercial activities.
"Manara" Also showcased in its stand the last sales phase of its unique "Investment Gateway Bahrain" project that amongst its unique characteristics is that its plots are offered for sale rather than for a limited period lease where the investor maintains the freedom to develop the land as seen most appropriate to the area and the business".
Dr. Al Bastaki affirmed that: "The success witnessed in the previous sales phases of the project relied heavily on the ease of economic accessibility to the thriving economies of the gulf region, and the availability of sophisticated land, sea, and air transport means between ports and airports, notwithstanding logistics zones in multiple locations around the gulf, and ongoing programs to uplift and improve the region's infrastructure, and Bahrain's trade alliances with over 60 countries worldwide thus promoting an open trading environment within the Kingdom".
The project, which is scheduled for infrastructure completion in the second half of this year, will offer dedicated industrial and commercial plots for office and showroom space, as well as warehouse space, as per the requirements of commercial and industrial service companies in the Kingdom of Bahrain, and the governorate of Muharraq in Particular.
Dr. Al Bastaki added that: "the "Investment Gateway – Bahrain" project represents one of the major steps towards attracting and stimulated investments into the Kingdom of Bahrain, with a particular emphasis on foreign direct investment. A feature that will characterize this project, and the Kingdom of Bahrain as a whole into a prime investment center to a multiplicity of multinational light industry and logistical establishments choosing the Kingdom of Bahrain as an ideal choice to set up their regional branches".
The exhibition also showcased "Manara's" most recent residential projects, namely; "Kenaz Al Bahrain", and "Wahati".
The "Kenaz Al Bahrain" Project seeks to accommodate the common trend of modern families towards vertical expansion, designed as per the latest design and construction standards. The "Kenaz Al Bahrain" project, currently at 50% to completion, consists of 8 modern design buildings comprising of four floors with two apartments in each floor thus totaling 64 apartments alongside a group of facilities designed to achieve economic and social sustainability of which are crucial in modern residential establishments.
Each apartment measures on average 160 square meters and consists of three bedrooms, a spacious kitchen, in addition to an open living room, three bathrooms and a maids room, in addition to car parking facilities, of which were carefully designed to fulfill the needs of modern Bahraini families.
While the "Kenaz Al Bahrain" project compliments Manara's residential projects, "Tubli Gardens" and "Wahat Al Muharraq", it also represents a significant addition to Manara's ambition to play a leading role in cooperation and partnership with the public and private sector and in line with its commitment to achieving public housing development and the Kingdom's strategies and efforts for national housing support at affordable cost and to meet the needs of modern families thus achieving social stability and sustainability.
In addition, Manara also maintained within all its projects to achieve construction and design standards that are environmentally friendly within a cost that is appropriate for the majority of young families.
The third project that received significant interest from the exhibition visitors is "Wahati" that Dr. Al Bastaki described as "designed specifically to meet the requirements of the social housing scheme launched by the Ministry of Housing three years ago, noting that sales will commence within the first three months for those prospective buyers currently on the Ministry of Housing's waiting list and entitled to benefit from the social housing scheme program.
"Wahati", a sub-project of the "Wahat Al Muharraq - which was initially introduced over three phases since 2011 - comprises of 9 apartment building from the (B3) category and is three floors in each building and hosts a range of common facilities to its residents such as a children's playground, a Majlis, in addition to a large hall for various activities. Each unit offered at a cost of BHD 68,100.
Dr. Al Bastaki concluded by commenting on his contentment with the success witnessed on the property development, design, and construction fronts at the exhibition, of which facilitates exposure to the latest industry trends and needs, and further meeting these needs as per the industry trends. He also pointed the general direction towards to meeting the leadership's vision within the fields of residential development and property investment as a whole.
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