Issue No 345 - June 27, 2011

Manara launches new villa project

Manara Developments, a leading real estate group in Bahrain, has announced the launch of 'Wahat Almuharraq' project, comprising 47 villas designed to suit the needs of middle income families in the Kingdom.

Announcing the project on Sunday, Manara Developments managing director Dr Hassan Al Bastaki said the construction was moving forward according to schedule.

"The land excavation phase has been completed allowing the laying of foundation for 18 villas consisting of 'Corner' and 'Ideal' type villas out of the total of 47 housing units located at the waterfront near Amwaj facing Qalali."

The remaining villas will be constructed upon completion of ground works, he added.

Dr Al Bastaki said, "Wahat Almuharraq project is an extension of the company's success with similar housing projects that gained increasing popularity during recent times."

"The fundamental success of such projects is the sincere consideration for the modern, middle to limited income Bahraini and GCC families' need for homes," he noted.

Dr Al Bastaki confirmed that the units are an ideal choice for the modern Bahraini families in light of the recent Bahraini government announcement to raise the borrowing ceiling to BD60,000 ($159,134).

Beneficiaries of these government loans are now given the opportunity to own modern housing units at low cost borrowing, he stated.

Dr Al Bastaki also said the recent agreement between Manara Developments and Eskan Bank will allow Bahrainis to shop for homes that satisfy their taste for exceptional designs and reassure their requirements that the construction is with the finest quality material.

Source: TradeArabia News


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