Manara starts work on $47m villa project
Manama, August 25, 2012
Manara Developments, a Bahrain-based real estate development company, said it has started work on the construction of the second phase of its BD18 million ($47.4 million) Wahat Al Muharraq project.
The phase two of the Wahat Al Muharraq project comprises 180 villas with the prices starting from BD986,000 onwards. Of these, 79 villas are attached to neighbouring villas, 77 are semi-attached and 24 are standalone type villas, the company said in a statement.
All the villas are characterized by larger room sizes along with the three new themes that are unique to the houses in the second phase including the modern design, Moroccan design, and the Tuscan (Italian) design.
These designs are spread amongst the attached and semi-attached villas, and are based on the requests of the homeowner, it added.
Managing Director Dr Hassan Al Bastaki said, “The remarkable success achieved by Wahat Al Muharraq in its first phase led us to planning the next stages of the project. That came after witnessing the great demand for “Manara’s” housing units, which are considered reasonably priced and targeted to middle to limited income earners.'
He pointed out that Manara’s projects, in both planning and execution phases, continue to set its position as a market leader in the provision of affordable housing which is compatible with the purchasing power of a wide range of home buyers in Bahrain, and those with housing applications with the Ministry of Housing.
Dr Al Bastaki said the villas prices start from while the whole project costs approximately BD 18 Million.
Each attached villas consist of two living rooms, a kitchen, three bedrooms of which one is the master bedroom, a maid’s room and a laundry room, with the capacity to add an external kitchen and a second level, and two car park spaces.
According to him, the semi-attached villas of phase two have an external Majlis (living room) for those seeking privacy, as well as two halls, a large kitchen, three bedrooms, a spacious veranda, a maid’s room, a laundry room, and two car park spaces.
'The standalone villas have a front and back yard, one of which can be converted into a swimming pool, four bedrooms (one master), two spacious kitchens, a maid’s room, a laundry room, a storage room, a spacious veranda, and two car park spaces. In addition, as with all other units of the project, the villa has the capacity to build an additional level.'
Dr Al Bastaki said the second phase was a likely spinoff of the first one as input from visitors of the project, including buyers, specialists and others who were making technical observations that benefited the engineers and designers greatly in planning for the second phase.
The company chief said these units are being positioned as the ideal choice for modern Bahraini families, especially with the recent government announcement to raise the borrowing ceiling to BD60,000.
Beneficiaries of these government loans are given the opportunity to own modern housing units at low cost borrowing to fulfill one of the major necessities of life, he stated.
Manara, he said, was working closely with the public sector, namely the Ministry of Housing and Eskan Bank in synchronicity in terms of laying out plans and requirements, soon after Sheikh Khalid Bin Abdulla Al Khalifa, Deputy Prime Minister’s remarks in which he supported the partnership model between the public and the private sector with a particular focus on “Manara’s” partnership with the government plans as the ideal partnership model.
'Our goal is to build homes that suit the Bahraini Citizen regardless of his, because that is the quality of life that every individual is seeking, and every citizen has the right to enjoy the most adequate and practical housing that his income allows,' he added.-TradeArabia News Service
More Construction & Real Estate Stories
- Staff shortage hits Bahrain projects
- DWC to build new agent warehouses
- Arabtec appoints new HR officer
- Sodic appoints new financial officer
- Avant in distribution deal with Danube, Al Taif
- Egypt says disputes with Damac are resolved
- Abu Dhabi TDIC picks up Yardi voyager
- Dubai group announces $1bn Viceroy hotel project
- Asteco to lease out new property
- Union Properties Q1 net profit slips 2.2pc