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$66m Corniche project back on track

Manama, January 12, 2013

A deal between two government bodies in Bahrain has finally been brokered to ensure work will continue on the BD25 million ($66 million) Al Ghous Corniche, major marina project on Muharraq's coastline.

Work on the Al Ghous Corniche was at a standstill after the Muharraq Municipal Council was informed that nearly half of the land earmarked for the development was not registered as municipal property, but was owned by the Bahrain Real Estate Investment Company (Edamah), which comes under Bahrain Mumtalakat Holding Company, reported the Gulf Daily News, our sister publication.

Area councillor Fatema Salman spearheaded weeks of negotiations with the government-owned company, which agreed to become a partner in the project and allow work to go ahead.

The development will feature a resort, shopping mall, indoor and outdoor theme park, a jetty for fishermen and an open beach.

It is being spearheaded by a consortium of Turkish, Saudi and local businessmen and was initially approved by Municipalities and Urban Planning Affairs Minister Dr Juma Al Ka'abi.

"Since learning about the deeds issue I tried to solve it by either having them transferred through the Royal Court or reaching an agreement with Edamah," said Salman.

"Everyone knows that court procedures are lengthy and takes time, so the easiest way was to convince Edamah to enter as a partner.

"Edamah has agreed to become partner and they are waiting for details from the investors.

The development will be located on the coast between the Shaikh Hamad bin Isa Causeway and the Shaikh Isa bin Salman Causeway, which link Manama and Muharraq.

It will also include a main office tower, commercial and residential buildings, a fish market and marina.-TradeArabia News Service




Tags: Bahrain | Corniche |

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