Bahrain group launches new retail project
Manama, May 28, 2013
Bahrain Real Estate Investment (Edamah), a wholly-owned subsidiary of Bahrain Mumtalakat Holding Company, has launched a new BD2 million ($5.2 million) retail development project which will house more than 70 retail and food and beverage outlets in the Hidd area of the kingdom.
The project will be developed and managed by Edamah, which will add retail, leisure facilities and restaurants to the area, reported the Gulf Daily News, our sister publication.
"Historically, Hidd has played an important part in our nation's development," said Mumtalakat chief executive Mahmood Al Kooheji.
"In celebration of this and in an effort to promote the future economic development of Hidd and the broader Muharraq Municipality, we have launched this retail development and have received approvals from the Muharraq Municipal Council.
"It is our hope that this new development will greatly invigorate the area and will enrich the communities that reside in Arad and Hidd," said Al Kooheji.
"Through this new development, Edamah reaffirms its commitment to developing new projects in Bahrain that support economic growth," he added.
"The new Hidd retail strip will house more than 70 retail and food and beverage outlets. In addition to the retail space, there will be a sizeable garden and children's playground as well as half a kilometre of pedestrian walkways," he said.
Construction will start in July and is expected to be completed by the end of March next year. The development is planned to provide 6,900 sqm of retail space and will also accommodate parking for more than 170 vehicles.-TradeArabia News Service
More Construction & Real Estate Stories
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum
- Naseej inks deal to develop Bahrain projects
- Dadabhai unveils new residential project
- Flowcrete completes Dubai Mall project
- Global asphalt demand hits new high
- $1.3bn infrastructure investment firm set up in Saudi
- Manara sees big project villa success
- Global giants eye RAK utility projects
- Cayan partners with international artist Zsuzsanna