Faqeeh ... giving the real estate market in Bahrain a powerful drive.
Bin Faqeeh to deliver $270m Bahrain projects in Q1
MANAMA, 7 days ago
Bin Faqeeh, a leading Bahrain-based privately-owned real estate investment company, said it will start delivering $270 million worth of real estate development projects to the owners during the first quarter of 2017.
The list of real estate development projects that will be delivered includes: The Grand, Plus, The Nest, Dar Tower, Forbes Tower, The Treasure, 360° and The Tweet, said the company in a statement.
With the completion of these eight real estate development projects, the total number of delivered projects will reach 30, which constitutes 80 per cent of its total projects in the pipeline.
This will provide a strong momentum to the Bahraini local real estate market at the beginning of the new year, it added.
Chairman Faisal Faqeeh said: "It's our pleasure to announce to the owners and investors that a number of our outstanding projects are set to be handed over in the first quarter of 2017, after completion of all luxury finishes, facilities and final touches."
"We are very proud of these milestones, which contribute significantly to the development of the real estate sector in Bahrain," he added.
According to him, the timely delivery of these projects will play a vital role in giving the real estate market in Bahrain a powerful drive.
It will positively impact investors’ confidence as well as boost real estate trading activity, stated Faqeeh.
"We are confident that the owners will be very happy to get their luxurious residential apartments, which have been designed and built according to world-class standards. We have been very keen to integrate these projects with comprehensive facilities in order to turn them into a perfect living destination for families where they can spend quality time," he added.
Faqeeh pointed out that the real estate sector in Bahrain was promising and had potential despite the volatility in global oil markets.
It is one of the most developed and stable markets in the region in terms of its ability to grow, expand and yield investment returns, stated the top official.
"We are pleased to take this opportunity to extend our sincere thanks and gratitude to the wise leadership of Bahrain for their continued support and encouragement for the private sector to play an active role in the economy, which has contributed into realising these achievements and transform our visions into reality," he added.
On its other projects, Faqeeh said over 30 per cent work has been completed on its ambitious 588-unit Water Bay development. Located at Bahrain Bay, the project will boast three residential towers housing 196 apartments each.
The same applies to Hidd Heights, which is a 13-storey residential tower built next to Prince Khalifa bin Salman Park and includes apartments of different sizes, said Faqeeh.
In addition, the construction work in ‘Alsidra’ project will start in the end of the first quarter of 2017, he added. This project is an impressive luxury villa community with 465 villas of varying designs and capacities located at Diyar Al Muharraq. Also, work is already in progress at the ‘Layan’ Project.
"We are very proud to be Bahrain's leading real estate developer, aiming to positively influence the kingdom’s real estate sector through introducing distinctive development projects with attractive and lucrative returns," he stated.
Faqeeh pointed out that the developer is implementing its “Limited 5” plan, which entails the launch of an exclusive limited edition luxury project each year for five years. These properties will reward its tenants with luxurious lifestyle experiences unlike any in the entire GCC.
Bin Faqeeh, he stated, also seeks to support Bahrain's economy by attracting foreign capital through the creation of unique investment opportunities while maintaining a high level of quality and luxury.
"In addition, we have played other roles to promote our economy by sponsoring key economic events such as the Bahrain International Property Exhibition (Bipex), Cityscape India, Gulf Property Show, Jewellery Arabia and others," he added.-TradeArabia News Service