Promoseven Holdings, a real estate developer in Bahrain, has announced that over 70 per cent of the work has been completed within Phase One of its residential project, Diyar Alkhair in Sanabis.
This phase of Diyar Alkhair includes two 14-storey towers and 120 apartments of various sizes, designed to meet the needs of the modern Bahraini family.
With steady progress being made on the project, Promoseven Holdings expects to deliver the first phase of Diyar Alkhair project by November, said the statement from Promoseven.
The residential units within Phase One of the Diyar Alkhair project are competitively priced with the rates starting from BD50,000 ($131,895) onwards.
Located just 3 km from the capital Manama, Diyar Alkhair is in the mid-point of a highway connecting southern and northern Bahrain, it added.
Group Chairman Akram Miknas said work had not stopped at the Diyar Alkhair project site despite the exceptional circumstances imposed by the Covid-19 pandemic, thus highlighting the group's determination to finish projects as per schedule.
He stressed on the fact that this achievement reflects the keenness of the supervising team to adhere to the schedule set for completing the project without any delays.
"Diyar Alkhair forms part of a national effort to support the government's relentless drive to provide more housing units to meet the growing needs of the increasing number of citizens. What’s more it provides them with quality benefits that suit their income," he noted.
Miknas said: "Promoseven Holdings is proud to be at the forefront of real estate developers in the Bahrain which is implementing projects that enhance the architectural framework of the kingdom, such as Lulu Towers and Al Dair Gardens."
"The group continues to adopt new strategies in line with the evolving needs and requirements of the real estate market," he added.
Ibtissam Laitoum, the head of the real estate department at Promoseven Holdings, said the group has made all the necessary arrangements to start handing over apartments to their owners, residents, and investors as per schedule.
"The project has been well received by small and large Bahraini families; due to the unique advantages it offers at competitive prices," she stated.
"In addition, for investors who seek to achieve rental returns, a high occupancy rate is expected in this vital area in the centre of Bahrain," she added.-TradeArabia News Service