An $800 million waterfront residential complex is to be built by Bahrain based Nomas Enterprises in the Al Fateh area of Manama.

The project will include some 950 homes.

The company unveiled a model of the real estate project at a press conference held at the Ritz Carlton Bahrain, Hotel and Spa yesterday.

Work is likely to go out to tender in the next few months and the company said it would unveil more details of the development at that time.

The entire project is scheduled to be completed by 2010.

"The development occupies an area of over 35,000 sq m," said Nomas Enterprises chairman Shaikh Rashid bin Abdulla bin Hamad Al Khalifa.

"The mixed use and residential towers act like beacons with more than 60 floors. The towers’ slim, elliptical form means that all apartments gain sea views."

The company is in the process of increasing its capital to approximately BD200 million, he said. "With such a massive project in the making, ample job opportunities will be created in the hospitality and retail sector.

"The company itself is looking forward to an internal restructuring to keep up with the raising demands of such a magnanimous project and many more to come in the near future,” he said.

He said that this development will be the first amongst many future landmark projects that Nomas will be working on.

"The Arabic word Nomas means of top distinction and that is the quality of work and quality of life that we want the people of the kingdom to experience and live via our properties," he said.

“This project is a new benchmark in destination design for Bahrain," said managing director Rashid Al Rumaihi.
“It is a true mix use facility on a massive scale combining premium residential apartments and townhouses, three floors of retail houses and entertainment options, a five-star hotel and boutique waterfront office facility within four towers.

"'This is an economic, social and environmentally conscious project," he added.  –TradeArabia News Service