Construction work on the Le Reef residential towers in Bahrain is in full swing and the structural work is expected to be completed by the end of the year, two months ahead of schedule.

Being developed by Ahad Holdings, a part of the Manama Textile Group, Le Reef is located on Reef Island in the heart of Bahrain amidst the financial and shopping districts.

The project, which offers 142 apartments and two penthouses in two towers, amalgamates the traditional and the contemporary lifestyles, says Adnan Bashir, manager, business development and marketing, Ahad Holdings.

“Le Reef has been designed keeping the aesthetics of its geographical location. Every detail has been assigned utmost attention by a team highly skilled architects, planners and designers. The structures are planned gracefully with a very modern touch,” he said.

The two towers of Le Reef are inspired by the Eastern and Western cultures. The interiors of each are an exotic fusion of the traditional Eastern heritage and contemporary Western modernism, said Bashir.

Both towers, 10-storey high, are placed side by side on the shore of a calm lagoon on one side and the vast ocean on the other. Being a gated community, Le Reef offers the best lifestyle at the most exclusive location in the kingdom, he added.

Le Reef offers Elite and Royal classes of apartments to suit customers’ taste and budget. They will also be equipped with the latest in home technology.

One bedroom apartments start form 96 sq m with one car-park and two bedroom apartments start from 125 sq m with two car-parks; three bedroom apartments begin from 203 sq m with three car-parks.

The project offers two penthouses, one of the largest and most luxurious in the GCC with 1000 sq m space.

“The penthouses, which take the full top floors of each tower, are specially designed for 360 deg views of the open sea, the lagoon and the Seef District. They have their own pools in their courtyards,” said Bashir.

Le Reef also offers the most attractive and unique payment and financing options, he said.

“With only 10 per cent down payment and 40 per cent payable in easy installments, you get to pay half of the total price until completion. Pre-approved mortgage finance and exclusive buy back options bring you close to owning the best address in town with absolute security to investment,” he said.

The developer is offering to buy back the apartments at 11 per cent premium if the purchaser wishes not to take the property at the time of handover for whatever reason after the completion of the project, said Bashir.

“We are able to offer such a guarantee to the customer because we are sure the price will appreciate more than 10 per cent by December this year itself, once people start living on the Reef Island,” said Bashir.

“Our prices are reasonable and are 7 per cent to 10 per cent cheaper than similar or lower quality apartment in the area,” he said.

This is the right time to buy real estate since the prices have stabilized and those who wait for the market to come down further, may be disappointed, said Bashir. –TradeArabia News Service