First Bahrain Real Estate Development Company has appointed Decorators, a member of Promoseven Holdings, to construct the 42 villas of the new El Mercado Village in Janabiya area of Bahrain.

The development is adjacent to the new El Mercado neighbourhood retail centre.

Decorators recently launched Bahrain’s first floating hotel - C-Hotel, along the Manama corniche. The company has also acquired an Italian factory for the fabrication of high-quality home finishings.

Commenting on the deal, First Bahrain CEO Amin Al Arrayed said: "We are very excited to be working with Decorators who are set to emerge as one of the leading contractors in the country. The El Mercado Village will be a major milestone for both companies."

Akram Miknas, the chairman of Promoseven Holdings, said: "We look forward to working with First Bahrain on this project, given their strong reputation as a real estate company which delivers on its promises.”

This news follows the announcement of the financing agreement with Kuwait Finance House for the second phase of this $30 million development, designed by Sanad Engineering.

The El Mercado development is located just off the Sheikh Isa Bin Salman Highway near the Saudi causeway.

The villas will come in two types: Eight premium stand-alone villas and 34 semi-detached homes, said a statement from the developer.

Residents will have quick access to restaurants, cafes, services, and the largest Alosra Supermarket in Bahrain.

McDonald’s, Joe Mama’s, Second Cup, Top & Dip, The Groom Room, and Ahli United Bank are already open for business, it added.

First Bahrain is an innovative regional real estate developer which was established in Kuwait in 2004. It creates enduring value for stakeholders with a demand-driven investment approach.

Operating out of Bahrain and Kuwait, First Bahrain is strategically positioned to implement projects across the GCC in accordance with Sharia principles.-TradeArabia News Service