Bahrain’s leading real estate development company Manara said it has received an overwhelming response for two of its residential projects - Wadi Al Riffa and Hasabi -  launched at the Gulf Property Show in Manama.

Both projects - Hasabi, a sea view project, and Wadi Al Riffa, an affordably-priced property have been designed specifically to meet the demands of modern Bahraini families, and built as per the highest quality and environmental standards, it stated.

As a strategic sponsor, Manara, will be playing a key role at Gulf Property Show, the boutique showcase for the real estate and property development sectors in the Northern Gulf.

Dr Hasan Al Bastaki, the company’s managing director, emphasized Manara's approach to continuously understand and fulfill the market needs in its residential projects that are aimed for young modern families.

Moreover, the company ensures alignment with modern design and construction standards to ensure social and economical sustainability as a motto to its developments, he stated.

According to him, the first project, Hasabi was designed in line with the most recent aesthetic and construction design standards.

"Manara was keen on ensuring the highest design, construction as well as environmental quality standards in the projects presented at the exhibition in accordance with the requirements sought by Bahraini families," he noted.  

The multi-purpose Hasabi project boasts three- and four-bedroom residential units with sea views and each with a private jetty, in addition to commercial developments for sea-view restaurants and coffee shops to serve the needs of residents, in addition to beach facilities and residential buildings three and four floors high.

As for Wadi Al Riffa, the project set at affordable rates, will consist of 130 attached villas with varying sizes over land areas of 180 sq m and a total building space of 235 sq m, and some villa’s constructed on a larger land area.

"Wadi Al Riffa units are expected to launch its units for sale immediately after completion of the necessary permit approvals and other related formalities," explained Al Bastaki.

"The expected timeline for civil works from start to completion is likely to take up to 24 months," he stated.

These units have been designed to fulfill the requirements of modern Bahraini families who are beneficiaries of the social housing program 'Mazaya' offered by the Ministry of Housing in co-ordination with Al Eskan Bank," he added.
 
Manara said it was amongst the first to respond to the government’s encouragement to public and private sector partnerships towards the end of 2013.

Al Salam Bank Bahrain, the parent company, has become an approved partner to provide suitable financing to its beneficiaries following a similar agreement with Eskan Bank, he added.

Lauding the expo, Dr Al Bastaki said the company was backing the Gulf Property Show for the fifth consecutive year as a strategic sponsor.

This comes as part of Manara’s commitment to supporting all the activities that contribute to growing kingdom’s real estate sector notwithstanding the recent government efforts that come through directives from the leadership to speed up the provision of residential opportunities for young families, he stated.

"The great interest witnessed at the Manara stand exemplifies the trust of its customers in the quality of its projects and the support of its real estate development initiatives," he added.-TradeArabia News Service