Manara Developments’ Managing Director Dr. Hasan Al-Bastaki on Saturday announced the 50% completion of Tubli Garden Project.
The announcement was made following the Manara Developments presented details of its second quarter to its shareholders of Tubli Gardens, showing the project’s latest progress and the way forward.
Dr. Bastaki said that the project was progressing ahead of its planned schedule at a comfortable rate due to the positive factors affecting the progression of the project and completion on time without any major obstacles.
Dr. Al-Bastaki mentioned that amongst the main basis of philosophy governing “Manara Developments” towards its shareholders and partners is its continuous commitment to adequately overcome all obstacles, thus ensuring steady progress without any slowdowns. “Our strong commitment to our philosophies enables us to fulfill our commitments both in terms of quality and delivery time,” he said.
Dr. Al-Bastaki also pointed out that in parallel to the work being carried out to the villas in phase one, special attention is being given to two particular villa’s, one “Corner” type villa, and one of the “Typical” type which is semi connected to other villas. The aim of this is to showcase the final deliverable of the project to potential investors looking to invest in the upcoming phases of the projects.
The construction plan aims to build all 27 villas in parallel to be completed in the same period of time.
Manara is currently planning the details of phase of the same project, at a cost reaching $8 million. It is likely that the next phase will be identical to the first phase in terms of number of villas, their designs, and distinguishing properties. Dr. Al-Bastaki said that amongst the major factors that led to Tubli Gardens success were its family orientated designs, distinguished location, quality construction and finishing, and most importantly; competitive pricing.
The Tubli Gardens project conformed to modern designs catering for the Bahraini families’ privacy requirements in addition to modern energy conservation designs to allow for natural lighting inside the villas, in addition to that, its dependency on minimum consumption application which classifies “Tubli Gardens” as an environmentally friendly project due to its fine attention to detail.
The villa consists of three bedrooms, an inside and outside kitchen, three bathrooms, and two living rooms, maid’s room, in addition to a garage with a capacity of two cars, and space to construct an optional backyard swimming pool.
Property prices start from BD89, 000 and are variable based on the required specifications by the buyer and repayment options and financial capability. Buyers also have the option of obtaining additional financing options from Bahraini Saudi Bank, an associate bank of Manara Developments, without providing additional mortgage.
“There are many positive indicators encouraging property investment or ownership in Bahrain, especially considering Eskan Bank’s recent announcement to raise the borrowing ceiling for housing up to BD 60 thousand to its beneficiaries. Notwithstanding the competitive prices being offered on housing units, “this indicates that now is a major opportunity for families looking to own housing”.