“Following Manara’s third and latest progress report submitted to Tubli Gardens’ investors,” Dr. Al Bastaki, added.
“We are pleased that the project is progressing as per the pre-set timeline. The report, supported by pictures, illustrates the completion of the actual implementation of the construction, as the project progresses to the interior and exterior finishing and exterior painting,” he said.
“Despite the rising challenges, we were able to work together with the contracting company commissioned to execute the project to overcome these challenges in order for us to deliver the villa’s as agreed with the home owners as per our initial agreed delivery dates”. Pointing out that hard work and commitment to the highest quality, both in the selection of raw materials and finishing were “at the heart of our work on the project”.
The construction plan aims to build all 27 villas in parallel in order to deliver them within the same timeframe.
“Work is now heavily underway to complete the first stage of our residential project, in order to move to the next planned stages, especially after the overwhelming responses from the market to Manara Developments projects -amongst them- Tubli gardens,” Dr. Al Bastaki, added.
“Manara is currently planning the details of phase two and three of the same project, at a cost reaching BD3 million. 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,” he said.
The Tubli Gardens project conformed to modern designs catering for family privacy requirements. Amongst the villas’ attributes is its comfort, and the freedom it provides to move and relocate some services, in addition to the capability of vertical construction in the future upon the provision of drawings of up to three floors based on the needs of the owner.
The villa consists of three bedrooms, an inside and outside kitchen, two bathrooms, and two living rooms, maid’s room, in addition to a garage with a capacity of two cars, and space to construct a backyard swimming pool.
The company had recently revealed that it has launched an agreement with Eskan Bank aiming to entitle Bahraini beneficiaries to housing loans to own properties in the Tubli Gardens project. As part of this agreement Bahrainis benefiting from housing loans and Eskan Bank commercial loans could purchase property with the option to repay in installments depending on the building phases as per an agreement between the three parties.
Property prices start from BD 89 thousand 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 title deed.
“We are committed in investing in the provision of housing solutions that are compatible with a wider income bracket within the population. This has been harnessed with undoubtedly positive indicators encouraging property investment and ownership in Bahrain, especially considering Eskan Bank’s recent announcement to raise the borrowing ceiling for housing up to BD 60,000 to its beneficiaries. Notwithstanding the competitive prices being offered on housing units which indicates that now is a major opportunity for families looking to own housing.”