This was stated by Managing Director of Manara Developments Dr. Hassan Al Bastaki following a keen interest shown by the Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa, in the ongoing developments as well upcoming projects.
He said Manara would continue to seek projects as public private partnetship especially in the affordable housing projects.
“The feedback from the Deputy Premier during the opening of Bahrain’s Real Estate Exhibition (BAPDEX 2012) paves the way for us to actively work towards fulfilling our objectives in line with the leadership vision,” he added.
The Deputy Premier in a statement after the opening of the Expo reiterated the importance of an active partnership between the private sector and the government projects, as the integration between these two counterparts aids the sector’s development towards a collaborative fulfillment of the sector’s development plans.
“Manara today is at the forefront of leading real estate development companies, which implies a greater responsibility towards the sector and this sector is an emerging area of the modern Bahraini market,” Al Bastaki, said.
“Manara is implementing a clear and flexible strategy, as it continuously seeks to fulfill the needs and requirements of its target market through input from its prospective customers, especially those of the middle to limited income segments,” he said.
“The mid and low income segments are our main focus, in addition to the governments particular attention to providing this segment with appropriate housing in terms of price, space and services,” Al Bastaki, added.
He emphasised on developing innovative solutions in terms of affordable housing units is among Manara’s top priority.
Manara earlier launched an agreement with Eskan Bank aiming at entitling Bahrainis for housing loans to own properties in Tubli Gardens and Wahat Al Muharraq residential projects.
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.