Apart from Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister patronized the launch of Wahat Al-Muharraq project villas in Qalali, Muharraq Governorate, the Minister of Housing, Bassem Yaqoub Al Hamer, Minister of Municipalities and Urban Affairs, Dr Jumaa Al Ka’abi were also present during the launch.
After the opening ceremony Sheikh Khalid highlighted the significance of the affordable houses, which are deemed now to be an option for middle income families in several countries, and Bahrain is certainly one of them in line with the housing plans adapted by the country.
“The development of affordable housing for citizens receives high attention by the Government, which welcomes any efforts and all forms of positive cooperation with the private sector, which has become a significant partner in many aspects of development. Manara’s leading efforts as a successful partnership model with the Government was praised,” Shaikh Khalid, said.
“The Company would effectively contribute to develop the housing sector in the Kingdom of Bahrain and Manara is deemed as a key partner to the Bahraini Government in creating affordable housing solutions with a core focus on ensuring various outlets and solutions pertaining to housing issues,” Yousif Taqi, Chairman of Manara Development, said.
Taqi appreciated Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister, for patronizing the launch confirming that the presence of Deputy Premier was evidence that the government is deeply interested in the contributions made by the private sector in the field of housing. Surely, Taqi added, these steps will reinforce the partnership between the Government and Manara Developments Company, as two sectors complementing each other, and also boost real cooperation in the future.
Manara Developments launched Phase 1 of Wahat Al-Muharraq Project last year. That came after witnessing the great demand for Manara’s housing units by modern Bahraini families, which have led the Company to planning the completion of the second phase.
The 2nd Phase of Wahat Al-Muharraq villas included two Moroccan-style villas and two Tuscany Italian style villas. Units are fully equipped, attached and semi-attached villas.
“There are 227 the total number of housing units in the project, which has an estimated value of BD 24.7 million. The project’s first phase, which consists of 30 units has been completed and sold, the second phase consists of 197 villas, of which 96 are attached to neighboring villas, 77 semi-attached and 24 villa are standalone type villas, all of which are characterized by larger room sizes along with the three new themes that are unique to the houses in the second phase of Wahat Al-Muharraq. These designs are modern, Moroccan, and Tuscany (Italian),” Dr. Al Bastaki, said.
The Wahat Al-Muharraq villas’ prices start from BD98000 while the final price depends on type and the plot size of the villa.
“The units are positioned as the ideal choice for modern Bahraini families, especially with the availability of Government housing loans which reaches up to BD60000 which provide the beneficiaries of these loans with the opportunity of owning modern houses at a low cost borrowing to fulfill one of the major necessities of life for the family.”
“Manara had earlier signed an agreement with Eskan Bank aiming to entitle nationals to own appropriate housing units at Wahat Al-Muharraq Project .Under this agreement, Bahrainis who are beneficiaries of housing loans and Eskan Bank’s loans will be able to purchase properties with the option of repayment in installments depending on the building phases as per an agreement between the three parties.”