Manama: Manara Developments, the Kingdom’s leading Real Estate Development Company, has received real estate developer’s license from the Real Estate Regulatory Authority (RERA). Manara has become as one of the first establishments in the Kingdom of Bahrain to earn this license.
The Company’s Managing Director, Dr. Hasan Al Bastaki expressed his sincere appreciation to the Real Estate Regulatory Authority (RERA) Chairman and President of SLRB, Shaikh Salman bin Abdulla Bin Hamad Al Khalifa, the RERA Board of Directors, and RERA Chief Executive Officer, Shaikh Mohammed bin Khalifa Bin Abdulla Al Khalifa on their efforts and leadership to assist in achieving the company’s goals within record time.
The organization had facilitated the approvals and issues the required permits in just three months.
“Manara is well deserving of this license due to its diligent institutional work, its high commitment to executing its projects to the highest of standards within all the conceivable measures”, thanks to the Real Estate Regulatory Authority and its future role in the real estate development sector as it will place the industry within a sound regulatory framework in line with the Bahrain Economic Vision 2030 and its three pillars of Development, fair competition, and sustainability,” said Dr. Al Bastaki.
He added that the establishment of the Real Estate Development Authority in the Kingdom of Bahrain is sought to deliver a wide array of positive results, as it will serve to revitalize this dynamic sector as a modern and flexible investment front to facilitate the overall vision moving forward. At the forefront, Manara will be amongst the leading beneficiaries of this establishment as it heads towards exploring further growth and development opportunities in the Kingdom of Bahrain.
“Manara remained committed on achieving the highest quality standards in all of its projects and to offering innovative solutions in all its establishments in the local market”, he reaffirmed.
“Manara has championed the execution of most of its projects in close partnership with the Government of the Kingdom of Bahrain particularly towards the social housing program of which “Tubli Gardens” was introduced and has received a great response from the public, as the true challenge to meet our commitment to pursue the company’s philosophy to “All Considered” of which thankfully, we have achieved to best effect.
“Manara” had successfully completed Tubli Gardens in 2015, which was executed in four phases, homing 77 villas at a total cost of 6.5 million Bahraini Dinars, after which the company launched its partnership with the public sector represented by Eskan Bank, to launch its social housing program on a wider scale and to execute the Wahat Al Muharraq project that homes 227 housing units thus introducing a new face to its projects in the Kingdom of Bahrain. “Manara” has effectively introduced a new standard of social housing projects of which put the company at the forefront of its unique and comprehensive projects that are both environmentally friendly and finished to the highest standards.
On the independent housing unit front, Manara has contributed to establish the trend towards vertical housing in Kenaz Al Bahrain that comprises 64 apartments spread over 8 modern design buildings. Each building consists of 4 floors homing two residential apartments alongside a group of facilities designed to achieve economic and social sustainability of which are crucial in modern residential establishments.
The Investment Gateway – Bahrain project comes as one of “Manara’s” housing projects that has demonstrated the capabilities of its engineering and operational teams to establish a diverse range of projects to compliment industrial areas in Bahrain as it allows free holding of plots and offers, in its first phase of which is complete, and its second phase in progress, comprehensive solutions for light industry, workshops, warehousing, showrooms, labor accommodation, and an entire range of logistics services, in addition to its location between Bahrain International Airport, Khalifa Port, and the Freeway leading to King Fahad Causeway.
“Manara Developments will further progress with this license towards new horizons to execute its projects to support the Kingdom of Bahrain and to achieve those investing in its projects.”
