Shaikh Hisham Abdulrahman Al Khalifa, Governor, Ministry of the Interior Capital Governorate on the side lines of the opening of the $136million Fontana Towers in Manama, told reporters that Government as a strategy would continue to make necessary infrastructure available for the upcoming developments.
Fontana Towers also a fifty percent of units for investors interested in freehold as executive apartments managed by a hospitality group.
Talking about the real estate market, Shaikh Hisham said that the real estate sector was on the rebound after being part of the regional recession over the past couple of years.
“We are witnessing major investments both in housing and office buildings across the country especially the apartments concept is on the rise which will virtually reduce the pressure on the housing ministry in the short to medium term,” Shaikh Hisham said, adding that the change in perception of lifestyle for local families to switchover to apartments instead of houses would also increase investment appetite in real estate sector market.
Shaikh Hisham officially opened Fontana Towers, an exclusive luxurious living on the Juffair waterfront in presence of business partners, Sakana’s board members and Directors of The Developers WLL (Project Developer) Abdulghaffar Al Kooheji, Anayat Jaberi Jamal and Abdrabalnabi Ahmed Almaa.
Fontana Towers, which has been already sold out about 60%, is a symbol of luxury and modern living comprising four towers and 400 apartments comprising studios, one, two and three bedroom units and exclusive penthouses in four interconnected skyscrapers.
The project value is approximately $136 million. Fontana’s features include ladies spa, temperature controlled indoor pool, hydrotherapy pool, communal outdoor swimming pool with sundeck, health club, tennis, basketball and squash courts, indoor games room, kids play area, mini-theatre, restaurant, fully equipped business centre and convenience stores.
“We are extremely grateful to Shaikh Hisham Abdulrahman Al Khalifa to grace this momentous occasion and open Fontana Towers for living. We take this opportunity to thank the contractors, suppliers and business partners who have completed the project successfully despite delays due to challenging market conditions over the past few years,” Abdul Ghaffar Al Kooheji, Director, The Developers, said.
“We are very pleased to have set a new benchmark in property development with Fontana Towers adding to the sky line of Bahrain. We believe the development will be a popular choice for Bahrainis, Expatriates and GCC nationals. We are thankful to Sakana Holistic Housing Solutions, for providing property consulting service and mortgage finance to this project. We also thank our guests and media for gracing our opening ceremony. We are very grateful to the government authorities for providing utmost support and cooperation during construction of the development.”