Residential sea-front plot at the first to be made available for public sale on Dilmunia at Bahrain have been sold out in only the first day.
The announcement on Saturday by Ithmaar Development Company (IDC) Chief Executive and Member of the Board, Mohammed Khalil Alsayed, follows a remarkable opening day for the plot’s sales period.
“Residents of Bahrain were given the opportunity to build their dream homes by the sea when plots of residential, sea-front land were made available for sale on Sunday morning,” said Alsayed. “The near instant market reaction, with over 67 percent of all plots sold in one day, is extremely encouraging,” he said.
The thirty-seven plots that were offered for sale are organised around a child-friendly central green park area to create Temara, a calm, serene and exclusive neighbourhood in southern Dilmunia at Bahrain, a mixed-use development built on a man-made island off the coast of Muharraq. This latest IDC offering follows shortly after the dramatic sell-out success of Seavilla, the first residential villas on Dilmunia at Bahrain.
“The success of both the Seavilla and, only a few weeks later, the Temara projects, stands testimony to growing investor confidence in Bahrain’s economy and its real estate industry,” said Alsayed. “It is also a clear reflection of the market’s confidence in our ability, as developers, to deliver innovative, high-quality solutions in time and on budget,” he said.
“Following the sell-out Seavilla project, Temara offers residents and investors a chance to buy water front and coastal plots at prices almost as attractive as the destination itself,” said Alsayed. “They can now buy the land they want and build the sea view home they always dreamed of owning on one of the Bahrain’s most talked about island developments,” he said.
Temara offers a range of plots from 596 square meters (SQM) to 1,488 SQM so even the most ambitious dream home can be comfortably accommodated. The neighbourhood is accessible by two roads, for easy access by road or foot with a road end roundabout allowing free flowing traffic in and out of the neighbourhood.
“Temara is a low density development of 22 sea facing and 15 coastal plots, all of which are south facing,” Alsayed, said. “All the plots are thoughtfully sized in depth and length, with a minimum 15m width and upwards of 40m in length, to accommodate both a large villa with a specious garden and a large car park in front. Sea front plots can also benefit from jetties and access to the sea, if required,” he said.
“The Temara plots give residents and investors the freedom to build their dreams,” said Alsayed. “Judging from the success of the Seavilla project which sold out in less than three working days, we are confident that these plots will prove at least as popular as it allows people to build their own homes to meet their own needs,” he said.
Dilmunia at Bahrain aims to tap into the fast-growing health and wellness industry, which, as reported by Deloitte Centre for Health Solutions, is estimated to have exceeded US$100 billion globally by the end of 2012. In addition to this, Dilmunia’s location in close proximity to the Bahrain International Airport, and its easy access to Saudi Arabia via the King Fahad Causeway, gives it further appeal to international investors.