Manama: Mahmood Rafique, Editor: The Kingdom of Bahrain’s real estate sector shows resilience over the years and carries a positive look.
“Bahrain real estate outlook is positive and that one of the main drivers of the ongoing and upcoming projects backed by very efficient government support that will eventually make the Kingdom as service oriented hub in the region,” Majid Al Khan, CEO Infracorp, in an interview told The24X7News Bahrain (www.twentyfoursevennews.com).
Infracorp, which unveiled a $200million Marina Bay, believes that futuristic real estate projects would continue to attract local, regional, and international investments as well as boost tourism sector.
“We are very excited to announce the launch of Marina Bay and we think this is a unique development regardless of the size of the infracorp this is a boutique development done in a great detail and excel the quality of the product once it is completed,” Al Khan, added.
“Reef Island is the main address for luxury lifestyle therefore we wanted to provide a unique lifestyle on the Island,” he said.
“We will announce upcoming futuristic project like Marina Bay as we believe in specialized real estate development, I think the time has passed about the traditional developments and during the last couple of projects we keep in mind the touristic environment in Bahrain.
“We are only showcasing the small part of the project which has a built-up area of 70,000 square meters and we are in the final stages of securing all permits and regulatory approvals,” he said, adding that we always make sure before announcing the project that enough liquidity is in place ahead of start of any development. This is what ensures timely delivery in 2021 we handed over around 70,000 or 80,000 square meters to end users,” he explained.
“Our target this year to initiate the projects over 200,000 square meters in Bahrain with announce of this we have achieved 70 per cent of that target,” he added.
Infracorp, a pioneer in infrastructure developments, on has launched $200million Marina Bay, a luxurious residential development, situated on Reef Island on the Northern Coast of Manama.
With a tentative 24-month timeline, the high-end project is a part of Infracorp’s vision aims at creating sustainable communities across the countries it operates.
The launch-cum-Press conference ceremony attended by Hisham Alrayes, Chairman of Infracorp, Majed Al Khan, CEO of Infracorp, and joined by esteemed guests and members of the media at the National Theatre of Bahrain.
