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While Sales Exceed 50%
Manama - Manara Developments - Dr. Hasan Al Bastaki, Managing Director of Manara Developments - leading residential real estate and integrated housing solutions company - confirmed that the construction works in Kenaz Al Bahrain are on track and moving as per the preset timeline in preparation for handover of the units to their owners.
Dr. Al Bastaki pointed that construction works are almost 90% complete and handovers will commence within three months, noting that more than 50% of the offered units have been sold.
Kenaz Al Bahrain is amongst Manara's most successful projects on the residential real estate market. Dr. Al Bastaki also noted that "Manara's" projects fall in line with general trend set out by the Ministry of Housing towards encouraging vertical expansion to assimilate with the scarcity of land and thus serving greater populations within the limited available space. He also added that "vertical construction must not simply consist of small apartments, but must be suitable to the needs and requirements of Bahraini Families".
Kenaz Al Bahrain - which was announced for the first time at the Bahrain International Real Estate Exhibition, under the patronage of Deputy Prime Minister H.E Shaikh Khalid bin Abdulla Al Khalifa, between the 5th to 7th of November 2015 at the Bahrain International Exhibition Centre - consists of 8 modern design buildings comprising of four floors with two apartments in each floor thus totaling 64 apartments alongside a group of facilities designed to achieve economic and social sustainability of which are crucial in modern residential establishments.
Each apartment measures on average 160 square meters and consists of three bedrooms, a spacious kitchen, in addition to an open living room, three bathrooms and a maids room, in addition to car parking facilities, of which were carefully designed to fulfill the needs of the modern Bahraini family.
Dr. Al Bastaki affirmed that "Manara" continues to establish itself as a distinguished development company by strictly adhering to project timelines, and ensuring the effective use of high quality primary building materials as well as high quality finishing. Moreover, "Manara" takes into consideration environmental factors while its prices remain within an affordable range.
He noted that Kenaz Al Bahrain comes to complement its wide array of Manara's projects aimed towards residential development of which it had initiated in the past in Muharraq (Wahat Al Muharraq - 3 phases) and Tubli (Tubli Gardens - Four phases).
Kenaz Al Bahrain comes within "Manara Development's" ambition to play a leading role in cooperation and partnership with the public and private sector and in line with its commitment to achieving public housing development and the Kingdom's strategies and efforts for national housing support at affordable cost and to meet the needs of modern families thus achieving social stability and sustainability.
Moreover, "Manara" was amongst the first to establish joint cooperation with the Ministry of Housing in 2013 to instate itself as a trusted developer to meet the Ministry's standards set out to public housing projects aimed to serve the needs of those eligible households, where Al Salam Bank - Bahrain is one of the participating banks offering financing solutions for prospective buyers, in addition the other Ministry-endorsed financial institutions participating in this initiative.
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About Manara Developments Company B.S.C. (Closed)
Manara Developments Company BSC (Closed) is a Bahrain - based real estate Development Company with a diverse project portfolio. Manara is determined to bring new insights, a fresh perspective and an all considered approach to real estate development in the Middle East market.
Manara Developments is driven by a core desire to become one of the top regional real estate developers by delivering a distinct portfolio of projects that are sensitive to their surroundings and leave a positive imprint on the community which houses them, from a social, economic and environmental perspective. Wherever possible, the Company will source national resources and will deploy the latest in design, construction and environmental technologies to help deliver socially-aware projects synonymous with quality, sustainability, value-for-money and on-time delivery.
The company's mission is guided by a sincere, humanistic 'All Considered' philosophy stemming from a deep-rooted sense of social responsibility - to develop conscientiously with the best interests of the community in mind and strive to deliver.
For more information, please contact:
Mr. Nawaf Ali Alghanim
Manager - Marketing and Corporate Communications
Mobile : +973 39 820 121
Tele : +973 17 518 667
Fax : +973 17 131 074
Email : n.alghanim@manara.bh
© Press Release 2016
