| 11 Apr 2006 |
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Lulu Island - an exclusive community project
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Lulu Island to be a landmark in property market
Heart of capital
The unique seafront leisure island has a strategic location in the city as it finds itself near the Pearl Roundabout in Manama, right in the middle of the East and West time zones.
It is flanked by Bahrain Financial Harbour on the East side of the island and Seef district - a high class, business, banking and financial hub - on the West. Lulu Island is also at the heart of the development boom that features World Trade Centre and City Mall of Al Futaim, which is the largest shopping complex in Bahrain on the West side of the island in the Seef district.
Style, design and facilities.
The Manama-based project is an initiative of the Government of Bahrain and the Mouawad Group Inc. For Real Estate Development. It is conceived and styled along a fusion of contemporary designs following traditional patterns.
What is Lulu Island All about:
- 39 luxurious Residential Buildings - 1,217 Apartments as follows ranging from 133 m2 to 596 m2
- 1 Residential Icon Tower .43,000 m2 built up area
- 67 scenic Villas ranging in areas from 653 m2 to 1309 m2
- 49 Stylish Chalets ranging in areas from 134m2 to 300 m2 with only one presidential at 500 m2.
- 300 Room 5 * Hotel( 24,000 m2) + Serviced apartments ( 8400 m2)
- State of the Art Spa Village - multiple wet and treatment rooms
- One of its kind Aquarium- of 10,000 m2 in area.
- All inclusive Shopping Mall 20,000 m2 and built up 30,000 m2
- The most up-to-date Medical Center- land 11,500 m2 and built up 15,000 m2
- Multi Purpose Convention & Exhibition Center- built up15,000 m2 on a land of 16,000 m2.
- Lavish Parks 12,331m2 +
- Man Made sea water Lagoons
- Private Marina & Yacht Club built up area of 1500 m2
As of now, the island is in full form. The developers say that they are planning to finish all infrastructure work by the first quarter of 2007. "This will include the hard-scape and soft-scape works to transform the island into an enchanting habitable environment. On parallel lines construction of the constituencies will proceed and will be in full swing by late this year."
With regards to completion dates, the developers state that the vision and plans of the island seek completion of all construction as simultaneously as possible to avoid any inconvenience to the tenants and owners. The construction of buildings, villas, chalets, will go hand in hand with that of the hotel, shopping mall and spa.
The very nature of the owners' drive is for the island to be completed on target to stand out and realise the vision. This vision desires to design and develop real estate in Bahrain with a unique approach leading to a refined, stylish, all inclusive island where harmony of man and nature is superbly achieved at the heart of the city; set new standards in real estate development in Bahrain and contribute to the economy and community of the Kingdom of Bahrain by setting new and unique standards for real estate development.
Response and sales
The response and interest the island is receiving from potential buyers and investors was "remarkable despite the fact that we did not launch our marketing and promotion plans and campaigns yet. Some plots are already sold and major deals are in the pipeline. We would rather hold this information and let the actual progress speak itself."
Inquiries and interest has come from high-profile individuals, real estate developers, investment banks, corporate investors. The ultimate tenants of the island will comprise of those who are seeking refinement, glamour, luxury, and exclusivity at the heart of the city.
The project is a first for Bahrain in terms of its scale, uniqueness of design, material used and landscaping and the developers believe that the island's comprehensive facilities and exclusivity make it suited for the jetsetters of the communities they are targeting.
The project is targeting the homogenous lifestyle and common interests of tenants to turn the island into a sustainable community. Nevertheless, and keeping in line with our target markets, the island provides multiple options and buildings having different apartments sizes , 67 villas in 7 different styles with and their own private beaches.
The diversified options in the Island provide a perfect match for the requirements of different targeted segments. "We have a full price range to entertain the exposure and accommodation sought by the individual tenants," they said.
Lulu Island is being called a true work of art and is expected to usher in a new dimension in living in Bahrain.
-Ends-
For Further Details:
Muawadh Management & Marketing Company
Al Moayyed Tower
30th Floor
P.O.Box 31405
Kingdom of Bahrain
Tel. +973 17 562810/562812/562813/562814
Fax. +973 17 562811
www.lulu-island.com
© Press Release 2006
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