| 15 Apr 2006 |
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Bahrain: Lulu Island project to be completed by 2009
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Lulu Island, a $1.25 billion unique residential project, is considered one of the pioneering real estate developments in Bahrain. The project, to be developed on the letter 9-shaped man-made island, offers free-hold ownership facility to non-Bahrainis and will have no high rise buildings giving a new dimension to the real estate development in the Kingdom.
With tentative plans to complete all infrastructure work by the first quarter of 2007, the project will be finished by the end of 2008 or early 2009. The project will have a treatment plant and a power sub-station to meet the needs of the gated community.
This man-made island is a 50-50 partnership between the government of Bahrain and the Bahrain-based Mouawad Group Real Estate Development Company. Lulu Island will be a work of art, a new dimension in living in Bahrain. The unique seafront leisure island has a strategic location near the Pearl roundabout.
The project 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 Futtaim.
Maroun Sarrouh, regional director, marketing and sales at the Muawadh Management and Marekting Company, Hala Refaat, advertisement and communications and public relations manager and Deena Karam, civil engineer in an interview told Bahrain Tribune that Lulu Island - the gated and exclusive community - will be an exceptional residential project in Bahrain.
Sarrouh said: "There has been a huge response from the potential buyers and investors despite the fact that we have not launched marketing and promotion campaigns yet. Some plots are already sold and major deals are in the pipeline."
"Lulu Island is conceived and styled along a fusion of contemporary designs following traditional patterns.
This fusion creates a unique environment unprecedented and unequalled in Bahrain. Lulu Island with its carefully studied area of 563,000 square metres offers for the inclusion of a comprehensive array of facilities but protects its individuality and exclusivity because of the carefully planned availability.
"There will be 39 residential buildings with a total of 1,217 apartments, one residential Icon tower, 49 stylish chalets, and 67 luxurious individual villas all overlooking private lagoons, with a private marina and yacht club making Lulu Island the residence of choice.
"A five-star 300-room hotel with comprehensive facilities include 42 serviced apartments, restaurants, gym and shopping arcades will make the hotel a milestone in Lulu Island.
He added: "The medical centre will provide the latest medical expertise and technology will help the residents to enjoy healthy and enjoyable living.
"Residents will be able to explore the one of a kind aquarium in the region, where wonders of the sea gather to provide residents with breathtaking scenery of under-water life."
By Mehmood Rafique Business Correspondent
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