On the First Day of Bahrain International Property Exhibition (BIPEX 2010)

"Wahat Al Muharraq" and "Janayin Al Hamala" Draw Attention and Attract Hordes of Visitors

Manama-12 November 2010: Manara Developments Company stall at Bahrain International Property Exhibition (BIPEX 2010) saw high demand on the first day of opening the exhibition in which Manara Developments is the Prime sponsor, following its launch of new residential projects, "Wahat Al Muharraq" and "Janayin Al Hamala" which added an extra vitality and dynamism to the event.

Manara Developments exhibited at its stall, which is located opposite the main entrance of Bahrain International Property Exhibition "BIPEX 2010" models of villas featured in the two projects, in addition to models of identical villas launched in the middle of this year, namely "Tubli Gardens" which achieved excellent results in terms of marketing.

On the first day of the event, a number of deals involving the two projects were struck, with high initial bookings for the 91 villas executed in them.

Manara Developments Company Managing Director Dr. Hasan Al Bastaki said; "This large demand and the full satisfaction by exhibitors at the Company's stall encourages us to continue to plan for the following phases of the two projects," adding that "Janayin Al Hamala" which was launched during the opening ceremonies, includes 44 villas, constituting the first phase of the project, while the first phase of "Wahat Al Muharraq" project consists of 47 villas.

Dr. Al Bastaki added: "All basic requirements have been taken into consideration in the two projects, which are the requirements of Bahraini and Gulf families, in addition to attention to minute details of maintaining privacy in design and construction, synergy between the villas and the surrounding environment, the premier geographical location in a place that is readily accessible, with all the required modern services and comprehensive

infrastructure. This constitutes a perfect architectural interface with the surrounding environment, in addition to an important and attractive aspect, namely that the price of the residential unit is affordable."

Each villa in both projects consists of three bedrooms and two kitchens (internal and external), two bathrooms, halls and one room for the housemaid, in addition to two parking lots.

Dr. Al Bastaki emphasized that "in view of our deep conviction of the importance attached to this event, we decided to be the Prime patron, as well as launching "Wahat Al Muharraq" and "Janayin Al Hamala", because this event is an ideal location for launching such projects which contribute effectively and substantially to the reinstatement of the local property market and to the return of confidence in it. Besides, the projects have been designed to meet all demands and expectations."

Concluding, Dr. Al Bastaki said: "The real estate indicators which we are monitoring and following up closely show that there is an improvement in the property market which is now beginning to recover. The high demand for our projects, which we witnessed on the first day of the exhibition, in addition to the high demand for the event itself by interested people and those directly related to this vital sector, are concrete  indicators of the recovery of the property market in Bahrain." He expressed belief that the year 2011 will be more dynamic and eventful than the past two years in terms of property trading on the market.

-Ends-

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 & Corporate Communications
Mobile: +973 39820121
Tele: +973 16516500
Fax: +973 16516512
Email: n.alghanim@manara.bh

© Press Release 2010