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"Manara" Appreciates the great interest from His Excellency Deputy Prime Minister at its Stand

As an Industry leader and the Exhibition's Platinum Sponsor
Dr. Al Bastaki: We are committed to work in close partnership with the public sector to continuously seek and develop affordable housing solutions.

Managing Director of "Manara Developments" Dr. Hasan Al Bastaki expressed his gratitude to the Deputy Prime Minister HE Sheikh Khalid bin Abdulla Al Khalifa, on the interest and support extended in "Manara's" current projects and all the relevant details within the current and future projects.

Dr. Al Bastaki said: "the wise guidance received by His Excellency during the Inauguration of Bahrain's Real Estate Exhibition (BAPDEX 2012) paves the way for us to actively work towards fulfilling our objectives derived from our wise leadership directives". He pointed that His Excellency reiterated the importance of an active partnership between the private sector and the government projects, as the integration between these two counterparts aids the sector's development towards a collaborative fulfillment of the sector's development plans.

"Manara" had recently been awarded the platinum sponsorship for the exhibition organized by the Bahrain Property Development Association, and is hosting a display pavilion where the company's current projects will be displayed and also to answer to the queries of potential home owners and other interested visitors.

The Managing Director also commented on the company's sponsorship of the event stating that: "it is no secret that "Manara" today is at the forefront of leading real estate development companies, which implies a greater responsibility towards the sector, seeing that this sector is an emerging area of the modern Bahraini market", emphasizing that this sponsorship is a clear indication of "Manara's" position in the industry and its contributions in its field, seeing that this exhibition stands as one of the more focused exhibitions as it is an initiative of the Bahrain Property Developments Association, which is a vital area of "Manara's" work.

Dr. Al Bastaki assured that "Manara" is implementing a clear and flexible strategy, as it continuously seeks to fulfill the needs and requirements of its target market through input from its prospective customers, especially those of the middle to limited income segment, stating that "these two segments are our main focus, in addition to the governments particular attention to providing this segment with appropriate housing in terms of price, space and services".

He pointed that developing innovative solutions in terms of affordable housing units is amongst the company's priorities "as the innovative spirit is the main reason behind "Manara" leading role in meeting the needs of middle to limited income earners".

Manara's stand, being amongst the largest and most unique of stands, witnessed a great deal of interest in the early days of the exhibition from both exhibition visitors and field specialists, especially considering that "Manara's" projects such as Tubli Gardens, Wahat Al Muharraq and Janayin Al Hamala have generated a large number of prospective buyers seeking to purchase houses at affordable prices.

Expert opinions suggest that amongst "Manara's" projects' unique factors is the freedom given to the owner, to adjust or carry out modifications to the units that the owner sees as best fit, in addition to the capacity to construct a third level. In addition to that, the engineers of the development have left sufficient space for home gardens on the outskirts of the various villa types of attached, semi-attached and completely independent villas. This variety gives the potential owner a wider range of options when looking to purchase a housing unit. These unique features gave "Manara's" projects an edge making it more attractive to buyers. In addition to that, the company had focused particular attention to the fine details and elegant designs, environmentally friendly specifications, high quality building materials and high quality finishing.

The company had earlier revealed that it has launched an agreement with Eskan Bank aiming to entitle Bahraini beneficiaries of housing loans to own properties in Tubli Gardens and Wahat Al Muharraq residential projects. As part of this agreement, Bahrainis benefiting from housing loans and Eskan Bank commercial loans could purchase property with the option to repay in installments depending on the building phases as per an agreement between the three parties.

About Manara Developments Company B.S.C. (Closed)
Manara Developments is a Bahrain-based real estate development company, established as a joint venture between Al Salam Bank - Bahrain and strategic partners, to develop real estate 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 2012

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