Oct 26 2008 |
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Reef Venture Holding Company Launches USD 200 Million Difaaf Residential Development
Manama, Bahrain: Reef Venture Holding Company W.L.L announced at a press conference yesterday (26 October, 2008) the launch of its first luxury residential project, Difaaf, on Reef Island.
Valued at USD 200 million, the Difaaf Development comprises a luxury water-front residential project consisting of two towers, and covering a 16,000 sq. m plot of land; strategically located in the heart of Bahrain's financial hub and capital city of Manama.
"Difaaf is a high-end residential community offering an exclusive lifestyle for those seeking the luxurious ambiance of a modern Bahrain, while remaining within close proximity of the Kingdom's business centre. We believe that Difaaf's unique architectural design coupled with its prime location, will make Difaaf a distinguished project. We have already seen very strong demand from our investors to acquire units in the project," said Mr. Khalid Abdulkarim, Chairman Reef Venture Holding Company and Chief Investment Officer-Real Estate of Venture Capital Bank .
Mr. Abdulkarim concluded by stating that, "Reef Venture Holding is a limited liability company established by Venture Capital Bank to undertake the development of the Difaaf Project on behalf of Venture Capital Bank and its investors
Mr. Bagaeen added that, "breaking of ground has commenced on site and the Piling works are well in progress. Estimated completion of the development is projected for the end of 2010.
-Ends-
For any further information, please contact:
Saleh Bagaeen
Director - Reef Venture Holding
E-mail Saleh@difaaf.com
Omar Kabbara
Sales Manager- Reef Venture Holding
E-mail omar@difaaf.com
Tel +973 17535333
Fax +97317537333
Website: www.difaaf.com
© Press Release 2008
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