23 January 2006
Riffa Views, a $300 million luxury villa and housing project in the Kingdom, has secured a freehold agreement paving the way for the expatriate community to purchase homes in the stunning new property development and gain residency rights in Bahrain.
The development's Managing Director, Yasser A. Abdullah, said the legislation is part of a commitment to ensure that the 900-home real-estate development is established as a multinational community on par with the most stringent international standards and expectations.
The project, a joint venture between Bahrain-based Arcapita Bank (60 per cent) and Bahrain International Golf Course Company (40 per cent), is considered one of the unique urban-development projects in Bahrain aimed at developing a world-class residential community for Bahraini, GCC and expatriates at one of the prime locations with facilities like school, leisure, security and other basic amenities as part of Riffa Views.
He said: "Bahrain is renowned for its tradition of hospitality to people of all nationalities which has resulted in a multicultural society the Kingdom enjoys.
"This harmony will also be clearly reflected in the owner profile of Riffa Views, given the interest we are receiving from Bahraini and other GCC nationals, from Arab, Asian and Western expatriates in the Gulf, and from individuals in Britain, France, Germany and Spain. We began offering the initial phase of the 900-home development for sale last month with a mortgage-finance arrangement in place with Bahrain Islamic Bank which subject to certain criteria will enable anyone of any nationality in any country in the world to secure property in the development.
"With the freehold agreement members of the international community are now also guaranteed the ability to not only own a property but to also reside in the Kingdom in their own right." The development features top-quality designed and built homes woven around a planned new Professional Golfers Association championship golf course designed by internationally famed Arthur Hills-Steve Forrest and Associates.
Three neighbourhood clusters are laced together with extensive landscaping, combining oasis scenes with emerald parklands and lagoons with almost every home enjoying open views of the golf fairways or green landscaping. The first release of properties offered plan includes 81 villas with onsite work beginning in June and the first phase being completed by the first quarter of 2008. A second sales period will also commence early this year.
Riffa Views, a $300 million luxury villa and housing project in the Kingdom, has secured a freehold agreement paving the way for the expatriate community to purchase homes in the stunning new property development and gain residency rights in Bahrain.
The development's Managing Director, Yasser A. Abdullah, said the legislation is part of a commitment to ensure that the 900-home real-estate development is established as a multinational community on par with the most stringent international standards and expectations.
The project, a joint venture between Bahrain-based Arcapita Bank (60 per cent) and Bahrain International Golf Course Company (40 per cent), is considered one of the unique urban-development projects in Bahrain aimed at developing a world-class residential community for Bahraini, GCC and expatriates at one of the prime locations with facilities like school, leisure, security and other basic amenities as part of Riffa Views.
He said: "Bahrain is renowned for its tradition of hospitality to people of all nationalities which has resulted in a multicultural society the Kingdom enjoys.
"This harmony will also be clearly reflected in the owner profile of Riffa Views, given the interest we are receiving from Bahraini and other GCC nationals, from Arab, Asian and Western expatriates in the Gulf, and from individuals in Britain, France, Germany and Spain. We began offering the initial phase of the 900-home development for sale last month with a mortgage-finance arrangement in place with Bahrain Islamic Bank which subject to certain criteria will enable anyone of any nationality in any country in the world to secure property in the development.
"With the freehold agreement members of the international community are now also guaranteed the ability to not only own a property but to also reside in the Kingdom in their own right." The development features top-quality designed and built homes woven around a planned new Professional Golfers Association championship golf course designed by internationally famed Arthur Hills-Steve Forrest and Associates.
Three neighbourhood clusters are laced together with extensive landscaping, combining oasis scenes with emerald parklands and lagoons with almost every home enjoying open views of the golf fairways or green landscaping. The first release of properties offered plan includes 81 villas with onsite work beginning in June and the first phase being completed by the first quarter of 2008. A second sales period will also commence early this year.
© Bahrain Tribune 2006
