Kuwait -- March 23, 2010, Aligning with ALARGAN's regional expansion strategy and focus on the middle-income segment, ALARGAN Bahrain recently announced the construction commencement of its latest project, Jeyoun, a mixed-use development worth BHD 26.5 million. The project is situated in the area of Abu Gowa, seven minutes away from the Capital of Bahrain, Manama.
General Manager of ALARGAN Bahrain, Fauzia Al-Khanjari said, "Jeyoun is a mixed-use project which covers an area of 37,803m2 and consists of a residential component which includes 82 townhouses and a commercial and retail component comprising of 9,839m2. The development will include a variety of shops, restaurants and a landscaped area to cater to the surrounding community."
ALARGAN Bahrain conducted an extensive study on the Bahraini market and identified a lack of affordable, middle-income housing in the Kingdom. The Company's initial project, Saar Gate was a notable success, which was fully sold out within just nine months of the project's launch. Building on this success, ALARGAN Bahrain developed Jeyoun, which is expected to see completion in 2012.
Jeyoun is located approximately 500 meters from the Sheikh Issa Bin Salman Highway, which links the Kingdom of Bahrain to the Kingdom of Saudi Arabia and is also in close proximity of several services and facilities in the area. The development offers ten residential layout options, designed to accommodate different lifestyles and tastes.
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About ALARGAN
ALARGAN International Real Estate Company is a leading real estate developer in the Middle East with an operating capital of over US$90 million. Established in 1994, ALARGAN is a pioneer in quality residential and commercial developments and has grown into a publicly listed company on the Kuwait Stock Exchange with approximately $2.4 billion in assets under management. As a result of its excellent track record and success, ALARGAN began to expand into other countries in 2003 and currently has fully operating affiliates in the Sultanate of Oman, the Kingdom of Saudi Arabia and the Kingdom of Bahrain.
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© Press Release 2010
