|17 March, 2019

Manara starts the construction of Phase one of Wadi Al Riffa this week

The project’s construction works are expected to carry on for 10 months and scheduled for delivery of units early 2020.

Dr. Hasan Al Bastaki - Managing Director - Manara Developments

Dr. Hasan Al Bastaki - Managing Director - Manara Developments

Manama: Manara Developments, the Kingdom’s leading real estate developer will commence the construction works for one of its most recent projects, namely “Wadi Al Riffa” as of 20th of March. Wadi Al Riffa, a project aimed to bringing brilliance of design and quality of construction to Bahraini Families within its portfolio of Manara’s projects that have contributed to hundreds of Bahraini families settling in safe and sustainable communities. The project’s construction works are expected to carry on for 10 months and scheduled for delivery of units early 2020.

Managing Director of Manara, Dr. Hasan Al Bastaki noted: “The Company is on a continuous pursuit to refine its knowledge and understanding towards meeting the most recent developments in the residential real estate market with a particular focus on modern Bahraini Families as to match their requirements with the latest construction sector developments within affordable price ranges”. He added that this comes within the company’s philosophy of growing its contribution to the development of this sector through a keen understanding of the preferences and requirements of modern Bahraini Families.

Phase one - currently reaching the end of the land levelling and landfill stage - consists of 29 attached villas each occupying a plot ranges between 180 square meters and 233 square meters, and a built-up area of 235 square meters. Each unit consist of 3 master bedrooms, Majlis, living room, dining area, external kitchen, a Maid room with a toilet, a laundry room and a garage accommodates 2 cars. Each unit is carefully designed to fulfil modern Bahraini families’ needs. “Insha Contracting WLL” has been appointed as the main contractor for the development works of the project

Tender for the infrastructure works of the entire development project has recently been issued to member of specialized contractors with the aim to receive and undergo evaluation of the bids and appoint a contractor by April. The infrastructure works scope will entail the internal road network and lighting lampposts, electricity and water networks in addition to underground sewage network.

 Total cost of the development of the entire projects including the infrastructure works valued at approximately BHD 17.6 million (USD 47 million). Dr. Al Bastaki confirmed.

Dr. Al Bastaki added; “Manara is determined on developing its projects into more than just a living space. Its projects include facilities that create social interactions amongst residents and facilitate access to their daily living requirements in line with the national social housing strategy”. “Wadi Al Riffa” includes a shopping complex, a mosque, and a public park for residents”.

Manara” has adopted the national housing trends in providing cost-effective options to meet the housing requirements of Bahraini Households since 2010. Accordingly, Manara has established a number of leading residential projects that have set new construction and project delivery standards. Amongst those; “Tubli Gardens, “Wahat Al Muharraq”, “Investment Gateway – Bahrain”, “Hasabi”, “Kenaz Al Bahrain”, “Wahati” and other investment projects to support its strategy.

In line with the aim to provide comprehensive and convenient services to its clients, Dr. Al Bastaki added that Al Salam Bank – Bahrain, Manara’s parent company, is now an approved partner to provide financing to the ‘Mazaya’ program beneficiaries since the Ministry of Housing launched the program in 2013.

-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 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 2019

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