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227 Housing Units Valued at over 25 Million Bahraini Dinars
Manama - Manara Developments: Managing Director of leading Real Estate Development Company Dr. Hasan Al Bastaki announced the approach of the final steps towards handing over phase 3 of the "Wahat Al Muharraq" project by third week of October. He reiterated that 70% of phase 2 units have been handed over to their owners and "Manara" is in progress of handing over the remaining units.
Dr. Hasan officially announced that the timely handover of units demonstrates "Manara's" strong commitment to meeting its implementation schedules and preset timelines. He added: "these projects are mainly directed towards funding programs for social housing as agreed with the Ministry of Housing of the Kingdom of Bahrain and Eskan Bank of Bahrain. Moreover, we are conscious of the importance of eligible citizens receiving funding for housing units in a timely manner, as a suitable living space plays a crucial role towards the stability of the modern Bahraini Family".
Dr. Al Bastaki reiterated the company's success in its early cooperation with the Ministry of Housing of the Kingdom of Bahrain and Eskan Bank in the Social Housing Financing Scheme (SHFS), describing this bond as a "strong partnership" between the two parties, as "Manara" continuously aims to cooperate with the public sector to fulfill the Kingdoms social housing needs. He added that "Manara" did not hesitate to establish this partnership with the esteemed Government of Bahrain mainly due to its inherent sense of responsibility, and its confidence of its ability to lead these projects towards ultimate success and successful handover to their beneficiaries.
He also added that "Manara" is committed towards its philosophy of "All Considered" and continues to effectively deliver upon this commitment with full transparency, thus further reinforcing its position as a leading real estate developer in the region, stressing that this philosophy continues to guide the company's vision towards serving everyone's interests and fulfilling their needs.
"Manara" is amongst the first partners who entered an agreement with Ministry of Housing in 2013 to be an authorized developer that meets the ministry's standards in social housing programs, and as an ideal choice for Bahraini National beneficiaries, with Al Salam Bank as a financing body for prospective homeowners.
Phase 3 of Wahat Al Muharraq consists of 58 attached villas that were designed to encompass the highest architectural and construction standards, of which 41 were Moroccan inspired designs and 17 modern designed villas. All of which fall within the range of affordable housing to serve middle to limited income households, thus not exceeding 120 thousand Bahraini Dinars.
On that note, Dr. Al Bastaki highlighted that the units were well received upon launching them into the market, mainly due to 'Manara's' aim to create the ideal choice for modern Bahraini families looking for high quality construction and environmentally friendly specs to meet their needs, notwithstanding the affordable pricing and "Manara's" reputation built over the years throughout all its past development projects in accordance with the requirements of its clientele and most importantly, its strict abidance with the delivery schedule determined at the purchase of the units.
It is known that all the 227 units in the three phases of the project "Wahat Al Muharraq have been sold at record timing since launching them in the market.
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 2015
