Bahrain Real Estate Investment Company (Edamah) said more than 70 per cent of the commercial units within its premium mixed-use project, Sa’ada, located in Muharraq area of the kingdom, has been leased out.
Edamah, the real estate unit of the kingdom's sovereign wealth fund Mumtalakat
, said it had invested BD7 million ($18.4 million) for the Phase One of Sa'ada.
Coming up on a total area of more than 13,000 sq m, the premium development will boast multi-purpose commercial outlets, restaurants, entertainment halls, sports halls, a park and public spaces.
Sa’ada also features a variety of public facilities, including kiosks and a promenade alongside various other services, enabling the development to emerge as a value-adding project for the community at large, said the statement from Edamah.
The project’s success in attracting globally renowned and local brands, famous restaurants and fitness halls reflects keenness to implement HRH Prime Minister Prince Khalifa bin Salman Al Khalifa’s vision, remarked Edamah CEO Amin Al Arrayed.
He also lauded the Deputy Premier and Board of Directors Chairman of the Bahrain Mumtalakat Holding Company (Mumtalakat), Shaikh Khalid bin Abdulla Al Khalifa, for his close follow-up on the progress of the project.
Al Arrayed said some of the tenants have already started operating their commercial activities partially, while the remaining ones have not begun yet due to the issues related to Covid-19 pandemic.
According to him, the remaining nine commercial outlets will be offered for lease at competitive prices, in accordance with the same principles applied while leasing the other 25 outlets.
Al Arrayed said Edamah had completed the Phase One of the project as per schedule and had begun work on the second phase.-TradeArabia News Service
Copyright 2020 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).