>> 24-12-2011

 

Deputy Prime Minister HE Sheikh Khalid bin Abdulla Al Khalifa stated that an effective partnership between the public and the private sector is a prime enabler to achieve the Kingdom’s strategy which benefits citizens and accelerates the completion of development projects, and furthermore and maximizes returns to everyone. “Manara Developments” is the ideal example of this partnership which contributes greatly to the housing sector plans of the Kingdom of Bahrain.

This came during the inauguration ceremony, that HE Sheikh Khalid bin Abdulla Al Khalifa attended at “Manara’s” temporary marketing center in Bahrain City Center Complex near Carrefour, this morning (24 December 2011), which number of ministers and several government officials attended as well as a large crowd of industry enthusiasts.

HE Sheikh Khalid bin Abdulla Al Khalifa also added: “Manara Developments” is one of the leading property developers which satisfies the citizen’s needs through innovative housing solutions to those seeking units at affordable prices. The units offered by “Manara” meets the ever-growing demand for appropriate modern housing locally, and at suitable prices that reflect the quality efforts exerted these trendy designs and quality of materials used to bring this establishment to life”.

The Deputy Prime Minister commented on the supplementary materials offered at the stands, pointing out the various designs offered by the company in both projects; “Janayin Al-Hamala” in phase one, and “Wahat Al-Muharraq” in phase two. The offered units represent a major vital leap forward in terms of design specifications for limited income buyers. He stated: “The current developments resultant from the growth in the construction industry faced by the Kingdom of Bahrain, must be harnessed with a suitable offering of housing projects to reflect the new heights of progress reached by the Kingdom”.

“Manara” had presented in its marketing center, which will remain in its current location in Bahrain City Center Complex until 22 January 2012, its two leading projects which are part of all the rest of the developments managed by “Manara”, of which have attained considerable interest from buyers.

On this occasion, the Chairman of the board of “Manara Developments” Mr. Yousif Taqi – on behalf of the company- extended his appreciation to his HE Sheikh Khalid bin Abdulla Al Khalifa, for inaugurating the two housing projects. He also said: “the attention and support paid by His Excellency comes as no surprise, as an extension of the government’s one of many efforts to consolidate cooperation between the private and the public sector. “This care and support will enable us to take continuous leaps forward to seek innovative solutions that would establish our solid contributions to housing in the Kingdom of Bahrain, particularly catering to the limited to middle income groups.

Mr. Taqi also said: “the real estate sector is amongst the liveliest and most prominent sectors in Bahrain, and we at “Manara” are keen to offer innovative real estate solutions to fuel the liveliness of this sector”. He pointed out that there is a number of new projects, or new phases of existing projects that “Manara” is currently working on developing, and will be launched in the near future. Also stressing that: “we are committed to our plans which position us as prominent industry leaders, and housing solutions providers, mainly catering for limited income groups in the Kingdom. And considering the current support received by the government of Bahrain, we are certain to be fulfilling our objectives”.

On his part, Managing Director of “Manara Developments”, Dr. Hassan Al-Bastaki stated that “Janayin Al-Hamala” which has been launched on the day of the opening, will begin its first phase thus constructing 148 villas’, 20 of which are individual villas, and 72 semi-connected villa’s and 56 fully connected villa’s. Amongst the villas’ main attributes are the spacious rooms, as all the villas consist of 3 bedrooms, a kitchen, two parking spaces, a maid’s room, and a laundry room for semi-connected and connected villas, with the capacity to build a third level should the owner wish to do so.

As for the individual villas, they consist of a front and back yard, three bedrooms, one of which is a master bedroom, and a second level living room which can be converted to a fourth bedroom, an external and internal kitchen, two car parks, and space to construct a swimming pool. The roofs of the villas were designed to allow for an extra level to be constructed, as the foundations were enforced to sustain the bottom level and two additional levels on top.

Prices for the connected villas start from BHD 78.9 thousand, semi-connected starting from BHD 92 thousand, and individual villas from BHD 126 thousand.

Dr. Al-Bastaki confirmed that “Janayin Al-Hamala” in its different phases will hold hundreds of housing units containing all three categories. Upon the completion of the project, the site will contain a wide variety of services, such as shopping districts, schools, clinics, and mosques. These infrastructure developments will be completed accordingly to ensure that homeowners receive their villa’s with a complete range of services close by. “Janayin Al-Hamala” is expected to generate great interest amongst perspective buyers as the development enjoys the highest level of quality in all building phases and modern designs.

The development covers a total of 31.676 thousand square meters, costing approximately BHD 13.5 million, and will begin work next March 2012 and carry on for 24 months thus concluding its first phase in March 2014.

On the other hand, “Manara” is also introducing its second phase of its project “Wahat Al-Muharraq” which covers a total area of 48.7 thousand square meters at a total cost of BHD 20 Million to build 180 units. This is a continuation to the first phase, which gained a great deal of interest amongst buyers upon the first offering of houses. This interest is mainly attributed to its unique location, and its consideration for Bahraini privacy preferences, as is attributed to all our projects.

Phase two of “Wahat Al-Muharraq” will feature 24 individual villas, 77 semi-connected, and 79 connected villas, thus ensuring that home owners are presented with a wide range of options to balance between preferences, needs, and affordability. The project will start work in March 2012 and carry on for 24 months thus concluding phase two in March 2014, as per the timeline.

Dr. Al-Bastaki added that they had gathered considerable input before planning for the second phase of “Wahaat AlMuharraq”, amongst the most important considerations in phase two are “larger bedroom sizes”, and stated: “we have devised three new themes for the units in phase two; Moroccan, Tuscan, and finally, the modern theme. These themes are spread across all three categories of units. Perspective buyers are thus presented with several options to choose from as per their preferences, as all units are enriched with two faces overlooking the streets.

Connected villas consist of two living rooms, a kitchen, and three bedrooms, one of which is the master bedroom, and a maid’s room in addition to a laundry room. In addition to that, the villas may absorb an additional external kitchen as well as an additional level. Prices for these villas start from BHD 98.6 thousand.


Semi-connected villas consist of three bedrooms, two living rooms, a private majles for those who prefer additional privacy, a large kitchen, and a spacious veranda. In addition, a maid’s room, a laundry room, and two parking spaces. Prices start from BHD 120 thousand.

As for the individual villas, they consist of a front and back yard, with a capacity to construct a swimming pool, four bedrooms, one of which is a master bedroom, two spacious kitchens, a maid’s room, a laundry room, a storage room, a spacious veranda, and two parking spaces. Prices of these villas start from BHD 168 thousand. In addition, the villa is capable of sustaining an additional level should the owner wish to do so.

Dr. Al-Bastaki also confirmed that the units are positioned as the ideal choice for modern Bahraini families, especially with the recent government announcement to raise the borrowing ceiling to 60 thousand dinars. Beneficiaries of these government loans are given the opportunity to own modern housing units at low cost borrowing to fulfill one of the major necessities of life.

He announced: “A special promotional discount will be offered to the first 15 applicants looking to reserve and purchase units from each of our projects at the temporary center at the Bahrain City Center Complex. He pointed out the success of the projects launched since the summer of 2010 which indicated a large increase in the number of interested buyers looking to purchase from “Manara’s” developments, mainly due to the fine quality, affordability, and timeliness of delivery.  

The company had recently launched an agreement with Eskan Bank aiming to entitle beneficiaries of housing loans to own properties in Wahat Al-Muharraq. As part of this agreement, Bahrainis benefiting from Government housing loans and Eskan Bank commercial loans, could purchase property with the option of repayment in installments depending on the building phases as per an agreement between the three parties.

This partnership between Manara Developments and Eskan Bank came as a spinoff from Manara’s initiative to cooperate with government agencies of large customer bases to ensure its active contribution in development and housing projects in the Kingdom of Bahrain. That is achieved by applying its expertise in constructing housing units suitable for the family oriented nature of the society of Bahrain, and through the provision of the appropriate financing options customized specifically for the needs of its customers.

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