Press Releases

Bahrain achieved a major breakthrough when seven of its highest quality projects were named national winners at the MEED Quality Awards for Projects, in association with Mashreq. Bahrain’s national winners, whose combined project value is estimated at more than $787 million, include the Bahrain Four Seasons Project, entered by Six Construct, as Leisure and Tourism Project of the Year; Youth and Sports Affairs Ministry’s Hala Club Project as Small Project of the Year; Muharraq Sewage Treatment Plant and Sewer Conveyance System Project, entered by Arcadis, as Power and Water Project of the Year; and Tatweer Petroleum’s Light Oil Steam Flood Project as Oil and Gas Project of the Year, sponsored by Parsons. Bahrain Property Mushakara Trust’s Danaat Al Madina Project, entered by Eskan Properties Company, scooped a trio of national trophies in the following categories – Sustainable Project of the Year, sponsored by Besix; Residential Project of the Year and Mixed-use Project of the Year. “Bahrain’s construction industry is projected to exhibit sustainable growth prospects in the next few years. This industry experienced enormous investments from the public and private enterprises during the past few years and there are optimistic signs that this will continue. We congratulate all the winners for delivering and contributing towards the growth and sustainability of the industry,” Mashreq executive vice president and group head of corporate and investment banking John Iossifidis said. This is Bahrain’s best performance in the awards, with seven projects winning the national winner accolade compared with five in last year’s edition. They will now compete at the regional level against national winners from Kuwait, Oman, Qatar, Saudi Arabia and the UAE for GCC-wide recognition in various categories. “The projects were evaluated by an esteemed judging panel against criteria that included not only engineering and construction excellence; but also sustainability and innovation,” said MEEDeditorial director Richard Thompson. “They are a testament to the quality of projects being built throughout the Gulf and MEED is honoured to be able to recognise these achievements to highlight their contribution towards the future development of the projects industry in the region.” The winners of the 2016 MEED Quality Awards for Projects will be announced at a ceremony on May 25. For more information on this year’s awards programme, please visit www.MEED.com/MQAP. Source: GDNonline

Bin Faqeeh Group, a leading real estate investment firm, is set to break ground on Layan, a luxury residential property with a private water park coming up at Durrat Marina.

Also known as the Jewel of Bahrain, the Durrat Marina is already one of the most distinguished projects in the Gulf and is currently valued at $1.3 billion.

An ideal family retreat and the perfect weekend escape, Layan offers a variety of residential options including studios, one-bedroom apartments and duplexes, two-bedroom apartments as well as penthouses and villas.

The property prices at the Layan begin at BD55,000 ($144,928) onwards, said a statement from Bin Faqeeh.

A star attraction for the investors is that each villa in Layan comes with a combination of a luxury yacht and a car, it stated.

Work on the project will start by month end with completion expected approximately 24 months from now, said a company official.

“We take immense pride in our efforts to be the first in Bahrain in each and every one of our projects,” remarked Nadia Bouslama, the head of marketing for Bin Faqeeh.

To celebrate the launch of The Layan project, Bin Faqeeh had organised the kingdom’s first “Dining in the Sky” event on Wednesday which will be followed by a two-day carnival packed with activities and entertainment.

The “Dining in the Sky” event began with a grand reception in the garden. Guests were ushered into the garden area or relaxed in the shade of the tents as they listened to soft music and enjoyed light refreshments.

The diners were then comfortably strapped in seats secured to a dining table and lifted about 50 m into the air by a crane. Once at the top, caterers served food and refreshments while diners got to enjoy the breath taking views of Layan-in-the-making.

Its unique features include picturesque landscaping, in-water movie theatres, in-water restaurants and a wave pools with a surf area.

On the Dining in the Sky event, Bouslama.”We took this style to the next level by being the first in terms of events as well as project concepts. We are constantly working on new and exciting projects and cannot wait to continue unveiling new projects for the Limited 5.”

A table holding 32 guests at a time was carried high into the sky at four different times per day to allow guests to enjoy a dining experience like never before, explained Bouslama.

Different guests enjoyed different meals at varied times of day as breakfast, lunch, high tea and dinner were served at some point, she added.

In keeping with their theme of “first in everything,” Bin Faqeeh is combining a myriad of different activities in one place.

The carnival on March 25 and 26 will offer a wide selection of different shows including fire shows, music shows and water shows. Families with young children will have the chance to leave their children with trusted nannies in “toddler tents” in order for them to enjoy other activities, said the official.

The two family days will take place in a peaceful and secluded area in Durrat Marina, she stated.

“Other activities include a petting zoo, rubber duck fishing and horseback riding. In an effort to stay current in electronics, the carnival will also host virtual reality experiences, Wii games and PS4 games. Finally, adults can sit back and enjoy the selection of dining options in relaxing atmospheres,” said Bouslama.

The carnival keeps in tune with the brand’s luxury standard in its offering of a getaway within Bahrain, she added.

 

Source: Trade Arabia

Manama: Durrat Marina has announced the signing of a land sale and development agreement with Bin Faqeeh Real Estate Investment Company.

The four plots adding up to more than 15,000sqm, acquired under the agreement by Bin Faqeeh, are in phase II of the $1.3 billion Durrat Marina project.

The land will be the site of Layan, a high-end mixed-use retail, commercial and residential project valued at BD30m ($79.5m), which was announced earlier by Bin Faqeeh.

The project’s design features a centralised water park fully encompassed within the grounds of a residential complex having more than 200 homes ranging from studios, one-, two- and three-bedroom apartments, duplexes, penthouses and villas.

It will include serviced apartments, branded residences and villas alongside a retail strip with food and beverage outlets facing the main quay walkway and a multistorey car park.

Durrat Marina chairman Bader Al Adsani said the project would encourage further investment in phase II of the master-planned development.

“We are thrilled to have Bin Faqeeh on board with us for their second project and we look forward to further collaboration with them in the future.”

Chief executive Waleed Saffy said the latest deal with Bin Faqeeh will help move the project from phase I which is on the verge of completion to phase II where the infrastructure is well underway for upcoming developments.

“The new ambitious Bin Faqeeh project embodies the Durrat Marina lifestyle as a private development concept that provides luxury, privacy and security in an integrated modern fully serviced environment.”

This is Bin Faqeeh’s second project in Durrat Marina. It is developing the 360 Tower – a 14-storey residential building in phase I of the project.

Bin Faqeeh chairman Faisal Faqeeh said he was confident of the project’s success due to its prime location.

“Our new project is targeted at buyers looking for sophisticated residential solutions in a modern environment,” he added.

Source: GDNonline

The Saudi government is set to spend around SR2 billion ($533 million) on projects aimed at enhancing water security in the Makkah region, said a report.

The project being implemented by National Water Company (NWC) covers Makkah, Jeddah and Taif and on completion it will boost the water capacity by 5.4 million cu m, reported the Arab News, citing a senior minister.

The project would be carried out in three phases, with Jeddah getting an additional capacity of 4 million cu m at a cost of SR1.5 billion ($399 million), stated Abdullah Al Hussayen, water and electricity minister and chairman of the NWC board.

“The goal is to increase the operational efficiency of the water sector and keep up with the demand from other neighbourhoods. The cost of this phase will be more than SR219 million ($58.3 million),” he was quoted as saying in the report.

He said the company would also upgrade nine sewage treatment plants serving the three cities from 540,000 to 1.5 million cu m a day, and to boost its quality with triple treatment.

 

Source: Tradearabia.com

Seef Properties, a leading real estate development company in Bahrain, has appointed Ahmed Yusuf, a property industry veteran, as its new chief executive officer.
A graduate of the University of Kuwait with a Bachelor’s degree in Civil Engineering, Yusuf bring with him a wealth of experience heading numerous property investment companies in Bahrain and Kuwait.

He has also completed the AMDP program from School of Design at Harvard University, said a statement from Seef Properties.

On the appointment, Yusuf said: “I am honoured to have been named the CEO. Seef Properties is a change leader in its market sector and the company’s philosophy is based on new and innovative thinking. Such philosophy has enabled us to grow with resilience and strength during the past few years.”

“We have recently announced our plans for 2016 which includes the evaluation of a number of investment opportunities; a strategic platform for growth,” stated the top official.

“I am look forward to working with the team to deliver the board’s ambitious plans and strategies and move products and services up to a whole new level, further positioning Seef Properties as a leader within the real estate development sector,” he added.

Headquartered in Bahrain, Seef Properties was established in 1999 as a publicly listed company with more than 450 assets across the kingdom.

 

Source: Tradearabia.com