Events

Bahrain had issued 95 tenders worth BD363 million ($956 million) last year to build hundreds of residential units in the kingdom as part of the government’s housing plan, said a report.

The number of projects funded by the general state budget had increased by six per cent in 2015 over the previous year, reported the BNA citing the Minister of Housing Bassem Al Hamer.

A total of 51 tenders worth BD168 million ($442 million) have already been awarded, stated the minister at the Cabinet session on Monday which reviewed steps taken as part of the government’s housing action plan.

The other projects, funded by the GCC Development Programme, have also been put out to tender, stated the minister.

These include the first phase of the 1,580-unit Southern Governorate project; the second phase of the 577-unit Northern City project; the 389-unit Hidd project and the 746-unit Phase Two of the Sitra project, he added.

The minister’s report also highlighted the social and economic housing projects implemented by public and private sector partnerships in the kingdom.

These include 1,618 social housing units and 368 economic housing units in the Northern Town, besides the 832 social housing units in Al Lawzi region worth BD162 million ($427 million), which are 25 per cent complete, the report added.

Source: Tradearabia.com

First Bahrain, an innovative real estate developer, will be launching a new neighbourhood retail centre El Mercado Janabiya at the upcoming Gulf Property Show, a boutique showcase for real estate and property development in the Northern Gulf.

A key regional event being organised by Bahrain-based Hilal Conferences and Exhibitions (HCE), the Gulf Property Show will be held from April 26 to 28 under the patronage of HRH Prince Khalifa bin Salman Al Khalifa, Prime Minister of Bahrain at the Bahrain International Exhibition and Convention Centre.

Due for opening shortly after the exhibition, El Mercado Janabiya will deliver a broad array of services and food and beverage options to southern Saar and Janabiya, said a top official.

“We are very proud to exhibit our latest development, El Mercado – Janabiya, at the Gulf Property Show,” remarked Amin Al Arrayed, the chief executive of First Bahrain.

“The feedback that we have received from the neighbouring residents of Janabiya and Saar as well as prospective tenants has been overwhelmingly positive which encourages and reassures our belief in our new project debuting at the show,” he noted.

According to him, the construction and landscaping are in their final stages of completion with a soft opening scheduled for May 2016.

“Already 80 per cent leased, the open-air marketplace is sure to become a favourite place to shop and eat with family and friends,” he stated.

Along with the newest and largest Al Osra Supermarket in Bahrain, the market will feature an elegant ladies’ salon, a classic barber for men, and an educational toy shop.

El Mercado Janabiya is actively seeking services to complement the existing offerings including a bank, laundry, and optician shop, it stated.

Lauding the project, Jubran Abdulrahman, the managing director of HCE, said: “El Mercado provides a high-class development from a reputable institution for visitors at Gulf Property Show. The state-of-the-art development demonstrates the quality First Bahrain delivers in all its projects, creating a memorable lifestyle experience that meets real market needs.”

Gulf Property Show’s strategic sponsors are Diyar Al Muharraq and Manara Developments in association with the Bahrain Property Developers Association (Bapda).

First Bahrain, which was established in Kuwait in 2004, has a paid-up capital of KD23.3 million ($78 million) and owns or holds rights to over 1 million sq ft of strategically located lands in Bahrain.

Dedicated to achieving sustainable returns through collaborative relationships, First Bahrain creates enduring value for all stakeholders with a demand-driven investment approach.

Operating out of Bahrain and Kuwait, the company is well known for Majaal, an SME (small and medium enterprises)-focused industrial facilities development at the Bahrain Investment Wharf in Hidd.

The $40-million complex includes seven buildings which are fully leased to a diverse portfolio of tenants, generating stable cash flow for the company.

Building on its success in industrial property, First Bahrain now expands into commercial development with El Mercado Janabiya, a neighbourhood market built on an open-air elevated platform, which is due to open to the public in Spring 2016.-TradeArabia News Service

Source: TradeArabia.com

Impact Estate presents UK-based property investment in City Centre

March 2016, Manama, Kingdom of Bahrain: Impact Estate w.l.l. is set to launch UK-based investment opportunities  at its exclusive stand in the City Centre of Bahrain from 10th to 12^th of March 2016. During three days sales team of the company’s International Properties Department will present special deals for investors interested to invest in the United Kingdom.

The expansion into the International Property market is a new and exciting chapter for the award-winning company.  Stable and secure property market in the UK has been attracting property investors from around the globe.  Therefore, Impact Estate has recently joined forces with some of the most prestigious developers in the United Kingdom, and now the company’s ever-growing property portfolio includes exclusive projects in York, Manchester, Liverpool, and Nottingham.

Among the projects which will be presented by Impact Estate in the gallery of the City Centre are student accommodations in Liverpool and York as well as water-front apartments in Manchester.  With the prices starting from BHD 38,000, all properties have advantageous location, high quality modern design and 6-8 % annual returns.

The Developer’s representative from UK, will be available at the stand to answer questions and give investment information about the projects.  Additionally, Impact Estate will run a raffle among the clients who would book one of the units during three days of the promotion in City Centre.  The lucky winner will be offered a return ticket to UK to visit the property.

Oksana A. Konyshevska, General Manager of Impact Estate w.l.l. says: “We are excited to offer new investment opportunities to our clients.  Even that Bahrain is very attractive in terms of property investments, some buyers are looking for real estate outside of the Kingdom.  With UK’s property market considered as one of the safest investment in the world, we are confident to offer our clients international projects with high levels of consistent capital growth and dependable returns.”

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Award winning Impact Estate w.l.l. is a subsidiary of Impact w.l.l. and is a privately held full-service real estate company based in the Kingdom of Bahrain.  The focus of the company is to provide unrivalled and specialized service and consultancy in the real estate sector.  Impact Estate was founded in 2008, and over the years has successfully completed numerous projects worth in excess of US$ 200 million.  As a result of company’s various services and the outstanding market knowledge, Impact Estate achieved prestigious Arabian Property Awards for two consecutive years, including ‘Best Real Estate Consultancy in Bahrain’, ‘Highly Commended Real Estate Brokerage in Bahrain’ and ‘Highly Commended Real Estate Marketing’.

The company’s expertise covers project marketing including feasibility studies, market assessment and project launching, property and building management together with rental activities and tenancy management, commercial and residential property brokerage as well as relocation.  A diversified team of highly competent and knowledgeable professionals with a considerable experience is keen to help clients successfully meet their real estate objectives. Personalized client service and high professionalism attract developers and landlords as well as individual and corporate clients. Impact Estate has a strong reputation built on providing solutions, trust, respect, and responsiveness and is now one of the most sought after companies for real estate advisory and consultancy in Bahrain.  The company has a proven track record having successfully completed numerous client projects worth in excess of US$ 200 million. More information on our services is available at www.impact-estate.com.