Manara Developments Managing Director Dr. Hassan Al-Bastaki announced the completion of more than 20% of the phase one of Wahat Al-Muharraq development project, confirming that the project is moving according to schedule, that is, to carry out the agreements with prospective buyers looking to purchase exclusive units in the project.
“We are delighted to be working on the development of this leading project in the Muharraq governate, and by our progress to date, as Manara’s diverse and geographically distributed projects around the Kingdom, has established Manara as a leading company and an innovator of practical solutions in providing housing units for limited and middle income families, while maintaining high qualities and standards,” Dr. Al-Bastaki said.
The latest Wahat Al-Muharraq project progress report issued in September 2011 revealed the project’s latest updates, showing the commencement of reclamation of the site with five layers of high quality landfill and the application of the appropriate barriers.
The initial first run villas being constructed in parallel to the rest of the project have been equipped with the foundations for each villa, in addition to the roofing of the first floor.
“Manara Developments is committed to practicing absolute transparency with its clients, thus supplying them with periodical progress reports and this is the first progress report aided with photos depicting Wahat Al-Muharraq in its first phase,” he said.
Highlighting that growing interests from prospective buyers of Wahat Al-Muharraq units signaled an urgency to commence with planning the following stages of the project, which will project unique and innovative architectural designs, looking to diversify the modeling techniques while maintaining the main characteristics of the units in the first phase.
“It is expected to complete phase one of the project and handover of the villa’s to their owners by end of November 2012.”
Dr. Al-Bastaki also pointed out that the location of Wahat Al-Muharraq near Shaikh Khalifa Causeway was chosen with great care, and studied from all aspects to satisfy multiple housing needs and adequate living. He described the project as a living example representing the possibility of owning a house at reasonable prices, in a modern area with a sea view, and a blend of modern designs and practicality, whilst maintaining a high quality in both construction and the materials used in all phases throughout the project.
Phase one of the projects entails 47 villas, all designed with high precision to meet the requirements of limited income, modern Bahraini families, from the selection of the site, down to the fine details of the construction.
The modern unit designs cater for all the basic and luxury requirements within a comfortable space, yet allowing for the relocation of some services, in addition to the unit’s capacity for vertical construction in the future should the owner wish to do so. In addition to that, the units have been built using modern energy conservation designs to allow for natural lighting inside the villas, and equipped with minimum consumption applications thus classifying Wahat Al-Muharraq as an environmentally friendly project.
Each villa consists of three bedrooms, an inside and outside kitchen, two bathrooms, and living rooms, in addition to a garage with a capacity of two cars, and space to construct a backyard swimming pool.
“The project is close range to the airport and Khalifa Port. Wahat Al-Muharraq presents an excellent housing settlement, which is continuously growing, with breathtaking sea views, thus reinforcing our motto “considering all”, driving our philosophy throughout our development projects, and positioning our company at the forefront of development companies in Bahrain,” he said.
“The units are positioned as the ideal choice for 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. 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.