MANAMA: Manara Developments, the Kingdom’s leading realty developer announced the kick start of the sale of phase two of the Investment Gateway-Bahrain project.
This follows a remarkable success achieved in phase one of Sales of the project which was sold out in few months’ time.
Dr. Hasan Al Bastaki expressed the company’s contentment with the sales achievements within the first week of the launch of phase two of sales transactions of the project as it generated tremendous interest of which exceeded its expectations following the successes of phase one of sales.
“Though the success of phase two of Sales of Investment Gateway-Bahrain was undoubtedly expected, especially after a significant number of the leading companies took on the plots as a strategic base location for themselves, the rate of which the plots were sold were nothing short of a pleasant surprise for us, portraying Bahrain’s Institutions’ visions and the value of which these plots will bring upon their businesses”.
“Manara had initially intended to announce the launch of phase two of Sales of Investment Gateway – Bahrain into the market during the earlier stages of the project, however, the overwhelming interest received on phase one of Sales, and the astounding sales achieved in record time drove us to speed up the launch of phase two of sales for plots without hesitation.”
Dr. Al Bastaki also added that the local market was yearning for the distinctive qualities offered in Investment Gateway – Bahrain that has never been offered before in the local market.
Being situated between Bahrain International Airport and Shaikh Khalifa Bin Salman Port and within close proximity to Mina Salman and other industrial locations, has given the project a unique meeting point for the Kingdom’s most prominent commercial institutions ranging from wholesale, to retail, to light industry, in addition to automotive trading amongst various business activities.
A number of well-established companies such as Ebrahim Khalil Kanoo, Yousif Khalil Al Moayyed & Sons, Montreal Motors Co., Trafco Group, Ceramica Delmon and Bahrain Limo, in addition to Ramez Group, UCO Marine Constructing, Mohammed Ali Zainal Co. (Maza) and more have taken Investment Gateway – Bahrain as an operating base to expand their businesses.
Dr. Al Bastaki reiterated that amongst the main indicators leading to the launch of phase two of Sales of the project is the existence of a long waiting list of prospective investors looking to own properties and invest in the Muharraq Governorate, being a significant location within the limits of the Kingdom of Bahrain, homing major air and sea ports, and within close proximity to the Capital and Mina Salman.
In addition to its many distinguishing features, the project is an attractive property for investors as it offers great flexibility for its owners with long term strategic investment plans in this lively location.
This is the first project dedicated to light industry and commercial activities in the Muharraq Governorate enabling the investor to obtain ownership of the land and is therefore not subject to a limited lease period, as is generally a main constraint in other industrial areas in the Muharraq Governorate. Moreover the owner has the choice to best utilize the property in whatever way is seen suitable to the land and the purpose of the investment.
The locations will have the capacity to serve as offices, showrooms, storage facilities, handling services, and sales offices, all of which are basic requirements to undergo a smooth business in the Kingdom of Bahrain and particularly in Muharraq.