MANAMA: Amlak, the real estate investment arm and a wholly-owned subsidiary of the Social Insurance Organization (SIO), announced the launch of the Bahrain Marina development project with a planned construction work commencing by the third quarter of 2015.
Adopting modern urban design; the new project will span nearly 150,000 square meters covering the existing area of the current Marina Club and will offer state-of-the-art residential, entertainment, leisure and marina facilities in the heart of the Capital, Manama.
“This stunning development matches our aspiration to convert the existing Marina Club into a world-class facility project and a national landmark,” Amlak in a statement, said.
Set for five-star status, the Bahrain Marina is integrated with landscaped gardens and an abundance of water features. The planned development stretches along a pristine coastline and is positioned as the Kingdom’s prime lifestyle and leisure destination.
Aiming for completion by 2019; the mixed-used project will include five star luxury hotel and serviced apartments along with freehold apartments and waterfront villas, shopping mall, fully-integrated family entertainment and educational centre and a recreational waterfront space with dining and retail spaces. The yacht club will cover an impressive area with the capacity of birthing over 300 boats of different sizes.
“Amlak’s mandate is to drive investment strategies for SIO. The team behind Amlak comes from a wealth of experience,” the company said adding that, “Bahrain Marina is the first project announced since the inception of Amlak and the company is extremely confident of the return on this project.”