Bahrain's Durrat Marina Project completes Phase 1; project on track for completion in 2017
Posted on 7th November 2014
Work on Bahrain's biggest marina is on track and the first phase of the specially designed waterfront residential project has been completed, according to a senior official.
The US$1.3 billion Durrat Marina will cover an area of 600,000 sq m and feature nearly 4,000 households, according to news reports on the Gulf Daily News (GDN)Bahrain-based investment company Inovest is involved in the project and executive director Mohammed Abdul Khaliq said the first phase, consisting of land reclamation, had been completed.
When finished, the development will include villas, apartments and a promenade with an array of cafes and restaurants, high-end boutiques and leisure activities for both Durrat Al Bahrain and Durrat Marina residents.
The project is jointly developed by Al Khaleej Development Company (Tameer), which holds a 60 per cent stake and whose portfolio is handled by Inovest, and Durrat Khaleej Al Bahrain.
It is among projects being showcased as part of the Bahrain Property Development Association Exhibition (BaPDEX 2014), which opened yesterday at City Centre Bahrain. Fifteen exhibitors are taking part in the five-day event organised by the association, including Diyar Al Muharraq, Manara Development, Naseej and Bin Faqeeh, the Housing Ministry and Royal Ambassador.
International real estate firm Cluttons and Bahrain-based property consultants Impact Estate launched the sale of new freehold apartments at Orchid Plaza, in Juffair, yesterday at the event. The project is expected to be completed by 2017 with 305 apartments available for sale from BD29,900 (US$ 78,846).
Six new residential projects in Amwaj Islands and Juffair were also showcased, along with master plans for Diyar Al Muharraq.
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