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His Highness the Crown Prince lays the foundation stone for USD110 million Tala Island Project

Bahrain: Tuesday, April 20 - 2004 @ 16:52

The ceremony, which took place on-site at Al-Saraya, another part of Amwaj Islands, was attended by key government officials, members of parliament, Shura Council members, diplomats, high officials from the private and public sector, as well as other invited guests.

The symbolic foundation stone laying took place on a giant 2 x 2 metre colour sand sculpture of Amwaj Islands, with a marble-made logo of Tala Island representing the actual stone.

Consequent to the ceremony, H.H the Crown Prince was given a tour of a beautifully furnished, Morrocan-style Al Saraya villa by Chairman of Tala Island, Mr. Bader Al Ali, and Chairman of Al-Marsa, Mr. Sa’oud Kanoo. Both chairmen also took his H.H on a short journey through key project images, which were displayed, on the exterior wall of the villa.

“Khaleej Development Co. (Tameer) formed an alliance with Ossis Real Estate Developers to undertake the operations of developing this 136,000m2 residential Island that consists of 88 villas and 561 apartments that gently curve around a calm lagoon, offering an exclusive lifestyle that one would naturally expect from a premium residential development,” said Mr. Al Ali.

“This secure “gated” residential community is the first of its kind in Bahrain with may homes having the luxury of a private beach and common facilities including an Aqua Park, retail areas, a sports centre and coffee shops,” Mr. Al Ali concluded.

Tala Island is expected to comprise nearly 48 luxurious beachfront villas, 42 two-story mid-size villas, 48 spacious apartments that include 12 penthouses as well as 31 blocks consisting of 365 apartments. In addition, there are nearly 148 simply designed apartments that offer a good view of the lagoon and the sea beyond. Prices range from BD 250,000 for a beachfront villa and BD38,000 for a typical apartment.

Al Khaleej is also in the process of finalizing a deal with an Islamic Financial Institution to offer clients a financial package that includes IJARA BIL TAMLOK Islamic financing that stretches over 15 years.

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Tuesday, April 20- 2004 @ 16:52 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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