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Manara: Completion of more than 35% of Tubli Gardens project

Bahrain: Saturday, June 04 - 2011 @ 12:27

“We affirm our commitment before all our stakeholders to carrying out “Tubli Gardens” development plan which has taken a considerable leap forward so far,” Dr. Al-Bastaki added.

“Manara Developments” recently sent the first project progress report to its clients, showing the stages of five layers of reclamation of the site, insulation fitting, lying of foundations, laying down the ground floor and finally laying the roof slaps of the ground floor.

The project plan will include the construction of the 27 villas at once bringing the project through phase one.

Dr. Al-Bastaki also revealed that positive indicators at the start of phase one of “Tubli Gardens” encouraged the company to start planning for phases two and three of the project which worth approximately BD3m, and it is expected that the following phases will deliver the same number of villas, pointing out that the high demand on project units lead to planning of the following phases.

The company had recently revealed that it has signed an agreement with Eskan Bank aiming to entitle Bahraini beneficiaries of housing loans to own properties in the “Tubli Gardens” project. As part of this agreement Bahrainis benefiting from housing loans and Eskan Bank commercial loans could purchase property with the option to repay in installments depending on the building phases as per an agreement between the three parties.

Prices for these units depending on the specifications ordered by customers which suit their financing plans. Customers will also have the option of seeking additional finance from Bahrain Saudi Bank, which is an affiliate of Manara Developments, without the need for depositing more collateral by the depositor with Eskan Bank for this extra finance.

Dr. Al-Bastaki also pointed out that amongst the major factors that led to “Tubli Gardens” success were its family orientated designs, distinguished location, quality construction and finishing, and most importantly; competitive pricing.

Tubli Garden’s project consists of two design options, the first called “Typical villas, which are semi-detached with the adjacent villas, while there are bigger villas which are called “Corner villas.”

The Tubli Garden’s project conformed to modern designs catering for family privacy requirements in addition to modern energy conservation designs to allow for natural lighting inside the villas, in addition to that, its dependency on minimum energy consumption application which classifies “Tubli Gardens” as an environmentally friendly project due to its fine attention to detail.

Amongst the villas’ attributes is that its comfortable, and the freedom it provides to move and relocate some services, in addition to the capability of vertical construction in the future upon the provision of drawings of up to three floors based on the needs of the owner.

Each villa consists of three rooms and two kitchens (internal and external), three bathrooms and two halls, parking for two cars and the possible construction of a swimming pool in the backyard of the villa.

Dr. Al-Bastaki pointed out, “Choosing the location of the project was studied to be situated within the suburbs of Manama and close to King Fahad Causeway, and close to Bahrain’s main roads connecting to the Central Business districts of the capital, with access to services. These attributes contribute to Tubli Garden’s being as an ideal housing location of choice for Bahraini’s and GCC nationals looking to own property in Bahrain.”

“This is the best time to invest in properties in Bahrain, especially after Eskan Bank’s announcement of increasing the ceiling of housing loans to BD60,000, considering the market competitive prices” Dr. Al-Bastaki concluded.

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Saturday, June 4- 2011 @ 12:27 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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