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Manara starts phase two of Wahat Al Muharraq at a cost totaling BD18m

Bahrain: Saturday, August 25 - 2012 @ 13:13

He noted “The remarkable success achieved by Wahat Al Muharraq in its first phase led us to planning the next stages of the project. That came after witnessing the great demand for “Manara’s” housing units, which are considered reasonably priced and targeted to middle to limited income earners.”

Dr. Al Bastaki stressed that “Manara’s” projects, in both planning and execution phases, continue to set its position as a market leader in the provision of affordable housing which is compatible with the purchasing power of a wide range of home buyers in Bahrain, and those with housing applications with the Ministry of Housing.

Phase two of the Wahat Al Muharraq project comprises of 180 villas, 79 of which are attached to neighboring villas, 77 semi-attached and 24 standalone type villas, all of which are characterized by larger room sizes along with the three new themes that are unique to the houses in the second phase, and they are; the modern design, Moroccan design, and the Tuscan (Italian) design. These designs are spread amongst the attached and semi-attached villas, and are based on the requests of the homeowner.

Dr. Al Bastaki added that the attached villas consist of two living rooms, a kitchen, three bedrooms of which one is the master bedroom, a maid’s room and a laundry room, with the capacity to add an external kitchen and a second level, and two car park spaces.

The semi-attached villas of phase two have an external Majlis (living room) for those seeking privacy, as well as two halls, a large kitchen, three bedrooms, a spacious veranda, a maid’s room, a laundry room, and two car park spaces.

The standalone villas have a front and back yard, one of which can be converted into a swimming pool, four bedrooms (one master), two spacious kitchens, a maid’s room, a laundry room, a storage room, a spacious veranda, and two car park spaces. In addition, as with all other units of the project, the villa has the capacity to build an additional level.

He also stated that the villas prices will start from BD98.6 thousand while the whole project costs approximately BD18m.

Dr. Al Bastaki mentioned that the second phase of Wahat Al Muharraq is a likely spinoff of the first phase, as input from visitors of the project, including buyers, specialists and others who were making technical observations that benefited the engineers and designers greatly in planning for the second phase.

He stated: “Our goal is to build homes that suit the Bahraini Citizen regardless of his, because that is the quality of life that every individual is seeking, and every citizen has the right to enjoy the most adequate and practical housing that his income allows.”

Dr. Al Bastaki also stated that the units are positioned as the ideal choice for modern Bahraini families, especially with the recent government announcement to raise the borrowing ceiling to 60 thousand dinars. Beneficiaries of these government loans are given the opportunity to own modern housing units at low cost borrowing to fulfill one of the major necessities of life.

He pointed out that “Manara” is working closely with the public sector, namely the Ministry of Housing and Eskan Bank in synchronicity in terms of laying out plans and requirements, soon after His Excellency Sheikh Khalid Bin Abdulla Al Khalifa, Deputy Prime Minister’s remarks in which he supported the partnership model between the public and the private sector with a particular focus on “Manara’s” partnership with the government plans as the ideal partnership model.

The company had recently launched an agreement with Eskan Bank in May 2011 aiming to entitle Bahrainis benefiting from Government housing loans and Eskan Bank commercial loans to purchase properties with the option of repayment in installments depending on the building phases as per an agreement between the three parties.

“Manara Developments” is currently working on developing projects in parallel targeted mainly to middle to limited income earners in several locations within the Kingdom. Amongst these projects are: phase one of Janayin Al Hamala, a phase which will deliver 148 villas, and phase one of Wahat Al Muharraq, which is 70% complete, and the start of the project’s second phase, and the two phases of which will deliver 57 villas.

Dr. Al Bastaki added “Dealing with the home owners with full transparency is amongst the most important pillars guiding the company’s philosophy, as illustrative reports are sent to the home owners in order to brief them on the progress of the units that they own, and this enhances confidence in “Manara’s” projects, and project in the real estate market in general.”

He also noted that amongst the main attributes those characterize “Manara’s” projects are its artistic exterior designs with individualistic touches, practical interior designs, flexible spaces of the units, and commitment to quality, all of which are tied to the appropriate pricing to suit middle to limited income earners. All of which are factors which led the company to launch a number of similar projects in several locations in the Kingdom of Bahrain. All projects of which receive a great deal of interest. He clarified that the second phase of Wahat Al Muharraq, both phases of Tubli Gardens, and Janayin Al Hamala are nothing but the fruit of “Manara’s” solid commitment to these attributes.

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Saturday, August 25- 2012 @ 13:13 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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