After the inauguration and a walk through the mock-up villas, HE Sheikh Khalid bin Abdulla Al Khalifa highlighted the significance of the affordable houses, which are deemed now to be an option for middle income families in several countries, and Bahrain is certainly one of them in line with the housing plans adapted by the country.
His Excellency Sheikh Khalid Bin Abdulla Al Khalifa said: that the development of affordable housing for citizens receives high attention by the Government, which welcomes any efforts and all forms of positive cooperation with the private sector, which has become a significant partner in many aspects of development. Manara’s leading efforts as a successful partnership model with the Government was praised.
Mr. Yousif Taqi, Chairman of “Manara Developments” confirmed that the Company will effectively contribute to develop the housing sector in the Kingdom of Bahrain and Manara is deemed as a key partner to the Bahraini Government in creating affordable housing solutions with a core focus on ensuring various outlets and solutions pertaining to housing issues.
Mr. Taqi expressed his deep thanks and appreciation to HE Sheikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister, for patronizing the launch of “Wahat Al-Muharraq“ villas today, confirming that the presence of His Excellency in this occasion is evidence that the Government is deeply interested in the contributions made by the private sector in the field of housing. Surely, these steps will reinforce the partnership between the Government and Manara Developments Company, as two sectors complementing each other, and also boost real cooperation in the future.
“Manara Developments” launched phase 1 of “Wahat Al-Muharraq” Project last year. That came after witnessing the great demand for “Manara’s” housing units by modern Bahraini families, which have led the Company to planning the completion of the second phase.
Dr. Hasan Al Bastaki, Managing Director of “Manara Developments”, indicated that “Manara Developments” provides all the information required by potential buyers in the mock-up villas put in display. These villas are designed to ensure that on-site viewing objectives are achieved, learning about architectural details upon which these housing units are to be designed through giving more illustrations about villas for interested visitors, along with various financing methods aiming to facilitate housing units purchase.
The display of the second phase of “Wahat Al-Muharraq” villas includes two Moroccan-style villas and two Tuscany (Italian) style villas. They are fully equipped, attached and semi-attached villas.
Dr. Hasan Al Bastaki said the total number of housing units in the project, which has an estimated value of BD24,7m, is 227 villas. The project’s first phase, which consists of 30 units has been completed and sold, the second phase consists of 197 villas ,of which 96 are attached to neighboring villas , 77 semi-attached ,and 24 villa are 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 of “Wahat Al-Muharraq. These designs are modern, Moroccan, and Tuscany (Italian).
The “Wahat Al-Muharraq” villas’ prices start from BD98 thousand while the final price depends on type and the plot size of the villa.
The units are positioned as the ideal choice for modern Bahraini families, especially with the availability of Government housing loans which reaches up to BD 60 thousand which provide the beneficiaries of these loans with the opportunity of owning modern houses at a low cost borrowing to fulfill one of the major necessities of life for the family.
The company had earlier signed an agreement with Eskan Bank aiming to entitle nationals to own appropriate housing units at Wahat Al-Muharraq Project .Under this agreement, Bahrainis who are beneficiaries of housing loans and Eskan Bank’s loans will be able to purchase properties with the option of repayment in installments depending on the building phases as per an agreement between the three parties.
Wednesday, July 3- 2013 @ 13:22 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.