“Manara Developments” Managing Director, Dr. Hasan Al-Bastaki announced that the company has sold more than 80% of phase two villas of the Wahat Al-Muharraq project in record time of which is attributed to its competitive pricing in respect to its unique designs, quality of construction and commitment to the project delivery dates.
Managing Director, Dr. Al-Bastaki said: “Phase two of Wahat Al-Muharraq is a continuation of the direction taken by “Manara Developments” to reinstate its position at the forefront of affordable residential property developers in the market that meets the requirements of Bahraini families in terms of modern interior and exterior designs with a close eye directed towards environmentally cautious construction”.
His Excellency Sheikh Khalid Bin Abdulla Al Khalifa, Deputy Prime Minister of the Kingdom of Bahrain had patronage the opening of the Wahat Al-Muharraq Phase 2 show villas held by “Manara” in the first week of July 2013, where it received astounding interest from the general public and prospective buyers on the presented show villas.
Dr. Al-Bastaki stated that construction works are ongoing in phase two of the project and has reached a completion of 70% of the project in anticipation of the delivery of 139 villas as per the preset delivery schedule stressing that “Manara” had prioritized its delivery schedule at the forefront of its commitments in consideration of the agreements with the unit owners and it has accordingly delivered upon this commitment in all of its projects.
On that note, he stated that all phase one units of Wahat Al-Muharraq project, comprised of 30 villas have been fully handed over to their owners which encouraged the company to proceed with phase two of the project homing more than three times the number of units in the previous phase in consideration of the overwhelming demand received as Dr. Al-Bastaki commented “successful in all respects”.
“Manara” had launched phase one of the Wahat Al-Muharraq project in 2011, of which received great interest from modern Bahraini families consequently encouraging the company to proceed with subsequent phases to meet the resultant demand for ownership from this unique residential project.
In addition, Dr. Al-Bastaki also revealed that the launch of the third phase of Wahat Al-Muharraq project will be announced in the near future after completing the finishing touches on the design layouts of which he stated will be a continuation of “Manara’s” commitment to the philosophy of excellence in all its projects, of which more details will be shared in due course.
Phase two of Wahat Al-Muharraq consists of 139 villas, of which (38) are attached villas, (77) semi-attached villas, and (24) detached villas all of which provide generous room space within the sphere of Moroccan and Tuscan (Italian) designs.
These units stand as an ideal choice for modern Bahraini families, especially with the availability of convenient government loans with a higher borrowing limit of 60 thousand dinars as it offers beneficiaries an opportunity for property ownership at a low cost in order to fulfill one of the most important steps in a modern family’s lifetime.
The company had previously launched an agreement with Eskan Bank aiming to entitle beneficiaries of Eskan Bank housing loans. As part of this agreement, Bahrain is benefiting from Government housing loans and Eskan Bank commercial loans could purchase property with the option of repayment in installments depending on the building phases as per an agreement between the three parties.