The Lagoon Bahrain construction gathers pace

Negotiations are also taking place with a leading European contractor for the design and installation of floating structures to support four of the development's restaurants, and a floating stage to serve as a venue for open-air concerts.

Mr. Rashad Janahi, CEO of Abu Dhabi Investment House, said, "Construction work on this ambitious project is progressing smoothly and over most of the site the first floor structures are becoming visible. Seeing the development start to take shape is exciting for all the parties involved and a proud moment. We're making our dreams a reality and contributing a wonderful landmark for the future prosperity of Bahrain."

Lying at the heart of a new community, The Lagoon, part of Amwaj Islands off the coast of Muharraq, comprises eight low-rise buildings for high-end consumer retail, leisure and food and beverage outlets. Covering a total land area of 55,000 square metres, the development is due for completion in September and represents an investment of more than US$90 million.

Ahmed Mansoor Al-Aali Company (AMA) of Bahrain is carrying out the piling work and is the construction manager of the project. Mr. Jalal Al-Aali, CEO of AMA, said, "The Lagoon Bahrain is a prestigious name to add to the AMA portfolio, and we're delighted to be part of a successful team."

He added, "Despite the scale of the project and the sophisiticated engineering involved, construction of The Lagoon Bahrain is gathering pace and meeting the most stringent international quality standards."

Abu Dhabi Investment House of the UAE recently signed a Memorandum of Understanding with Reef - Real Estate Finance Company to offer mortgage packages to The Lagoon investors.

The Lagoon's masterplan takes inspiration from international shopping and dining destinations such as London's Covent Garden and Cockle Bay Wharf in Sydney.

Made up of 2.75 million square metres of reclaimed land, Amwaj Island will accommodate more than 35,000 people and host educational facilities, commercial districts, and spectacular hotels and tourist attractions.