Residential units at Raffles City Bahrain showcased for the first time to Bahrain's public at the Property Arabia Exhibition

Located on 43,000 square metres of prime waterfront property within the greater Bahrain Bay development, Raffles City Bahrain represents the first truly integrated development in the GCC region and is the first Raffles City-branded development outside Asia.

The launch of the public sales builds on the hugely successful private sales initiative for the apartments in one of the residential towers which were launched in June this year.

In three weeks, it closed with approximately 80% of the available units booked.

The average sale price achieved for the units was higher than that of other high quality residential apartments in Bahrain, which was a testament of the premium placed on the preferred location of Raffles City Bahrain and the premium quality of its residential apartments as well as an endorsement of CapitaLand's real estate delivery track record.

CapitaLand manages the Shari'ah-compliant Raffles City Bahrain Fund which owns and develops Raffles City Bahrain.

"The choice to develop the internationally recognised Raffles City brand in Manama was built on a number of favourable factors, including the attractive Bahraini investment climate, the country's sound economic fundamentals and its burgeoning hospitality industry."

said Mr Wong Heang Fine, CEO of CapitaLand GCC Holdings Pte Ltd.

"Furthermore, our entrance into the rest of the GCC has been eased as we now have an established platform to display our track record of delivering quality real estate products and services to the region. The success we have seen thus far in the GCC has been recognised regionally with the prestigious CNBC Arabian Property Award in the category of 'Best Property, Bahrain'."

Designed by Rafael Viñoly Architects — the internationally acclaimed architectural firm headquartered in New York — the iconic Raffles City Bahrain integrated development will combine unsurpassed luxury living, fine dining and exclusive shopping in a unique location, ideal for both business and residential buyers, which is set to become the Kingdom's new city centre once complete.

Three curving apartment towers, varying in height from 34 to 41 storeys, form the backdrop of the integrated development, which rises above the 92,000-square metre luxury retail mall.

A total of twelve two-storey penthouses and over 600 luxury high-rise and terraced apartments combine with the 200 room 5-star serviced residence, managed by The Ascott Group - the largest international serviced residence owner-operator worldwide - to provide the exciting new design on Manama's growing skyline.

Below these, 50 terraced sky villa residences provide large, luxurious living for a select group of residents.

Each sky villa includes a private swimming pool, green landscaped terraces, courtyards, drive-up parking and garage access. The residential components of Raffles City Bahrain will be named in due course.

The public will be able to view the model for Raffles City Bahrain at Stand 105 in the Bahrain International Exhibition Centre during Property Arabia from 29 October - 1 November 2008.