'The Lagoon' interest pours in

Investors, mainly from the Gulf region, have been quick to take advantage of the first opportunity in the Gulf to own premium freehold food and beverage and boutique retail outlets at the waterfront development.

ADIH's real estate development director, Amer Al Khan, is delighted with the overwhelming response.

He said: 'The Lagoon's marketing office has been inundated with requests for more information from lots of potential buyers and investors, excited by the prospect of The Lagoon Bahrain bringing an influx of tourism and employment opportunities to the area.

'We are extremely pleased with this amazing reaction and are determined to make this truly groundbreaking opportunity work for investors and the Kingdom of Bahrain.'

Al Khan explained: 'With Amwaj Island being transformed into a lively city, The Lagoon is set to become one of the top tourism destinations in Bahrain.

'The Lagoon Bahrain will be a landmark on the world map as an extraordinary dining-out waterside venue, similar to fantastic destinations such as Cockle Bay in Sydney and Puerto Banus in Southern Spain.'

Commenting on this news, ADIH's CEO, Rashad Janahi, said: 'This is an unprecedented response for a new project in Bahrain.

'Demand has been driven by the quality and location of the project as well as the short construction time. Investors are expecting an attractive rate of return of 20% based on completion in 16 months. Our goal is to complete the project as much as four months sooner than this.'

When up and running, the project is set to target the island's new community, and will attract visitors from Bahrain and throughout the GCC. The waterside dining destination is designed to draw families, couples and tourists to the area day and night.

'The project will provide premium, fully-owned commercial units for new concept food and beverage outlets and boutique retail, a first for the Gulf markets which have previously offered only rented commercial space,' added Al Khan.