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The project was announced at a special event that was attended by Mr. Ebrahim Hussain the Chairman of Central Area Municipal Council and senior members of the Central Area Municipal Council, Mr. Mohammed Dadabhai the Chairman of Dadabhai Group, other lead investors including Sheikh Abdul Wahab Al Babtain, Mr. Ebrahim Al Ameer and Mr. Akram Miknas and senior management from Dadabhai Group, amongst others.
Commenting on the development Mr. Shabeer Dadabhai, Managing Director, Dadabhai Construction, said,
"The last few years have seen the Bahraini economy progress at a rapid growth rate, as a result of the foresight and proactive policies of the government. The boom has not just been in the financial sector but also in the tourism, real estate and service sectors. The real GDP increased by 5.9% to BD 3.4 billion, in 2005 and is expected to grow at an average 5 per cent to 6 per cent in the coming years. Furthermore, with the opening up of the friendship causeway, in addition to, the exiting causeway to Saudi Arabia, the demand for residential developments is only bound to move significantly northwards. Our latest offering at Tubli is borne of this rising need.'
"I would also like to take this opportunity to extend our gratitude to the government of Bahrain, especially the Central Area Municipal Council for their support to this project," Mr. Dadabhai added.
Spread over 140,000 square feet this forward looking housing and development project will be marketed by Pegasus Realty. Furthermore, Habib Modara Consultants will be the lead consultants for the project.
Elaborating on the project specifics Mr. Pranay Thacker, Director, Dadabhai Construction, said, "Conceptualized and designed by Dadabhai Construction in coordination with internationally renowned architects, the development will include six blocks each consisting of a similar number of floors and will include 216 studio, one, two and three bedroom apartments. Central to the design of the project has been our focus on the three most critical components that a tenant looks for namely; functionality, convenience and comfort."
Additionally, key facilities and amenities that would form a part of this residential development would include a health club, three swimming pools, a business centre, restaurants and a sea facing landscaped terrace with a coffee shop. The project is estimated to be completed in 20 months post receipt of all approvals.
Posted by Janeta Novakovic, Assistant News Editor
