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US $10 billion landmark projects go on show at Cityscape Global

Strong population growth, higher disposable income and increasing demand across the GCC – especially Saudi Arabia – are creating a real success story in Bahrain’s real estate sector. Bahrain itself is making things more attractive for real estate and construction companies by providing ready access to finance.
 
As a result, not only did the construction business in Bahrain grow by around 7% in 2014; real estate transactions have increased by 80% year on year. Indeed, with Bahrain’s assistance, many local and international investors are commissioning and investing in large-scale projects, both commercial and residential.
This was the background to Bahrain’s presence at Cityscape Global 2015, which took place at the Dubai World Trade Centre, from the 6th to the 8th of September. The Middle East’s largest real estate exhibition, Cityscape Global brings together investors, developers, architects, designers and senior executives from all over the world.
 
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 Bahrain’s pavilion at Cityscape Global, showcasing project models
 
With the backing of the Bahrain Economic Development Board (EDB), six developers displayed their projects at the impressive Bahrain Pavilion. The following project descriptions demonstrate how real estate is fast making Bahrain an even more vibrant and desirable place to live and work – and for international companies to invest.
 
Bahrain Bay is a US $2.5 billion waterfront district in the heart of Manama – with lively neighbourhoods of residential, commercial and retail spaces. Over 85% of reclamation is complete. ‘Water Bay’, the first residential complex with three ten-storey buildings containing 600 luxury apartments and a retail floor, is due for completion in 2017.
 
Diyar Al Muharraq comprises seven islands, including 12 km2 of reclaimed land surrounded by 40 km of waterfront and beaches. Worth US $3.18 billion, it’s designed to offer a high-quality lifestyle within a complete integrated modern city. Diyar Al Muharraq will feature commercial and residential property supported by advanced facilities and infrastructure.
 
Water Garden City developed by Albilad Real Estate Investment Co. WL, is a mixed-use project along Manama’s northern coastline. Described as a ‘city centre retreat’, it features everything from a marina, beach and gardens to waterfront fine-dining restaurants, luxury duplexes, apartments, hotels and offices.
 
Durrat Al Bahrain jointly developed by the Bahrain government and Kuwait Finance House (Bahrain), is a US $6 billion project covering 15 islands on Bahrain’s southern coast. It is due to feature 1,500 beachfront villas, 3,600 executive apartments and offices, hotels, spa resorts, mosques, international schools, retail malls, and much more.
 
Investment Gateway – Bahrain, developed by Manara Developments Company, is a major industrial zone worth US $200 million. Strategically placed between Bahrain International Airport, Salman Industrial Area and the expressway to Mina Salman, the 600,000 m2 development has sold 90% of its first-phase plots.
 
Bahrain World Trade Center already dominates Manama’s business and financial district. Built in 2008 and designed by Atkins, it consists of two 44-storey sail-shaped office towers, a five-star hotel, and luxury mall with over 150 shops, cafés and fine-dining restaurants. BWTC is also the world’s first skyscraper to incorporate wind turbines to improve energy use.

Commenting on Cityscape Global, Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board (EDB), said: “We are very pleased to be participating at this year’s Cityscape Global event in Dubai. The Kingdom will be showcasing a number of leading developments worth around US $10 billion to the international investors who will be part of this event.
 
“Recent developments in Bahrain’s real estate sector indicate that the sector is picking up, and that the construction sector grew by around seven per cent in 2014. Furthermore, we are pleased to see the rapid growth in the tourism sector; the hotels and restaurants sector achieved growth of almost ten per cent in 2014, and visitor numbers into the Kingdom reached over 10 million for the year.”
 
How to learn more
 
If you would like to discuss investment in any of these projects, you can talk to the developers directly or contact the Bahrain EDB.