Real estate
Bahrain is experiencing an economic boom, with several projects designed for the improvement of facilities and convenience of lifestyle. Bahrain is the fastest growing economy in the Arab world, the United Nations Economic and Social Commission for Western Asia found in January 2006. Bahrain also has the freest economy in the Middle East according to the 2006 Index of Economic Freedom published by the Heritage Foundation/ Wall Street Journal, and is twenty-fifth freest overall in the world. With its highly developed communication and transport facilities, Bahrain is home to numerous multinational firms with business in the Arabian Gulf. Below is a list of some of the major development projects in the kingdom, which have been recently initiated and are due for completion in the near future.
Dilmunia >
Bahrain Financial Harbour >
Riffa Views >
Durrat Al-Bahrain >
Amwaj Islands >
Al-Areen Development >
Bahrain Bay >
Bahrain World Trade Centre >
Reef Island >
Abraj Al-Lulu (Pearl Towers) >
Tala Island >
Bahrain Investment Wharf >
Mina al Salam - Bahrain >
Dilmunia
The Bank's second major project is primarily focused on health and medical care services. The US$1 billion Health Island will provide state-of-the-art health care facilities and services in a resort-type environment. The project will have numerous specialist hospitals, clinics and hotels, all created with unique engineering architecture.
Bahrain Financial Harbour
A master-planned integrated financial community on prime seafront property in Manama, with a diverse range of commercial, residential and leisure components, Bahrain Financial Harbour has been designed to address every single need of the financial services sector. It will have 30 individual development units, spreading over 380,000m² of reclaimed land, offering office, residential, retail, dining and leisure space.
• Cost: BD 565.4 million, US 1.5 billion
• Size (square metre): 380,000
• Location: Northern coastline
• Investor: Gulf Finance House (GFH)
• Type of Development: Commercial, residential and leisure
• Completion Date: 2009
• Tel: +973 17 576 000
• Email: info@bfharbour.com
• Website: http://www.bfharbour.com/
Riffa Views
The first of its kind in Bahrain, Riffa Views is an exceptional master-planned community. Featuring 900 top quality designed and built homes, woven around a new PGA championship golf course, it also offers a wealth of activities, from golf to walking and jogging trails.
The development laces three neighbourhood clusters together with extensive landscaping that combines arid desert scenes with emerald parklands and lagoons, while almost all of its homes enjoy open views of the golf fairways.
• Cost: BHD 113 million USD $ 300 million
• Size (square metre): 7 million
• Location: Riffa
• Investor: Arcapita, Bahrain International Golf Course Company (BIGCC)
• Type of Development: Residential, leisure
• Completion Date: 2008
• Tel: +973 17 757 999
• Email:
info@riffaviews.com
• Website:
http://www.riffaviews.com/
Durrat Al Bahrain
Durrat Al Bahrain is named after the most perfect pearl and sets out to be a model city resort of life as it should be in the 21st century. The character and design of Durrat Al Bahrain reflects the highest quality of design principles and will set a new standard for urban development in the Kingdom.
This 20 square kilometre seaside city resort, located on the south coast of Bahrain, will include 13 different islands with over 2,000 villas, more than 3,000 apartments, luxury hotels, restaurants, promenades, shopping centres, spas, a planned marina, and a proposed golf course among its many sports facilities.
• Cost: BHD 1.13 billion USD $3 billion
• Size (square metre): 20 million
• Location: Southern tip of the island
• Investor: Bahrain Government & Kuwait Finance House (KFH)
• Type of Development: Residential, commercial, leisure & tourist
• Completion Date: 2009
• Website: http://www.durratbahrain.com/
Amwaj Islands
Amwaj Islands is a wonderful new waterside development encompassing 30 million square feet of the Kingdom of Bahrain.
First conceived in 2001, and now nearing completion, Amwaj will be a modern, fully functional neighbourhood which already features a diverse range of high-rise apartments, lofts, studios and villas together with an island dedicated to learning and state-of-the-art communications and utilities.
• Cost: BHD 380 million USD 1 billion
• Size (square metre): 30 million
• Location: Muharraq
• Investor: Ossis Property Developers
• Type of Development: Commercial, residential, leisure, hotels & tourism
• Completion Date: Aug 2007
• Tel: +973 16 033 100
• Email: info@amwaj-islands.com
• Website: http://www.amwaj-islands.com/
Al Areen
The unique Al Areen development is adjacent to the Bahrain International Circuit and the Al Areen Wildlife Sanctuary. It offers an opportunity to experience the legacy of the country's rich and varied history, while maintaining the comfort and convenience of modern living.
The mission of the development project is to transform its distinctive desert location area into a diversified range of health, residential, hospitality and entertainment components. Major components of the development include: the Banyan Tree Desert Spa and Resort - the only all-villa private pool resort in the Arabian Gulf and one of the Middle East’s most luxurious hideaways; 'The Lost Paradise of Dilmun' Water Park; Hotel Al Areen; Al Waha Resort; Oryx Hills; Downtown Al Areen; Sarab Al Areen; and a number of residential villages, entertainment and recreational facilities.
• Cost: BHD 280 million US $ 750 million
• Size (square metre): 2 million
• Location: Sakhir
• Investor: Gulf Finance House (GFH)
• Type of Development: Commercial, residential, retail, recreation, health & medical
• Completion Date: 2008
• Tel: +973 17 838 666
• Email: info@alareenresort.com
• Website: http://www.alareenresort.com/
Bahrain Bay 
Bahrain Bay is a unique waterfront district that will serve as a new benchmark for Bahrain. A carefully conceived neighbourhood, Bahrain Bay will be home to the Kingdom’s only Four Seasons Hotel and Arcapita’s new corporate headquarters. With a passion and focus on creating a world-class, contemporary addition to the country, Bahrain Bay will raise the standards of residential, commercial and retail offerings to become an exciting new community on the waterfront.
• Cost: BHD 560 million US $ 1.5 billion
• Size (square metre): 1.1 million
• Location: North East coast of Manama
• Investor: Arcapita
• Type of Development: Residential, retail and commercial
• Completion Date: 2010
• Tel: +973 17 505 555
• Email: info@bahrainbay.com
• Website: http://www.bahrainbay.com/
Bahrain World Trade Centre
The Bahrain World Trade Centre is a symbol of achievement and a reflection of momentum behind the region’s fast growing economy.
Its innovative design combines the essential elements of lifestyle and business to create a powerful emblem of aspiration and accomplishment. The Bahrain World Trade Centre is more than its landmark commercial towers; it also offers amenities such as an exceptional shopping and dining environment, a five star hotel and sophisticated office accommodation.
• Cost: BHD 30 million US $ 9.6 million
• Size (square metre): 120,961
• Location: Northern coastline
• Type of Development: Retail, accommodation, office space
• Completion Date: - Q3 2007
• Tel: +973 17 540 330
• Email: info@bahrainwtc.com
• Website: http://www.bahrainwtc.com/
Reef IslandReef Island, at the heart of Manama, is one of the pioneering real estate development projects in Bahrain. This man made island is conceived and styled along a fusion of contemporary designs following traditional patterns.
Reef Island is being developed by the Lulu Tourism Company, which was established in March 2002 as a result of a joint venture between the Government of Bahrain and the Mouawad Group Inc. It includes 39 residential buildings with a total of 1217 apartments, a residential Icon Tower, 49 stylish chalets, and 67 luxurious individual villas all overlooking private lagoons. It will also have its own private Marina & Yacht Club, Spa Village, an aquarium, a medical centre, shopping mall and a multi-function exhibition centre, as well as a five star 300-room hotel with 42 serviced apartments, restaurants, gym and shopping arcades.
• Cost: BHD 280 million USD $740 million
• Size (square metre): 563,000
• Location: City centre
• Investor: Bahrain Government & Mouawad Group Inc
• Type of Development: Leisure, business
• Completion Date: 1st phase - early 2009; 2nd phase - end 2010
• Tel: +973 17 562 814
• Email: inquiries@reefisland.com
• Website: http://www.reef-island.com/
Abraj Al-Lulu
Located in the Seef District of Manama, Abraj Al Lulu (Lulu Towers) is a freehold apartment development. It has two 50-storey towers and one 40-storey tower packed with all the amenities you could possibly want and close to every-thing you need.
Between them the three towers house over 860 one, two, three and four-bedroom apartments, 12 Villas in the Sky and a full complement of sports and recreational facilities. Outdoor facilities range from exclusive tennis and basketball courts to an open air pool, terraces, landscaped play area, rock garden and waterfalls as well as health and fitness centres and a generous allocation of space for parking.
• Cost: BD100 million
• Size (square metre): 186,000
• Location: Manama
• Investor: Pearl Development and Real Estate Company (PDREC)
• Type of Development: Residential, leisure
• Completion Date: 2008
• Tel: +973 17 587 575
• Email: info@abrajallulu.com
• Website: http://www.abrajallulu.com/
Tala IslandLocated at the heart of Amwaj Islands, on the North Eastern coast of the Muharraq Island, Bahrain, Tala Island will offer close access to all other aspects of the total development inclusive of marina, hotels and theme islands.
Shaped in an elongated curve, Tala Island will stretch over an area of 110,000 sq meters (400,000 sq m landscaping) and will be strategically located and conveniently accessible to all areas of Bahrain via a newly constructed three lane highway.
Though out this splendid development, buyers will enjoy spectacular sea views, a choice of 1, 2, 3 or 4 bedroom apartments as well as 4 bedroom penthouses, 5 bedroom villas and 4 bedroom townhouses built to the highest specifications. Surrounded by landscaped gardens these spacious units will have exquisitely finished details offering unparalleled living in an ideal environment. Most developments use retaining walls to the water level, whereas Tala has been specifically designed to include a long sweep of beach fronting to a safe, sheltered lagoon.
Tala Island is only 10 minutes from Bahrain’s International Airport: 22 minutes from manama city centre and 45 minutes from the King Fahad Causeway to Saudi Arabia.
• Website: http://www.tala-amwaj.com/
Bahrain Investment WharfIn January 2006, Tameer set about establishing Bahrain Investment Wharf (BIW), putting the Kingdom of Bahrain on the map as a destination for investors and their business needs. It will have dedicated zones, including an industrial park (logistics and warehousing), an accommodation park, a business park, plus areas for associated services.
BIW is set to help create job opportunities within Bahrain and inject immense capital into the local economy, while attracting foreign investment, and enhancing Bahrain's reputation on the world stage. BIW also aims to create opportunities in supporting services and industries such as finance, tourism, construction, trade, health and education.
• Size (square metre): 1.7 million
• Location: Hidd
• Investor: Tameer
• Type of Development: Industrial, residential, business
• Tel: +973 17 468 500
• Email: info@bahiw.com
• Website: http://www.bahiw.com/
Mina SalamPhase 1 of $600 million Mina Salam project Bahrain will be ready by end of 2009. it will have shopping malls, hotels, business, leisure and housing facilities, - a complete community concept.