Adnoc Review 2017

Bin Faqeeh’s Treasure at Dilmunia

Bin Faqeeh’s Treasure at Dilmunia

Bin Faqeeh delivers $270m worth of projects in Q1 2017

The firm announced that it has completed 30 per cent of the construction works in the "Water Bay" project, which is a three residential towers project built in Bahrain Bay and consists of 196 apartments each, a total of 588 apartments

Bin Faqeeh, a leading Bahrain-based privately-owned real estate investment company, announced that it will start delivering $ 270 million worth of real estate development projects to the owners during the first quarter of 2017. This will contribute in providing a strong momentum to the Bahraini local real estate market at the beginning of the New Year.

The list of real estate development projects that will be delivered includes: The Grand, Plus, The Nest, Dar Tower, Forbes Tower, The Treasure, 360° and The Tweet.

On this occasion, Faisal Faqeeh, chairman of Bin Faqeeh commented: "It’s our pleasure to announce to the owners and investors that a number of our outstanding projects are set to be handed over in the first quarter of 2017, after completion of all luxury finishes, facilities and final touches."

"With the completion of these eight real estate development projects, the total number of delivered projects will reach 30 projects, which constitute 80 per cent of total projects in the pipeline. We are very proud of these consecutive milestones, which contribute significantly to the development of the real estate sector in Bahrain" he added.

"We are confident that the owners will be very happy to get their luxurious residential apartments, which have been designed and built according to world class standards. We have been very keen to integrate these projects with comprehensive facilities in order to turn them into a perfect living destination for families where they can spend quality time.

"Delivering these projects in the first quarter of 2017 will play a vital role in giving the real estate market in Bahrain a powerful drive. It will positively impact investors’ confidence as well as boost real estate trading activity.

"The real estate sector in Bahrain is promising and has potential despite the volatility in global oil markets. It is one of the most developed and stable markets in the region in terms of its ability to grow, expand and yield investment returns.

"We are pleased to take this opportunity to extend our sincere thanks and gratitude to the wise leadership of the Kingdom of Bahrain for their continued support and encouragement for the private sector to play an active role in the economy, which has contributed into realising these achievements and transform our visions into reality.

"We also would like to thank our shareholders and investors for their support and trust, without which we wouldn’t have been able to make these achievements or continue launching more innovative projects. Moreover, we reemphasize our commitment to continue our hard work and efforts to complete construction works in the remaining real estate projects."

In this regard, Bin Faqeeh announced that it has completed 30 per cent of the construction works in the "Water Bay" project, which is a three residential towers project built in Bahrain Bay and consists of 196 apartments each, a total of 588 apartments. The same applies to "Hidd Heights", which is a 13 floors residential tower built next to Prince Khalifa bin Salman Park and includes apartments of different sizes.

In addition to that, the construction work in ‘Alsidra’ project will start in the end of the first quarter of 2017. This project is an impressive luxury villa community with an astonishing 465 villas of varying designs and capacities located at Diyar Al Muharraq. Also, work is already in progress at the ‘Layan’ Project.

"We are very proud to be Bahrain’s leading real estate developer, aiming to positively influence the kingdom’s real estate sector through introducing distinctive development projects with attractive and lucrative returns. Bin Faqeeh also seeks to support Bahrain’s economy by attracting foreign capital through the creation of unique investment opportunities while maintaining a high level of quality and luxury. In addition, we have played other roles to promote our economy by sponsoring key economic events such as the Bahrain International Property Exhibition (BIPEX), Cityscape India, Gulf Property Show, Jewellery Arabia and others.

"Bin Faqeeh is implementing its "Limited 5" plan, which entails the launch of an exclusive limited edition luxury project each year for five years. These properties will reward its tenants with luxurious lifestyle experiences unlike any in the entire GCC.

"As part of its belief in the importance of supporting the real estate market in Bahrain, Bin Faqeeh aims to provide housing solutions that suit different tastes and different segments in the society. The company also intends to expand its operations to the rest of the Gulf countries in the near future." Faqeeh concluded.

Bin Faqeeh was honoured with the Best Residential Development in Bahrain for its marvellous landmark project ‘Layan’ while also being bestowed with the distinctive award of Best Development Marketing for the same property. The real estate company also jointly received awards within the Mixed Use Architecture category for the innovative properties ‘Waterbay’ and ‘Layan’, alongside Arab Architects, complimenting Bahrain’s commitment to revolutionize the real estate industry regionally and globally.

In less than a decade, Bin Faqeeh has successfully established itself as leaders in the market. The company aims to be the benchmark for generating innovative investment opportunities, merging global best practice and regional investment acumen to deliver profitable and value adding ventures to shareholders, clients, business partners, employees, and the communities it serves.

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