BAHRAIN BAY AT CITYSCAPE GLOBAL 2016 IN DUBAI

 

BAHRAIN BAY AT CITYSCAPE GLOBAL 2016 IN DUBAI

Bahrain Bay was among the key real estate developments to be showcased at the Cityscape Global 2016 in Dubai as part of the Kingdom of Bahrain Pavilion, hosted by the Economic Development Board (EDB).

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 $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."

During the event Bahrain Bay, the $2.5 billion waterfront district located in the heart of Manama, will announce a new investor. Bin Faqeeh Real Estate Investment Company has purchased three land parcels for its new residential complex project titled ‘Water Bay’, which will be the first residential complex in Bahrain Bay.

Water Bay will feature three distinct 10-storey residences with around 600 luxury apartments and a retail floor. The construction will start later in 2015 and the project is scheduled for completion in 2017. The delegation from Bahrain Bay will also be highlighting specific investment opportunities with an emphasis on the South Marina Waterfront District, a waterfront precinct designed around vibrant neighbourhoods of residential, apart-hotel and retail spaces.

Bahrain Bay Development CEO, Gagan Suri welcomed Bin Faqeeh Real Estate Investment adding, "We are delighted to welcome Bin Faqeeh, one of the Kingdom’s leading real estate developers, amongst our investors in Bahrain Bay. This latest announcement strengthens Bahrain Bay’s position as an iconic landmark that will add value to the legacy, the community and the future generation of Bahrain."

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