Bahrain is currently witnessing one of its best periods in regards properties sales exceeding 5 billion dollars a year which urged Bahrain government to enact laws and settle stalled real estate projects, said Hussein Ibrahim Kamal, head of Real Estate Commission in Bahrain Chamber of Industry and Commerce during his press statement with Al Arabi newspaper.
Hussein assured real estate investors who entered or considering entering Bahrain market saying that the government’s orientation is towards varying income inputs instead of relying on hydrocarbon industry. That’s why Bahrain properties are bit immune from oil prices plunge.
Related post: Best 7 Real Estate Companies in Bahrain Kingdom
In another respect, Hussein mentioned that real estate developers tend to invest and display more various real estate products to keep pace with the overwhelming demand from local, regional or foreign investors.
Get to know the exotic project of Dilmunia in Bahrain
Dilmunia Island is located in front of Muharraq, particularly against Qalali area North East Bahrain. Work started on Dilmunia Island in 2007 by Ithmar Real Estate Development Company, a subsidiary of Ithmar Bank of Bahrain. The project total cost is estimated to be 1.6 billion dollars.
The project sprawls on 153 acres. It includes a residential area of 4500 housing units, in addition to hotels area covering 9% of the project’s area, and a commercial area with shopping centers and amenities representing 10% of the space.
The project includes also an ear marked area for health care centers constituting 17% of Dilmunia Island’s area.
Dilmunia is a health residential project in principal. It aims providing a convenient environment meeting all human needs of residence, relaxation and high-level health care services in order to convert Bahrain to a regional traction point for medical tourism.
The project is only miles away from Bahrain International point which adds to its exotic advantages.
The project execution will take place on 4 phases, each phase takes three years, while it’s worth noting that units’ delivery will start during the incumbent year.
Dilmunia apartments and Durrat Al Bahrain apartments for instance are poised for attracting high-end customers with high income rates who look for luxurious and elegant apartments in the first place.
However, there are other units in Hoora and Juffair areas suitable for middle income level customers looking for practicality.
Despite Bahrain’s comparatively small size, 750 square kilometers, it teems with various real estate solutions satisfying different market sectors. Still construction is picking up pace for adding more.
You will find a diverse bundle of elegant residential units either villas or apartments in Bahrain Dilmunia besides recreational and medical services as the island witnesses a number of development projects like “Sevilla Villas” executed by Mohammed Galal & Sons Company. The project comprises from 32 villas with special sea view for each.
Villas’ spaces vary between 600- 650, the whole project’s units have been already sold after only 3 days of launching sales which reflects high turnout on Dilmunia.
The island has also “The Treasure” project developed by Bin Faqeh Real Estate Development. It comprises from a twin tower including 232 apartments with a total cost of 18 million BHD. The units’ spaces start from 89 square meters while prices start from 39 thousand BHD. The project is expected to deliver the first units by next year.