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Press Releases

DURRAT AL BAHRAIN CREATES RESORT MANAGEMENT COMPANY


Olive VFM Appointed as Strategic Advisor

Durrat Al Bahrain, the Kingdom’s largest planned luxury mixed-use residential, commercial and resort development, today announced news of the creation of a new company to manage the on-going property and facilities management needs of Durrat Al Bahrain.

The new company, Durrat Resort Management, is tasked with creating the policies, systems and procedures that will manage the municipal requirements of the $4 billion Durrat Al Bahrain project during the closing stages of development and following completion. Olive VFM, the Facilities Management services consultant, has been appointed by Durrat Al Bahrain to advise upon the establishment of Durrat Resort Management. Over the period leading up to the completion of the project Olive VFM will be providing support services to DKAB and DRM.

As Durrat Al Bahrain comes closer to completion, it will require the management services of a small city. Durrat Resort Management, through the advice and expertise of Olive VFM, will implement the policies, operational systems and procedures to ensure that Durrat Al Bahrain benefits from a full range of integrated services to maintain a clean and safe environment for residents and visitors. Through its advisory capacity, Olive VFM’s objective is to ensure that, from its first day, Durrat Al Bahrain is a vibrant growing community for years to come and that the promise of a high quality of urban lifestyle surrounded by the crystal clear waters of the southern Bahrain shoreline is fulfilled.

Durrat Resort Management will establish new by-laws that will deal with the stewardship and maintenance of assets such as roads, public areas and communal services. It will also establish and implement the required services including the management of the procurement process which will decide where services are secured from. In addition, it will advise upon security systems and procedures, as well as which categories of specialist staff Durrat Al Bahrain needs to contract.

Jassim Al Jowder, CEO of Durrat Al Bahrain, said, “Durrat Al Bahrain is a new island-based city that will offer high levels of quality to its residents and visitors alike. To ensure we are in a position to fulfil our promise to investors, residents and visitors, we have engaged with Olive-VFM to help us deliver our vision. Facilities management is crucial in supporting our dream and ensuring that the product meets our customers’ expectations, so we are delighted to be working with these world leading specialists.”

Julian Butson, Resort Manager for Olive-VFM, said, “’We see our role as a critical component in urban development, assisting design and management teams to free their potential to develop their communities to work to benefit the owners, the developer and residents. In many of our projects across the Gulf, we see a change in traditional facilities and property management delivery as developers start to build small cities, large integrated communities and complex commercial developments. These developments require sophisticated, integrated operational strategies, as well as services and systems that will allow them to both manage and service their responsibilities to their customers and clients within a growing complex environment. Durrat Al Bahrain has recognised the requirement of the early involvement of a facilities management consultancy service and is therefore foremost in the region in recognising the support that a service of this type provides. Our aim is to align our Clients expectations with the community service and policy delivery.”



DURRAT AL BAHRAIN TO PARTICIPATE IN TOP PROPERTY EXHIBITION IN KUWAIT


Durrat Al Bahrain, the Kingdom’s largest planned luxury mixed-use residential, commercial and resort development is to participate in the exhibition, KUPEX (Kuwait Property Exhibition) 2007, which starts from today to the 1st of November at the Sheraton Hotel in Kuwait City.

The three day exhibition is an international event focused on residential property sales and investment and offers potential investors, owners and developers the opportunity to see a wide range of property development and investment opportunities in Kuwait and across the GCC.

Mr. Jassim Al Jowder, CEO of Durrat Al Bahrain, said, “Kuwait is an important market for Durrat Al Bahrain. This is the second time we have exhibited in Kuwait this year, having last visited in February. Not only is one of our key investors Kuwaiti based, but also many of our residential investors are based in Kuwait, and we will be using the opportunity of exhibiting to provide a full update to our investors on the project’s significant progress since February.”



HH SHEIKH MOHAMMED BIN RASHI AL MAKTOUM VISITS DURRAT AL BAHRAIN’S EXHIBITION AT CITYSCAPE DUBAI


HH Sheikh Mohammed bin Rashid Al Maktoum, The UAE Vice President, Prime Minister and Ruler of Dubai, visited Durrat Al Bahrain's exhibition stand at last week's Cityscape Dubai 2007, the region's largest property exhibition. Jassim Al Jowder, Durrat Al Bahrain's CEO (second from left), shows Sheikh Al Maktoum the significant progress the $4 billion island based development has made.



MAJOR PROGRESS AT DURRAT AL BAHRAIN


Durrat Al Bahrain, Bahrain’s largest planned luxury mixed-use residential, commercial and resort development, today announced major progress across key elements of the $4 billion project, including its golf precinct, the Ernie Els designed 18 hole championship course community; its 400 berth marina as well as the Crescent, the mixed-use commercial district of Durrat Al Bahrain. With progress well under way on the residential villas located across eleven of Durrat Al Bahrain’s islands, focus is now moving to these significant elements of the development.

Golf Course
The preliminary master plan for the golf course has now been completed, which envisions an Ernie Els designed 18 hole golf course, a club house and 1400 beautifully designed villas and apartments set against the green of the course and the azure blue of the surrounding sea and landscaped lakes and canal. US consultants EDSA have been brought in to proceed with a detailed master plan and to advise upon the urban design vision of the golf community, with the aim of creating clusters of residential housing which will offer different types of lifestyle options. These clusters will then be marketed to developers with completion scheduled from the end of 2009. Durrat Al Bahrain’s golf course community will also see a 200 room 6 star hotel situated in 3.6 hectares, as well as a club house with a health facility that will offer sports halls, gyms, well-being facilities and retail outlets that will be available for the whole of the Durrat Al Bahrain community. The combination of an Ernie Els designed golf course and the beautiful environment of the course and its surrounding villas, apartments and hotel will make Durrat Al Bahrain one of the region’s leading golf destinations.

Commercial District
Development Controller Plans which define the heights, facades and appearance of buildings will be completed by the end of the month, marking a significant step in the development of the urban planning of the Crescent, the mixed-use commercial centre of Durrat Al Bahrain. The Crescent will see a combination of commercial, retail and residential property, planned around waterfronts, open spaces and lakes where between 30,000 and 35,000 will live and work. Buildings will be limited to 50 stories other than a number of specific iconic towers, which will signify the beauty and modernity of Durrat Al Bahrain through their architecture and grandure. The Crescent’s retail mall, situated by the central lake and promenades is planned to be approximately 80,000m2 in area.

Marina
Arranged over three islands, Durrat Al Bahrain’s 700,000m2 marina has also seen significant progress in its development. With the conceptual master plan approved, work is now underway to create the detailed master plan, due for delivery in the first half of 2008. Durrat Al Bahrain’s marina will offer berths for 400 berths, its own yacht club and will be a mainly residential area of the community, offering 85% residential housing and 15% commercial property. Linked to the mainland by a bridge from the golf course community, the marina will offer residents modern waterfront residences, looking out onto the southern Bahrain sea.

Jassim Al-Jowder, Durrat Al Bahrain’s CEO, said, “With both phases of the residential villas well underway, we are now bringing additional focus to the other important elements of Durrat Al Bahrain: our commercial district, our golf community and our marina. These areas of the development offer significant potential for developers and investors as we create a new island based community, which is already successfully attracting residential investors from the region and internationally.”



DURRAT AL BAHRAIN TO EXHIBIT AT CITYSCAPE 2007


Durrat Al Bahrain, the Kingdom’s largest planned luxury mixed-use residential, commercial and resort development, today announced its intention to exhibit at the annual property exhibition, Cityscape 2007.

Taking place at the Dubai International Exhibition Center from 16-18 October, the exhibition is the world’s largest business-to-business real estate convention with 70,000m2 of exhibition space available this year. More than 45,000 attendees are expected this year, with regional and international investors, property developers, government and development authorities, architects and designers from more than 120 countries due to participate.

Durrat Al Bahrain will be using the opportunity of the exhibition to market the various elements of its vision, to create a world-class residential, commercial and tourist destination, offering a unique island based urban lifestyle. Upon completion of all elements of the project and at full occupation, it is expected that there will be more than 60,000 permanent residents as well as some 4,500 visitors a day.

Visitors to Durrat Al Bahrain’s exhibition stand will be able to see the progress that has been made across the 11 islands of residential villas, discuss the investment opportunities associated with the residential islands, as well as learning about the investment and development opportunities available within the commercial centre of the city. Visitors will also hear about the latest developments at the Ernie Els designed 18 hole golf course, which will see not only a beautiful and challenging course set against the waterways and canals of Durrat Al Bahrain, but also 1400 stylishly designed luxury residential villas and apartments arranged around the landscaped course.

The latest developments from the joint venture between Durrat Al Bahrain and Tameer to create one of the region’s leading marinas, offering 400 berths across an area of 700,000m2 will also be unveiled. The marina will set the scene for a canal environment, complete with waterfront town houses, apartments, numerous cafes and shopping outlets lining its winding paths and waterways. Durrat Al Bahrain will also be updating visitors on its agreement with Beacon Education, the UAE’s leading education services provider, which will manage two schools of 1200 pupils each within Durrat Al Bahrain, offering UK curriculum studies and the International Baccalaureate.

Jassim Al Jowder, CEO of Durrat Al Bahrain, said, “Cityscape is one of our most important exhibitions. It’s location in Dubai and its ability to attract more than 45,000 property professionals from across the region and the world gives Durrat Al Bahrain an excellent opportunity to market its vision to investors and developers. We have excellent opportunities for potential partners across the project: residential villas, commercial property land and development, as well as additional opportunities associated with the Ernie Els designed championship golf course and the marina.”



TOTAL CONTRACT VALUE FOR PHASES ONE AND TWO VILLA CONSTRUCTION AND INFRASTRUCTURE AT DURRAT AL BAHRAIN REACHES US$500 MILLION


- Phase Two Villa Construction Launched -

MANAMA -8 August 2006 - Durrat Al Bahrain, the Kingdom’s largest planned luxury residential, commercial and resort development, today announced the awarding of an approximately US$130 million (BD49 million) contract to Bahrain-based G.P.ZACHARIADES LTD for the construction of 318 villas on Atoll Islands 3 and 4, marking the start of phase two of the construction of luxury villas at the landmark project.

Work is scheduled to commence in October 2006 with delivery to homeowners expected in the first half of 2008. With this award, the total value of contracts for both phases one and two villa construction and infrastructure at Durrat Al Bahrain has reached more than US$500 million to date.

Commenting on the announcement, Mr. Abdulhakeem Alkhayyat, Chairman of Durrat Al Bahrain, said, “We are pleased to announce the launch of the next stage of villa construction. With the awarding of this contract, we reach yet another key milestone and come one step closer to fulfilling our promise to eager homeowners that are ready to start the unique resort lifestyle being offered at Durrat Al Bahrain.

“Furthermore, we are delighted to be working in large proportion with world-class Bahraini companies in the establishment of this dream project. To date, 10 tenders have been awarded to local firms. We are both gratified by the strength and competitiveness of Bahraini companies as well as overall positive contribution being made to the economy by the project to date.”

As part of phase one villa construction, work is well underway on 83 villas located on the Petal 1 Island, where the foundations for the homes have already been laid. In addition, construction is scheduled to commence this month on 158 villas located on Atoll 1 and 160 villas on the Atoll 2 Island. All villas included in phase one sales and construction are to be handed over to homeowners from late 2007.

Commenting on the award, Mr. Jassim Al Jawder, CEO of Durrat Al Bahrain, said “We are pleased with the progress being made to date. We are on track in all areas of the project and will be continuing to announce a number of additional contracts in the months ahead for key elements of villa and infrastructure development.”

Durrat Al Bahrain has been planned as a world-class residential, tourist destination, offering a lifestyle experience unrivalled in the Middle East. Upon completion from 2010, it is expected that there will be more than 60,000 permanent residents as well as some 4,500 visitors a day.



DURRAT AL BAHRAIN LANDMARK DEVELOPMENT TAKES SHAPE


The latest aerial photographs of Durrat Al Bahrain, the Kingdom’s largest planned residential, leisure and tourist resort, reveal the strong progress made on the US$3 billion project as the 12 Islands of the development near completion months ahead of the mid 2007 schedule.

“We are delighted with the strong pace of progress at Durrat Al Bahrain as reflected in the most recent satellite images. The Atoll and Petal islands form the foundation of Durrat Al Bahrain’s master plan and their near completion is a critical milestone. The dream is becoming a reality”, said Mr. Jassim Al Jawder, CEO of Durrat Al Bahrain.

He continued, “In addition to the rapid advancement made on land reclamation, we are also making great strides in the development of all key aspects of Durrat Al Bahrain’s infrastructure. This includes the first phases of villa construction on the Petal 1 and Atoll 1 Islands, with handover of these villas to home owners scheduled from late 2007.”

Durrat Al Bahrain’s bridge network is also well underway with four of the bridge superstructures erected. Water and sewage system work continues, and once complete will offer residence and visitors world-class facilities and a lifestyle experience unrivalled in the Middle East.

To facilitate access for all prospective residents, innovative ownership and financing schemes have been put in place. A freehold ownership law has opened investment opportunities for expatriates. Financing schemes are also in place to assist mid- income earners to own the home of their dreams in Durrat Al Bahrain.

Durrat Al Bahrain is comprised of a cluster of islands and land areas that together give the development its unique island lifestyle theme. In addition to the Atoll and Petal Islands, the development is comprised of the Crescent, a semi-circular landmass extending into the sea that will serve as the project’s commercial heart, and includes a state-of-the art marina, 18-hole golf course, Grand Mosque, school and health care facilities. At the centre of the development, a stand-alone island will house a five-star family hotel and resort with water park.



DURRAT AWARDS CONTRACTS FOR NEXT STAGE OF VILLA CONSTRUCTION


Durrat Al Bahrain, the Kingdom’s largest planned luxury mixed-use residential, commercial and resort development - today announced the award of a further two contracts for the next stage of construction of the project’s luxury villas.

Construction of a total of 158 Villas on Atoll 1 Island is scheduled to commence in August after Bahrain-based Bokhawa company won the award of both contracts with a total value of approximately US$60 million. Delivery of these villas to the homeowners is expected from late 2007.

“We are pleased to start the next stage of development of our luxury villas with the awarding of these construction contracts,” said Mr. Jassim Al Jowder, Chief Executive Officer of Durrat Al Bahrain.

The Atoll 1 villas are part of Phase I of the development work at Durrat, which also includes the construction of 83 villas on the Petal 1 island. The construction of these villas is well underway with the foundations already laid.

Durrat Al Bahrain has been planned as a world-class residential, tourist destination, offering a lifestyle experience unrivalled in the Middle East. Upon completion in 2009, it is expected that there will be more than 60,000 full time residents as well as some 4,500 visitors a day.



Durrat Al Bahrain hosts 20 Engineering students at Landmark site


Durrat Al Bahrain today announced that it had hosted 20 engineering students, from the university of Bahrain at their resort establishment, the Kingdom’s largest planned residential, leisure and tourism resort.

The Durrat project site serves as an exceptional case study for the students, aiming to gain a better understanding of the pioneering infrastructure, land reclamation and dreading work at the development, which is well ahead of schedule.

Durrat Al Bahrain’s sales team were present to brief the students on the US$3 billion development project. The engineering students were also taken on a site tour of the island development and were briefed on the significant portion of dredging and land reclamation work required for this island themed development.

Once completed, the development will comprise of a cluster of islands. These include The Crescent, a semi-circular landmass extending into the sea, in addition to 6 Atoll Islands, 5 Petal Islands, a stand alone island set to house a 5-star family hotel and resort, a state-of-the art marina and an 18-hole golf course.

The Durrat sales team also gave the students an insight into the infrastructure development currently underway including the piling work for the project’s 13 bridges, which will connect the various islands together and to the mainland, as well as water and sewerage facilities. Work is also in progress on a highway linking Durrat Al Bahrain to Manama, with completion expected by September of this year.

Mr.Jassim Al Jowder, CEO of Durrat Al Bahrain said, “We are delighted to receive the host of students at our Durrat Al Bahrain development. We hope the tour has helped the students gain a better understanding of the dredging and land reclamation process. The work currently taking place at the development, displays the immense skill and technical expertise required to complete such a project and we are confident that the students have gained valuable exposure on our landmark site.”



BD7 MILLION CONTRACT AWARDED FOR CONSTRUCTION OF DURRAT AL BAHRAIN VILLAS


Durrat Al Bahrain is pleased to announce the award of a BD6.998 million (US$18.5 million) contract for the construction of 83 villas on one island of the residential, leisure and tourist resort, the Kingdom’s largest planned mixed-use development.

The contract, awarded to Bahrain-based Projects Construction Company, is the first of many contracts to be announced for the development of residential villas in the US$3 billion development, where dredging and reclamation work is in its final stages.

With the award of the contract for villas on Petal 1 Island, work will begin within days and the villas will take 12 months to build.

The Durrat Al Bahrain project comprises a cluster of islands and land areas that together give the development its unique island lifestyle theme. These include: The Crescent, a semi-circular landmass extending into the sea, 6 Atoll Islands, 5 Petal Islands, a stand alone island set to house a 5-star family hotel and resort, a state-of-the-art marina and an 18-hole golf course, all of which is being developed in phases.

“We are delighted to award the first contract for the construction of luxury villas on Petal 1 island,” said Mr. Jassim Al Jowder, Chief Executive Officer of Durrat Al Bahrain.

The Petal 1 villas are part of Phase I of the development work, which also includes construction of over 300 villas on Atolls 1 and 2, for which contracts will be awarded within the next three months. All of the Phase I villas, which were sold out by February 2005, will be ready for delivery to the owners from late 2007.

“There has been remarkable progress made on this landmark project and everything, from reclamation to infrastructure work, is on or ahead of schedule,” said Mr. Al Jowder.

A contract for Phase I infrastructure work, which will include power and water facilities and the building of roads, is expected to awarded within the next few weeks.

Durrat Al Bahrain has been planned as a world-class residential, leisure and commercial and tourist destination, offering a lifestyle experience unrivalled in the Middle East. It is expected to accommodate more than 60,000 full time residents in addition to some 4,000 visitors a day, upon completion from late 2010.

The Crescent, which will be the heart of the resort city, will boast 6,000 apartments, a large-scale modern shopping mall, restaurants and cafes, a piazza, public beaches and a host of community facilities, including a mosque, health centres and schools.

The Atoll and Petal Islands will provide quiet residential living, with a total of 2,000 luxury villas of different sizes, private and common beach areas, boat mooring options and breathtaking sea views.

The 400-boat, full service Marina will offer a canal-type lifestyle, with waterfront townhouses and apartments, cafes and shopping. The adjoining 18-hole championship golf course will also house a 300-room hotel and over 250 villas facing the golf course or the sea.

The Island Hotel is envisioned as a 400-room signature hotel, with private beach and an aqua park.

To facilitate access for all prospective residents, innovative ownership and financing schemes have been put in place. A freehold ownership law has opened opportunities for investment by expatriates and well-thought out financing structures, both Islamically compliant and conventional, are also in place to assist mid-level income earners to own the home of their dreams in Durrat Al Bahrain.



NASS CORP ACHIEVES MAJOR SAFETY MILESTONE ON DURRAT AL BAHRAIN PROJECT


MANAMA - 22 FEBRUARY 2006 - NASS Corporation is celebrating a major safety milestone, achieved at the landmark Durrat Al Bahrain project.

Great Lakes Nass Joint Venture, a joint venture between Nass Corp. and (US/UK based) Great Lakes Dredge and Dock Company, has achieved one million man hours without any loss time injury (LTI). The milestone has been reached after a one year of uninterrupted work at the site.

Great Lakes Nass Joint Venture are undertaking dredging etc, reclamation and shore protection works at the US$3 billion Durrat Al Bahrain site, located on the south eastern coast of Bahrain.

Senior management from Nass Corporation and Great Lakes Dredge and Dock Company attended a celebratory event at the Durrat Al Bahrain site. They congratulated the site team and workers for their dedication, hard work and commitment in achieving a safe and LTI free working environment.

Mr. Steve Newall, Project Director, extended his thanks and congratulations to the joint venture partners for their continued dedication and hard work in seeing project milestones reached thus far.

The Durrat Al Bahrain residential and leisure resort comprises 12 distinctive islands being developed over 21 square kilometres, approximately the size of Manama. The landmark development will feature luxury villas and apartments, private and public beaches, an 18-hole golf course, a full service Marina, a 5-star hotel, modern shopping mall, restaurants and cafes and a piazza, besides many other attractions suited to families.



REMARKABLE PROGRESS ON DURRAT AL BAHRAIN TRANSFORMING MAP OF THE KINGDOM


With the significant progress made on the establishment of Durrat Al Bahrain, the Kingdom’s largest planned residential, leisure and tourist resort, the Kingdom’s coastline is being transformed as the 21 sq km island paradise takes shape.

The latest satellite photographs of the area provide a breathtaking view of the US$3 billion development project, which once complete, will be approximately the size of the city of Manama.

Currently, dredging and land reclamation work are advancing to their final stages, with all of the dredging and reclamation for the project expected to be completed months ahead of schedule.

Durrat Al Bahrain is comprised of a cluster of islands and land areas that together give the development its unique island lifestyle theme. These include: The Crescent, a semi-circular landmass extending into the sea, in addition to 6 Atoll Islands, 5 Petal Islands, a stand alone island set to house a 5-star family hotel and resort, a state-of-the art marina and an 18-hole golf course, which is expected to be developed by a world renowned golf course designer and operating company.

“As reflected in the latest satellite views, there has been remarkable progress made on this landmark project, which will offer a wealth of beach-life and leisure activities for residents and visitors,” said Mr. Jassim Al Jowder, Chief Executive Officer of Durrat Al Bahrain.

He continued, “As the images project, land reclamation work is well underway and we have already completed a significant portion of the project’s main features. All 5 Petal Islands are now finished in addition to two Atoll islands, setting the stage for work to begin on the construction of over 400 villas sold as Phase 1 and 2 of the project. Villas, which were sold out by February 2005, will be ready for delivery, to the delight of owners, from late 2007.”

The project is creating some 15 to 18 kms of sandy beaches and approximately 50 to 60 kms of new seafront.

Ensuring the project is developing according to schedule, four dredgers, of which one is the tallest in the world, are on site, with dredging capacity reaching a massive 100,000 cubic metres a day.

Also moving forward at a fast pace is work on the required infrastructure for the resort community and commercial centre, which at completion in 2009, is expected to accommodate more than 60,000 full time residents in addition to some 4,500 visitors a day.

Infrastructure development currently underway includes piling work for the project’s 12 bridges, which will connect the various islands together and to the mainland, as well as water and sewerage facilities. Work is also in progress on a highway linking Durrat Al Bahrain to Manama, with completion expected by September of this year.

“Whilst we are committed to meeting all project development deadlines, we are equally committed to protecting Bahrain’s environment, including marine life,” said Mr. Al Jowder. A number of environmental impact studies, encompassing both land and sea, have been conducted, with continuous monitoring an integral part of the development work.

Durrat Al Bahrain has been planned as a world-class residential, leisure and commercial and tourist destination, offering a lifestyle experience unrivalled in the Middle East.

The Crescent, which will be the heart of the resort city, will boast 6,000 apartments, a large-scale modern shopping mall, restaurants and cafes, a piazza, public beaches and a host of community facilities, including a mosque, health centres and schools.

The Atoll and Petal Islands will provide quiet residential living, with a total of 2,000 luxury villas of different sizes, private and common beach areas, boat mooring options and breathtaking sea views.

The 400-boat, full service Marina will offer a canal-type lifestyle, with waterfront townhouses and apartments, cafes and shopping. The adjoining 18-hole golf course will also house a 300-room hotel and over 250 villas facing the golf course or the sea.

The Island Hotel is envisioned as a 400-room signature hotel, with private beach and an aqua park.

To facilitate access for all prospective residents, innovative ownership and financing schemes have been put in place. A freehold ownership law has opened opportunities for investment by expatriates and well-thought out financing structures, both Islamically compliant and conventional, are also in place to assist mid-level income earners to own the home of their dreams in Durrat Al Bahrain.



HIGH-RANKING BAHRAIN ENVOYS VISIT DURRAT AL BAHRAIN


High-ranking Bahrain envoys visited Durrat Al Bahrain, the landmark residential resort city in an advanced stage of development in the south of Bahrain.

The envoys, who were representatives of overseas offices of the Economic Development Board (EDB), Ministry of Foreign Affairs, commercial attaches and ambassadors, were in Bahrain for the EDB’s Orientation Week, which was aimed at familiarising Bahrain’s representatives overseas about the country’s achievements.

The group of about 80 representatives were given a first hand insight into the sheer magnitude of this groundbreaking US$1.2 billion project, which is equally owned by the Government of Bahrain and Kuwait Finance House - Bahrain (KFH-Bahrain).

Welcoming the dignitaries at the Durrat Al Bahrain site, Mr. Abdulhakeem Alkhayyat, General Manager, KFH-Bahrain said: “We are delighted to showcase this magnificent project, which will be a significant addition to Bahrain’s economy, a major boost to the country’s tourism industry and a landmark not only in Bahrain but in the world!

“Our vision, with Durrat Al Bahrain, is to establish a world-class concept in living. Working with W.S. Atkins - the renowned engineering design and consultancy - we have successfully developed and introduced a masterplan that builds on Bahrain’s rich natural beauty and traditional affinity with the land and sea combined with every conceivable modern amenity to make the lives of residents as enjoyable and harmonious as possible,” he said.

Durrat Al Bahrain, or the “Pearl of Bahrain” as the project has come to be known, will consist of 13 distinctive islands being developed over 21 square kilometres, approximately the size of Manama, of pristine desert and sea that lay the foundation for a world-class residential, leisure and tourist destination.

The residential and resort city will comprise 2,000 villas, 3,000 apartments and various community facilities including schools, mosques, health centres, private and public beaches, an 18-hole golf course and sports and leisure facilities specifically suited to families. In addition, a promenade featuring a marina and commercial facilities encompassing a variety of traditional souqs and modern shopping areas as well as numerous restaurants and cafes will ensure both residents and visitors a variety of activity.

It is expected that the project will be completed in its entirety from late 2010 and, at full capacity, will accommodate more than 60,000 full time residents in addition to some 4,000 visitors a day.

To facilitate access for all prospective residents, innovative ownership and financing schemes have been put in place. A freehold ownership law has opened opportunities for investment by expatriates and well-thought out financing structures, both Islamically compliant and conventional, are also in place to assist mid-level income earners to own the home of their dreams in Durrat Al Bahrain.



DURRAT AL BAHRAIN PHASE 1 DEVELOPMENT MET WITH OVERWHELMING DEMAND


- Phase Two Bookings Advanced to Accommodate Strong Public Interest -

Durrat Al Bahrain - the Kingdom’s largest planned mixed-use residential, commercial and resort development - announced today that bookings for its distinctive, luxury villas on the developing island paradise were met with overwhelming demand from both GCC nationals and expatriates, with interest exceeding the initial 390 villas on offer for phase 1 of the project’s development.

Phase one sales were launched following the unveiling of a world-class masterplan for the US$1.2 billion project, which is equally owned by the Government of the Kingdom and Bahrain and Kuwait Finance House, Bahrain in a ceremony held under the patronage of His Highness Shaikh Khalifa Bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain, and attended by His Excellency Sheikh Ali Bin Khalifa Al Khalifa in addition to some 500 dignitaries and guests.

Commenting on the phenomenal response to the project, Mr. Abdulhakeem Alkhayat, General Manager of Kuwait Finance House, Bahrain and Chairman of Durrat Khaleej Al Bahrain Company said, “The resounding success of the project to date and strong demand from investors and future residents effectively reflects Bahrain’s position as a compelling lifestyle and investment destination. We would like to express our deep gratitude to the Government of Bahrain and its forward thinking leadership for their efforts and commitment to further economic development as well as the creation of an environment that is highly conducive to investment and even greater prosperity. This is a groundbreaking project that is built upon their vision and drive and we thank them for their ongoing support.”

According to Deputy General Manager and Chief Operating Officer of Durrat Khaleej Al Bahrain Company, Mr. Jassim Al Jowder, “We are extremely pleased with the overwhelming demand we have received for our phase one sales, which exceeded even our own expectations. Spectacular demand not only saw substantial interest in the initial 390 villas on offer, but further resulted in strong interest for the next phase of bookings, which is expected for approximately one month’s time. It is clear that home owners today are seeking an enhanced quality of life marked by the ultimate in modernity, luxury and relaxation - the very features that define Durrat Al Bahrain and its unique and world-class concept.”

Designed to perfection and offering unmatched sea views, beach access and first-rate mooring facilities, all villas aim to offer residents the right balance between the latest high-tech amenities that define a modern lifestyle in conjunction with a healthy and harmonious atmosphere that is grounded in the rich and unspoilt natural desert and sea environments upon which they have been established. Phase one villas, to be established on three islands, will be delivered to owners from late 2007.

The project in its entirely, which consists of 13 distinctive islands to be developed over 21 square kilometres of pristine desert and sea, and which lay the foundation for a world-class residential, leisure and tourist destination, is expected to be completing from late 2010.

The residential and resort city will be comprised of 2,000 villas, 3,000 apartments and various community facilities including schools, mosques, health centres, an 18-hole golf course and sports and leisure facilities specifically suited to families. In addition a promenade featuring a marina and commercial facilities encompassing a variety of traditional souqs and modern shopping areas as well as numerous restaurants and cafes will ensure both residents and visitors a variety of activity. At full capacity will accommodate more than 60,000 full time residents in addition to some 4,000 visitors a day.



DURRAT AL BAHRAIN ANNOUNCES THE FORMAL MARKETING OF WORLD-CLASS PLANS FOR LANDMARK


- Bookings Begin for 390 Luxury Villas To Be Ready Late 2007-

In a ceremony held under the patronage of His Highness Shaikh Khalifa Bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain, and attended by His Excellency Sheikh Ali Bin Khalifa Al Khalifa and over 500 guests, Durrat Al Bahrain - the Kingdom’s largest planned luxury mixed-use residential, commercial and resort development - began the process of selling Phase 1 of the world-class masterplan for the landmark project.

The event, which marks the first comprehensive view into Durrat Al Bahrain’s unique design and lifestyle features, signifies a major milestone in the ongoing development of the US$1.2 billion project, which is equally owned by the Government of Bahrain and Kuwait Finance House, Bahrain.

Commenting on the occasion, Mr. Abdulhakeem Alkhayat, General Manager of Kuwait Finance House, Bahrain and Chairman of Durrat Khaleej Al Bahrain Company said, “This is a groundbreaking project that not only provides a unique proposition for residents but is also a significant step forward in the Kingdom’s plans to encourage and actively work towards the further development of its lifestyle and tourism sectors. The Kingdom of Bahrain and the Durrat Al Bahrain project - together - offer an unmatched lifestyle and investment opportunity and we have amassed all the technical and financial resources required for its success.”

According to Deputy General Manager and Chief Operating Officer of Durrat Khaleej Al Bahrain Company, Mr. Jassim Al Jowder, “We are delighted to present today our vision for Durrat Al Bahrain, which aims to establish a world-class concept in living. Working with W.S. Atkins - the renowned engineering design and consultancy firm with a long-standing and distinguished international track record - we have successfully developed and introduced a masterplan that builds on Bahrain’s rich natural beauty and traditional affinity with the land and sea combined with every conceivable modern amenity to make the lives of residents as enjoyable and harmonious as possible.”

Durrat Al Bahrain, or the “Rising Pearl” as it has come to be known, will consist of 13 distinctive islands to be developed over 21 square kilometres of pristine desert and sea that lay the foundation for a world-class residential, leisure and tourist destination.

The residential and resort city will be comprised of 2,000 villas, 3,000 apartments and various community facilities including schools, mosques, health centres, an 18-hole golf course and sports and leisure facilities specifically suited to families. In addition a promenade featuring a marina and commercial facilities encompassing a variety of traditional souqs and modern shopping areas as well as numerous restaurants and cafes will ensure both residents and visitors a variety of activity.

It is expected that the project will be completed in its entirety by late 2010 and at full capacity will accommodate more than 65,000 full time residents in addition to some 4,500 visitors a day.

The first phase of development which will be completing from late 2007 consists of the construction of 390 villas on three islands - two Atoll islands and one Petal island, names used to distinguish the size and design of the these unique formations.

318 villas, which range in size from 750 square metre plots to 1,000 and 1,500 square metres, will be situated on the larger Atoll islands, while 72 villas, built on 500 square metre plots, will be established on the smaller Petal island.

Designed to perfection and offering unmatched sea views, beach access and first-rate mooring facilities, all villas aim to offer residents the right balance between the latest high-tech amenities that define a modern lifestyle in conjunction with a healthy and relaxed atmosphere that is grounded in the rich and unspoilt natural desert and sea environments upon which they have been established.

Now available for booking, these villas offer prospective residents an ideal investment for life and one that is well suited for both Gulf nationals and expatriate families.

To facilitate access for all prospective residents, innovative ownership and financing schemes have been put in place. A freehold ownership law has opened opportunities for investment by expatriates and well-thought out financing structures - both Islamically compliant and conventional - are also in place to assist mid-level income earners to own the home of their dreams in Durrat Al Bahrain.

Bookings are currently being taken for Durrat Al Bahrain villas on January the 15th from 11am - 10pm and on the 16th and 17th from 10am - 10pm at the Al Noor Ballroom, Ritz Carlton Hotel in Bahrain. Alternatively, interested parties can contact sales associates for Durrat Al Bahrain on +973 17556999.



H.H.the Prime Minister of the State of Kuwait visits Durrat Al Bahrain


In the framework of his brotherly visit to the Kingdom of Bahrain, His Highness Sheikh Nasser Al-Mohammad Al-Ahmad Al-Jaber Al-Sabah, the Prime Minister of the State of Kuwait visited Durrat Al Bahrain on Friday, July 8th, 2011.

 

H.H. was accompanied during the visit by His Highness Sheikh Ali bin Khalifa Al Khalifa, Deputy Prime Minister and the Kuwaiti ambassador to the Kingdom of Bahrain, and other senior officials. Upon his arrival to Durrat Al Bahrain, H.H. was received by Mr. Abduhakeem Alkhayyat, Managing Director and CEO of Kuwait Finance House - Bahrain, Chairman of Durrat Al Bahrain, Mr. Jassim Al Jowder, CEO of Durrat Al Bahrain, and members of the Board of Directors.

 

H.H. was briefed about the project and the progress made, H.H. also visited some of the islands and villas and listened to an explanation by Mr. Alkhayyat about the projects, its objectives, stages, its positive impact on the Bahraini economy, and the future phases that will be implemented.

 

H.H. expressed his admiration of the project, its pace of progress and its world class standard.  H.H. expressed his best wishes for success in the completion of all phases of this vital project.

 

H.H. Sheikh Nasser also stressed on the keenness of the Government of Kuwait to strengthen all aspects of relations with the Kingdom of Bahrain, particularly in the economical and investment field, and its full support of all joint ventures between the two countries, adding that his government will provide all the facilities that enable the private sector in both countries to play its part in the development.

 

Commenting on this ocassion, Mr. Abdulhakeem Alkhayyat expressed his deep thanks and appreciation to H.H. Sheikh Nasser Al-Mohammad Al-Ahmad Al-Jaber Al-Sabah the Prime Minister of the State of Kuwait for visiting Durrat Al Bahrain, and for his valuable comments and guidance.



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