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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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