Breathtaking luxurious residences located in the heart of the capital with world-class design will be showcased at Cityscape Bahrain 2023.
BAHRAIN BAY RESIDENCES
Bahrain-based Bareeq Al Retaj, which manages several diversified portfolios in the Kingdom, will be revealing the Four Seasons Private Residences Bahrain Bay Project.
Strategically located in Bahrain Bay, the development consists of 98 apartments, 8 duplexes and 6 penthouses.
Four Seasons Private Residences offers homeowners stunning views of both waterfront and easy access to a variety of resort-style amenities and services.
Homeowners will enjoy access to the neighbouring Four Seasons Hotel Bahrain Bay as a remarkable extension of their homes with resort-style amenities, multiple restaurants, and a pristine beach or chauffeured golf cart-journey-away via private bridge.
Each home will overlook Bahrain Bay, the iconic Bahrain World Trade Centre, the Manama Skyline or the sea.
FOUNDATION FINISHED
The developers announced in April that 50 per cent of the construction work on the waterfront was complete, and all excavation and filling, piling and works were complete on both towers of the project set to open this year.
“The Four Seasons Private Residences Bahrain Bay offers an unparalleled luxury lifestyle experience in the heart of Manama,” says Bareeq Al Retaj’s managing director and vice chairman Dr Maher Al Shaer.
“By integrating residential living with world-class hotel amenities and services, the project offers a tailored living experience on par with high-end hotel stays.”
CITYSCAPE 2023
He added that showcasing the luxurious development project during Cityscape Bahrain is a unique opportunity that allows those looking for distinction and sophistication in their lifestyle to explore the advantages and facilities that Four Seasons Private Residences Bahrain Bay provides.
It is one of the several lineups of projects that will be showcased at the exhibition set to take place from November 14-16 at the Exhibition World Bahrain in Sakhir.
BIG NAMES
Held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, this year’s exhibition features some of the biggest names in the real estate sector who will showcase groundbreaking architects, prime properties and exclusive deals backed by a number of participating financial institutions.
Some of the attendees this year include Bahrain Marina Development Company, Bahrain Real Estate Investment Company (Edamah), Durrat Al Bahrain, Danube Properties and Regal London amongst many others.
The exhibition is backed by the Real Estate Regulatory Authority in Bahrain (RERA). Last year the event showcased over 10,000 projects and achieved sales of approximately 689 properties in a short span of four days, amounting to BD101 million ($267m).
The conference programme provides investors with the opportunity to learn from industry experts and to gain insights into the latest trends and developments.
ATTRACTIVE FOR INVESTORS
The premier event takes place at a time when the trajectory of the real estate sector in the kingdom has shown growth in the non- oil sector category, according to the preliminary government data for Q2 2023 released by the Finance and National Economy Ministry.
Growth driven by the non-oil sector was 2 percent and is projected to grow 3.8 percent in 2024
The Construction sector contributed 6.9 percent to Bahrain’s GDP during the period, while real estate contribution was 5.3 percent, both in the non-oil sector.
Data indicates the real estate and business activities sector expanded by 4.9 percent Year-on-Year during the second quarter of this year, with a significant increase in the value of real estate trading by 19 percent (YoY) as well as the increase in the volume of real estate transactions.
This can be further backed as real estate transactions in Bahrain from January this year until last Friday (Nov.10) totalled 19, 583, according to data by the Survey and Land Registration Bureau (SLRB).
This is compared to 21,603 transactions last year.
FIVE OFFSHORE CITIES
Bahrain launched a series of development projects to create jobs and boost growth as part of its Strategic Projects Plan announced in 2021 that will see over $30 billion invested in over 20 projects – including the construction of 5 new offshore cities.
The proposed five cities to be situated on manmade islands would see Bahrain’s total land area increase by more than 60 per cent.
Among those planned, the largest is Fasht al Jarim, which will span 183sqkm providing a residential, logistics, and tourism hub and a new airport.
Other mega projects in the pipeline include a 100km Bahrain Metro and the four lane King Hamad Causeway connecting Bahrain to Saudi Arabia.
Authorities maintain the signature projects will cover key sectors – including telecoms, tourism, education, manufacturing, and health.
A dedicated Sports City, Medical City and a Tourist city that will feature a series of resorts in the southwest of Bahrain are also among the ambitious plans.
Photo credit: bahrainbayresidences.com
