Construction work has commenced this month on a $530 million (BD200 million) Bahrain Marina Project in the heart of the capital in Manama, that aims to boost tourism and serve as a key commercial hub.
It was preceded by a signing ceremony of final agreement to initiate project construction, hosted by the Bahrain Marina Development Company at its headquarters. Board chairman Khalid Najibi and Nass Contracting managing director Yusuf Al Thawadi inked the deal for the ambitious project in the presence of several other officials.
The mixed-use project featuring residential, leisure, entertainment and marina facilities has engaged the services of Bahrain-based Nass Contracting, a subsidiary of Nass Corporation and Mohamed Salahuddin Engineers and Architects (MSCEB) for the inaugural phase, with an estimated cost of $244m(BD92m).
LUXURY MARINA DESTINATION
The development's master plan spans over 256,425 square metres which is designed by UK firm Benoy.
Project details include 192 retail outlets, 1,769 underground parking spaces, 235 berths for luxury yachts and boats, 235 residential units, a hotel covering 68,637sqm with 304 rooms, and a pristine beach resort area covering 37,814sqm.
The first phase is expected to be completed by September 2026.
CULTURAL AND TOURIST HUB
The project situated along Manama's eastern coastal strip is located at a distance of 20km from the King Fahad Causeway - the main tourism artery that connects Bahrain with Saudi Arabia.
The development is strategically positioned for transformation into a global hotspot to boost the tourism sector.
"The collective goal is to transform this coastal area into an unparalleled tourist, commercial, and residential enclave in Manama, the capital city," said Mr Najibi.
"This development will offer a unique blend of living, shopping, scenic beaches, and diverse water sports activities.
"The comprehensive project scope encompasses a marina club building, a commercial complex, restaurants, and a multi-storey tower featuring luxurious sea-view apartments."
ALIGN WITH TOURISM STRATEGY
Mr Najibi further said the project will generate employment opportunities and align with the broader goals outlined in Bahrain's tourism strategy (2022-2026).
Nass Group board chairman Sameer Nass added that the project is considered as one of the promising investment projects that achieve attractive returns for its investors.
"This project represents a significant addition to the Kingdom and will usher in an unparalleled comprehensive expansion," said Mr Nass.
"This aligns with Bahrain's overarching development plans and objectives, driven by ongoing efforts to provide vital tourist and commercial attractions."
According to the latest statistics 5.9 million visitors arrived in Bahrain over the first six months of this year, up from 3.9 million during the same period last year - an increase of 51 per cent
The total inbound tourism revenues increased during the first half of the year 2023 by 48 percent to reach $2.3billion (BD924m), up from$1.6bn (BD623m) for the same period of 2022.
Photo credit: Bahrain Marina Development Company