BizBahrain Magazine (May-June 2019)

Highlights | Real Estate
Era Projects
to start new
developments
at Diyar Al
Muharraq
ERA Projects will acquire a
parcel of land to develop
a residential community
with Diyar Al Muharraq. The
residential community will
comprise of luxury units in
line with Diyar Al Muharraq’s
distinctive offerings. The
freeholder properties will be
launched in the second half of
2019 for potential customers
who are looking to explore
a modern lifestyle in an
integrated city.
Dr. Maher al Shaer
commented, “We are pleased
to enter this partnership with
Boutique Retail
and Restaurant
complex, Ain 520
CBRE Bahrain have
announced a new
boutique retail, F&B and
leisure development on
Budaiya Highway which
is set to become one of the
country’s most popular lifestyle
destinations. The global
real estate firm have been
appointed to lease and manage
the property, which will offer
over 5,000 sq.m across 14
stand-alone units.
This previously residential
compound with generous
gardens and common areas,
is currently undergoing
one of the most prominent
real estate developers in
the Kingdom, who will
uplift Diyar Al Muharraq by
adding a vibrant residential
community. We look forward
to adding a luxury project
under Diyar Al Muharraq’s
umbrella, and look forward to
this fruitful partnership.”
Abdulhussain Khudhur
said, “Diyar Al Muharraq
is one of the largest
developments in the Kingdom
of Bahrain with attractive
residential, touristic and
leisure elements and we are
pleased to announce our
partnership, which allows
us to develop freehold units
within the largest urban
housing development in the
Bahrain.”
A unique master planned
city for the people of Bahrain,
Diyar Al Muharraq offers a
range of housing options and
quality lifestyle. Offering a
cohesive mix of residential
and commercial properties,
Diyar Al Muharraq has a
strong lineup of projects
aimed at creating a long term
and sophisticated township.
conversion works to become
Ain 520, a retail, F&B and
leisure concept that offers an
appealing, green environment
for customers - inspired by art
and nature.
The property, which is well
located on Budaiya Highway,
near the Sar Avenue junction,
provides good visibility and
access, ample parking with
over 200 spaces and attractive,
colourful landscaping designed
to ensure the project offers a
unique experience for visitors.
The project is currently preleasing
and the first operators
are expected to open later this
year. Ain 520 provides space
for dine in restaurants with
outdoor seating, convenience
focused drive throughs,
Bin Faqeeh signs
first Staybridge
Suites Hotel in
Bahrain
Bin Faqeeh Real Estate
Investment Company
S.P.C. signed the first
StayBridge® Suites Hotel
in Bahrain in partnership
with InterContinental Hotels
Group (IHG).
Located in the heart of
the capital, Staybridge®
Suites Manama Al Seef will
benefit from its proximity to
the popular shopping and
commercial destination, the
Seef District. Guests can also
enjoy home-like surroundings
and amenities throughout
the hotel with a feeling of
community including a fully
equipped kitchen, spacious
suites, large workspaces,
complimentary WiFi, a
business centre and fitness
centre.
retailers, and health and beauty
centres amongst others.
Richard Botham, CBRE’s
Senior Director and General
Manager, said: “We are very
pleased to have been appointed
to consult on, lease and
manage Ain 520 - a project
that we believe will stand out
as a F&B destination, themed
by local art and culture while
providing a great platform for
new trends. Local residents
and other visitors will find Ain
520 offers something for the
whole family, day and night,
with a varied mix of operators
targeted to take up space in the
development.’’
Faisal Faqeeh, Chairman
of Bin Faqeeh Real Estate
Investment Company S.P.C.
said, “The fantastic location
combined with the unique
offering of Staybridge Suites
Manama Al Seef, makes it
the ideal choice for travelers
looking for a home away from
home experience.”
Pascal Gauvin, Managing
Director, India, Middle East &
Africa, IHG said, “The tourism
industry in Bahrain is gaining
momentum with an increase in
leisure and business travelers,
especially from the GCC
countries, that is resulting in
a rising demand for long stay
accommodation. Seef District
is the commercial hub of
Bahrain and boasts of some of
the best shopping destinations
in the city, which is why it
makes perfect sense to develop
the Kingdom of Bahrain’s first
Staybridge Suites here.
‘’Staybridge Suites Manama
Al Seef marks our third hotel in
the country, positioning us to
cater to a wider-range of guest
profiles, and we look forward
to welcoming our guests to
this newest addition to our
portfolio, in 2020’’.
Bin Faqeeh has a large
portfolio of projects offering
a wide range of real estate
options that meets different
needs and expectations of
any investor. It aims to be the
benchmark for generating
innovative investment
opportunities, merging
global best practice and local
expertise to deliver value
adding projects.
Staybridge® Suites is IHG’s
extended-stay brand known
for its warm welcome and
well-designed, spacious suites,
that put guests at ease from
the start of their stay. There
are currently five Staybridge
Suites® hotels open across
the Middle East, with a further
eight due to open in in the next
three to five years.
54 May-June 2019