Diyar Al Muharraq Enters a Joint Venture with Eagle Hills Abu Dhabi for the Development of 'Marasi Al Bahrain'
- Diyar Al Muharraq, one of the leading urban developers in the Kingdom of Bahrain, announced the launch of a joint venture with Eagle Hills Abu Dhabi, experts in urbanization and renewal, for the development of the highly distinguished urban project, ‘Marasi Al Bahrain’ on the Eastern Shore of Diyar Al Muharraq.
Manama, Bahrain; 11 December, 2014: The joint venture between the two leading urban development companies, is the first such collaboration between Diyar Al Muharraq and Eagle Hills Abu Dhabi and the project holds the promise of great things in terms of delivering a unique, water side lifestyle, business and leisure destination.
On this occasion, a delegation comprising of officials from Eagle Hills Abu Dhabi Company, led by the company’s board member Mr. Mohamed Alabbar and officials from Diyar Al Muharraq presented a scale model of “Marasi Al Bahrain” project to His Majesty King Hamad Bin Isa Al Khalifa, the King of Bahrain, during a reception held today at Sakhir Palace. The presentation also included a briefing on the project’s components and the services it will offer.
Occupying a total land area of 864,484 square meters, ‘Marasi Al Bahrain’ is set to become a one of its kind destination in the Kingdom with regards to all its exquisite offerings that include luxury hotels and restaurants, high end residential apartment buildings, Centers for business, leisure and entertainment, a harbour for cruise liners to dock, a Central Garden and a Traditional Souq.
In this regard, Mr. Mohamed Alabbar, Board Member of Eagle Hills Abu Dhabi, said: “I take this opportunity to thank His Majesty King Hamad Bin Isa Al Khalifa for his blessings and support to the project.”
“The opportunity to be working with the leaders in the forefront of urban development in the Kingdom of Bahrain, Diyar Al Muharraq, gives us great pleasure. The concept of entering into this joint venture partnership stems from our vision of creating world class developments of the highest standards in fast growth markets with a focus on sustainability and we are confident of attaining this goal as our aim stands in accordance with Diyar Al Muharraq’s as is evident by the enormous scale of the Diyar Al Muharraq project and their unyielding passion for excellence that is reflected in the project that is taking shape,” he added.
From his side, Mr. Abdul Hakeem Al Khayyat, Chairman of Diyar Al Muharraq, commented on the significance of the project and said: “The ‘Marasi Al Bahrain’ project is definitive proof of the progressive vision that Diyar Al Muharraq and Eagle Hills Abu Dhabi share. ‘Marasi Al Bahrain’ will surely have a considerable positive impact on the economy of Bahrain as its many contributions extend to the residential, business, trade and tourism sectors. Once all the concerned documentations are completed, we shall launch investment opportunities open to investors from both private and public sectors.”
“It is projects such as this that make the Kingdom unique in its many offerings and we are glad to be part of this tremendous undertaking. I look forward to the speedy and successful completion of Marasi Al Bahrain and eagerly wait in anticipation for the subsequent remarkable influence of the project both on the Kingdom of Bahrain and the region as a whole,” he added.
Dr. Maher Al Shaer, Chief Executive Officer of Diyar Al Muharraq, expanded on ‘Marasi Al Bahrain’ and said: “We at Diyar Al Muharraq, are excited to be part of this joint venture with Eagle Hills and are proud to be playing a substantial role in this historic endeavor. ‘Marasi Al Bahrain’ will amplify the Kingdom of Bahrain’s reputation as a hub for real estate investment.”
“Concept Design works for ‘Marasi Al Bahrain’ have already begun,” he added.
‘Marasi Al Bahrain’ is a pioneer leisure offering with respect to the magnitude and the range of experiences on avail. Located on the Eastern Shore of Diyar Al Muharraq, ‘Marasi Al Bahrain’ will have a total built up area of approximately 1,252,743 square meters and will include a harbour for cruise liners and ships with fully integrated facilities, 1,980 meters of distinguished beaches that go around the city, a Central Garden that will span 93,000 square meters and which will provide the ideal destination to enjoy nature.
‘Marasi Al Bahrain’ will also feature a Traditional Souq which will be a hub where heritage meets modernity boasting artistic and cultural elements, a business center that sits on 80,000 square meters, which will be a new concept that blends business, technology and prosperity. Another major tourist attraction will be a shopping, leisure and entertainment center; a mall, of over 190,000 square meters of built up area, which will provide a unique experience of a distinguished location along the beach front.
On the residential front, ‘Marasi Al Bahrain’ will provide its inhabitants and tourists with luxury hotels, with over 800 luxury rooms, and restaurants that overlook amazing views on the water front and opulent, high end apartment buildings reaching a height up to 45 meters that offer exquisite views. The residential apartment buildings will comprise a total of 3,500 apartments overlooking clear blue waters.
Diyar Al Muharraq is a unique master-planned city for the people of Bahrain offering a range of housing options and quality lifestyle. Diyar Al Muharraq offers a cohesive mix of residential and commercial properties with a strong line-up of projects aimed at creating a long term and sustainable township.