Bahrain developer Diyar Al-Muharraq on Wednesday relaunched its $3.2 billion reclaimed island project, which is expected to house over 100,000 people on completion.
Situated on the northern shores of Muharraq, the development was previously known as the Two Seas project, with a seahorse-shaped design. But the design was reportedly found unsuitable, with available land too limited to make the development viable.
The project has been redesigned as 11 separate islands, with Kuwait Finance House (KFH) as the projects major investor.
Aaref Hejres, CEO of Diyar Al Muharraq, said the scale of the urban development had required the firm to “thoroughly research many aspects including urban planning, amenities, infrastructure, and environmental measures among others”.
High level consultations have ensured that the necessary and appropriate approvals are in place, he said, without offering further details on why the project had been relaunched.
On completion the 12km man-made city will be one the biggest mixed-use residential urban developments privately launched in Bahrain. The project will be released in phases, with first facilities ready in 2010.
The development also includes international five-star hotels, a business district, and light logistic and support area.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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