By Andy Sambidge
Diyar Al Muharraq inks deal to build 300 homes in Chinese-influenced mixed-use project
Bahrain-based Diyar Al Muharraq has signed an agreement with Bin Faqeeh Real Estate Development Company for the development of a major residential complex in the Gulf kingdom.
Dragon Apartments will form part of Dragon City, which is a 115,000 square metre development being built in the southwest corner of Diyar Al Muharraq city.
Dragon Apartments will comprise five multi-storey residential buildings with a total of 300 apartments. Construction work has already begun and is due for completion around the same time Dragon Mall is to be completed in June 2015.
The Dragon City project will be infused with Chinese architectural and cultural aspects and incorporates 780 shops with a special area of 4,500 square metres, designated for warehousing.
The landmark project also includes a 6,000 square metre dining street and car parking for 1,500 vehicles and is expected to attract more than half a million visitors a year.
Dr Maher Al Shaer, CEO of Diyar Al Muharraq, said: "With Diyar Al Muharraq's vision being perfectly aligned with Bin Faqeeh philosophies of the highest standards and quality of work, we are assured that this is to be a fruitful and mutually beneficial relationship that will spur us on to greater heights.
"Due to its strategic location, the project is set to be greatly advantageous to those who have commercially invested in Dragon Mall as it would provide the ideal residence for those working in the Mall due to its close proximity."
Faisal bin Faqeeh, chairman of Bin Faqeeh, added: "The opportunity to develop Dragon Apartments within Diyar Al Muharraq gives us immense pleasure and we are extremely enthusiastic to be partnering with an urban developer in the forefront of the real estate sector in the Kingdom of Bahrain.
With the foundations of both the Mall and the Dining Street already laid, the completion of all works is due by mid 2015.For all the latest construction 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.