Eagle Hills, the UAE-based private real estate investment and development company, has announced that both residential unit sales and development work for the first phase of its Bahrain mega project Marassi Al Bahrain are set to launch during the first quarter of 2016.
The project, launched in partnership with Diyar Al Muharraq, will also see the opening of a kilometre stretch of sandy beach and F&B outlets before year-end alongside the sales centre.
The first phase of Marassi Al Bahrain includes a lifestyle shopping complex anchored by two luxury hotel brands The Address Hotels + Resorts and Vida Hotels and Resorts, seafront residential apartments, a canal waterfront promenade and a community mosque.
The first of the five development phases will be completed by 2019, a statement said.
Marassi Al Bahrain, spanning 864,000 sq m, will be constructed on the eastern shores within the master planned community of Diyar Al Muharraq, forming a key luxury component of Bahrain's largest private urban project.
Low Ping, CEO, Eagle Hills, said: "The first phase of Marassi Al Bahrain assures an array of retail, F&B, leisure and entertainment choices for residents and visitors. The strong interest received this year, not only from the region, but also from global investors, indicates the project is one of the key residential property launches.
"We anticipate successful sales, as the development offers exceptional value across all aspects."
Upon completion, Marassi Al Bahrain will be home to 22,000 residents with a total of 3,500 residences and a total retail space of 250,000 sq m, creating over 1,200 jobs.
Potential investors can register their interest online and visit the recently launched website www.marassialbahrain.com for more information, ahead of the sales launch which will be announced soon.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.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.