UAE's Eagle Hills opens Bahrain office, sees 'great potential'

Developer cements presence in Gulf kingdom as it presses ahead with mega project Marassi Al Bahrain
UAE's Eagle Hills opens Bahrain office, sees 'great potential'
By Staff writer
Fri 04 Dec 2015 10:04 AM

Abu Dhabi-based developer Eagle Hills, which is headed by Emaar chief Mohamed Alabbar, has opened an office in Bahrain as it presses ahead with plans to build its first mega project in the Gulf kingdom.

Eagle Hills is now considered one of the largest foreign direct investors in the country, as it develops Marassi Al Bahrain in partnership with Diyar Al Muharraq.

Alabbar said in a statement: "We see a great potential in Bahrain as it is one of the key markets for Eagle Hills in the MENA region.

"Through our strategic partnership with Diyar Al Muharraq, we strive to share the knowledge and expertise of Eagle Hills' experienced team to successfully deliver Marassi Al Bahrain, a project of the future."

Eagle Hills signed a joint venture agreement with Diyar Al Muharraq in November 2014 to roll out its first project in Bahrain.

The company is currently developing a number of mega developments in Jordan, Morocco, Serbia and Nigeria.

Alabbar added: "Marassi Al Bahrain will undoubtedly create a sustained revenue stream which will serve in revitalizing the Bahraini economy and support the government in achieving its Vision 2030.

"We anticipate that it will become a key touristic destination in the GCC which will create thousands of new jobs, promote new sectors including retail, hospitality and leisure, and drive inward investments to the country."

Spread over 864,000 sq m, Marassi Al Bahrain combines tourism, retail, hospitality and residential spaces and will feature a 190,000 sq m retail and entertainment destination, interconnected with two hotels both offering access to a 1km long beach and a waterfront promenade.

Upon completion, Marassi Al Bahrain will be home to 22,000 residents, and provide business space to employ over 1,200 people.

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