Gulf Construction Online - Marassi homes set for handover

Bahrain

Marassi Al Bahrain ... the masterplan.

Marassi homes set for handover

01 January 2019

The year 2018 was a period of major milestones for Marassi Al Bahrain: Phase One of the infrastructure works was completed and construction of Marassi Galleria Mall, Vida Hotel and Serviced Apartments received the go-ahead with the appointment of the Shapoorji Pallonji Mideast-Cebarco Bahrain joint venture as contractor.

Additionally, Eagle Hills Diyar, the developer, also secured financing of BD141 million ($373 million) from a consortium syndicate of seven local and UAE banks for Marassi Galleria and the two world-class hotel chains, writes ABDULAZIZ KHATTAK of Gulf Construction.

Also completed were two substations to supply power to the district cooling plants, which will have a capacity of 15,000 tons of refrigeration (TR). In this regard, a 30-year concession from the Electricity and Water Authority (EWA) was signed, bringing the completion of this highly anticipated development closer.

Marassi Shores Residences ... slated for handover in September.

The masterplanned Marassi Al Bahrain is being developed as a joint venture between Diyar Al Muharraq, a leading developer in Bahrain, and Abu Dhabi-based real estate investment development company Eagle Hills.

It offers a cohesive mix of residential and commercial properties and features 2 km of seafront and pristine sandy beaches.

The development is conveniently located near three major highways and is in close proximity to the central business district of Manama, as well as the Diyar Al Muharraq waterfront, thus making luxury living a reality.

“Marassi Al Bahrain was developed to provide those seeking a waterfront lifestyle with the opportunity to become part of a vibrant and dynamic community,” says a spokesman for the project.

The centrepiece of Marassi Al Bahrain and a key anchor within the masterplan is Marassi Galleria, which will set a new benchmark for retail offerings in Bahrain. It will provide residents with a world-class shopping and entertainment destination and house some of the world’s top retailers.

Marassi Galleria ...a key anchor within the masterplan.

Marassi Galleria will include retail areas extending to the beach and merging with leisure and recreational facilities located on the beachfront.

The development also comprises a number of residential components, including Marassi Residences, the first premium residential offering be launched. Consisting of two- and three-bedroom apartments, this project is directly connected to Marassi Galleria. The residential building is nearing completion and is scheduled for handover to residents this month (January).

The second residential complex launched was Marassi Shores Residences, which enjoys a prime location, in close proximity to the waterfront promenade, world-class hotels and Marassi Galleria. Offering 875,000 sq m of waterfront, residential, hospitality, retail and entertainment space, the project – work on which is progressing as scheduled – is slated for handover in September 2019.

Meanwhile, Marassi Boulevard encompasses four residential buildings, each with 240 units ranging from studios to three-bedroom apartments. It is located within walking distance from the waterfront promenade and the two world-class hotels, The Address Marassi Al Bahrain and Vida Marassi Al Bahrain.

Residents of Marassi Boulevard will have direct access to premium dining and retail outlets, as well as Marassi Galleria. Other facilities include a state-of-the art gym, swimming pools and playgrounds, meeting the needs of residents of all ages. Marassi Boulevard is slated for completion in March 2020.