01 May 2019

Ithmaar Development Company (IDC), the main authority behind the landmark Dilmunia Project, has completed the Phase Three infrastructural works for the $1.6-billion project in Bahrain, according to Mohamed Abdulrahman, manager, ID Capital.

“Infrastructure workwise, we have reached Phase Three of the project,” he said at the Gulf Property Show 2019, held in Bahrain last month. “The island is pretty much ready … now it is up to the developers to develop the rest of the project.”

Dilmunia Project is a mixed-use development being built on a man-made island off the coast of Muharraq with residences, a hotel and leisure element and shopping districts anchored around a health and wellness cluster.

Dilmunia offers a range of residential and commercial amenities.

Giving an update on the construction of the project, Abdulrahman said that Dilmunia has at present completed the construction of two main residential buildings and all the individual houses as per the construction timeline.

The developments that have been completed within the island include The Treasure by Bin Faqeeh Development Company, The Essence of Dilmunia by Ahmed Al Qaed Group, and Seavilla by IDC.

“We have the shopping mall opening at the end of the year, so that will give a huge boost to the development of retail services on the island,” he added, referring to the opening of Mall of Dilmunia, a family-centric and entertainment facility which is set to open by the end of 2019 (see Real Estate, Page 94).

According to Abdulrahman, IDC is now looking to sell small plots of land of 500 to 700 sq m for residential houses on the man-made island, in addition to plots of land suitable for a marina; a hotel and retail services.

Projects under construction include: CanalView by Naseej, The Hanging Gardens by Ahmed Al Qaed Group, a resort project by Al Tijaria (The Commercial Real Estate Development Company) and the Mall of Dilmunia.

The development of the ambitious 125-hectare man-made island is being managed by IDC, which is a wholly-owned subsidiary of Ithmaar Bank, a Bahrain-based Islamic retail bank.  

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• In brief

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