Gulf Construction Online

Real Estate

News in brief

01 January 2020

Edamah signs leasing deals for Bahrain waterfront project

Bahrain Real Estate Investment Company (Edamah), the local real estate arm of the kingdom’s sovereign wealth fund, said it has recently signed lease agreements with several tenants, who will be opening outlets at Sa’ada Waterfront.

The Sa’ada project, endorsed by HRH Prince Khalifa bin Salman Al Khalifa, the Prime Minister of Bahrain, is a vibrant lifestyle development project providing a community space that combines family entertainment centre, retail and tourism sectors, says Edamah.

Phase Two of Sa’ada Waterfront will offer visitors ease of access through a multi-storey car-park building that boasts 202 parking spaces, as well as a marina consisting of 37 berths for boats of various sizes, it adds.

On the deals, Edamah CEO Amin Alarrayed says: “We are extremely pleased to sign with a number of tenants from various sectors such as CrossFit Muharraq, the modern boutique fitness facility, and Food World, which owns a series of supermarkets, department stores and cafes.

“With Sa’ada Waterfront, we wanted to create a vibrant atmosphere and shared space for the entire community to enjoy, these four F&B outlets Bunzz Food Truck, Kushari Boulevard, Qahwa & Karak and Karam Al Bahrain, will offer the perfect mix of traditional Bahraini food and modern cuisine.”

“Sa’ada Waterfront is truly a unique project featuring public promenades throughout and offering visitors the opportunity to spend the day enjoying cafes, restaurants, and entertainment and wellness facilities with waterfront views all in a single place,” remarks Alarrayed.

“As project construction is now completed and approximately 30 per cent of commercial units are leased, we would like to encourage everyone to take advantage of this opportunity to register their interest early, before the spaces are fully occupied,” he adds.

Two Rosewood properties to open in Lusail City

Rosewood Hotels & Resorts opens the next chapter of its Middle East expansion with its appointment to manage Rosewood Doha and Rosewood Residences Doha, opening in Lusail City in 2022.

Partnering with Arkaz Investment, this latest jewel in the collection’s crown will bring Rosewood’s signature contemporary ultra-luxury hospitality to Qatar.

The design concept of the Rosewood hotel and branded residences is based on underwater forms, specifically the local coral formations. The organic architectural design approach is aimed at respecting the site and its surrounding Arabian Gulf waters, while promoting a harmony between human habitation and the natural world. Housed in two striking towers, Rosewood Doha and Rosewood Residences Doha will consist of an ultra-luxury hotel with 185 exquisite guestrooms and sumptuous suites, 173 serviced apartments for longer-term stays and 300 residences available for purchase.

The complex architectural project is conceptualised by a team from Arab Engineering Bureau (AEB).

A $45-billion project, Lusail City extends across an area of 38-sq-km, comprising four exclusive islands and 19 multi-purpose residential, mixed-use, entertainment and commercial districts. The hotel will be one of the city’s most dynamic culinary destinations with a collection of eight outlets, including a bistro, lobby lounge, coffee shop/deli, three specialty restaurants, cigar lounge and a lifestyle entertainment lounge. Featuring a 1,500-sq-m ballroom, the property will showcase multiple private event venues, anchored around sleek interiors and state-of-the-art technology.

Lootah launches lifestyle retail hub in Dubai

Dubai-based Lootah Real Estate Development has launched its latest retail lifestyle project located near Ewan Residences, its property in Dubai Investment Park (DIP).

The new leisure area will be composed of several shops and dining options. The retail shops will be located on the property’s two levels over 1,400 sq m.

Saleh Abdullah Lootah, CEO of Lootah Real Estate Development, says: “We are excited about the Ewan retail project as it reflects a unique community experience that consumers are seeking for a convenient yet contemporary lifestyle. We are confident that through this retail initiative, Lootah will be able to provide shopping and dining options within the community for the growing demand of residents in Dubai Investment Park.”

According to Lootah, the real estate company has chosen Dubai Investment Park as the hub for its lifestyle retail project because of the wide range of opportunities it offers for businesses and residents. For one, the 2,300-hectare business and residential destination covers an extensive array of industries.

DIP is also sought-after because of its accessibility. It is strategically situated near areas where business is thriving, such as Dubai Production City, Maktoum International Airport, the Jebel Ali Free Zone, as well as the most-awaited Expo 2020 – which is expected to be a game-changer in Dubai’s overall economy.

“We are committed to developing our presence in Dubai Investment Park through Ewan Residences and the lifestyle retail project, and we look forward to contributing to the growth of Dubai’s first-ever self-contained town – one that perfectly blends convenience and authentic interaction, the two main factors of modern living, in one great harmony,” Lootah concludes.