Gulf Construction Online

Real Estate

News in brief

01 April 2020

GFH Properties signs top brands for Harbour Row

Fit-out and other works are progressing on the landmark Harbour Row project at Bahrain Financial Harbour located in the heart of Bahrain’s capital Manama, which is expected to open to visitors in the third quarter of 2020.

Its developer GFH Properties, the real estate arm of GFH Financial Group, last month signed with top-tier international brands that will establish their franchises in the 14,000 sq m of retail space at the waterfront project.

Harbour Row’s retail area will comprise world-class outlets including internationally known food and beverage (F&B) franchises and a host of global retail brands. It is expected to become one of Manama’s most vibrant retail and commercial areas.

The Harbour Row residential area features more than 300 luxury, state-of-the-art apartments split between the development’s East and West sides in addition two top five-star hotels.

Cementing Harbour Row’s position as a leading lifestyle and tourism destination, GFH Properties recently announced agreements that will see the establishment of a 106-room luxury hotel and residences to be managed by H Hotels, which has built a world-class portfolio of well-known properties and brands, as well as the opening of a 160-room Accor boutique hotel – Mama Shelter.

Shaikh Hamed Al Khalifa, CEO of GFH Properties, says: “This is another exciting milestone for Harbour Row and the development of another exciting and vibrant retail and commercial centre in the heart of Manama and the Bahrain Financial Harbour.”

NBB inks major finance deal with Eagle Hills Diyar

The National Bank of Bahrain (NBB) has signed a collaborative agreement with Eagle Hills Diyar (EHD) to provide NBB customers with special offerings for properties within the kingdom’s iconic waterfront development Marassi Al Bahrain.

Marassi Al Bahrain is a highly distinguished urban development situated in Diyar Al Muharraq, with direct access to major highways and in close proximity to the kingdom’s central business district.

The agreement will now pave the way for NBB customers to benefit from special offerings on mortgage loans when purchasing properties in Marassi Al Bahrain.

The signing of this agreement underscores NBB’s commitment towards supporting the real estate sector and is an integral component of the bank’s strategy, remarked Subah A Latif Al Zayani, Head of Retail Banking at NBB after signing the deal with Dr Maher Al Shaer, Managing Director of Eagle Hills Diyar.

“At NBB, we continuously strive to find innovative ways of providing our customers with products and services that meet their needs by offering value added propositions,” he stated.

“We are pleased to be partnering with Eagle Hills, a world-renowned real estate developer, as through this strategic agreement, we will now be able to provide customers with extended housing solutions at competitive rates, and extend our mortgage loans to prospective buyers, facilitating their purchase of any of the residential units under Marassi Al Bahrain development including complementary property registration charges,” he added.

On the key partnership, Dr Al Shaer said: “We are very pleased that through our partnership with the NBB, Marassi Al Bahrain homeowners and investors can now benefit from special financing solutions.”

Sharjah’s first real estate digital platform launched

Sharjah’s first digital platform dedicated to real estate marketing, Sharjahre.com, was launched at the three-day Real Estate Investment Exhibition (Acres 2020) which concluded on March 7.

‘Sharjahre.com’ was launched at a dedicated pavilion where the features and advantages provided by the platform for all property and service companies and agencies operating in the emirate were showcased and explained in full detail to the visitors of the major realty show.

The platform is a strategic partnership involving Omnes Media, a state-of-the-art digital media and communications platform; the UAE-based Arms & McGregor International Realty, a renowned real estate agency; and Sahara Consultancy. It has been developed by Below & Beyond Production, in Sharjah

Speaking at the launch, Fahed A Aldeeb, CEO of Omnes Media, and vice-president of Sahara Consultancy, said: “We are starting the pilot phase of the platform, which will feature detailed inputs about the various aspects of the real estate sector in Sharjah, including data covering all property developers and service companies operating in the emirate. The pilot will also provide all required details on the real estate projects launched in the emirate, in addition to information and services of interest to various segments of society.”

Aldeeb pointed out that Sharjahre.com was designed to render valuable services to all parties concerned, and to familiarise the public, especially those living outside the emirate, with the investment opportunities up for grabs in the property sector.

“We will work for promoting existing, under-construction and future real estate developments in the emirate through advanced digital solutions that will address and cater for the needs of both end-users and those segments of society seeking promising investment opportunities,” he added.