01 July 2020

Bahraini authorities have resolved the issues linked to the majority of the stalled projects across the kingdom and now only three such projects remain ‘under review’ compared to eight unfinished projects in 2014, reported the Gulf Daily News, our sister publication.

It comes as the Villamar development, located on the Manama waterfront, has become the latest to be removed from the stalled projects list.

GFH Properties, the real estate arm of GFH Financial Group, is completing the $700-million project, spread over 35,900 sq m at the heart of Bahrain Financial Harbour.

“The Ministerial Committee for the Development and Infrastructure Projects held talks with the developers of Villamar project who agreed to complete the project and hand over the housing units to its owners soon,” head of the committee, Deputy Premier Shaikh Khalid bin Abdulla Al Khalifa was quoted as saying in the GDN report.

“The project, developed by GFH Properties, is located on the beachfront and consists of three towers of which off-plan units were only sold in Tower B,” he added.

Shaikh Khalid explained that the committee works on two principles: the first includes amicably resolving the issue with the developer and the second is to refer the project to the Judicial Committee for the Settlement of Stalled Real Estate Projects.

He said in the case of Riffa Views, Landmark Cityview Tower, Juffair Views and now Villamar, the developers agreed to complete the projects after consultation with the committee. However, projects still under review are being dealt with by the judicial committee. They are Marina West, Sunset Hills and Elegant City Development Project.  

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Gulf Construction is the undisputed leading trade journal for the building and construction industries of Saudi Arabia and the other Gulf states. The magazine provides editorial coverage on a wide range of topics which are of interest to industry professionals. In addition, regular features highlight technological developments within specific industry fields. Launched 40 years ago, the magazine has established an enviable reputation as an authoritative, respected journal with unmatched coverage of the Gulf region. Gulf Construction is essential reading for anyone with a serious interest in the region’s building and construction industry.