Bahrain Real Estate News
Bahrain real estate developments bag Arabian Property awards
Two major developments in Bahrain have bagged top awards at this year Arabian Property Awards.
The Platinum Tower has been voted as the Four Star best office development in the Arab region, while the Abraj Al Lulu has been awarded the CNBC Arabia Five Star high-rise residential project award.
The awards form a part of the International Property Awards, and are given away at a time when the property market is thought to be coming out of the grips of recession, said the Director of Pegasus Real Estate, Aziz Mithaiwala.
“We are happy that the two major projects in Bahrain have bagged these prestigious awards,” he said.
Currently about 200 families have already moved into Abraj Al Lulu, while another 600 have taken possession. The Platinum Tower is almost complete and will be ready for occupying during the first quarter of next year. A complete mock-up floor is also open to prospective buyers for viewing, he added.
Worth a total of BD25m, the Platinum Tower project is located at Seef, Bahrain’s commercial hub, and will be an exclusive private sector freehold commercial development. The tower comprises 128 offices spreading across 29 storeys. It offers 253 parking bays, apart from Health Clubs, Executive Health Spa with Steam/Sauna, swimming pool, jacuzzi, sun deck and landscaped terrace.
The Abraj Al Lulu is a large residential project in Manama. The project comprises three large towers, two of which are 50-storeys and one with 40-storey. The three towers, namely, Gold Pearl, Silver Pearl, and Black Pearl, are located adjacent to King Faisal Highway, close to popular landmarks such as the Pearl Roundabout, and in proximity to Bahrain World Trade Center, NBB Tower and Bahrain Financial Harbour.
Posted on 3/11/2009
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