Bahrain, 25th June, 2008: Diyar Al Muharraq, one of the biggest mixed-use residential urban developments ever undertaken by the private sector in Bahrain, was launched today with a spectacular aerial viewing of the 12-square-kilometre site of the future city. The urban development's anticipated total investment value is BHD 1.2 billion (US$ 3.2 billion) with
Kuwait Finance House (KFH)Kuwait Finance House (KFH) as the major investor.
It is setting a benchmark in urban development in many ways, not least the physical scale and the expected number of planned properties standing at 30,000, which will house over 100,000 people on completion. Diyar Al Muharraq's long term strategy also includes a plan to support the Ministry of Housing's social housing programme.
Situated on the northern shores of Muharraq, the development will be gradually released, with the first facilities ready for use in 2010. The developer's vision is to create a unique city for the future, offering a choice of housing and a quality lifestyle for all. Diyar Al Muharraq is unique in offering an unprecedented lifestyle for people of all incomes to enjoy, as the pricing structure and selection of freehold properties is accessible to buyers from various income levels.
The masterplan maps out a self-contained city with many accessible, landscaped public spaces, incorporating around 40 kilometres of waterfront which includes sandy beaches and a marina. This will be among the largest publicly accessible waterfront in the Kingdom.
The development also includes numerous community spaces and facilities, abundant landscaping, a number of international 5-star hotels and a large shopping mall with extensive parking, business district and light logistic and support area.
Aaref Hejres, Chief Executive Officer of Diyar Al Muharraq, said: "Diyar Al Muharraq is signalling a new era and a proud future for Bahrain as it provides the stepping stones to meet all people's aspirations of property ownership. It will embody the best of what people expect and deserve in both a home and a community."
Mr Hejres continued: "As a Bahraini company, run by Bahrainis, we wanted to contribute to our community. This is the first time that a private developer in Bahrain has invested in a development that includes various levels of housing as one of many options, all of which will share the same high standard of living and amenities. Our goal is to be part of a concerted housing strategy for the Kingdom, and we are actively working towards securing close links with the relevant government departments."
Diyar Al Muharraq has invested time to develop a detailed masterplan with internationally renowned consultants in conjunction with local government agencies.
"An urban development of this scale required us to thoroughly research many aspects, including urban planning, amenities, infrastructure, and environmental measures among others. High level consultations have ensured that the necessary and appropriate approvals are in place. The result is a comprehensive and methodical plan to progress the many facets of Diyar Al Muharraq," he added.
The substantial development will provide huge employment opportunities for local people combined with significant potential for investment across a range of residential and commercial properties. The city's comprehensive community services will include recreational, educational, medical and retail facilities, all supported by a high standard of infrastructure services.
The urban development has dedicated considerable resources to develop a comprehensive environmental initiative that includes a selection of strategies to support marine life, fishing reserves and professional fishermen in Bahrain. This has been done in close cooperation with the environmental authorities.
Mr Hejres concluded: "Diyar Al Muharraq will set a benchmark for how new communities should be developed and how they should look. Our aim is to ensure that the city will fulfil its promise to offer a new way of living, one which is ahead of its time and unlike any other Bahrain has seen until now."
-Ends-About Diyar Al MuharraqDiyar Al Muharraq is a unique masterplanned city for the people of Bahrain offering a range of housing options and quality lifestyle for all strata of society. Diyar Al Muharraq offers a cohesive mix of residential and commercial properties with the potential for around 30,000 dwellings housing over 100,000 people.
Situated on the northern shores of Muharraq, its amenities include over 40 kilometres of waterfront, together with sandy beaches - among the most extensive publicly accessible waterfront in the Kingdom - as well as all the elements one expects from a vibrant community, including schools, medical centres, parklands, sports facilities, and a wide selection of retail services including a shopping mall, showrooms, banks, and hotels all supported by a high standard of infrastructure services.
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Bahrain's city of the future offers quality housing for all
Bahrain, 25th June, 2008: Diyar Al Muharraq, one of the biggest mixed-use residential urban developments ever undertaken by the private sector in Bahrain, was launched today with a spectacular aerial viewing of the 12-square-kilometre site of the future city. The urban development's anticipated total investment value is BHD 1.2 billion (US$ 3.2 billion) with
Kuwait Finance House (KFH)Kuwait Finance House (KFH) as the major investor.
It is setting a benchmark in urban development in many ways, not least the physical scale and the expected number of planned properties standing at 30,000, which will house over 100,000 people on completion. Diyar Al Muharraq's long term strategy also includes a plan to support the Ministry of Housing's social housing programme.
Situated on the northern shores of Muharraq, the development will be gradually released, with the first facilities ready for use in 2010. The developer's vision is to create a unique city for the future, offering a choice of housing and a quality lifestyle for all. Diyar Al Muharraq is unique in offering an unprecedented lifestyle for people of all incomes to enjoy, as the pricing structure and selection of freehold properties is accessible to buyers from various income levels.
The masterplan maps out a self-contained city with many accessible, landscaped public spaces, incorporating around 40 kilometres of waterfront which includes sandy beaches and a marina. This will be among the largest publicly accessible waterfront in the Kingdom.
The development also includes numerous community spaces and facilities, abundant landscaping, a number of international 5-star hotels and a large shopping mall with extensive parking, business district and light logistic and support area.
Aaref Hejres, Chief Executive Officer of Diyar Al Muharraq, said: "Diyar Al Muharraq is signalling a new era and a proud future for Bahrain as it provides the stepping stones to meet all people's aspirations of property ownership. It will embody the best of what people expect and deserve in both a home and a community."
Mr Hejres continued: "As a Bahraini company, run by Bahrainis, we wanted to contribute to our community. This is the first time that a private developer in Bahrain has invested in a development that includes various levels of housing as one of many options, all of which will share the same high standard of living and amenities. Our goal is to be part of a concerted housing strategy for the Kingdom, and we are actively working towards securing close links with the relevant government departments."
Diyar Al Muharraq has invested time to develop a detailed masterplan with internationally renowned consultants in conjunction with local government agencies.
"An urban development of this scale required us to thoroughly research many aspects, including urban planning, amenities, infrastructure, and environmental measures among others. High level consultations have ensured that the necessary and appropriate approvals are in place. The result is a comprehensive and methodical plan to progress the many facets of Diyar Al Muharraq," he added.
The substantial development will provide huge employment opportunities for local people combined with significant potential for investment across a range of residential and commercial properties. The city's comprehensive community services will include recreational, educational, medical and retail facilities, all supported by a high standard of infrastructure services.
The urban development has dedicated considerable resources to develop a comprehensive environmental initiative that includes a selection of strategies to support marine life, fishing reserves and professional fishermen in Bahrain. This has been done in close cooperation with the environmental authorities.
Mr Hejres concluded: "Diyar Al Muharraq will set a benchmark for how new communities should be developed and how they should look. Our aim is to ensure that the city will fulfil its promise to offer a new way of living, one which is ahead of its time and unlike any other Bahrain has seen until now."
-Ends-About Diyar Al MuharraqDiyar Al Muharraq is a unique masterplanned city for the people of Bahrain offering a range of housing options and quality lifestyle for all strata of society. Diyar Al Muharraq offers a cohesive mix of residential and commercial properties with the potential for around 30,000 dwellings housing over 100,000 people.
Situated on the northern shores of Muharraq, its amenities include over 40 kilometres of waterfront, together with sandy beaches - among the most extensive publicly accessible waterfront in the Kingdom - as well as all the elements one expects from a vibrant community, including schools, medical centres, parklands, sports facilities, and a wide selection of retail services including a shopping mall, showrooms, banks, and hotels all supported by a high standard of infrastructure services.
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