Manama: Eagle Hills, an Abu Dhabi-based private real estate investment company and developer, yesterday announced the launch of its official operational in-country office in Bahrain.
In November last year, the company signed a joint venture agreement with Diyar Al Muharraq to roll out its first project in Bahrain – Marassi Al Bahrain.
Spread over 864,000sqm, Marassi Al Bahrain is billed as “a new and unique smart city for the future, which combines tourism, retail, hospitality and residential spaces in Bahrain”.
The project will feature a 190,000 sqm retail and entertainment destination, with The Address Hotels + Resorts and Vida Hotels and Resorts offering access to a 1km long beach and a waterfront promenade, said a statement by Eagle Hills.
Upon completion, Marassi Al Bahrain will be home to 22,000 residents, and provide business space to employ over 1,200 people, the
statement added.
Eagle Hills board member Mohamed Alabbar said the company considers Bahrain a high potential market in the Middle East and North Africa region.
“Marassi Al Bahrain will undoubtedly create a sustained revenue stream which will serve in revitalising the Bahraini economy and support the government in achieving its Economic Vision 2030,” he said.
“We anticipate that it will become a key touristic destination in the GCC which will create thousands of new jobs, promote new sectors including retail, hospitality and leisure, and drive inward investments to the
country,” he added.
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