Bahrain: A NEW residential project, aimed at offering “affordable housing solutions”, has been launched in Juffair.
The 26-storey tower offers two-, three-bedroom apartments and two-bedroom duplex apartments with parking spaces and amenities.
The $30 million Nasmah Star is being developed by RMK Projects, a division of RM Kooheji and Sons and is expected to be completed by the second quarter of 2018.
The project is the company’s third in the Nasmah line of affordable residential projects, said chief executive Ishaq Kooheji, at a Press conference announcing the launch yesterday at Bahrain Conference Centre, Crowne Plaza.
“We needed a new star and we found one.
“This project was one of the most challenging for me and my team because of the progress of the columns and foundations placed before we even started the drawings.
“We bought the project with the plans but we took up the challenge and came up with a real star.
“RMK Projects believes in offering the best and most affordable projects.
“This project is one of the best in the Nasmah line and we kept our commitment to our customers.
“The tower offers 137 freehold residential units and three parking levels.
“Residents will benefit from a host of modern recreational amenities such as fully-equipped gym, swimming pool, steam room and sauna and a pool table.”
According to Mr Kooheji, four different apartment configurations are available, all named after celestial bodies in keeping with the “Star” theme.
The two-bedroom apartment units consist of the Pluto and Galaxy with a built-up area of 109sqm and 117sqm respectively.
The two-bedroom 138sqm duplex is called the Venus.
Starting from the 21st floor is the Jupiter, the 183sqm three-bedroom apartment.
Prices range from BD49,000 to BD60,000.
“We have already sold more than 50 per cent of the units and expect to sell the rest within a week.”
Mr Kooheji said the company focused on opening projects in Juffair due to it being a strategic place preferred by both foreign and Bahraini customers, due to its location and affordable prices.
“Juffair for us is a gold mine, like the English say,” Mr Kooheji told the GDN.
“The property is within walking distance of major supermarkets and the vibrant Juffair ‘food street’, with easy access to major highways.
“All apartments offer excellent city or sea views.
“Good thing about the location is it is already developed and not much construction will occur near it.
“We also help our customers by providing loans from the bank.”
Mr Kooheji said that the company had already signed an agreement with Khaleeji Commercial Bank for mortgage financing and more banks are expected to join soon.