Manama: Naseej announced it has signed an agreement to aquire Cielo Tower – a 24-storey, luxury residential tower in Juffair.
Located in a newly developed part of Juffair, the apartment block is also accessible from the Shaikh Isa bin Salman main highway that connects to the Prince Khalifa bin Salman Bridge going to Hidd. The tower is built on an area of 754sqm and has a built-up area of more than 12,533sqm.
It includes 73 units of one- and two-bedroom apartments offered on a rental basis. The building’s amenities include a gym, rooftop pool and club house.
The apartment block is within walking distance of Juffair’s main retail centres and shopping plazas and will tap into significant demand for residential spaces in the area.
The agreement was signed by Naseej general manager Ahmed Al Hammadi and Alghanah Contracting Bahrain executive director Mohamed Alghanah in the presence of other senior management officials at Naseej’s headquarters in Bahrain Financial Harbour.
Mr Al Hammadi said the deal comes in line with Naseej’s new initiatives for acquiring high-end, income-generating properties in Bahrain that present excellent yields backed by high occupancy rates.
“We believe this deal is a positive step towards strengthening our financial position and diversifying our investment portfolio,” he added.
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