MANAMA: First Bahrain Real Estate Development Company has appointed Alghanah Group for the construction of its $21.5 million retail project in Seef.
The new open-air commercial project kicks off the activation of First Bahrain’s holdings in Seef District, building on the success of the mixed-use retail and residential project El Mercado in Janabiyah.
The development is the first phase of a project which will feature over 79,000 sqft of premium retail space, built on 114,000 sqft of land just across the street from the City Centre Bahrain.
Located along Road 2819, between a group of new residential towers, the mall will provide up to 38 units ranging in size from 300 to 2,300 sqft of leasable area.
Designed to serve the surrounding residential area, the site will feature a mix of cafes, restaurants, entertainment and retail shops that will offer a unique experience through a mix of drive-up and drive-thru outlets featuring terrace views and outdoor seating.
“We chose the Alghanah Group because of their enduring reputation for excellence and their diverse project portfolio,” said First Bahrain chief executive Omar Altemiemy.
“This signature project in a high traffic location is key to our reputation so we needed a contractor with whom we could rely upon to implement our vision. We are certain they are the perfect partners to bring this project to life.”
Leasing inquiries for the units are now being received by the sales team at First Bahrain.
Alghanah Group managing director Mohamed Alghanah said project construction has already begun with completion scheduled for Q3-2020.
“Our approach will deliver a unique project with services that will hopefully complement the area,” he added.
avinash@gdn.com.bh
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