Work begins on Marassi project
MANAMA: Ground was broken yesterday on a BD40 million residential development within the $3 billion Marassi Al Bahrain mixed-use mega project.
Marassi Shores Residences is the second residential component of the project’s first phase which in itself has a development value of $1.2bn.
This phase will see a total of 480 seafront apartments come up along with the Marassi Galleria shopping complex and two luxury hotels – The Address Marassi Al Bahrain with 110 rooms and Vida Marassi Al Bahrain with 160 rooms.
Both will be operated by UAE’s Emaar Hospitality Group.
Situated on a 2-km-long beachfront promenade, Marassi Shores Residences comprises 289 studio, one-, two- and three-bedroom apartments, as well as penthouses, staggered across 11 storeys in a U-shaped building.
The developer Eagle Hills Bahrain announced about 50 per cent of the apartments have already been sold off-plan.
The ground-breaking also followed the announcement that the construction works contract for Marassi Residences had been awarded to Bahraini home-grown contractor Dadabhai Construction.
Declining to disclose the contract value, Eagle Hills Bahrain managing director Dr Maher Al Shaer and Dadabhai Group managing director Shabeer Dadabhai told the GDN that the award followed a competitive tender process.
Eagle Hills Bahrain is a 60:40 joint venture between Abu Dhabi-based developer Eagle Hills and Diyar Al Muharraq.
“The construction of Marassi Shores Residences is due for completion in the third quarter of 2019, and we have absolute confidence in Dadabhai Construction’s ability to deliver this unique property on time and up to our development standards,” said Dr Al Shaer.
Mr Dadabhai said with more than 40 years of experience executing landmark projects across the country, the construction firm was confident of completing the project within the time frame and in line with international quality standards.
Dadabhai Construction’s chief executive Ajith Kumar said piling work had already begun and up to 900 workers will be working on-site to ensure smooth and timely execution.
Eagle Hills Bahrain general manager Daniel Hammond said the residents of Marassi Shores Residences will enjoy exclusive amenities including a gym, swimming pools and a children’s play area, within its own central leisure complex.
It will also feature high-quality finishes, in addition to large balconies and terraces with sea and lush green park views, he added.
“With key upcoming announcements of other developments within Marassi Al Bahrain, the seafront property is poised to become a residential, tourist and hospitality attraction of choice for the region.”
Situated on the eastern shores of the Diyar Al Muharraq master-planned island city, Marassi Al Bahrain comprises 1.29 million sqm of built-up space on an 875,000sqm site.
Upon completion, Marassi Al Bahrain will be home to 22,000 residents with a total of 6,000 apartments and a total retail space of 250,000 sqm.
Source: http://www.gdnonline.com/Details/249717/Work-begins-on-Marassi-project
