GFH Commercial Bank (GFHCB), the wholly-owned onshore commercial banking subsidiary of Gulf Finance House B.S.C. (GFH) and the lead developers of Oryx Hills within the Al Areen development, have announced that 70 per cent of the freehold private residential community has been sold out, within weeks of its official opening of sales.
Oryx Hills was first unveiled at the region’s leading real estate and property exhibition, Cityscape 2005 in Dubai during September 17-19, and later showcased at the Bahrain International Property Exhibition (BIPE) during September 27-30 in Manama. Oryx Hills was also showcased at the Invest in Bahrain Forum on October 1 2005 and the recently held Ninth Kuwait Real-Estate Exhibition (REX2005).
Commenting on the response to the exclusive private master-planned residential community, Mr. Ebrahim Hussain, General Manager of GFHCB said: “Oryx Hills is a unique residential concept within Al Areen development offering a tranquil living ambience away from the city environs. The response to the residential project during Cityscape 2005, BIPE and Invest in Bahrain Forum was tremendous with 70 per cent of the development sold out in record time.”
“We continue to receive a stream of inquiries from prospective buyers and are confident of closing the sale of the rest of the residential development soon. Oryx Hills is an extension of the inspiring vision of Al Areen to provide quality luxurious living space in a natural ambience,” he said.
GFHCB had acquired the Oryx Hills land parcel recently and it will be developing this private residential component of the mixed-use Al Areen development in association with various partners. Oryx Hills will comprise an array of luxury villas with a splendid view of the eastern cliffs and a grand wadi within the Al Areen development.
Oryx Hills will comprise 106 villas in three different types with floor areas ranging from 750 to 1,200 square metres within a unique modern environment that combines traditional Arabic features with inspiring modern-day facilities and amenities. The built-up areas of the villas will range from 350 to 470 square metres and the exclusive residential community will be interconnected with wide roads.
The Oryx Hills villas will have modern designs with elements of Arabian architecture strongly incorporated into it. Natural materials will be extensively used in the construction of the villas, which will be located within a landscaped environment complete with pedestrian pathways in a lush green country-side setting. A distinctive feature of Oryx Hills will be its layout in line with the natural contours of the land with charmingly asymmetrical streets reminiscent of old Arabian cities.
“We have a healthy mix of investors in Oryx Hills, which created a stir at both the exhibitions for the quality of life it offers and for the exclusive ambience of Al Areen development. We are confident that Oryx Hills is a one-of-its-kind offer in the residential property sector of the Kingdom of Bahrain, offering a superior living environment,” Mr. Hussain said.
He said the quick uptake of residential units in Oryx Hills was also a reflection of the robust demand scenario in the Kingdom’s residential property market. “Being a real-estate-focused bank, we are also very proud to contribute to the development of the residential property sector of the Kingdom of Bahrain.” Mr. Hussain said.
Oryx Hills also has a distinct advantage of being within the mixed-use integrated Al Areen development which is being developed as a tranquil retreat from the busy city environs adjacent to the Al Areen Wildlife Sanctuary. Oryx Hills residents will also benefit from a blend of amenities offered within the Al Areen development including the Banyan Tree Desert Spa & Resort, which will offer a range of wellness packages, a water park, leisure, retail and hospitality facilities etc.
