The Lagoon has handed over one of its first commercial units to Bahraini businessman Mr Waleed Khalil Kanoo, Managing Director – Planet Hollywood Bahrain, as the first phase of the development has successfully been completed.
Following Abu Dhabi Investment House's (ADIH) recent announcement of the completion of the commercial complex's first phase, newly-appointed chairman of the Lagoon, Saud Hassan Al Nusuf handed over the unit’s official address card to Mr. Kanoo, in the presence of ADIH Real Estate representative, Ahmed Habib.
Mr. Kanoo is set to use the outlet to bring internationally-renowned brand, Planet Hollywood Bahrain, to the Lagoon, which is located in Amwaj Islands, a 2.75 million square meter development in Muharraq. The outlet, one of 59 commercial units which are being handed over following the completion of phase one, will contribute to the lifestyle proposition that the Lagoon will offer its residents and visitors.
The remaining units are currently being handed over and are expected to be fully handed over to their owners by end of October, while work on the second and third phases of the project is ongoing and should be completed by the end of 2007.
On the occasion of presenting Mr. Kanoo with the unit’s address card at the Lagoon, Mr. Al Nusuf said, "We are very pleased to welcome Mr. Kanoo to the Lagoon as one of its first commercial property owners, and are confident that Planet Hollywood Bahrain will enrich the options available to our clients and visitors.
"The Lagoon's progress has been quite rapid and we are proud to have witnessed high customer demand. We will continue to ensure that we offer the most distinguished brands to meet the expectations of this demand," he said.
The master plan for the USD90 million Lagoon project was designed drawing reference from other internationally acclaimed retail and lifestyle properties such as London's Covent Garden and Sydney's Cockle Bay Wharf. The Lagoon consists of eight low rise sea-front blocks which will house restaurant and retail outlets to residents and visitors to Amwaj Islands.
The Lagoon also includes a 1 kilometre walkway that stretches around the perimeter of the development, as well as covered parking for customers.
Buildings 1, 2, 7 and 8 of the Lagoon have been completed in the first phase and are now ready for occupancy to commence by owners.
