porta reef sells 50% of its units
fifty per cent of the Porta Reef freehold 3-tower residential project, located on Reef Island – Bahrain, has already been sold, announced Mr Fawaz Ali Al Jowder, Chairman of the project, which includes the sale of a whole tower and numerous units in 2 towers.
Porta Reef, a US $90 million project, is part of the most recent real estate projects of ADIH. Strategically located in the heart of Manama, this prestigious project with the unique water front consists of three buildings located on the exclusive and luxurious Reef Island in the Seef Area and aims to attract Bahrain’s high net worth individuals and GCC families who are looking for a luxurious second home. The US$1.25 billion freehold development project will cover an area of 579,000 square meters. It is a joint venture between the Bahrain Government and Mouawad Group for Real Estate Development Company.
Commenting on this excellent demand, Mr Al Jowder said ‘we have received excellent demand from clients to buy units into the freehold Port Reef project, which is being developed by Abu Dhabi Investment House on Reef Island in Bahrain’.
He added ‘the prime location of Porta Reef is significant to the project and future residents – as it has a sea view and very close the city centre.’
The second phase of sales for Porta Reef will begin within the coming few months and this phase includes more residential units all of which are being constructed based on international high quality standards.
