Bahrain property sector is booming says Capivest

MANAMA: Bahrain’s real estate is a growth market, even in this time of global financial turmoil, says a leading Islamic investment institution. With the lowest rate of inflation in the GCC and a real estate market by some estimates worth more than $5 billion, Bahrain’s property sector is seen by many as a market with huge potential. Capivest, one of the region’s emerging Islamic investment institutions, also unveiled a new luxury home project in Bahrain. Capivest launched the Saar Central, a brand new modern and luxurious villa community for the kingdom. The exclusive development will consist of 82 upscale villas built on an area of land measuring more than 65,000sq/m, offering a location advantage of being close to Manama and also to King Fahad Causeway. Saar Central is managed by Sakan Development Company, a real estate development company established by Capivest. The « limited edition » development is in the Saar region of Bahrain, a centrally located area that is home to some of Bahrain’s most prominent suburban neighbourhoods, said Capivest chief executive officer Nabil Hadi. « Capivest has long been committed to the growth and prosperity of the kingdom of Bahrain, and today’s announcement signifies a renewed effort to contribute to this country’s booming economy, » he said. Mr Hadi pointed out that Capivest’s overall growth trajectory involves the creation of a distinct real estate portfolio comprising high-quality projects, which are derived from a genuine understanding of the needs of different buyers. The spacious villas are designed specifically for luxurious family living, and have been constructed to take into account a family’s need for both privacy and the most modern amenities available. To maintain high quality standards of construction, Baker Wilkins & Smith was assigned as quantity surveyor for Saar Central, and Modern Architect was brought onboard from the beginning of the project as the engineering consultant to monitor construction developments. ‘The team of Bahraini architects who designed Saar Central villas captured the spirit and essence of Arab architecture in combination with prevailing modern undertones by incorporating some traditional elements such as arches, adding space and allowing for maximum light admission,’ Mr Hadi said. This unique combination of old and new distinguishes Saar Central villas among other existing developments in the market. « In turbulent economic times such as these, Capivest remains devoted to finding investment opportunities that will enhance the position of our key stakeholders, while creating a diverse investment portfolio that is both dynamic and robust, » he said. « We see the creation of Saar Central as an integral part of that philosophy. Saar Central is a unique real estate development in line with Capivest’s strategy to invest in a wide variety of growing sectors and industries, and a part of our efforts to improve both Bahrain’s and the wider region’s economy, » he said. gulf-daily-news