|Real Estate News|
Ahad Holdings announced the completion of piling works of its $100m Le Reef project.
The piling contract had been awarded to Bahrain Foundation Construction Company (BFCC) by the newly formed holding company.
Commenting on the steady progress of the development, Mr. Hamid Nishat, Chairman and Chief Executive Officer, Ahad Holdings, said: ‘We are happy that the piling work of our prestigious freehold residential property on Reef Island has been successfully completed and the project is moving ahead on schedule. Being our maiden realty venture, we have paid special attention in selecting the most qualified partners to ensure that the quality and design matches up to the highest international standards. Our goal is to offer our esteemed clients the best realty investment products and services in the region.’
Having logged around 16,000 accident free man-hours, the Le Reef project is scheduled for completion by the end of 2010. Mr. Nishat expressed confidence that the other partners would also conclude all works as per the original schedule. They include construction contractor Al Shorooq Contracting Company, interior design consultant MSCEB, and civil consultants Al Jazeera, which is supporting Ahad Holdings’ project team. Le Reef is being marketed by Landmark Bahrain.
Conceptualised by a team of international architects, Le Reef is coming up on an 11,209 sq mt plot and will have a total built up area of 30,726 sq m. Its 38m high, 10-storeyed identical towers will offer multiple choice apartment designs based on Western and Eastern themes and an exclusive penthouse in each tower boasting a 360-degree sea view.
Le Reef will be located in the community situated on the Reef Island and will comprise, apart from the two exclusive penthouses, a total of 142 one- to three-bedroom apartments, with the ground floor apartments having their own private gardens/terraces. Le Reef’s distinguishing feature is that every room in every apartment has a sea or lagoon view. Facilities include infinity swimming pools for the penthouses, an elevated swimming pool, sauna, gymnasium, coffee lounge and external board-walk, apart from an array of recreational amenities. The complex will provide 239 parking spaces.
BFCC, a leading construction company with an impressive portfolio of some of Bahrain’s most prominent projects, was established in 1999 by a group of leading Bahraini businessmen who have been associated with the real estate sector and construction industry in the region in various capacities. Its team of engineers and technicians has wide experience in piling work across Europe and Asia.