RealCAPITA signs agreement with Saudi-based Al-Khobar Eng. and Consulting to develop US$50 million, Real Gardens.

Real estate developer, RealCAPITA, awarded yesterday a consulting and project management contract to Al-Khubar Engineering and Consulting Center (AECC) to design the new luxurious US$50 million development in Jassrash area named Real Gardens.
"The signing of this contract with AECC and our strategic partnership is yet another example of how we are continuing to rapidly implement the vision of creating an exclusive residential complex in the Jassrah area" said Mohammed Al-Tawash Vice Chairman and President of RealCAPITA.

Real Gardens, the US$50 million lavish residential project, is targeted to accommodate a residential compound that will house a residential compound with villas on a covering 820,000 square foot of land. This provides an advantage of having a main entrance and secondary service entrance, 2 car parks (per villa) and an area for private terrace, gardens and walkways, with an estimated 30,000 square feet of that land dedicated to recreational facilities. The compound will be surrounded by fourteen plots at around 2,000 square meters each of land ideal for upper market private villas. The villas developed there will be of exquisite appeal & timeless beauty and will enhance the image of Al-Jassrah as a destination for upper market residents.

Mohammed Abu Al-Noor, chairman of AECC stated "This will be one of the most distinguished housing projects. With its prime location and green area it actually has the elements that will make this development a sound investment such as its secure location, its accessibility to main roads and closeness to the Saudi causeway".
Work on the site will commence during November and the final product will be delivered in the last quarter of 2008.
The developer of the project, RealCAPITA, is the alternatively new real estate investment firm based in Bahrain. With an authorized capital of US$200 million, and a paid up capital of US$54 million RealCAPITA is considered one of the largest institutions of its kind in the region. With it only starting in February 2006, RealCAPITA is already undergoing major projects such as Amwaj Gateway, Affordable housing in Morocco (Real Maroc), establishment of RealLANDS, Residential Towers in Um Al-Hassam (Real Suites) and The Wind Tower offices