2006-10-08

Amwaj Gateway Breaks Ground with Keller

Amwaj Gateway Company, the newly formed establishment set up for the development of the US$ 200 million luxury lifestyle project in Amwaj Islands, has awarded the pilling contract to Keller, a leading contracting company in Bahrain. "After conducting considerable due diligent over the last 2 months, we appointed the most qualified piling contractor to execute piling works. Keller has a proven track record within Bahrain and we are confident that the company will deliver a job that is in line with its excellent reputation," said Mohammed Al Tawash, Vice Chairman and President of RealCAPITA, and the Chairman of Amwaj Gateway Company.

"Through piling, the foundation is laid to deliver an end product that is extremely solid, while sustaining any potential hazard," Al Tawash added. Piling works are due to take place over a 18 weeks period, after which Amwaj Gateway Company will appoint a main contractor to execute the construction of the luxurious residential development that is due to be delivered in 2009.

"We are confident that Amwaj Gateway Project will turn out to be a marvelous development with a solid foundation, state of the art finishing and world class amenities," Al Tawash concluded.

Although work on the project was supposed to start in November of this year work actually started a month early which proves Amwaj Gateway Company dedication in keeping up with its deadline and delivering its promises.

"We are in the phase of signing agreements with different consultants that will benefit us with their intense knowledge and experience, another matter we´ll announce soon is the strategic alliance partners in this project both nationally or internationally.  And by the beginning of next year we shall commence with marketing the pre-developed units." Al-Tawash added

Amwaj Gateway, the unique RealCAPITA and Yara Investment Company development, is located by the entrance of Amwaj Islands covering a plot of land of approximately 360,000 square feet where it will be developed to have six 20 story towers that will accommodate over 550 different units. The development will house all the facilities and infrastructure that will come forefront of luxurious living such as condos, apartments, hotel, restaurants, commercial outlets, town houses, swimming pools, gymnasiums and private beach all within a gated community giving them the true "access to luxury" . It´s the only plot in Amwaj Islands to contain such a unique mix of facilities with unrestricted sea view and its own private beach.

The promoter 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 Affordable housing in Morocco (Real Maroc), establishment of RealLANDS, Residential Community in Jassrah (Real Gardens), The Wind Tower offices and Residential suites in Um Al-Hassam (Real Suites).