Al Hidaya Wins US$25 Million Deal to Build Villas at RealGARDENS

RealCAPITA, has awarded the main contract for the construction of the US$25 million high-end villa community of RealGARDNES in AlJasra.

´We are pleased to announce today the second joint venture with AlHidaya constructions, reflecting the common vision and the full commitment of both sides to develop at the highest quality and standard´ said Mr. Mohammed AlTawash, Vice Chairman and the President of RealCAPITA.

´RealGARDENS project is one of RealCAPITA signature projects, which will change the face of urban North West region of Bahrain, as it is considered one of the finest residential area in Bahrain, not to mention the proximity to King Fahad Causeway and the linked network of highways leading to all regions in Bahrian´ Mr. AlTawash stated. ´We will work to create an integrated society combines up market housing units and facilities and vast green spaces, covering most of the project area and within an exclusive gated society to ensure the security and privacy´ he added.

´We have recently completed all permits for the construction and sales by the component authorities, besides getting the selling license of the residential units within the complex in Bahrain, and it will be the first complex in Bahrain that residents can own their own houses. In addition the sales will begin before the end of this year´ he added.

´Once again, we are honored to cooperate with RealCAPITA as one of the major corporate development in the region, where we experienced the commitment to quality and professional, hoping to extend this partnership to include other projects in the future´ Mr. Yousif AlSayed Hashim, the General Manager of AlHidaya Constructions.

RealGARDENS consists of 47 luxury villas with four different design types: Spanish, Moroccan, Tunisian, and Tuscan. The project is spread over an area of 480,000 square feet, and a total built up area of 258,000 square feet. It also includes a number of common facilities such as: golf and tennis club, health and social center, plus the artificial lake that covers 70% of the project area. The construction will be finalized in a period of 21 months.

The real estate developer RealCAPITA, is one of the companies specialized in real estate investment, aspirant to expand regionally at the level of the Middle East and North Africa since the establishment in February, 2006 with a paid up capital US$ 56.16 million.