Khalid Najibi, chairman of Bahrain Marina Development, said the agreements signify a pivotal commencement for project construction as part of a collective goal to transform the coastal area into an unparalleled tourist, commercial and residential enclave in Manama, the capital city.
The development will offer a blend of living, shopping, scenic beaches and diverse watersports activities centred on and around a 235-berth marina. There will be nearly 200 retail outlets; 304 hotel rooms; a large beach resort area; 274 freehold residences; and a multi-storey tower offering luxurious sea view apartments.
The project will help to bolster the national economy, generating employment opportunities and fostering the development of the tourism and commercial sectors. It additionally aligns with the broader goal outlined in the tourism strategy for 2022-2026.
Khalid Najibi emphasised that the project is considered a promising investment that achieves attractive returns for its investors and is set to create both direct and indirect job opportunities for local talents across various sectors, encompassing commerce, tourism and investments.