The $2.5-billion Bahrain Bay development has entered a key phase with more than 86 per cent of plots sold, the infrastructure complete and projects of third-party developers nearing completion, it has emerged.
Bahrain Bay chief executive Gagan Suri told the 2016 Bahrain Bay Business Forum at the Four Seasons Hotel Bahrain Bay that the developer has spent $230 million and another $50 million over the last few years on the project to complete infrastructure and enabling works as well as landscaping.
A joint venture between Arcapita and a Bahrain-based investment group, the project has seen growth and expansion during the past year, he added.
“Bahrain Bay continues to invite investor interest as the best address for business, hospitality and residential developments.”
Many third-party developers from Bahrain, the GCC and India were present for the event.