Durrat Al Bahrain Company and Al Khaleej Development Company (Tameer) announced that they signed a Memorandum of Understanding for the development of marina for Durrat Al Bahrain, which is the biggest residential investment project in the Kingdom of Bahrain. The proposed marina will be located to the east of the golf course covering an area of 600,000 square metres. The development period will last for 2 years from the date of the agreement. The development of the project will proceed in due course.
The announcement was made on the sidelines of Cityscape, which is held in Dubai. The Memorandum of Understanding was signed by Mr. Samir Yacoob Al Nafisi, Tameer Board Chairman and Mr. Abdul Hakim Al Khayat, Durrat Al Bahrain Board Chairman.
On this occasion, Mr. Samir Yacoob Al Nafisi, Tameer Board Chairman said he was pleased with signing this agreement which involves the development of the most advanced marina in the Arabian Gulf region with berthing facilities for around 400 boats. The resort is expected to have the best restaurants and coffee-shops in the region in addition to many commercial and investment buildings.
Meanwhile, Mr. Abdul Hakim Al Khayat praised the significant co-operation among investment companies in the region and the rapid rate of progress in the Durrat Al Bahrain Project. He underlined that the signature of the memorandum was an indication of the Company's success in attracting local and overseas investments, as the project enjoys a good reputation. Moreover, this project has the advantage of the diversification of residential, tourist and sports investments.
The signing ceremony was attended from Durrat Al Bahrain Company by Mr. Jassim Al Jowdar, Chief Executive, Mr. Mahmood Abdul Rahman, General Manager of the Technical Department and Mr. Abdul Razaq Jawahery, Board member. It was attended from Tameer by Mr. Ahmed Al Qattan, Deputy Chairman and Managing Director.
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