The establishment of Bahrain operations of UAE-based Asteco Property Management and its wide service offering for investors, home buyers and tenants is adding a new dimension to the depth of support services for Bahrain’s rapidly expanding real estate environment, and is being showcased through its role as exclusive sales and leasing agency for Marina West, says Ahmed Abubaker Janahi, Chairman and Chief Executive Officer of AAJ Holdings Company, the company representing Marina West.
According to Mr Janahi, Asteco brings to the Kingdom its long established experience across the region in large-scale infrastructural, commercial and residential developments and this is creating a new level of professional services essential to adequately complement Bahrain’s flourishing real estate sector.
“With its solid reputation and proven success, Asteco brings to Bahrain a sophisticated range of high quality services for real estate investors, home buyers and commercial and residential tenants in the areas of property sales and leasing, retail leasing, investment sales consultancy and development, and these are being showcased through Asteco’s involvement in Marina West,” said Mr Janahi
Asteco’s entry to the Bahrain market and its role in marketing Marina West’s more than 1,280 freehold luxury apartments and penthouse suites - which form the housing component of Bahrain’s first residential beachfront community to be located on the west coast - is raising the bar on key ancillary real estate services and is set to be the first of more future collaborative efforts.
Commenting on its presence in the Kingdom, Andrew Chambers, Managing Director of Asteco Property Services Company, said: “Based on our experience across the region, we see a differentiated proposition in Bahrain and in Marina West in particular, and this includes a favourable pricing advantage over other markets in the region. The Kingdom’s real estate sector is supported further by political stability, a legal environment providing freehold property rights for all, a growing economy and unique attractions of heritage, tradition, hospitality and acceptance.
“As a result of these factors, I envision strong market growth of this sector with increasing demand primarily from local and GCC investors. From an investor perspective, I foresee high occupancy in property that is of high quality and which is uniquely designed – as is the case with Marina West - and I anticipate strong prospects for healthy investment returns.”
The wider benefits of increasing investment in residential and commercial real estate is that it helps fuel the growth of the economy and this forms part of the vision of AAJ Holdings which is dedicated to developing the real estate sector as a framework for economic growth.
As Bahrain’s first and unique gated residential beachfront community, Marina West will be set in tranquil and idyllic coastal surroundings on the Kingdom’s west coast. As well as breathtaking views, residents will be able to enjoy comprehensive recreational facilities and entertainment as well as the convenience of an extensive and high quality retail offering.
Marina West’s 1, 2, 3 and 4 bedroom freehold apartments, duplexes, simplexes and penthouse suites begin at a price of BD 47,000 with floor space ranging in size from 92 to 447 square metres.
