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GFH launches $3bn island city.

Asia Africa Intelligence Wire

| June 01, 2005 | COPYRIGHT 2005 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Gulf Construction)

Manama Land reclamation for Bahrain's ambitious multi-billion-dollar freehold island city project - Two Seas - will begin shortly and construction on Phase 1 of the project is expected to commence by the year end, according to its developers

Promoted by Gulf Finance House (GFH), one of the leading Islamic investment banks in the Middle East, and Bahrain-based Dala Development Properties Management Company (Dala Development Company) - the 11 million sq m freehold island city project, will be built on a man-made island located northeast of Bahrain

"Two Seas is a prime waterfront property development that will redefine the concept of luxury waterfront living in the region," said GFH chief executive officer Esam Janahi

"The project, which will be developed in three phases, has immense investment potential and will be a vibrant and exclusive waterfront community comprising residential clusters, luxury hotels, schools, hospitals, high-street retail opportunities, promenades, and other modern amenities." "Additionally, in keeping with its positioning, Two Seas will also host a variety of marine and nautical-related facilities, including quays, berthing services, and water ...

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