News

  • Written by Kenzel Obial


Known for being one of the best destinations of the Bahraini kingdom, Seef is a vibrant neighborhood located in the northern part of Manama, Bahrain’s capital. It is known for housing some of the best touristic destinations and entertainment attractions in the island kingdom, including waterfront resorts, hotels, and retail destinations, as well as being one of the freehold areas (areas where non-Bahraini citizens are allowed to own properties) in Bahrain.

With its position on the northern coastline of the Kingdom of Bahrain, the rental prices in Seef is considered one of the most expensive in Bahrain. As a matter of fact, renting a furnished one-bedroom apartment in Seef, for example, can cost an average of 800 BHD monthly. Such a position among other areas in Bahrain is further supported by the new projects that are being developed and finished in Seef, the most recent of which being Landmark Cityview residential tower.

Developed by the Bahrain-based developer City View Real Estate Development, Landmark Cityview is a residential tower that is situated across the road from Dana Mall, one of Seef’s top retail destinations and landmarks. The tower consists of 25 stories, the top 20 of which are residential that comprise 88 residential units, while the remaining 5 stories are commercial. In addition to the residential units, the tower also features high-end amenities and facilities that include a swimming pool, a fitness gym, and a health club.

Aside from its location and high potential return on investment, Landmark Cityview is considered a major landmark for the Bahraini property market for reasons related to its development history which spans around 9 years; the residential tower project was originally launched back in 2009. However, its development has been put on hold in 2011 due to the socioeconomic turbulence that took place back then in the Bahraini kingdom and the whole Gulf Cooperation Council (GCC) region overall.

Five years later, in 2016, the tower’s development has been restarted thanks to Ithmaar Holding, a renowned investment firm that is listed on the stock markets of Bahrain, Kuwait, and UAE. Through Ithmaar Bank – one of its subsidiaries – Ithmaar Holding has provided the funds needed for the project’s construction to be completed and ended up being the shareholder of 51% of the tower. Along with Marina West, Amwaj Gateway, Juffair Views, and Tilal Sunset, and was one of five stalled real estate project that were being reviewed at the time by the stalled projects resettlement committee.

So how does that constitute a significant benchmark for the Kingdom of Bahrain’s property market? With its recently announced completion, Landmark Cityview has become the first stalled project to be revived internally through Bahrain-based entities without any external intervention.

This reflects the nurtured potential ability of the island kingdom’s businesses and government to push forward its different economic industries, specially its real estate market, which comes in line with many changes the Bahraini property market has been witnessing and going through lately, the most remarkable of which being the launch of its Real Estate Regulation Authority (RERA) which has become responsible of supervising and regulating the real estate industry since March 2018.

Politics

Scott Morrison at Australia-Israel Chamber of Commerce

QUESTION: I suppose one question I'll ask is about the role of social media, YouTube, Facebook. And the sort of thought process that we’re having as a nation of how we can create that sort of societ...

Scott Morrison - avatar Scott Morrison

Delivering the rail links Western Sydney needs

The Morrison and Berejiklian Governments will ensure the Western Sydney International (Nancy Bird Walton) Airport has a metro rail line in time for its opening.   The Prime Minister said his Gover...

Scott Morrison - avatar Scott Morrison

Nancy-Bird Walton immortalised at Western Sydney Airport

Australia’s biggest aviation project will honour one of the nation’s trailblazing stars of the sky.   The $5.3 billion Western Sydney Airport will officially become Western Sydney International (N...

Scott Morrison - avatar Scott Morrison

Business News

The Dollar Shave Club of contact lenses is now available to Aussie contact lens wearers

SYDNEY, AUSTRALIA — Finally, an Australian-made and owned contact lens business has launched direct to consumers, making the lives of thousands of Australians easier and more affordable with just a ...

Georgie Zonneveld - avatar Georgie Zonneveld

Psychologist’s 8 tactics to build resilience in the workplace

A clinical psychologist from Wesley Hospital has identified low resilience as a major factor impacting the mental and physical wellbeing of employees. He is calling for more awareness around the nee...

Sophie Harrison - avatar Sophie Harrison

Intense Growth As Car Next Door Launch Capital Raise

Releasing internal revenue figures for the first time, Car Next Door has achieved marketplace revenue of $10m last year and is on track to almost double that again in 2019 as it marks the start of a...

Car Next Door - avatar Car Next Door

Travel

The Gold Coast is famous for fun but it is also famous for horrible traffic issues

The Gold Coast is a great place for a holiday but there are problems that tourists need to be aware of. The Gold Coast airport is a busy place. Thousands of visitors arrive every day from around the ...

Holiday Centre - avatar Holiday Centre

Older generation Australians are embracing solo travel

Allianz predicts a rise in solo travel in 2019, revealing those most likely to ‘go -it-alone’ among the 50+ age group   The popular ‘solo travel’ trend is predicted to continue in 2019 with mor...

Media Release - avatar Media Release

Fun Things You Must Do In Perth

Perth: Sun, sand and 19 beaches might seem to sum up the city, but not quite. The sunniest capital city in Australia offers so much more for you to do. Regardless of what your idea of fun is, you wi...

News Company - avatar News Company