Decorators, part of Promoseven Holdings, to oversee construction of eight stand-alone villas and 34 semi-detached homes at El Mercado Village
First Bahrain Real Estate Development Company has said that it has appointed Decorators, a member of Promoseven Holdings, to construct residential villas for the El Mercado Village project in the Janabiya area.
Built adjacent to Bahrain’s El Mercado neighbourhood retail centre, the project consists of 42 villas that will come in two types – eight premium, stand-alone villas; and 34 semi-detached homes, the developer said in a statement.
“We are very excited to be working with Decorators who are set to emerge as one of the leading contractors in the country. The El Mercado Village will be a major milestone for both companies,” said Amin Al Arrayed, CEO of First Bahrain.
The news comes in the wake of the finalising of a financing agreement with Kuwait Finance House for the second phase of the $30 million development, which is being designed by Sanad Engineering.
Located just off the Sheikh Isa Bin Salman Highway, near the Saudi Causeway, the project will be home to a number of retail and F&B outlets, the developer added.
Decorators recently launched Bahrain’s first floating hotel – C-Hotel – which is located on the Manama corniche. The contractor has also recently acquired an Italy-based factory which will allow it to fabricate home finishings.
“We look forward to working with First Bahrain on this project, given their strong reputation as a real estate company which delivers on its promises,” said Akram Miknas, chairman of Promoseven Holdings.
Established in Kuwait in 2004, First Bahrain operates out of Bahrain and Kuwait and seeks to “implement projects across the GCC in accordance with Sharia principles.”