Work on $185mn expansion of King Faisal Corniche and The Avenues project in Bahrain set for early 2024 completion
Project will feature a complex building, hotel apartments, and a car park spread across 103,000sqm
Work on the second phase of the King Faisal Corniche and The Avenues – Bahrain project is progressing steadily, with completion set for the second half of 2024, it has been announced.
According to a BNA report, the project – which spans over a 103,000sqm area – will feature a complex building, hotel apartments, and a car park, as well as green spaces, once completed.
Municipalities and Agriculture Minister Wael bin Nasser Al Mubarak visited the project site and highlighted the Bahraini government’s desire to promote development projects that will contribute towards achieving Bahrain’s Economic Vision 2030 via partnerships with the private sector.
The report added that the minister was briefed on the implementation stages of the project, which is aimed at providing a variety of key amenities, along with advanced services and facilities that will serve Bahrain’s citizens and residents.
Approximately US$185 million is being invested into the project, Al Mubarak said during his visit.
“The financial contribution from the developer company is worth US$13.26 million to develop the road network surrounding the project, and a total benefit amount of about US$87.5 million,” the minister said, and added that the expansion will motivate the economic sector in the Kingdom and support the tourism sector.
The development is a major retail and tourism destination for Bahrain and aims to revive tourism and trade in the Kingdom. It is the first of its kind in the country and is being developed along Bahrain Bay in Manama.
