KFCDC holds a groundbreaking ceremony marking the start of work on The Avenues Bahrain, a waterfront project.
Construction work has begun on The Avenues Bahrain, a $93 million waterfront project aimed at boosting the national economy and providing retail and leisure facilities, news outlets have reported.
The King Faisal Corniche Development Company (KFCDC) recently held a ground-breaking ceremony to mark the start of construction of the project, which is set to provide public access to 1.5 km stretch of coast, featuring amenities for sport, recreation, dining and shopping.
“The many projects that arise as a result of the Avenues Bahrain, would create many jobs for the locals, in addition to boosting family tourism immensely,” Shaikh Khalid bin Abdulla Al Khalifa, the Deputy Prime Minister of Bahrain, told the Bahrain News Agency.
The development is located off the King Faisal Highway with a creek separating it from Bahrain Bay. It is scheduled for opening in early 2016, and will have a total leasable area of around 38,000 sq. m (15% of the overall site), according to recent reports. Buildings will be single-storied, and parking will be provided for over 1,400 cars.
KFCDC, the company behind the project, is a venture between Bahraini private investors in partnership with Kuwaiti companies M H Alshaya and the Mabanee Corporation.