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Located in one of Bahrain's emerging tourism destinations, the Al Areen Development, Downtown Al Areen has been conceived as the kingdom's first downtown district.
Developed by Gulf Holding Company (GHC), Downtown Al Areen is a singular mixed-use model of sustainable urban development.
The revolutionary new development is expected to galvanise the kingdom's tourism appeal and attract a wider range of visitors to the country and the region.
The project's healthy mix of residential, commercial and leisure components, which reflect a fusion of ultra-modern concepts and traditional Bahraini culture, have caught the attention of both investors and end-users.
Downtown Al Areen includes seven main components - Boulevard North , Boulevard South, High Street, Old Town, The Boardwalk, Park Lane and the Esplanade.
Officials say the areas will be completed in phases, with phases I and II expected to be ready by the end of December 2009, and phases III, IV and V by December 2010.
The luxury apartments range in size from studio to three-bedroom apartments.
GHC aims to introduce a selection of key world class services in the kingdom. The development offers world-class facilities that include restaurants, cafes, high-end retail shops, public gardens, a commercial centre and a polyclinic.
The project will also include a 'Town Square', the first of its kind in the region, in addition to a school, recreational facilities and retail outlets spread over 43,000 sq m.
Offsetting the mood created by these modern amenities is an Old Town replete with reminders of Bahrain's rich heritage and landscaped pedestrian parks and walkways that lend an air of tranquility to the development.
With a total investment of $550 million, the Downtown project covers an area of 260,000 sq m.
Its convenient location from Bahrain International Airport and the capital, Manama, along with proximity to places of tourist interest such as Al Areen Wildlife Park & Reserve, Banyan Tree Desert Spa & Resort, The Lost Paradise of Dilmun Water Park and Bahrain International Circuit have further enhanced its attractiveness.
"Downtown Al Areen will be to Bahrain what Champs-ƒlysŽes is to France or the Spanish Steps are to Rome," explained a company spokesman.
In addition to being a compelling investment proposition that will offer investors and shareholders returns on a sustained and long-term basis, the development boasts exclusivity, security and serenity.
These aspects of the project were highlighted in a recent sales and marketing campaign conducted by GHC.
Launched in November 2005 in Kuwait, GHC is a Sharia-compliant company which has been specially set up to offer cutting-edge real estate investment products and services.
"Core to its business model is the Signature Series which not only ensures GHC and its investors' higher premiums and returns, through the exclusivity quotient, but also a very strong differential," said a spokesman.
Today, through its Signature Series, the GHC boasts investments totaling $1.25 billion in three large-scale real estate developments in Bahrain, namely Villamar @ the Harbour, the Bahrain Financial Harbour and Downtown Al Areen at the Al Areen development.
