MORE than 60 per cent of the Porta Reef freehold three-tower residential project located on Bahrain's Reef Island has already been sold as part of phase one of the sales drive, announced Fawaz Ali Al Jowder, chairman of the project.
Porta Reef, a $90 million project, is located in the heart of Manama. Its unique water front consists of three buildings located on Reef Island in the Seef Area and aims to attract Bahrain's "high net worth individuals and GCC families" who are looking for a luxurious second home.
The $1.25 billion freehold development project will cover an area of 579,000 square metres. It is a joint venture between the Bahrain Government and Mouawad Group for Real Estate Development Company.
Mr Al Jowder said: "We have received excellent regional demand and response from clients to purchase property within the freehold Port Reef project.
"The prime location of Porta Reef is significant to the project and future residents - as it has a sea view and is close to the Bahrain Financial Harbour, the upcoming City Centre, Seef Mall and many other numerous commercial areas."
The second phase of sales for Porta Reef will begin in the beginning of the year and will include more residential units.
