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Orchid Developers’ reputation for delivering outstanding projects in unique designs definitely precedes them as 50 per cent of the units for their upcoming Spiral Orchid Residential Tower have been sold and it hasn’t even been developed yet.
Already, 95 per cent of the piling work has been completed and its developers believe it will be a spectacular sight to behold in two-and-a-half years, when it’s expected to be finished.
Dr Bashar Ahmadi, chief executive of Orchid Developers, said: “What makes this property unique and attracts buyers is firstly its location. Secondly, they are drawn to the building’s design and beach access and third, they trust our records. By records, what I mean is that we have delivered projects and made people happy. These people have also made money with a return of 12 to 14 per cent. That is why people trust us.”
The BD2.5 million freehold project, which is also open to expatriate investors, features more than 300 residential units including studios, one bedroom, two bedroom and penthouses. Occupants will enjoy beach access and the tower is located nearby City Centre Bahrain as well as an assortment of restaurants. In terms of amenities, there will be mini golf and mini indoor and outdoor basketball courts, bowling, billiards, indoor and outdoor swimming, a gym, a sauna and steam room, Jacuzzi and a Turkish bath, a coffee shop and restaurant as well as a cinema.
The studios within the tower are currently sold out. Dr Bashar added: “Our studios start at about 42sqm and we sold them at BD30,000 which is very cheap. We have sold out on studios and have a waiting list. We have almost sold out of our one bedroom apartments and we are sold out of our penthouses which are 300sqm each. Each penthouse includes a big balcony, panoramic views and the elevator takes you straight to your penthouse.
“The difference in my project from the rest is that you will be living in the middle of town but not in the congested area of town. There are many buildings near City Centre making it congested with traffic and noisy. Here, you are secluded and it’s only a two minute drive.”
Updates on the tower which enfolds a total built-up area of 64,000sqm, were unveiled to members of the media during a press conference staged at Water Garden City by its master developers Albilad Real Estate Investment Co.
The 41-storey Sprial Orchid Residence Tower will be situated there and Zeyad Abdullatif Janahi, general manager of Albilad Real Estate Investment Co believes this is the best time to buy. He said: “There isn’t a better time to buy an apartment than now because Dr Bashar has the financing arrangement with Bank of Bahrain and Kuwait (BBK) and the interest rate is very low. So everyone that takes finance here really makes a deal.
“We believe that this project constitutes a successful partnership between the main developer and sub-developer. We confirm that the success of Orchid in marketing the project is in turn a success for the Water Garden City development.
“Also, a third of the public area has been left in land for a water surface to create an environment suitable for investors, tourists and visitors in general. And as the site is the most important feature of the real estate project, we are proud that we have one of the most distinguished sites in Bahrain.”
The Water Garden City development contains many promising opportunities for those who want to invest in real estate and Albilad is proud of having the largest number of plots of land classified as multi-storey investment lands with homogeneous building ratios that provide the largest possible return for developers.
