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Building on its recent success throughout the region, CapitaLand, the Asian real estate developer of Raffles City Bahrain, gave the first public showcasing of the residential apartments of the highly anticipated new mixed development to the Bahraini public during Property Arabia.
Located on 43,000 square metres of prime waterfront property within the greater Bahrain Bay development, Raffles City Bahrain represents the first truly integrated development in the GCC region and is the first Raffles City-branded development outside Asia.
The launch of public sales builds on the hugely successful private sales initiative for the apartments in one of the residential towers which were launched in June this year. In three weeks, it closed with approximately 80 per cent of the available units booked.
The average sale price achieved for the units was higher than that of other high quality residential apartments in Bahrain, which was a testament of the premium placed on the preferred location of Raffles City Bahrain and the premium quality of its residential apartments as well as an endorsement of CapitaLand's real estate delivery track record.
"The choice to develop the internationally recognised Raffles City brand in Manama was built on a number of favourable factors, including the attractive Bahraini investment climate, the country's sound economic fundamentals and its burgeoning hospitality industry," said CapitaLand GCC Holdings Pte Ltd Wong Heang Fine CEO, pictured above. "Furthermore, our entrance into the rest of the GCC has been eased as we now have an established platform to display our track record of delivering quality real estate products and services to the region. The success we have seen thus far in the GCC has been recognised regionally with the prestigious CNBC Arabian Property Award in the category of 'Best Property, Bahrain'."
