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The Address at Marassi Al Bahrain

Owner Diyar Al Muharraq WLL
Eagle Hills
Estimated Value US$ 250,000,000
Sector Infrastructure
 Sub Sector Mixed-Use Development
Country Bahrain
 City Muharraq
Capacity 110 hotel rooms and 130 apartments Feasibility Start Date Q2-2015
Status FEED/Design Project End Date Q4-2018
Owner Diyar Al Muharraq WLL
Eagle Hills
Estimated Value US$ 250,000,000
Sector Infrastructure
Sub Sector Mixed-Use Development
City Muharraq
Country Bahrain
Capacity 110 hotel rooms and 130 apartments
Feasibility Start Date Q2-2015
Status FEED/Design
Project End Date Q4-2018


Project Overview


Background

Eagle Hills is building a mixed-use leisure development known as “The Address Hotel” and “The Address Residences”. The project is part of the Marassi Al Bahrain development and it will be located on the northern shores of Diyar Al Muharraq, Bahrain.


Scope of Work

The Address Marassi Al Bahrain hotel will feature 110 rooms including 17 suites, with advanced lifestyle facilities including seafront restaurants and lounges, meeting facilities, spa and wellness centre and an outdoor pool.

There will be 130 apartments in The Address Residences Marassi Al Bahrain. It will be divided into one, two and three-bedroom units, all overlooking the waterfront.


Finance

Eagle Hills is responsible for financing the development while Emaar Properties will be the operator.

In September 2016, Bahrain based Al Salam Bank has signed a partnership agreement to form a real estate development escrow account model for the urban waterfront project. The arrangement is made in accordance with new legislation under which developers are required to establish an escrow account with a local bank for each real estate development project intended to be sold-off plan. This will ensure protection for stakeholders, especially end-buyers, by utilizing funds only for the development they have invested in.


Related Companies


Owner

Diyar Al Muharraq WLL
Bahrain World Trade Center Building, 6th Floor, King Faisal Highway Street, Sea Front Area
Tel: +973 7715 5555
Email: [email protected]
Web: www.diyar.bh
Eagle Hills
12th Floor, Capital Gate
Tel: +971 2497 9999
Email: [email protected]
Web: www.eaglehills.com

Feed/Design

Pre Qualified

Grimshaw Architects
57 Clerkenwell Road, London, United Kingdom
Tel: +4420 7291 4141
Email: [email protected]
Web: www.grimshaw-architects.com

Short Listed

Grimshaw Architects

Awarded

Grimshaw Architects

PMC

Pre Qualified

Dar Al Handasah (Shair and Partners)
Verdun Street 11-7159
Tel: +961 179 0003, +961 179 0002
Email: [email protected], [email protected]
Web: www.dargroup.com

Short Listed

Dar Al Handasah (Shair and Partners)

Awarded

Dar Al Handasah (Shair and Partners)

Financier

Pre Qualified

Al Salam Bank Bahrain
MS Centre, Building 22, Avenue 58, Al Seef District 436, Kingdom of Bahrain
Tel: +973 17 560 000, +973 17 00 55 00
Web: www.alsalambahrain.com

Short Listed

Al Salam Bank Bahrain

Awarded

Al Salam Bank Bahrain

Operator

Pre Qualified

Emaar Properties
Emaar Business Park, Sheikh Zayed Road
Tel: +971 4367 3333, +971 4399 3366, +971 4366 1688
Email: [email protected]
Web: www.emaar.com

Short Listed

Emaar Properties

Awarded

Emaar Properties

Related Contacts


Diyar Al Muharraq WLL

Name: Khaled Fakhro
Designation: Project Engineer
Email Address: [email protected]
Name: Maher Al Shaer
Designation: Chief Executive Officer
Name: Mohammed Shahid
Designation: Project Manager
Telephone:+973 7755 6693
Name: Paul Buist
Designation: Commercial Manager
Telephone:+973 7700 0327
Email Address: [email protected]
Name: Jon Porritt
Designation: Project Director
Telephone:+973 3504 4105
Email Address: [email protected]
Name: Anne Chanco
Designation: Project Secretary
Telephone:+973 7700 0327
Name: Mustafa Abu Shagra
Designation: Sales Specialist
Telephone:+973 7755 6621, +973 7755 6666, +973 3999 3986
Email Address: [email protected]
Name: Bader Hassan
Designation: Project Incharge
Telephone:+973 7755 6666
Email Address: [email protected]
Name: Maher Bekdache
Designation: Project Manager
Telephone:+973 1753 3582

Eagle Hills

Name: Ms. Low Ping
Designation: Chief Executive Officer
Telephone:+971 2497 9999
Name: Haitham Fekry
Designation: Executive Director Development & Projects
Telephone:+971 2497 9999
Name: Luzelle Gapuz
Designation: Business Development Assistant
Telephone:+971 2 4958 888

Emaar Properties

Name: Edith Makena Mbwiria
Designation: Property Advisor
Telephone:+971 4362 7443, +971 56 608 0755
Email Address: [email protected]
Name: Abdul Wahid Aboush
Designation: Sales Assistant Manager
Telephone:+971 4367 5568
Name: Hiba El Beleidy
Designation: Investor Relation
Email Address: [email protected]
Name: Mathilde Montel
Designation: Public Relations and Communication Manager
Telephone:+971 4367 3693
Name: Osama Sabboubeh
Designation: Head of Project Department
Telephone:+971 4367 5620
Name: Vivien Ivanyi
Designation: Corporate Director of Marketing & Communications for Emaar Hospitality Group
Email Address: [email protected]
Linkedin:View
Twitter: twitter.com/VivienIvanyi
Name: Ahmad Thani Al Matrooshi
Designation: Managing Director
Telephone:+971 4367 3507
Name: Rayan Qutub
Designation: Head of Corporate Business Development and investment promotion
Telephone:+966 12 615 9784
Email Address: [email protected]
Name: Yasir Saeed
Designation: Construction Manager
Telephone:+966 506 310 977
Name: Liam Turner
Designation: Project Manager
Telephone:+971 4367 3392

Grimshaw Architects

Name: Chris Spence
Designation: Head of Media and Public Relations
Telephone:+4420 7291 4141
Email Address: [email protected]
Name: Pedro Villanueva
Designation: Project Manager
Telephone:+61 03 9321 2600


Updates

Mar 2017

The client has revealed that tenders for the main construction contract is expected to be issued in May.

Jan 2017

Dar Al Handasah has been appointed as the project management consultants (PMC) on the scheme.

Nov 2016

UK-based Grimshaw Architects have been appointed as the design consultants.

Sep 2016

Bahrain based Al Salam Bank has signed a partnership agreement to form a real estate development escrow account model for the urban waterfront project. The arrangement is made in accordance with new legislation under which developers are required to establish an escrow account with a local bank for each real estate development project intended to be sold-off plan.

Apr 2016

The project is still in the study stage.

Jan 2016

Feasibility study is ongoing as part of the master plan for the Marassi Al Bahrain. 

May 2015

The project Marassi Al Bahrain was revealed at the Gulf Property Show.


Location