“According to MEED (Middle East Business Intelligence) Bahrain’s local real estate developer Manara Developments has awarded US-based Great Lakes Dredge & Dock Company an estimated BD10m ($26m) contract” (“Manara (Bharain) awards $26m deal for Nurana waterfront scheme to great lakes dredge and Dock”). Nurana project comprises of residential, recreational and commercial spaces over a land of two million square meters. The project has been conceptualized as a self sustained island facing waterfront. “Nurana reflects a considered contribution to the social and economic objectives of the Bahrain 2030 Vision” (“Manara (Bharain) awards $26m deal for Nurana waterfront scheme to great lakes dredge and Dock”). Estimated costs associated with the project exceed 1 Bn.
Manara Developments, owned by Al Salam Bank Bahrain and partners, looks forward to expand its real estate projects across gulf region. The company gives social conscientiousness prime importance and considers development of community as a whole. “The brand philosophy has also taken these points into consideration. Starting with the name ‘Nurana’, which is similar to ‘our light’ in Arabic, the project theme centres on ‘Bahrain’s Spirit…Reborn’, positioning Nurana as the light that will shine over Bahrain and act as a vehicle for reviving Bahrain’s spirit and rich past which thrived on culture, heritage and the arts” (“Manara Developments Company soon to unveil its new flagship project –Nurana”).
Nurana project is realization of present societal need. With growing work hours, it becomes important for people to reduce travel time from residence to work place and back. The project has been planned considering almost every need of residents. “The master plan, leveraging the proximity to the water front offers a marina that is envisaged to be a focal festive area, culinary and social destination” (“Manara (Bharain) awards $26m deal for Nurana waterfront scheme to great lakes dredge and Dock”).Its strategic location and scope also creates interest for tourists.
Works cited
“Manara (Bharain) awards $26m deal for Nurana waterfront scheme to great lakes dredge and Dock”. Dredgingtoday.com. Dredging Today, n.p, 2009. Web.
“Manara Developments Company soon to unveil its new flagship project – Nurana”. Zawya.com. Zawya, n.p,n.d Web. 2010.