Pearl plans new project in Bahrain

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MANAMA: Pearl Development and Real Estate Company (PDREC), a consortium of GCC investors, announced its plans to launch its second project in Bahrain.

Valued at an estimated development cost of BD25 million ($66m), the Platinum Tower project will be located in Seef, the commercial hub of Bahrain, and will be an exclusive private sector freehold commercial development.

The project was on show at the property exhibition alongside the company's Abraj Al Lulu project which is nearing its structural work completion..

"We are extremely delighted to announce our second project in Bahrain," said Pegus Realty managing director Hatmin Dadabhai, the sales agent for the project.

"This initiative is completely in line with our long term-strategy and reinforces our business philosophy which focuses on providing quality product offerings over quantity. "The project has immense investment potential, which will in turn contribute to the country's economy by bringing inward investment thus complementing the policies of the government of Bahrain and reinforcing the investor faith in Bahrain's booming real estate market."

The Platinum Towers project will comprise 128 offices spread over 29 floors.

there is picture for this project in alayam newspapers

there is picture for this project in alayam newspapers

Thanks cazanova :)

Construction has started on this one, it's next to Elite in Seef.

nic tower
but how tall is it???????

yeah i see this tower as a dwarf but its truly a master peice ! it would be cool if it was a hotel :D

Platinum Tower construction work begins

MANAMA: Construction work has begun on the BD25 million ($66m) Platinum Tower in the Seef area.Pearl Development and Real Estate Company (PDREC), a consortium of investors from Bahrain, Saudi Arabia and other GCC nations, who were behind the Abraj Al Lulu, the BD95m freehold residential development property, are building the tower.

"Bahrain is emerging as an attractive business destination and is rapidly building on its strength as the financial hub of the Middle East," PDREC chairman Mohammed Dadabhai.

"A vibrant business climate will require quality commercial space for those seeking to capitalise on the business opportunities available, and Platinum Tower is being developed and has begun construction with this goal in mind," Mr Dadabhai said.

The project is expected to be completed in 24 months.

The project has been designed to offer a first-class business environment and is ideal for those who seek convenience, quality and luxury in the range of amenities and services provided.

It has immense investment potential because of its location in the exclusive Seef area, and easy accessibility to Manama's commercial business district makes it an ideal base for conducting business in Bahrain.

"Even prior to the pre-launch, we have sold 25 per cent of the property, and an additional 25pc has already been booked by potential customers," said Pegasus Real Estate, exclusive sales agents for the project, managing director Hatim Dadabhai.

Sakana inks deal with developers of Platinum Tower
K.V.S. Madhav
Senior Business Reporter

In a landmark deal, Sakana Holistic Housing Solutions has signed a Memorandum of Understanding with the leading real estate developers, Pearl Development & Real Estate Co. and Promobai Development & Real Estate Co. to become the preferred Islamic mortgage provider for two brand new luxury developments – one commercial, the second residential.
The twin commercial-residential signing is a first for Sakana and the latest in a string of MoUs with leading developers that allow it to make purchasing property in Bahrain easier and simpler for Bahraini nationals, GCC nationals and expatriate buyers.
Arun Kumar Praharaj, Group Finance Director, welcomed Sakana as a partner. “We are proud to collaborate with Sakana on these landmark projects and also to participate in Sakana’s first twin signing. Crystal Heights and Platinum Towers are part of a new wave of modern, quality luxury developments in the Kingdom that are changing the Bahrain skyline and taking property development to new heights.”
R. Lakshmanan, CEO of Sakana, said: “Sakana is known for breaking the traditional barriers of business to forge strong and lasting partner networks across all housing-related products and services. We are very pleased to develop on our existing relationship with the leading real estate developers and expand our portfolio of services with this new and significant agreement. We pride ourselves on being able to offer our customers opportunity, flexibility and convenience through these kinds of collaborative partnerships.”
He said Sakana has become a powerful catalyst in the Bahrain mortgage market through its unique, holistic approach and the simplicity and innovation of its unique range of Sharia’a-compliant products and services.
As the endorsed provider of mortgage services for the Crystal Heights and Platinum Tower developments, Sakana is able to offer its customers more ways to take advantage of Bahrain’s booming property market.
Crystal Heights, a project by Promobai Development & Real Estate, will be a 27 floor, luxury residential development of 150 apartments and 1,400 square feet of retail area overlooking Juffair. With an all-glass facia and twisted cubes forming a distinctive component of its futuristic architecture, the premium freehold property aims to set new standards in luxury living by its completion date in 2010.
Platinum Tower, a project by Pearl Development & Real Estate Co., will be a 29 level ultra modern freehold commercial development adjacent to the Ritz-Carlton Hotel in the prime Seef district. With 128 offices and six showrooms, the high-rise tower will also boast an executive health spa, swimming pool, Jacuzzi, sun deck, terrace and sophisticated business centre. It is also scheduled for completion in 2010.

What about this one..? Almost complete i hope? :)

Yes it is :)

Video

http://www.youtube.com/watch?v=kM6jePmScHI&feature=related