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Discussion Starter · #1 ·
Gulf Finance House (GFH), one of the leading Islamic investment banks in the Middle East, and Bahrain-based Dala Development Properties Management Company (Dala Development Company), today signed a memorandum of understanding (MoU) to develop Two Seas - a visionary freehold island project.

The 11 million sq m project will be built on a man-made island located north east of the Kingdom.

Introducing Two Seas as a prime waterfront property development that will redefine the concept of luxury waterfront living in the region, Esam Janahi, chief executive officer of GFH, which is the lead promoter and financial advisor of the project, said: 'Two Seas will change the skyline of Bahrain, contributing to the redevelopment of the Kingdom.'

'The project, which will be developed in three phases, 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,' he said.

'Two Seas will be a vibrant and exclusive waterfront community comprising residential clusters, luxury hotels, schools, hospitals, high-street retail opportunities, promenades, and other modern amenities.'

'Additionally, in keeping with its positioning, Two Seas will also host a variety of marine and nautical-related facilities, including quays, berthing services, and water sporting related infrastructure. In short, Two Seas will offer unparalleled high-class living in a serene setting close to the city,' Janahi said.

Commenting on the project, Saud Kanoo, chairman, Dala Development Company, said the indicated project cost of $3 billion would only cover the land reclamation and infrastructure related work for the development. 'The cost of the project is in line with the area land rates and we are working with several sub-developers and investment partners to develop the key characteristics and components of Two Seas.'

The project will also offer Bahraini nationals an opportunity to be partners in its growth through a subscription process and details are being worked out now, he said.

Two Seas will also stand to benefit from the Government of Bahrain's drive to develop the area as a waterfront district of the Kingdom. 'Backed by the support of the Government of Bahrain, marketing the project of share offerings has already started parallel with the development activities,' Kanoo said.

'As development partners to the prestigious Two Seas project, our mandate will be to create the entire infrastructure for the development, with details down to road and service layouts linking various parts of the development without upsetting the tranquility of waterfront living and the environment,' Kanoo added.

Jameel Ali Al Matrook, CEO, Dala Development Company, said Scott Wilson (UK) has been appointed to study the location and develop the master plan for the project. The reclamation and infrastructure development of the first phase will begin at the end of 2005.

The first-phase land and infrastructure development will be 9.7 per cent of the entire project. Spread across 2.5 million sq m, it will be completed in 18 months. The second phase will entail development of 3.5 million sq m, comprising 13.5 per cent of the Two Seas project and the rest will be developed in the third phase, Al Matrook added.

Commenting on the project, Abdul Rahman Al Jasmi, deputy chief executive officer of GFH said: 'Two Seas is GFH's third landmark infrastructure development project in Bahrain, apart from the $1.3 billion Bahrain Financial Harbour (BFH) and the $750 million Al Areen Development. BFH is an integrated project with a strong focus on the financial industry, and will reinforce Bahrain's status as the Middle East's hub of the financial industry, while Al Areen will enhance the image of the Kingdom as the preferred family tourism destination.'-TradeArabia News Service
 

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GFH is really taking over Bahrain!! Love the seahorse shaped islands! Nice to see Bahrain finally utilizing its biggest assest...the sea!! :)
 

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Great, looks huge and $3 billion is a nice price tag, but from what is said in the article, it'll be more.

I wonder where it will be located, as they mentioned 'Two Seas will change the skyline of Bahrain, contributing to the redevelopment of the Kingdom.'
I'd assume somewhere not far of from Muharraq, if they mean extending the current skyline.


We know now as a matter of fact that in the next 10 years when you look at Bahrain from space, it will be freakin different significantly bigger.

Keep em comin. We need to see more green spaces, that's what we really need.
 

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Nice...

And i agree, enough with land reclamation projects...but that only applies to other gulf countries =P we have an excuse, we're a tiny little island, land is becoming more and more scarce, we need reclamation projects, Dubai, Qatar, and Saudi don't...
 

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Ok here is the location in this article:

A $3 billion (BD1.134bn) waterfront community is to be built off Bahrain's northeast coast. The Two Seas project will be built in the shape of a sea horse and will included luxury homes, hotels, schools, hospitals, shops, marinas and other facilities. Lead promoter and financial advisor to the project, Gulf Finance House (GFH), is developing it in partnership with the Bahrain-based Dala Development Properties Management Company.

It will be located on a man-made island near Amwaj Islands, but will be several times bigger.

"The project will redefine the concept of luxury waterfront living in the region," said GFH chief executive officer Esam Janahi.

The first phase reclamation and infrastructure development will start by the end of the year, according to Dala chief executive officer Jameel Ali Al Matrook.

Two Seas is GFH's third landmark infrastructure development project in Bahrain.

It follows the $1.3bn Bahrain Financial Harbour (BFH) and the $750m Al Areen Development.
 

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Wonder what would be the starting prices be for aprtments/villas in the "the two seas".Close to what they are in the palm islands :sly:
 

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Discussion Starter · #12 ·
Not another one ! Probably this is the most creative one of them all, but its getting old and it seems a lot of us are just running out of ideas !!

I disagree with Patriot, you can't tell me this sole purpose of this project was because bahrain was running out of land. This is purely for commerical reasons nothing else. And bahrain running out of land is just a myth. At least 60% of bahrains land is not urbanized yet, south of awali/shakir area. Plus the island of umm al na2san which is probably bigger than muharraq island has also not be urbanized yet. Places like Singapore and HK are places which really need to relaim coz they are literally out of land.
 

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Qatar4Ever said:
Not another one ! Probably this is the most creative one of them all, but its getting old and it seems a lot of us are just running out of ideas !!

I disagree with Patriot, you can't tell me this sole purpose of this project was because bahrain was running out of land. This is purely for commerical reasons nothing else. And bahrain running out of land is just a myth. At least 60% of bahrains land is not urbanized yet, south of awali/shakir area. Plus the island of umm al na2san which is probably bigger than muharraq island has also not be urbanized yet. Places like Singapore and HK are places which really need to relaim coz they are literally out of land.
you bring up good points q4e but personally i wouldnt want to see the whole of bahrain urbanized. I mean it would be devastating to loose the areas that offer a sense of real desert environment dont u think?
 

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the funny thing about these reclamation projects is that not one has actually been completed....yet new ones keep on springing up. I mean the sales for durrat and amwaj have been reported as going extremely well. so who knows once the first ones are finished we will get a clear picture of the scale of demand for these projects. ..

For those of you who think these land reclamation projects are becoming unoriginal or repetitive...well i believe that the developers are fully aware of this....and thus will only feul each development to put more effort in standing out and differing from the rest....its competition in its best form as no one has really claimed the largest market share as of yet....the race is still in its early stages and EVERYONE still has a chance of making their mark...

FInally all these offshore development projects may contribute to an enhanced image of the middle east. It could remould international perceptions of life in the middle-east for the better. The world's prime region for waterfront living.
 

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Discussion Starter · #15 ·
You have a point skyline, but i beg to differ. First off, i dont care how far out you are in bahrain, there is no way you get a real sense of the desert. To get a sense of the desert you need to drive in the middle of no where of over an hour without seeing a single car or person, thats desert. Whereas you go to the desert in bahrain and try to camp, hehe, you have like 10,000 ppl walking in front of your tent each day.

I agree, regardless of bahrain having a desert or not, knowing there are open spaces is always a good feeling. But i never said bahrain should be urbanized completly, i was making a point that this project is purely commerical and has nothing to do with bahrain not having land.

One thing Id like to add and probably isnt very much related to this topic. Less and less bahraini families can afford lands at the current rates to build their family homes on. Prices of lands in bahrain are quiet high ! Though bahrain is a small country, but allowing 20 to 30 percent of these unused land to be sold to the public, after proper infrastructure work, could stablize the price of lands and give many lower income families a chance to buy land.

Hopefully will see this with the new cities bahrain is planning to develop.
 

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You had info on this project in your Singaporian newspapers?!!


And Btw Qatar4Ever...Its true that like probably 60% of Bahrain is unurbanized, and not used, but the thing is all of it is taken...Its owned by certain special ppl...Soo in a way, we are in fact running out of land!
 

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Bahraini Patriot said:
You had info on this project in your Singaporian newspapers?!!


And Btw Qatar4Ever...Its true that like probably 60% of Bahrain is unurbanized, and not used, but the thing is all of it is taken...Its owned by certain special ppl...Soo in a way, we are in fact running out of land!

I can't agree more on that last bit you said, don't want to expand any further really. The problem is Bahrain is small. I have a feelin the crown prince will change that, but that has yet to be seen. That's why I like how things are done in the west, no one cares who you are, no one is special bla bla bla.

Anyways back to topic, I agree, this thing is commercial. I'll comment more later.
 

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Admiror said:
Wonder what would be the starting prices be for aprtments/villas in the "the two seas".Close to what they are in the palm islands :sly:

No idea, think they'll be cheaper, depends what you want really.
 

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Well , if this is what people want, its what people get !!

Business is like that, all about demand and how to satisfy people's needs,

Reclamation is not bad, if done in proper location and if not using toxic, dump in the project of course. in Bahrain, they use sea soil only these days, and so dubai does, however, cement walls are used as well, which rises concerns on its possible negative effects on sea life.
 
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