Seef Terraces ahead of schedule
Manama : The award-winning family focussed residential project of Dadabhai Group properties, Seef Terraces is progressing well ahead of the schedule with completion set for end-2017, the company said in a statement.
Located in Seef District, Seef Terraces is a 29-storey freehold tower comprising 173 studio, one-, two- and three-bedroom apartments with large private terraces offering a high-quality lifestyle in a neighbourhood that blends residential, commercial and leisure space.
Construction work on the project, which started in May 2016 and expecting completion by December 2017, is nearly 60 per cent complete.
Commenting, Dadabhai Noon Real Estate managing Director Shabeer Dadabhai said, “Our target is to place one slab every 10-days, hence three slabs per month. So far 25 slabs have been placed. Work on the 26th slab is currently underway.”
“Block works have been completed till the 22nd floor, tiling is ongoing with the 10th floor ready whereas mechanical and electric works have been completed till the 18th floor,” he added.
Features include tennis and squash courts, BBQ area, jogging track, cinema, indoor basketball court, a large outdoor landscaped play area for children, separate gymnasia, steam, sauna and jacuzzi for women and men, a large infinity pool with lounge area and outdoor jacuzzi on the rooftop level.
The eco-friendly building is also designed to be earthquake-resistant.
60pc sold out!
The project’s exclusive sales agent Pegasus Real Estate’s managing director Aziz Mithaiwala said 60pc of the project has been sold out, while buyers comprise of 18 different nationalities.
“A majority of the buyers are from Bahrain followed by other GCC nationals and expatriates of various nationalities from the region.”
Prices start at BD60,500 and go up to BD160,500 for large three-bedroom apartment on the top floors.
The developer has also entered into a partnership with Khaleeji Commercial Bank (KHCB), a leading Bahraini Islamic bank, whereby residents of Bahrain wanting to buy apartments in Seef Terraces can avail a mortgage loan.
“Monthly loan instalment for a typical one-bedroom apartment starts at BD425 per month while a two-bedroom flat will cost BD500 per month payable over 20-years,” said Mithaiwala.
“The mortgage process can be facilitated through our head office in Seef while other direct construction-linked payment plans are also available for buyers,” he added.
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