Riffa Views starts selling Parks District villas

Riffa Views Managing Director, Yasser Abdulrahman Al Raee announced the completion of all preparations by all parties involved in the final phase of Riffa Views residential community project in the Southern Governorate, and the launch of villa sales at Parks District.  

It is considered one of the most prestigious districts, not only in Riffa Views, but also in the Southern Governorate as a whole, given its outstanding amenities and features, which far exceed what is provided in other projects.

Al Raee also pointed out that Riffa Views has received offers for the purchase of a number of the Parks District villas, many of which were concluded by Riffa Views Sales Department.

He thanked the National Bank of Bahrain (NBB) for its strong support of project completion efforts in the best interest of all stakeholders. Al Raee also lauded the outstanding efforts of the NBB’s CEO and Director Abdul Razak Al Qassim who extended all possible facilities to secure this agreement.

Members of the committee in charge of implementing Riffa Views project completion plan, thanked the Deputy Prime Minister and Chairman of the Ministerial Committee for Construction and Infrastructure Shaikh Khalid bin Abdulla Al Khalifa, for his understanding and support of the plan put forward by Riffa Views and other stakeholders. 

They also praised the Ministerial Committee for its prompt approval of the implementation of the plan to ensure the completion of the final phase of this vital project.

 “The plan drawn by Riffa Views, in coordination with NBB and other stakeholders, provides for partial repayment to creditors over the coming period, and reflects the active participation by NBB, as the sole secured creditor. It also has self funding by contractors in charge of completion of 212 villas at the Parks District, namely Poulliades Construction Company (61 villas), Projects Construction Company (78 villas) and Cyprus Cybarco Tabet JV (73 villas), under the supervision of consulting engineers Adel Ahmadi Associates,” he added. 

Al Qassim said, “NBB is committed to provide support and mitigate risks to the owners of this vital project, which represents a model for all similar real estate projects in Bahrain.” 

He added that “although NBB is the sole secured creditor, it expended all effort to ensure the implementation of this plan to complete the project, obtain repayment of its facilities, and enable other creditors to recover a significant part of their debts.” 

Riffa Views is the first gated residential community in Bahrain, comprised of 1,056 villas, built around a golf course. It combines many essential elements for success including its strategic location, vast landscaped areas and service, retail, recreational and entertainment facilities, such as the Royal Golf Club, the Royal Country Club, Riffa Views International School, JC’s Tennis Academy, Riffa Views Football Academy and Riffa Palms shopping mall.