Among all the pivotal and unprecedented socioeconomic changes the Gulf Cooperation Council (GCC) member countries have been witnessing over the past few years, the shifts that took place in the Kingdom of Saudi Arabia, especially the social and cultural ones, were the most outstanding, especially considering the fact that Saudi Arabia is the largest state in the Arabian Peninsula and its de facto leading power.
That being said, the changes that took place in the other nations in the region have not been much less powerful. For example, not so far away from the eastern coastline of Saudi Arabia, the Kingdom of Bahrain’s economy has been going through accelerating growth rates. As a matter of fact, it has been ranked as the fastest growing economy in the region in 2017, with the Bahraini tourism being its fastest growing economic sector in this year.
Such growth has positively impacted other industries, like the entertainment industry and real estate in Bahrain and many others. One of the main factors contributing to the ongoing growth of the tourism sector in Bahrain is the several major projects that have been launched during the last few years, like Saada project.
Location and Specifications:
A $119m mixed-use waterfront master development in Muharraq island, Saada West is developed by Bahrain Real Estate Investment Company (Edamah), the real estate development arm of the Sovereign Wealth Fund in Bahrain.
The project is being developed over two phases: the first one comprised the reclamation works of more than 18,000 square meters from the gulf waters, as well as constructing seawalls and jetties. On the other hand, the second phase houses seven new buildings that will feature large retail space that includes 45 outlets for the best world class lifestyle and food and beverage brands; in addition to all of that, the phase will comprise a multi-storey carpark building.
The first building of the development is set to be completed within June 2019, while the entire master development is due for completion in November 2019.
That is not all, as Saada will also encompass several amenities and features to help meet the high standards of luxury, lifestyle, and entertainment its visitors and residents expect. To mention a few, it will enhouse a promenade with fascinating views of the waters and harbourside dining experience, as well as a marina with the capacity to accommodate a lot of boats.
Awards won by Saada project:
It is worth mentioning that Edamah, Saada project developer, has won five awards at the Dubai, Africa & Arabia Property Awards Ceremony,which was held on June 12 in the London Marriott Grosvenor Square. The awards which the developer won included Leisure Architecture Bahrain, Best Mixed-use Development in Bahrain, Best Leisure Development Bahrain, the two latter awards were with 5-star ratings.
With its strategic location and several unique features, Saada is one of the most ambitious near-launch developments in Bahrain and it, along with the many other projects under construction there in the present time, is expected to play a major role in boosting its tourism industry even more within the near future.
