Industry News

Bahrain's Bin Faqeeh launches luxury real estate project

Bahrain: Bahrain’s Bin Faqeeh to launch a scheme of USD225 million luxury property in Diyar Al Muharaaq. This luxury project features 465 villas comprising 2 to 5 bedrooms.

The project is named “Alsidra”, which will a gated community to be completed by 2019. This luxury villas will be designed in modern style inspired by traditional element. Alsidra is a wonderfull fresh concept that gives the essence of modern architecture with the combination of traditional culture followed in GCC countries. Bin Faqeeh are known for its mesmerizing innovation concepts. The project, to be commenced, is situated in prime locations and have practical, easy-to-live-in apartment design.

According to TechSci Research, with increasing infrastructural development in the country like luxury apartments and other commercial establishments, the demand for air conditioners are anticipated to witness a healthy growth. Extremely hot climatic conditions in the country demands efficient air conditioning solutions which would, eventually, drive the demand for air conditioners in Bahrain.

According to a recent report published by TechSci Research, “GCC Air Conditioners Market By Product Type, By End Use Sector, By Country, Competition Forecast and Opportunities, 2011 – 2021”, GCC air conditioners market is forecast to grow at a CAGR of over 10% during 2016-2021, due to rising construction in the residential and commercial sectors, increasing disposable income and upcoming mega events such as FIFA World Cup 2022 in Qatar, World Expo 2020 in UAE, cultural and summer festivals in Bahrain, etc. Surging temperatures during summers and implementation of stringent government initiatives that only allow sales and imports of energy efficient air conditioners are anticipated to fuel demand for air conditioners in the GCC region over the next five years. Moreover, huge ongoing and upcoming infrastructure investments by various governments in the region is expected to positively influence the sales of air conditioners market in the region.