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.