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£275m project scrapped in Bahrain



12 June 2009

First Bahrain, a leading property firm, has cancelled a £275m mixed-use project, which was planned for construction in Seef district of Bahrain, due to the economic downturn.

The company says that it will no longer continue with the mixed-use project due to the 'prevailing market conditions'.

The project, which would have been built on 21,000sqm, was due to feature a five-star hotel, service apartments, offices and residential towers.

The project’s general manager Amin Ahmed Al Arrayed said: “Working together with all parties involved, First Bahrain has amicably concluded all previous agreements related to the project, with no outstanding or forward liabilities.”


See Also:   Bahrain


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