MANAMA: Reef Venture Holding Company has announced the launch of its first luxury residential project called Difaaf on Reef Island to be completed in 24 months. Valued at $200 million, the project comprises a luxury water-front residential complex consisting of two towers and covering a 16,000 square meters plot of land strategically located in the heart of Manama.
“The project will have 425 apartments upon completion and will attract medium to high income group. It offers an ideal investment opportunity as well as value for money who wants to buy a property to live in,” said Khalid Abdulkarim, chairman, Reef Venture Holding Company and Chief Investment Officer, Real Estate of Venture Capital Bank. Reef Venture is a limited liability company established by Venture Capital Bank to undertake the development of the Difaaf project on behalf of Venture Capital Bank and its investors. Difaaf launch was held at the Moevenpick Hotel and attended by the top management of the company.
“Difaaf is a high-end residential community offering an exclusive lifestyle for those seeking the luxurious ambiance of a modern Bahrain, while remaining within close proximity of the Kingdom’s business center. We believe that Difaaf’s unique architectural design coupled with its prime location will make Difaaf a distinguished project. We have already seen very strong demand from our investors to acquire units in the project,” Abdulkarim added.
“Furthermore, the Reef Development itself will feature numerous retail and recreational facilities which will enhance the overall living experience-including a shopping mall, fine-dining restaurants, a five-star hotel, a relaxing health spa, a private beach and private lagoon for beach-lovers and water sports enthusiasts, and, a private marina and yacht club for boat owners”, Abdulkarim said.
