Ramee Group Acquires Juffair Views

Wednesday, 21st December 2016

Ramee Group, the Indian hospitality company, bought the stalled Juffair Views project in Bahrain for BHD 3.6mn, reported Arabian Business on Wednesday.

At a public auction, the Indian hospitality company, Ramee Group, bought Juffair Views, a 26-storey residential tower, for BHD 3.6 million and plans to complete it in 2017.

For an additional cost of BHD 7 mn, the Indian developer is to redesign the residential project  to include 80 serviced apartments, a penthouse, and a health club.

Back in 2007, construction of the Juffair Views took place and was scheduled to inaugurate in 2009 but the whole project came to a halt with the global financial crisis, like many other developmental projects in the country. Recently, the government publicly auctioned such projects and even set up a committee to take care of all delayed developments.

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