GFH Properties, the real estate arm of GFH Financial Group, has released a new residential tower at its iconic Villamar project, primely located on the Manama waterfront, Bahrain, Invest-Gate reports.

The company has begun handing over between 150 one- and three-bedroom units to local, regional, and international investors. The mixed-use complex, which comprises an array of residential, retail, hospitality, and leisure properties, spreads over 35,900 square meters at the heart of Bahrain Financial Harbour, while featuring a built-up area of over 250,000 square meters, according to a press release on January 12.

Hisham Alrayes, CEO of GFH, said, “Completion and handover of the residential units at Villamar has been a major priority for the group and we’re delighted to have now reached this very important and exciting milestone for buyers at the development.”

“This is one of the flagship projects on Bahrain’s skyline and we’ve done all we can to ensure the development of one of the most advanced and exclusive residential complexes offering both privacy, from its island location, as well as, close proximity and easy access to key business and retail districts within the kingdom,” Alrayes continued.

For his part, CEO of GFH Properties Shaikh Hamed Al Khalifa added, “We are extremely pleased to be announcing this significant development and major show of progress at the landmark Villamar project, which is spread over 5,900 square meters of prime waterfront land at the Bahrain Financial Harbour.”

“Having set out to conceptualize and deliver an exceptional proposition in terms of design and quality, we are confident that Villamar will provide an ideal residential environment for buyers that are set to secure their newly completed, state-of-the-art properties. We are now focused on completion of other key elements of the project with our team of outstanding partners and to announcing further progress and updates as this world-class development takes full shape,” Al Khalifa was quoted as saying.

The announcement came after GFH Properties secured all the certifications and licenses from various government entities for project implementation, the statement concluded.