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Riffa Views completes villa construction in Oasis Estate

Over 50% of the Project’s Villas Now Completed

Riffa Views, Bahrain’s premium golf residential development, announced today that construction of villas located in the Oasis Estate is complete.

Contractor PCC-Terna has now completed 350 villas in Oasis and Lagoons Estates, and overall, the number of completed villas in the project represents over 50% of the total for the development.

Following the completion of villa construction in the Oasis estate, the focus will now switch to landscaping within the zone, as well as completion of the remaining villas elsewhere in the development. Once normal pre-delivery checks have been completed, final handover of all Oasis villas to homeowners is projected to occur by the end of November this year.

Yasser Abdulrahman Al-Raee, Managing Director of Riffa Views, said, “Completion of the construction of the Oasis Estate is another important milestone for Riffa Views as we progress towards our goal of creating Bahrain’s first golf residential development. We would like to recognize the dedication and commitment of our contractor, Terna, and the efforts they have made in achieving today’s milestone. We are now working to duplicate the progress achieved in the Oasis Estate throughout the development and are finalising negotiations with contractors to complete the outstanding construction.”

Dimitrios Xoudis, Country Manager TERNA added, “Everybody recognises that residential development projects have faced numerous challenges over the last 2 years, which makes the achievement of this milestone particularly satisfying. We have worked closely with the team at Riffa Views to maintain progress within the project and developed a very constructive and transparent relationship to meet and overcome the challenges we faced. Above all, it is particularly rewarding to watch residents moving in each day, as the vision of Riffa Views becomes a reality.”

Riffa Views Welcomes its 150th Resident

Today, Riffa Views recorded another important project milestone as it handed over keys to its 150th resident, Mr. Suhail Ghazi Algosaibi.

After the considerable challenges experienced during the last 18 months, progress at Riffa Views is gathering pace, and the two main contractors have committed to a framework of planned deliveries over the course of 2010. Yasser Al-Raee, Managing Director of Riffa Views commented: “With a clearly defined programme of construction and villa delivery, we are pleased to see the positive momentum translating into a very active villa handover schedule. The drive to ensure satisfactory handover to residents as quickly as possible remains our principal focus.”

Resident Mr. Algosaibi commented: “I am very excited to take possession of my house and to be part of this community. The handover service provided by the management and staff of Riffa Views has been good. Despite the delays, I have been satisfied at the way that Riffa Views have tackled a difficult set of challenges. Now that I have the keys, I am absolutely delighted at the decision I made to buy at Riffa Views. The house is really impressive, and I am very pleased with the interior and exterior finishes.”

The dedicated villa delivery team is currently handing over an average of 10 villas a week. The number of villas delivered will progressively increase throughout the following months, and the target is projecting delivery of over 30 per cent of the sold villas to homeowners by the end of the first quarter of 2010.

Contractors are fully committed to the over-riding goal of villa delivery, working concurrently within the development to speed up the process of delivery to every extent possible. To date, 20 per cent of the villas within the development have been completed and handed over from the contractors to Riffa Views, 95 per cent of the infrastructure is now complete, and landscaping works are steadily progressing in areas where homeowners are living.