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FINANCIAL NEWS
Bahrain to build a USD63m state-of-the-art park
18 Jun 2012
(MENAFN) Bahraini Urban Planning Affairs Ministry is set to start work on USD63.66 million modern public park in 2013, Trade Arabia reported.
Ministry Under-Secretary Dr Nabeel Abu Al Fateh said that the project involves revamping Grand Muharraq Garden, close to Bahrain International Airport, and will take three years.
60 percent of the total garden land will be green and open to the public, while 40 percent that will see a number of vertical buildings will be offered for businesses, Urban Planning Affairs Minister Dr Juma Al Ka’abi said.
The original project was intended to turn the garden into a miniature Disneyland, but was cancelled two years ago.
The projects will include Bahrain’s first full-size ice arena at the cost of U36.2 million, an aquarium and aquamarine centre, a major karting track and spectacular amusement rides.
Abu Al Fateh officially firmed a 30-year deal with local investor Fouad Shuwaitar at a ceremony held at the ministry’s headquarters in Manama.
The garden’s original area is 93,000 sqm, but facilities will be built on 111,000 sqm area. The project will include also large green areas, restaurants, a fitness club and gym, an elderly centre and family resting areas.
A commercial complex will be added on the garden’s side of the airport which will be leased to airlines, car rental companies and cargo providers, and will include a business centre, banks and insurance offices.
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