Juffair Views sold at auction

Manama  : The stalled multi-million dollar real estate project in Bahrain, Juffair Views has been successfully sold yesterday for BD3.6 million at auction. 

The sale, to Ramee Group, was made after a heated bidding session involving 30 bidders- four of them being registered bidders.  Bidding started at BD3.5 million

The auction, according to Savills, is also the first of its kind in Bahrain. 

The sale was arranged by Real Estate advisory firm Savills Northern Gulf (Bahrain Office), under the guidance of the Committee for Stalled Real Estate Projects. 

Juffair Views, a 26 storey waterfront development in Juffair, is one of the four stalled projects in Bahrain which has been referred to the Committee for Stalled Real Estate Projects. Other projects are Amwaj, Marina West and Sunset Hills project, according to BNA. 

The Juffair Views project was reportedly launched in 2006, but stalled three years later.  Savills plc, a UK company founded in 1855, is one of the world’s largest property firms with over 700 offices and 30,000 staff around the world. It is recognised globally and has been independently voted as the number one real estate super-brand for the last 12 years. Savills Northern Gulf offers a broad range of specialist advisory, management and transactional services across Bahrain, Jordan, Kuwait, Qatar and Saudi Arabia.

Savills have two offices in Bahrain, with main office in Seef and a sales office in the Ritz Carlton Hotel. Contact Savills office on +973 3200 4200 or +973 1700 5208.