gulfBID, gulfInteriors & Gulf Property Show

Era to launch new projects at expo

April 2015

Era Projects of Bahrain will be providing visitors at Gulf Property Show 2015 a preview of some of the new real estate projects it intends to launch on the market this year.

The property developer, which returns to the show next month after a successful performance last year, says it received a highly positive response at the 2014 event which provided it with an opportunity to meet companies and individuals that were keen to invest in the real estate market.

In fact, the company closed a few deals on the spot last year, according to Ahmed Said Mohamed, sales and marketing director, Era Projects.

Mohamed says gulfBID, gulfInteriors and Gulf Property shows enjoy good media coverage, provide an opportunity to interact with international exhibitors and visitors and provide a platform to launch upcoming new projects, which is what encouraged the firm to participate at the show.

Era Tower ... completed in Seef.

Era Tower ... completed in Seef.

At the Gulf Property Show this year, Era Projects will be unveiling its new projects such as the Aya Tower, a 38-floor residential tower on Al Fateh Highway consisting of 225 apartments with stunning panoramic sea views; and Era Gardens Hamala, which will be a compound of luxurious residential villas.

Also on sale will be a limited number of apartments at the Era Tower. These apartments, which enjoy a panoramic view, are ready for delivery, he says.

Era Projects is active in the real estate development and property management sectors in all areas of Bahrain and Saudi Arabia. Established in 2006 with an office at the Era Business Centre in the Diplomatic Area, the company employs 125 people and has an annual turnover of $6.5 million.

Mohamed says the company had a “great” 2014 compared to the previous year as business showed a 50 per cent improvement over 2013 and almost 300 per cent growth over that of 2011. He adds that he is highly optimistic about 2015 as well.

The company has many projects, either ready or in the pipeline. Amongst the ones it has completed are the Era Tower, which was built at a cost of $45 million in the Seef area; the $20-million Avare Tower; and the $16-million Era Business Centre. Meanwhile, the Aya Tower worth $30 million and Era Gardens valued at $20 million are currently in the pipeline.

Mohamed indicates that Era Projects intends to launch Era Real Estate Company as a sister company this year.

“We are planning to add more activities including consulting and property evaluation,” says Mohamed.

About the prospects for the construction industry in the GCC, he says: “The construction business in the Gulf over the next few years seems to be very promising. Doha in Qatar and Dubai in the UAE, in particular, are showing huge progress which will impact the other GCC markets in a very positive way.”

Era Projects will be exhibiting at Stand GP02 at the Gulf Property Show 2015.

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