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Difaaf - Reef Island
Offering Size: USD 65 Million
Country: Kingdom of Bahrain
Nature of Investment: Residential
Year: 2008
Reef Venture Holding Company W.L.L., was established to develop ‘Difaaf’, a high-end luxury residential development valued at USD 200 million, which is located on Reef Island in Bahrain. Between its two concaving towers, Difaaf comprises a total of 425 apartments ranging from 1-3 bedrooms and penthouses with each apartment providing stunning views of the sea and the city.
Reef Venture Holding Company W.L.L. is 100% owned by Difaaf Development Limited which was a USD 65 million private placement offering allowing VCBank and its investors to jointly participate in the development project. Despite the current unfavourable market conditions for real estate, 15% of the entire Project has been sold since the launch of the Project in October 2008.
Piling works on the Project is near completion and the Board of Directors of Reef Venture Holding Company W.L.L. have taken a conscious decision to postpone the appointment of a contractor to take advantage of ongoing significant reduction in construction costs to the benefit of investors and buyers. Reef Island is considered as one of the most exclusive and luxurious, residential real estate projects in the Kingdom of Bahrain, targeted at GCC and international investors / end-users seeking high end residences.
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Offering Size: USD 65 Million
Country: Kingdom of Bahrain
Nature of Investment: Residential
Year: 2008
Reef Venture Holding Company W.L.L., was established to develop ‘Difaaf’, a high-end luxury residential development valued at USD 200 million, which is located on Reef Island in Bahrain. Between its two concaving towers, Difaaf comprises a total of 425 apartments ranging from 1-3 bedrooms and penthouses with each apartment providing stunning views of the sea and the city.
Reef Venture Holding Company W.L.L. is 100% owned by Difaaf Development Limited which was a USD 65 million private placement offering allowing VCBank and its investors to jointly participate in the development project. Despite the current unfavourable market conditions for real estate, 15% of the entire Project has been sold since the launch of the Project in October 2008.
Piling works on the Project is near completion and the Board of Directors of Reef Venture Holding Company W.L.L. have taken a conscious decision to postpone the appointment of a contractor to take advantage of ongoing significant reduction in construction costs to the benefit of investors and buyers. Reef Island is considered as one of the most exclusive and luxurious, residential real estate projects in the Kingdom of Bahrain, targeted at GCC and international investors / end-users seeking high end residences.
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