International real estate specialist CBRE has been appointed as a strategic consultant for the Durrat Marina mixed-use development.
Located off the southern coastline of Bahrain, Durrat Marina is valued at $1.5 billion and consists of three interconnected islands linked by a network of bridges.
The project includes 600,000sqm of real estate including residential villas and sea-facing apartments, as well as commercial and leisure facilities including a marina with the capacity to berth up to 300 boats from 10m to 70m super yachts.
The project is a joint venture of Inovest, Kuwait Finance House-Bahrain and Mumtalakat.
CBRE’s mandate will be to advise on and assess the next phase of strategic development of Durrat Marina to enhance its investment and operational prospects.
The appointment award was signed by Durrat Marina chairman Fahad Bushager and CBRE Bahrain general manager Richard Botham.
Mr Bushager said that the appointment of CBRE is part of the development’s shareholders’ continuous commitment to “ensuring success through collaborations with high quality partners that have a consistent and proven track record”.
The CBRE official said the firm was pleased to be appointed as adviser for the next strategic phase of development at Durrat Marina.
“It is an exciting vision that the executive management has set in place for Durrat Marina; to combine its current components (world-class residential, commercial, leisure and marine services) with its up and coming product offering is sure to contribute to an energetic environment that people aspire to belong to,” added Mr Botham.