Manama: - Global real estate advisor, CBRE, has been appointed by Naseej BSC, a leading real estate developer in the Kingdom of Bahrain, to exclusively manage and lease the retail component of Canalview, its flagship mixed-use development located in the prestigious Island of Dilmunia.

Valued at BD28.5m, the CanalView project features 246 luxury freehold apartments across four 7-storey buildings and two levels of retail facilities overlooking a grand canal, waterfall and main fountain. The retail component spans a total of approximately 5,200 sqm gross lettable area (GLA) with 26 retail units, leasable to cafes, restaurants, fashion boutiques, entertainment centers and other retail services and hospitality outlets. CanalView’s waterfront retail area provides vast outdoor spaces, with a ground floor promenade and upper floor terraces adjacent to the canal, spanning a length of 1.6 km and extending to the Dilmunia complex and other developments on the island of Dilmunia.

Commenting on the partnership, Mr. Ahmed Al Hammadi, General Manager of Naseej, said: “We are very pleased to announce the official appointment of CBRE to oversee the property leasing aspect of CanalView’s retail complex. It is fundamental for us to ensure that the retail component is properly managed in order to deliver CanalView’s promise as an integrated, mixed-use development that combines modern living with a lifestyle of luxury.”

Richard Botham, Senior Director & General Manager at CBRE Bahrain, comments: “CBRE is proud to have been appointed by Naseej to support with the retail component of Bahrain’s newest real estate landmark. This modern, luxury apartment project in the heart of Dilmunia, a developing community master plan, offers an attractive waterfront destination for retailers and consumers alike. We anticipate that both residents and visitors will be offered a unique experience, with the dining and retail experiences on the promenade overlooking the canal and fountains. We are truly privileged to add a development of this quality to our portfolio of locally-managed assets in Bahrain.”

CanalView was officially inaugurated by His Excellency Shaikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister of Bahrain, during a grand opening ceremony and event held on the Project’s premises in November 2021.

More about Canal View:

The development provides easy access by walk to the Mall of Dilmunia and surrounding areas of Dilmunia, including the Padel Club Dilmunia and Nadine School’s new campus that will be completed in early 2023. Residents and visitors can take a stroll along the main promenade and use the walkways via the footbridges and pedestrian passages, taking in the beautiful views of the grand canal and open sea.

The project also includes a wide range of facilities and services for residents. There are two outdoor swimming pools for adults and children, as well as an indoor pool and a private gym equipped with the latest fitness equipment. Residents also benefit from a multi-purpose sports court, and barbecue areas. A reception center and a private social lounge are also among CanalView’s main facilities for residents to enjoy.

Over the recent months, CanalView has been witnessing a significant increase in the uptake of its apartment sales with the launch of the fully furnished apartments receiving positive feedback from buyers locally and regionally.

It is important to note that CanalView has received international recognition by UK- based International Property Awards for two consecutive years receiving the awards for “Best Mixed-Use Real Estate Development”, “Best Retail Project”, “Best Residential Apartment Interior”, “Best Residential Development Project in Bahrain” and “Best Apartment in Bahrain”. CanalView has been awarded these 5 outstanding awards between the years 2020-2022, with four of those awards being 5-star award recognitions celebrating best-in-class achievements.  

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About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.