MANAMA: Durrat Marina, a marina-based real estate project, has signed an agreement with civil and building construction firm Tamcon for the development of 18 residential villas within its masterplan.

Present at the signing were Durrat Marina chief executive Waleed Saffy, chief investment officer Othman Janahi and Tamcon chief executive Abdulla Alabbasi.

The agreement will result in the development of a new residential zone with a total area of approximately 5,600sqm.

Each of the 18 villas sits on a plot of around 310sqm, and offers waterfront and canal views.

Development works are expected to be completed within 24 months from groundbreaking, the company said.

Lying just north of Durrat Al Bahrain, Durrat Marina comprises three interconnected islands.

The project is valued at approximately $1.5 billion and includes residential, commercial, and leisure facilities, as well as a yacht club and dedicated marina services.

The first phase of the residential component, including villas and apartments, has been developed and delivered, and the first commercial spaces are also ready on-site.

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