First Bahrain hands over title deeds to Home Owners
First Bahrain Real Estate Development Co announced today that they have officially begun the transfer of title deeds to buyers who acquired homes in their residential project El Mercado Village, in Janabiya during the construction phase.
“We are very pleased to have begun handing over the title deeds to the current homeowners of our beautiful residential project, El Mercado Village. Going forward, we are ready to make immediate transfer of title deeds for all new sales,” stated Omar Altemiemy, Chief Executive Officer of First Bahrain.
“We would like to thank RERA for improving confidence in the real estate market to buyers to purchase their desired villa off plan through the security and peace of mind offered by the new escrow system. We would also like to thank the Notary offices and the Survey & Land Registration Bureau of the Kingdom of Bahrain for their support in concluding the formalities of registering and transferring title to our esteemed home buyers,” stated Omar Altemiemy, Chief Executive Officer of First Bahrain.
El Mercado Village consists of 42 premium homes, which include 8 four-bedroom standalone villas and 34 three-bedroom semi-detached villas, over 50% of which have been taken. The remainder are ready for immediate occupancy and title deed transfer on receipt of payment.
El Mercado Village is a beautiful mixed-use community in Janabiya, located next to an upscale neighbourhood mall. The homes are designed to offer modern amenities with a classic touch conveniently located on a quiet street just off Avenue 27, offering a direct ride home from Manama in the evenings or the quickest morning commute to Saudi Arabia of any villa in the country. The outdoor retail center is anchored by an Alosra supermarket which features a range of cafés, shops and services to meet the needs of the surrounding community.