A partnership between Eagle Hills and Emaar Hospitality Group will create a new mixed-use waterfront project which will include 3,500 high-end apartments, a cruise terminal and a traditional souq.
Marassi Al Bahrain will be located in the community of Diyar Al Muharraq, and will be project managed by local builder Diyar and Eagle Hills.
The development will be a 865,000 square metre waterfront destination, offering luxury hotels and restaurants as well as 3,500 apartments, a statement said.
Philippe Zuber, CEO, Emaar Hospitality Group, said: "Marassi Al Bahrain is a landmark development that will usher in new lifestyle choices for the country. Emaar Hospitality Group is set apart by our exceptional track-record in managing integrated projects that include hotels and serviced residences, and this core competency is a driving force of our rapid international growth.
"Expanding to new markets has always been part of our development strategy, and our strong operations in Dubai have instilled in us the confidence and competency levels to meet region-specific hospitality requirements across new markets.”
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The development will house business centres, shopping, leisure and entertainment venues, a cruise terminal and a souq.
Both The Address Hotels + Resorts and Vida Hotels and Resorts in Marassi Al Bahrain are integrated within a new 190,000m2 lifestyle, the statement added.
The Address Marassi Al Bahrain hotel will feature 110 rooms including 17 suites, while there will be 130 apartments in The Address Residences Marassi Al Bahrain.
Vida Marassi Al Bahrain hotel will feature 160 rooms while Vida Hotels and Resorts will also manage 140 branded serviced residences.
Dr Maher Al Shaer, CEO of Diyar Al Muharraq and managing director of Marassi Al Bahrain, said: "Marassi Al Bahrain will have significant benefits for the Bahraini economy, in terms of both job creation and boosting tourism.
"We are also proud as a local developer to be partnering with Emaar Hospitality Group for our hotels and serviced residences, who have a track record of quality leisure destinations through their three existing hotel and serviced residence brands."
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