MOURJAN Marinas IGY has signed an memorandum of understanding (MoU) with Global Real Estate Development Company (Gredco) for the development of two marinas as part of the upcoming Marsa Al Seef project in Bahrain.

Gredco is a subsidiary of Global Banking Corporation (GBCORP), the developer and financial adviser of Marsa Al Seef, the premier maritime lifestyle destination in Bahrain.
Under the terms of the agreement, Mourjan Marinas IGY, which is an international marina developer and operator of leading marinas around the world, will be responsible for the development and operations of two major marina facilities within the Marsa Al Seef project.

Development of the luxury waterfront project is scheduled to begin later this year and will include exclusive hotels, extensive dining establishments and retail space set to establish Marsa Al Seef as one of the region’s premier marina lifestyle destinations.
Mourjan Marinas IGY will formally participate in the staged development of two major marina facilities within the project that will cover approximately 26 million sq ft of Bahrain’s northern coast, building a new metropolis hosting substantial marina upland including yacht clubs as well commercial and residential establishments.
Marsa Al Seef is conceptualised as the ultimate maritime lifestyle destination, a waterfront residential leisure city and one of the most exclusive waterfront developments in Bahrain and in the Middle East. The proposed development will be a self-contained waterfront city with extensive residential and leisure components and necessary commercial opportunities.
Strategically located with easy access to the Bahrain International Airport, Saudi Causeway and the upcoming Bahrain-Qatar Causeway, Marsa Al Seef will serve as a business hub as well as incorporating leisure, retail and entertainment with world-class amenities and commercial opportunities for investors.
Michael Horrigan, CEO of Mourjan Marinas IGY, said: “This venture enhances our dedication to the successful development of maritime lifestyles in the region and allows us to begin the new decade by contributing to the planning and design of this exciting new project for Bahrain.’’
Maher Al Shaer, CEO of Gredco, said: “Marsa Al Seef will greatly benefit from the Mourjan Marinas IGY expertise in creating a truly world-class maritime lifestyle destination.”