A project of Capital Land of Singapore, Raffles City Bahrain is an integrated residential, serviced residential and retail development with a total land area of 43,883 square meters and gross development area of 287,697 square meters. The project is being developed on reclaimed land and forms part of the Bahrain Bay master plan, a prestigious development off the north eastern coast of Manama, Kingdom of Bahrain. Project cost was estimated at US$ 810 million out of which US$ 630 million was placed in the market. The placement was closed in April 2007.

Piling works commenced in December 2008 and is expected to be fully completed in April 2009. To date, 65% of the excavation works and 35% of the overall sub-structural works have been completed. It is anticipated that sub-structure works will be complete in Q3 2009.

Super-structural works is scheduled for full completion in 2012. Tender documents were issued on September 10, 2008 but the tender exercise was suspended to take advantage of the decline in construction costs and redesign of project components in light of competitive environment. Target date for the re-issue of tender is Q2 2009.

In accordance with the marketing plan, the private sales launch of Raffles City Bahrain commenced in June 2008. This was followed by public sales launches tied to major property exhibitions in the GCC. Raffles City Bahrain was awarded the CNBC Arabian Property Awards for Best Property, Bahrain in November 2008.