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A mixed commercial tower
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Project Information :

Place:

Manama Seafront area

Category:

Valuation

United Tower – A mixed commercial tower

This distinctive project encompassed a remarkable 49-story twisting skyscraper with four basement levels, elegantly positioned across a 4,587 square meter expanse in Bahrain’s bustling Central Business District (CBD). The tower’s outstanding stature holds a total Gross External Area (GEA) of 115,300 square meters, of which 58,780 square meters are designed as Net Internal Ara (NIA) under the IPMS 3A classification. This dynamic establishment serves several functions, accommodating a wide range of commercial activities such as restaurants, retail shops, conference spaces, office units, 13 floors dedicated to hotel rooms, and elegant ballrooms.

The valuation was done specifically for mortgage purposes, requiring a thorough approach. The Profit Method was used to effectively assess the hotel segment, leveraging average daily rents, RevPAR and the All Risk Yield (ARY) determined from comparable sets of similar hotels as well as their linked services such as restaurants, meeting spaces, and ballrooms. The Traditional Investment Method was used with caution value retail and office properties, taking into account both monthly rental rates and ARY in the context of comparison. The perfect synthesis of these diverse components resulted in a full evaluation, producing the Present Market Value of this exceptional property.