Al Aali wins $216m contract for Bahrain project
Gulf Holding Company yesterday said that it has awarded a $216 million (Dh792m) construction contract for Downtown Al Areen to Ahmed Mansoor Al Aali Company.
Al Aali will be responsible for the construction of the Main Boulevard including retail, residential areas, offices, supermarket and hotel. Construction will begin in the first quarter of 2008 and is scheduled for completion at the end of 2009, Gulf Holding said in a release.
Gulf Holding Vice-Chairman and Chief Executive Ahmed Al Ameer said: “Downtown Al Areen was conceived with the aim of providing Bahrain with its first truly downtown district and in the process significantly contributing to the country’s booming tourism sector. The award of this contract marks a significant forward movement towards making this goal a reality. Given the nature and scope of this strategic project, it was essential that we appoint the best qualified partners – especially those with vast local experience. After an exhaustive global tendering process we found Ahmed Mansoor Al Aali best suited for this assignment.”
Atkins is the main designer of Downtown Al Areen, which is positioned as an emerging tourism destination in the Al Areen development. It is located in the heart of the leisure destination.
Spread over 260,000 square metres, the development is a mixed-use model of sustainable urban development, which is expected to galvanise the tourism appeal and attract a wider range of visitors to the Kingdom of Bahrain and the region.
The project will include a Town Square, the first of its kind in the region, in addition to a school, recreational facilities and retail outlets.
Al Aali Vice-Chairman and Chief Executive Jalal Al Aali said: “We are extremely glad and proud to have been selected by Gulf Holding Company to undertake this prestigious project.”
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