Mace wins First Bahrain project deal
Manama, April 15, 2008
First Bahrain Real Estate Development Company has appointed Mace Group to project manage its signature $450 million development in Bahrain’s Seef district.
Mace will be responsible for managing construction planning, project schedules, operational and construction issues and procurement strategy, said a statement.
The announcement coincides with the recent appointment of an international architectural firm to master-plan the 21,000 sq m development which will feature a hospitality complex including a Sharia’a-compliant five-star hotel and serviced apartments along with office and residential towers.
Welcoming the agreement with Mace, Amin A Al Arrayed, general manager of First Bahrain said: “A development as large as our Seef project needs to be carefully managed. Working with the best people is paramount to success and we believe that Mace is the right partner with a level of understanding and experience to bring the development to fruition. We now have a team in place that can deliver a world class facility. Our next step will be to work alongside them on the appointment of the lead contractors and subcontractors.”
The award-winning Mace Group has been responsible for some of the world’s most iconic buildings in recent times including Venetian Macau, the London Eye, the British Museum and Singapore Sands.
Commenting on the project, Andrew Johnson, director of Mace in Bahrain, said: “Mace is delighted to work alongside First Bahrain in the realisation of its vision. The Seef development is one of the most pioneering and innovative developments in the Kingdom and we look forward to successfully working with First Bahrain over the next three years to ensure the on-time completion of the project.”
First Bahrain is a leading regional real estate developer with a paid up capital of $113 million. Its principal shareholders are leading and regional institutions including Global Investment House.
First Bahrain will be the primary developer for approximately 30 per cent of the prestigious project, focusing predominantly on the hospitality components. It will be seeking partners and institutional investors to co-develop the remaining segments of the project, said the statement. – TradeArabia News Service