Gulf Holding names Bahrain project manager
Manama, April 8, 2012
Gulf Holding Company, the owners of the integrated residential and commercial complex 'Villamar@the Harbour' in Bahrain, have signed up UK-based consultancy Mace to manage the project’s construction and delivery.
Villamar is the first integrated residential complex within the Bahrain Financial Harbour, offering a mix of serviced apartments, hotel rooms and residential accommodation within three twisting towers.
The project comprises over 800 residential units; from luxury penthouses and Sky and Terrace Villas, to apartments and luxury hotel rooms, and combines other facilities including a health club and spa, swimming pools and other recreational amenities.
Mace, a leading project and construction management consultancy, said it will prepare a new project development plan in order to recommence construction work as soon as possible.
As per the deal, Mace will be providing full management services from the beginning of the restarted development process through to design, construction and the final handover and after care services.
The project has suffered delays due to the financial crisis which affected numerous other development projects around the region, and which were further exacerbated by the political unrest the Kingdom saw at the beginning of 2011, said Gulf Holding Company.
The construction of the Villamar project stands at approximately 50 per cent completed. The key development, which was launched in 2007, is expected to resume construction soon, it added.
The options will be reviewed against alternative financing mechanisms to ensure that delivery of the project is in coordination with the project’s funding.
A Business plan will be finalized and contract documents prepared and amended in order for the works to begin. Sales have begun with Tower B, making the programming of these works a priority, said the company.
The appointment followed the recent signing of a MoU with Al Hamad Construction and Development Company to make them partners and resume works on the project.
'We are looking forward to the success of this project and the fruitful cooperation with Mace as our new project managers,' remarked Matthew Austin, the general manager of Gulf Holding Company.
'With this agreement in place, we are now able to progress with the development of the project, with construction set to begin within the coming few months, and with the aim of having the structure and glazing substantially completed as soon as possible,' he stated.
'We are also currently in discussions with an operator of first class hotels to provide an exciting brand to the whole development,” he added.
On the appointment, Andrew Johnson of Mace said: 'We are very excited about this partnership with Gulf Holding and are looking forward to starting work on Villamar immediately.'
'This is a prominent site and a significant mixed use development in the heart of Bahrain’s capital and Mace is excited about the prospect of working with Gulf Holding on this project.'
'Preparatory work will begin as soon as possible, and we are committed to being a part of completing the project successfully and efficiently,' he added.-TradeArabia News Service