New hotel project to boost Bahrain economy
Manama, November 20, 2011
A key five-star hotel project will generate more than 2,000 jobs and inject more than BD300 million ($797 million) into Bahrain's economy.
The Four Seasons Hotel in Bahrain will also boost the kingdom's employment and real estate sectors.
Belgian company Six Construct has been awarded the contract for the project within Bahrain Bay, the $2.5 billion waterfront development in Manama.
'The project is predicted to result in direct and indirect economic benefits for Bahrain that will equal BD300 million over the next five to seven years, which not only has obvious beneficial fiscal effects, but is also a very positive statement of confidence in the country as a business destination,' said Bahrain Bay Development chief executive officer Bob Vincent.
He added the project will generate employment that will benefit local workforce.
'The commencement of the main contract for the Four Seasons Bahrain Bay is seen as an important commitment to re-invigorating construction in Bahrain and bringing a fresh focus to real estate lending by local banks.'
'In addition, there will be flow-on effects of more than 2,000 jobs during construction, participation by local Bahrain sub-contractors and suppliers during the development and more than 700 permanent jobs,' he said.
The first phase of the hotel project, which included the moving of more than 40,000 cubic metres of earthwork and the pouring of more than 7,000 cubic metres of concrete, was completed in the summer.
The 201-metre, 50-storey hotel will have 263 guest rooms; a five-star spa and leisure facilities; suspended 'Sky Pod' restaurant; first-class banqueting and conferencing facilities; four fine dining outlets and panoramic views for guest rooms and suites.-TradeArabia News Service