Construction & Real Estate
OCI unit wins $552m Saudi stadium deal"
A unit of Egypt's Orascom Construction Industries (OCI) won a SAR2.07 billion ($552 million) contract to design and build a major sports stadium in Saudi Arabia's Jeddah, a source close to the deal said in late September. The contract for a 60,000-seat stadium at the King Abdullah Sports City was awarded to Six Construct -- which is fully owned by Besix Group, itself a 50-50 joint venture between OCI and Belgian construction group Besix -- in partnership with Al-Muhaidib Contracting Company. Six Construct with local company Al-Muhaidib had bid for the project against at least five other groups. The King Abdullah Sports City is planned to cover an area of 9-square kilometer, north of Jeddah. Oil firm Saudi Aramco was given the task of developing the scheme on behalf of the government in 2009. It has since tendered road building and enabling works for the project. OCI, Egypt's biggest listed firm, posted a 15% rise in second-quarter net profit and has said it expected construction orders to grow this year as governments in the Middle East try to create jobs by boosting infrastructure spending. Source: Reuters"
Bahrain-Qatar causeway to be redesigned"
Construction work on the $5 billion Qatar-Bahrain Causeway is expected to begin after a major redesign is completed, said a senior government official. “The GCC governments’ decision to have a railway inter-connecting the six states has meant the whole project has to be redesigned to accommodate it,” said Bahrain’s Works Minister Esam Khalaf. Khalaf was speaking at a dinner meeting of the Bahraini French Business Club at the K Hotel, Juffair. “All environmental and other clearances for the project have been obtained and construction should begin immediately after the re-design has been completed.” He said consultants on the project are now in the re-design process. “That is where the project now stands.” Khalaf said on the Bahrain side, a major revamp of the Alba Roundabout-Nuwaidrat junction, which is to begin shortly, will be a ‘feeder’ road to the new causeway. The 40-kilometer causeway is expected to have four vehicle lanes and two railway lines and will start from Askar village on the eastern side of Bahrain, extending to Ras Ishairij in Qatar. Source: TradeArabia News"
Hyundai E&C wins $434m deal in Qatar"
South Korea-based Hyundai Engineering & Construction recently announced it had won a $434 million order to build a national museum in Qatar. The leading construction firm said it had secured the final contract from Qatar Museums Authority to build the museum on a site of 46,000-square mile in the country's capital Doha. The company added in a statement that it expected the construction work for the facility to take 33 months. Source: Reuters"
Al Hilal breaks ground on flagship project"
Abu Dhabi-based Al Hilal Bank broke ground on its flagship commercial development located at the heart of the Sowwah Island mixed-use development in the UAE capital. The 120 meter-high tower will boast of over 34,000 square miles of office space and 700 square miles of retail area available for leasing, the Islamic bank said in a statement. Al Hilal’s tower will be strategically positioned at the center of the capital’s downtown district, upcoming developments at Al Reem Island and Mina Zayed, and the new cultural district on Saadiyat Island. It will also offer exceptionally efficient, Class A office space to leading national and global firms, it added. It will have direct access to three main island roads and the upcoming Central Park, Cleveland Clinic Abu Dhabi and the Abu Dhabi Stock Exchange, the statement said. The project completion is scheduled for the last quarter of 2013, it added. Commenting on the launch, chairman Ahmed Ateeq Al Mazroui, said, 'Al Hilal Bank is very proud to commence work on our key contribution to Abu Dhabi’s 2030 Vision. Our tower supports Sowwah Island’s mission of drawing in world-class organizations to redefine Abu Dhabi’s business landscape.' Sowwah Island and adjacent edges of Al Mina, Al Reem and the Abu Dhabi Islands are designated as Abu Dhabi City’s Central Business District under the Capital 2030 urban structure framework plan. Source: TradeArabia News"
Drake & Scull wins $19m contract in Kuwait"
Drake and Scull Kuwait (DSK), a subsidiary of Drake & Scull International, secured a $19.87 million contract to execute and coordinate the complete MEP works for an administrative block and mosque for a public sector client in Kuwait. The project will be completed by November 2013, a statement said. DSK is also eyeing additional projects in the thriving Kuwaiti domestic construction sector set to post a 2.4% growth to $2.4 billion this year, it added. The company recently won in the second quarter a set of social, cultural, sports and recreational projects collectively worth Dh155 million ($42.2 million), managed to sustain its strong 2011 performance and retain its status as one of Kuwait’s top Mechanical, Electrical and Plumbing (MEP) specialists securing projects valued at Dh230 million since the beginning of the year, according to the statement. Source: TradeArabia News"
Bahrain plans historical landmark revamp"
The Bab Al Bahrain post office, a historical landmark in the Manama suq in Bahrain, is to be given a revamp in a bid to attract more tourists and locals to the area. The post office is being transformed into a museum commemorating the history of the country's postal service. The project is part of the Culture Ministry's revitalization of Bab Al Bahrain and the suq area. 'The renovation will focus on the historical aspects including the actual post office, which is housed in one of the few original Bahraini buildings surrounding Bab Al Bahrain,' said a ministry spokeswoman. 'The museum will showcase old Bahraini stamps and interactive exhibitions.' A large part of the suq police station will also be allocated for a permanent photography exhibition showcasing the history of Bahrain's police force. 'This project is being designed by Bahraini firm Akbari Architects and construction is due to start next month,' said the spokeswoman. 'The ministry hopes that the project will be completed in four to five months time.' Plans to restore the Bab Al Bahrain archway to its former state during the 1940s are also in the pipeline. Source: Construction Week Online"
Bahrain $106m labor township project on track"
A key phase of a BD40 million ($106 million) township in Hidd is set to be completed by the end of the year, said senior Bahrain ministry officials. This will consist of 12 buildings out of a total of 78, ranging from three to five storeys high. More than 5,000 laborers are already living in accommodation in the first phase of the project, which houses 13 buildings. It was completed in January last year and consists of 7,000 rooms. The project is being carried out by the Bahrain Investment Warf (BIW) Labour Accommodation Company, which started three years ago in an area of 120,000-square mile. It aims to give laborers access to quality accommodation away from residential areas, which has been a major issue for years. Source: TradeArabia News"