$3bn seahorse is sunk

The developer behind Bahrain’s biggest offshore island development is working up a new scheme after the US $3 billion (BD1.1 billion) Two Seas project was canned.

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By  Sean Cronin Published  May 13, 2006

The developer behind Bahrain’s biggest offshore island development is working up a new scheme after the US $3 billion (BD1.1 billion) Two Seas project was canned. The 11 million m2 seahorse-shaped development was announced in May 2005, but less than a year later, the project’s backers have pulled the plug. Developer, Dala, and consultant, Scott Wilson have both confirmed that they are no longer involved in the mega-project. And now Dala is working on a scaled-down development on part of the site originally earmarked for the Two Seas. “We were consultants on that project, which has been shelved, so we are not in the best position to say what is the future course of action. We are no longer working on it,” said a project coordinator at the Scott Wilson office in Bahrain.

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