Turner wins billion dollar Bahrain reclamation prize
Bahrain-based Arcapita lifts the lid on mega-projects that are worth around US $1.3 billion.
Turner International has been awarded the construction management package on a US $1 billion reclamation project announced this week by Bahrain-based Arcapita Bank.
The mega-project, which is set to launch in December 2005, will be built to the north-east of Manama.
The announcement comes as part of two major real estate projects totalling $1.3billion.
The first will involve the reclamation and development of more than 400 000 m2 of land opposite the diplomatic area next to the Sheikh Isa bin Salman causeway.
The development will include high-end waterfront
residential developments with apartments, condominiums and penthouses, as well as marinas, cafés and restaurants and a number of public areas and promenades.
The two anchor developments will be a Four Seasons hotel development in addition to the new Arcapita headquarters building.
The ‘iconic and futuristic’ architectural designs for both buildings were performed by Burj Dubai architect Skidmore Owings and Merrill (SOM).
Arcapita chief executive Atif Abdulmalik, said: “We are extremely proud to introduce a project with distinctive design, strategic location and world-class development partners, which will make it a landmark development for Bahrain and the Gulf region.”
The second development to be sponsored by Arcapita is
the $300 million Riffa Views project which is expected to be launched in September 2005.
The residential scheme will be built around the 18-hole Riffa Golf Course.
It will offer 750 single family units and will be a gated community with sporting facilities and a country club.
As part of the development, the golf course will be redesigned and modified to championship standards that will enable the hosting of PGA events.