Gulf Construction Online

Regional News

Update

01 August 2016

Agility eyes investment in Kharafi

Kuwait’s Agility said it was in preliminary talks about potentially investing into construction firm Kharafi National.

Agility, the Gulf’s largest logistics firm, was reviewing all possible investment opportunities in the Kuwaiti company, it said.

Owned by the wealthy Al Kharafi family, Kharafi National is one of the largest construction companies in Kuwait. It is involved in infrastructure project development in water, waste water treatment and district cooling among other services.

Arabtec JV raises $283m for work

Contractors working on Bahrain International Airport have raised BD107 million ($283.6 million) in financing to support their work on the modernisation of the airport, the lenders said.

The facility covers the bonding and working capital requirements of the joint venture completing the work, according to Mashreq which arranged the facility. Jordan’s Arab Bank also joined the financing.

The joint venture includes Dubai-listed Arabtec Holding and Turkey’s TAV Construction (TAV), which was appointed to complete the main work for the $1.1-billion modernisation and expansion project in January.

Bahrain Duty Free plans expansion

Bahrain Duty Free plans to make an investment of BD6 million ($15.7 million) for a nearly three-fold expansion of its footprint at Bahrain International Airport (BIA), according to Bahrain Duty Free Shop Complex managing director Abdulla Buhindi.

The project comes in the wake of the $1.1-billion BIA expansion which aims to increase the airport’s annual capacity to 14 million passengers.

Behbehani builds storage facility

Behbehani Brothers has started construction of a multi-storey car storage facility and logistics unit in Bahrain. The project will help facilitate the expansion of the group’s operations and offer value-added services to its customers.

The contract has been awarded to Skyline Trading Corporation, in collaboration with Elevations Architects, SJM Engineering Consultants and Behbehani Solutions.

Scheduled for completion by the first quarter of 2017, the facility comprises a multi-storey facility which can accommodate up to 1,000 cars, a cafeteria, nine quick service workbays, eight pre-delivery inspection bays, and a workshop. The facility will cater to Volkswagen, Porsche, Cherokee, Jeep and Dodge customers who can enjoy a quick turnaround for routine and minor service work.

Egypt to develop $337m city

1Egypt is to develop a new residential city at El Alamein, a town located on the Mediterranean Sea in the northern governorate of Matrouh, at a investment of E£3 billion ($337 million).

The Ministry of Planning is preparing a plan of the first phase of the New El Alamein city, which will come up over a 33.6-million-sq-m area on the north-western coast of Egypt, reported the Daily News Egypt.

The first phase will include a tourism development, part of the downtown area, and the residential area. A contract for infrastructure work has been awarded to Arab Contractors (Osman Ahmed Osman & Co) and Société Egyptienne D’entreprises (known previously as Mukhtar Ibrahim).

Firm to deliver 1,286 homes in 2017

Egypt’s Al Ahly For Real Estate Development Company is set to hand over 1,286 housing units in Amwaj project by early next year, said a report.

The project is being developed at a cost of E£2 billion ($225.2 million) at Sidi Abdel Rahman bay on the North Coast, 25 km of Alexandria region, reported Amwal Alghad, citing its chairman Hussein Sabbour.

Al Ahly would carry out giant expansions in its Amwaj project over the next two years which will involve building of some hotels as part of the leisure facilities, said Sabbour.

Secon builds four-star hotel

Saudi-Egyptian Construction Company (Secon) has signed up hospitality chain Hilton Worldwide to manage a hotel it is building in New Damietta, Egypt.

The four-star hotel will be part of Secon’s tourism residential project which holds investments of E£120 million ($13.3 million), the Daily News Egypt reported.

The project will be implemented on an area of 17.7 acres, of which the hotel covers 8,800 sq m with a capacity of 130 rooms and suites. The hotel is slated to be inaugurated in mid-2018, Secon’s CEO Darwish Hassanain said.

Ezdan saves water at developments

Qatar’s Ezdan Real Estate Company has installed about 262,000 water-saving devices in more than 15,000 of its Al Wukair residences, resulting in a reduction of up to 60 per cent in overall water consumption.

Group COO Dr Mousa Al Awwad said the group also plans to upgrade its compounds in Doha, hotels and malls into water-saving facilities.

Ezdan Real Estate acting general manager Omar Al-Yafey said all new projects are equipped with the latest water saving technologies. These include Ezdan Oasis, which will have more than 9,000 units, and whose first phase will be operational by early next year.

Heliopolis to build treatment plant

Egypt-based Heliopolis Company for Housing and Development has announced plans to set up a water tertiary treatment plant in capital Cairo at an investment of E£100 million ($11.2 million).

A suburb in northeastern Cairo Governorate, New Heliopolis City will boast key residential areas besides educational, recreational, commercial, administrative and medical facilities, clubs and open areas and green areas, and golf course spread over 5,888 acres of land. A contract would be signed between Heliopolis and National General Contracting & Supplies Company, an affiliate to the ministry of defence, for the water tertiary treatment plant.

Italy’s Anas to build Iran highway

Iran has signed a deal with Italy’s highway agency Anas for the construction and management of a 1,200-km road project that will cost €3.6 billion ($4 billion), Anas said.

The road will link the Gulf port of Bandar Imam Khomeini to Bazargah on Iran’s border with Turkey.

The first stretch of highway covering 350 km will be completed by 2022 at a cost of €600 million ($329 million), Anas said.

Meethaq to finance Oman factory

Omani Islamic banking firm Meethaq has partnered with Ceramica Al Hae’l, an Omani-Qatari company, to provide financing facilities to build a factory for producing ceramic and porcelain products.

The tiles and fittings production unit will be constructed in the wilayat of Sur, the Oman Observer said.

The agreement was signed by Mohammed Hae’l Al Omar, chairman of Ceramica Al Hae’l, and Sulaiman Al Harthy, deputy chief executive officer at Meethaq.

“The agreement fits within the company’s strategy to support cooperation with local partners, and provide added value to the economy,” Al Omar said, adding that
Ceramica Al Hae’l would benefit from financing options that are compatible with the provisions of Islamic Sharia law.

Qatar opens interchange bridge

Qatar’s Public Works Authority (Ashghal) has opened a new bridge to traffic for commuters heading to Doha via the North Road Corridor.

The new bridge is located at Izghawa Interchange, and is an integrated part of North Road Enhancement Project. Izghawa Interchange and its surroundings have undergone large-scale reconfigurations to create better road access, and approximately 80 per cent of the works at the site are completed.

The bridge will ease traffic flow for motorists coming from Duhail area and north of Qatar University.

Maalem to deliver homes in 2017

Egypt-based Maalem Group for real estate development is set to hand over a range of residential projects by the beginning of next year, said a report.

The projects include 12 residential towers in New Cairo, three of which would be delivered in 2017, reported Amwal Alghad, citing the company’s marketing manager Islam Amer.

The total number of residential units in the new buildings is estimated at 128,000 units, he said.

$526m revamp awaits approval

A project to revamp the Manama Central Market in Bahrain at a cost of BD200 million ($526 million) has still not been approved, six months after it was suspended pending a major government review.

The Capital Board of Trustees is also awaiting approval on an approximately BD1.3 million ($3.42 million) budget allocated to patch up the 41-year-old market until the redevelopment scheme is given the green light.

The massive revamp project was unveiled in a special ceremony in August 2011 but a lack of investors meant it never went ahead. Tashgeel for Commercial Buildings Management was awarded a contract to come up with a new concept for the market but has since been granted repeated one-year extensions.

RMK appoints manager for tower

RMK Projects, the developing arm of RM Kooheji group, has appointed the Bahrain-based Impact Estate as the property and facility management company for its recently completed Nasmah West residential project in the kingdom.

The freehold tower, with 124 two-bedroom apartments and three-bedroom penthouses, is located in the Juffair district of Bahrain. The property comprises a rooftop swimming pool, a fitness centre, squash court, party hall and covered parking. Impact will provide full management services including maintenance and assistance with units handover.

Vectrus lands Qatar contract

Vectrus, a provider of infrastructure asset management, information technology (IT) and network communication services, said one of its subsidiaries has won a $26-million modification to a base operations and support services contract in Qatar.

The deal was awarded to Vectrus Systems Corporation by The Army Contracting Command of the US. The cost-plus-fixed-fee contract, first awarded in September last year, is for day-to-day base operations and maintenance for the area support group in Qatar, as well as its tenant organisations at Camp As Sayliyah, and Camp As-Sayliyah-South. The contract is expected to be completed September 2017.