Al Hamad wins $380mn Harbour deal

Gulf Holding Company has handed a $38 million construction contract to Al Hamad Contracting Company to build the first residential complex in the Bahrain Financial Harbour.

Work on its signature project ‘Villamar @ the Harbour’ is expected to be completed by 2010. Total investment in the project is estimated at $620 million.

Ahmed Al Ameer, vice chairman and CEO of Gulf Holding said in a statement Al Hamad was selected from an “in-depth audit of a host of highly competitive bids submitted by regional and global construction majors vying for this highly distinguished project.”

The project, which includes a design concept of twisted towers falls within Gulf Holding’s ‘Signature Series’ Al Ameer said. Built along ‘focused design’ principles, it features next generation security systems and automated covered walkways to shield tenants from the harsh sun.

Nashat Farhan Sahawneh, chairman of Al Hamad Contracting said the development is considered by specialists as “amongst the most difficult and challenging assignments both from a technical as well as a logistics point of view.”

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