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Sat 13 Sep 2008 04:20 AM

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Bahrain Chamber chasing bidders

The Bahrain Chamber of Commerce and Industry (BCCI) has unveiled plans to demolish their existing headquarters and build a new high-rise development in the heart Manama.

The Bahrain Chamber of Commerce and Industry (BCCI) has unveiled plans to demolish their existing headquarters and build a new high-rise development in the heart Manama.

BCCI vice-treasurer Saqer Shaheen told Construction Week the Chamber is inviting investors and financial institutions to submit a proposal by November 6.

"We are looking for somebody to take over the project on a BOT basis - build, operate and transfer," he said.

"Investors come to us with a design and financial proposal, we will select the best proposal, they will then construct and operate the building where we get an annual income and then it will eventually be transferred back to the BCCI."

"The project could cost up to US $185 million (BHD70 million) depending on the proposal, which we hope to finalise by February."

Shaheen said the 4,600m2 site is valued at more than $40 million and located opposite the Bahrain Financial Harbour.

"We're open to any design but it will have to merge with the surroundings," Shaheen said.

"Bahrain Financial Harbour has a high-rise tower, the World Trade Centre is also next to us, and so it would have to blend in with this environment."

"We are thinking of something like a 50-storey tower or two or three towers. The area is big enough to have a commercial centre or office blocks or shopping malls."

Shaheen said the only limitation placed on the design is the municipality's population density regulations, restricting the building to 55,200m2.

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