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Sun 23 May 2004 04:00 AM

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Phase one of BFH Financial Centre goes to Al Hamad

Engineering and construction contract for the $250 million Financial Centre at Bahrain Financial Harbour awarded to UAE-based contracting company

Bahrain Financial Harbour (BFH) has signed a Contract with Al Hamad Contracting Company for the engineering and construction for phase one of the Financial Centre of BFH. Construction for phase one is set to begin later this year.

The contract was signed by Esam Janahi, chairman, BFH, and Nashat Sahawneh, general manager, Al Hamad at a signing ceremony held at the Bahrain Financial Harbour Customer Relations Centre.

“After a rigorous tender process Al Hamad was selected based on its track record of successful development projects of similar scope in the region,” said Esam Janahi.

The total estimated project value of the first phase of work on the financial centre is US $250 million and will create over 2000 jobs. The centre includes the development of the Dual Towers, Financial Mall and Harbour House. Construction of phase one will take approximately three years and over 6000 jobs will be created over the lifespan of the BFH project, which is expected to be completed in six years.

“Today marks a significant milestone in the development and evolution of BFH as our vision becomes a reality. Construction for phase one of BFH, the Financial Centre, begins this month and will be completed by March 2007. BFH is the first of its kind in the region, a holistic City Within A City development integrating finance, commerce, leisure, lifestyle and the arts,” said Janahi.

“This important initiative for Bahrain creates jobs and spin off benefits for our country. The Financial Centre has been developed as a fully contained financial services centre in response to Bahrain’s status as the financial capital of the Middle East. BFH also supports the Government’s social and economic plan and we are very grateful to the Government and the people of Bahrain for their continued commitment and support for BFH,“ he added.

The contract for phase one includes the engineering and construction of the Dual Towers, which are each approximately 71 000 m² and at 50-levels high will be amongthe tallest buildings in Bahrain.

The Financial Mall will also be built, this is an eight-level building with a total area of around 78 300 m². Furthermore, the Harbour House, a nine-level circular building with a diameter of 28 m is also set to be built.

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