AbuDhabi Investment House (ADIH) has awarded the construction contract for TheLagoon Bahrain project to a leading Bahrain-based construction firm, AhmedMansoor Al A'ali Company (AMA).
RashadJanahi, CEO of ADIH, said: "AMA was selected after a thorough evaluation of agroup of short-listed bidders that included local and internationalcontractors.
"Thehigh standard of work provided by the firm for the Bahrain Financial Harbourproject, together with an exceptional performance record, has encourages us toaward AMA the construction remit of The Lagoo Bahrain," he said.
Headded: "The award of the construction contract to AMA also highlights ourintention to support the local industry in the market that we are investingin."
"Inthis instance, we have confidently selected a best-of-breed Bahraini company toplay this significant role in The Lagoon Bahrain project."
Accordingto Nicholas Fraser, executive director of real estate at ADIH, the developmentof The Lagoon Bahrain is well on track: "We are enthused by the great responseto the project from local, regional and global investors and can re-confirmthat more than 60 per cent of the project has received contracted ‘intention topurchase' from investors.
"Also,the piling activity at The Lagoon Bahrain is progressing well ahead ofschedule, with more than 50 per cent of the 1,042 piles already cast and ontarget to meet the mid-October piling completion."
Theaward of the construction contract came shortly after Davenport Campbell, thearchitects of The Lagoon Bahrain, had unveiled the final version of the scalemodel of the project.
"Thefinishing touches to the project's landscaping and interiors have now beenmade. This signifies the rapid pace at which the landmark project is beingdeveloped," explained Janahi.
The Lagoon is a waterside retail and dining destination on Amwaj Islandsoff the coast of Muharraq in Bahrain. It is a day and night time venue with thedevelopment strategy highlighting a vibrant night time environment. The projectwill emphasize Bahrain's urban development plans and attract Bahraini familiesand singles, as well as tourists.
Gulf Construction, October 2006
