Kuwaiti contractor wins $20.9m palace tenderon Jan 14, 2013
Al Arabi Holding Group has announced that one of its subsidiaries has won a $20.9m (KWD: 5.88m) tender to design, build and maintain new botanical gardens at Bayan Palace.
The company has been appointed by Al Amiri Diwan to build the gardens at the palace, which is the headquarters of Kuwait's Amir and the ruling family.
The company said that it expects to make a 3% margin on the contract, which will take nine months to complete.
A palace was first built on the site by Sheikh Mubarak al Sabah in 1904 and it has been expanded several times since. The Amiri Diwan building within the palace's grounds now serves as the official offices of the Amir as well as around 125 staff.
Al Arabi Holding Group has several subsidiary companies involved in construction, engineering, agriculture, medical equipment, aviation and telecoms.
The firm will celebrate its 50th anniversary this year.
- Damac Properties launches investor relations app
- Drake & Scull CEO attributes loss to legacy issues
- First phase of Dubai public smart parking complete
- Arabtec gets regulatory nod for recapitalisation
- Hotel chain plans women-only resort in Doha
- Saudi to open a record 68 hotels in 2017
- Kahramaa project honoured as best PPP Deal 2016
- France ready to support Qatari SMEs
- Drake & Scull limits general contracting to UAE
- GCC continues to invest in Dubai property market