Firm wins $1.6bn Dilmunia infrastructure contract
Developer Ithmaar awards first phase tender for health island project
Ithmaar Development Company (IDC), subsidiary of Ithmaar Bank and developer of the $1.6bn Dilmunia Island in Bahrain, has awarded the first phase infrastructure to Cebarco Bahrain.
The infrastructure package covers road, power, water, drainage, communications and landscaping across the island’s 125 hectares, as well as a bridge crossing Dilmunia's ‘grand canal’.
The first phase of this infrastructure is valued at $22.5m and will take 24 months to be completed, staggered to allow sub-developments to also be completed and handed over by mid-2015.
Mohammed Khalil Alsayed, IDC’s CEO, said, “We are proud to partner with Cebarco Bahrain, one of the largest and most reputable construction companies in the Kingdom for the project.”
Cebarco Bahrain, part of KAR Group, is known for their work on the Formula One Circuits in both Bahrain and Abu Dhabi, Bahrain City Center and a number of infrastructure projects.
The man-made Dilmunia island, already out of the waters off the coast of Muharraq, has a health anchor, but will also include residences and retail in a resort-styled environment.
Cebarco Bahrain will be working closely with infrastructure designers Mott MacDonald Limited and cost consultants DG Jones & Partners to deliver the services for the landmark project.
Alsayed remarked: “The awarding of infrastructure works signals a solid vote of confidence by developers and investors alike on both Bahrain’s immediate prospects and the longer term.”
Dilmunia aims to tap into the fast-growing health industry, which, it is reported by the Deloitte Centre for Health Solutions, is estimated to have exceeded $100bn globally by the end of 2012.
The island has both close proximity to both Bahrain International Airport, and its easy access to Saudi Arabia via the King Fahad Causeway, appealing to both international and local traffic.
"Dilmunia aims to turn the Kingdom of Bahrain into a world class health tourism destination, attracting investment and creating thousands of highly skilled jobs in the process," Alsayed added.
“We look forward to a busy 2013 in which we will initiate further development on the island.”