Kuwait Finance House Bahrain (KFH-B) has signed a contract with Kooheji Contractors, a leading Bahraini construction company, to build six mock-up villas at Diyar Al Muharraq.
The construction will commence immediately and the villas are scheduled to be completed in October 2011 for viewing by potential buyers.
KFH-B issued this tender last April and specified to potential contracting companies the importance of adhering to strict construction deadlines. It was also stipulated that the contracting companies operate according to the highest international building and construction standards. Nineteen major Bahraini contracting companies participated in the bidding and KFH-B selected the best tender according to stringent criteria, including quality of construction and commitment to the projects’ standards and characteristics.
This project is considered to be one of the largest residential projects undertaken by the private sector in Bahrain, where between 2,500 and 3,000 housing units will be developed within KFH-Bahrain’s flagship real estate development project, Diyar Al-Muharraq. The overall project is planned to be developed in several phases. The first phase is expected to start in October 2011 once the mock-up villas are completed, along with commencement of the sales of the housing units.
“We are pleased to award the contract to build the mock-up villas to Kooheji Contractors. This contract honors our commitment to work with the very best companies which have a strong track-record in developing the country’s well-known projects. Being one of the leading local companies, we are confident that Kooheji Contractors will demonstrate the highest level of competency to deliver the mock-up villas on schedule,” Abdulhakeem Alkhayyat, the Managing Director and CEO of KFH-B said.
“Kooheji Contractors is honored to have been awarded this contract. Diyar Al Muharraq is one of the most prestigious developments in the Kingdom and it is our privilege to be associated with it. We are committed to delivering reliable, innovative and professional services to our clients and this commitment is shown through our dedication to apply the most advanced technologies available and employ the most efficient and advanced construction methodologies in the market to deliver the mock-up villas with quality, safety and commercial sharpness,” Abdul Ghaffar Kooheji, Managing Director of Kooheji Contractors, said.
It is expected that this project will stimulate several important sectors of the Bahraini economy, especially for small and medium enterprises. The developers will focus on building distinct units in design and detail, with prices not to exceed BD100, 000, depending on the type and size of the housing unit.