Villamar@The Harbour relaunched

Bahrain-based Gulf Holding Company (GHC) has signed a final sukuk restructuring agreement with Rajhi Bank and GFH Financial Group to officially mark the relaunch of the Villamar@The Harbour project at the Bahrain Financial Harbour.

The agreement follows considerable progress on the Bahrain project by GHC over the past year including key milestones related to important legal and technical assessments and studies in addition to the reactivation of the site, which has been handed over to the project contractor Al Hamad Contracting.

According to Majed Al Khan, the executive board member of GHC, significant progress has been made onsite, supported by the efforts of more than 400 workers, a number that is expected to grow significantly as the project advances.

Haya completes wastewater plant

Haya Water, a major government-owned water reuse company in Oman, has completed the trial operation of the second phase of Al Buraimi sewage treatment plant (STP) expansion project, which will provide an additional capacity of about 2,000 cu m per day, said a report.

This is in addition to the existing STP in Al Buraimi Governorate which has a capacity of 3,000 cu m per day, reported the Oman Observer.

The move is in line with plans to boost wastewater projects across the sultanate. The scope of work included the setting up of a special unit that separates the oil waste before the wastewater arrives at the main unit and a facility to receive wastewater carried by sewage tankers.

Kuwait signs masterplan 2040 deal

Kuwait Municipality has appointed a global consortium comprising Dar and Perkins+Will to draw up Kuwait’s fourth masterplan, in line with the vision of His Highness the Emir to transform the country into a commercial and financial hub by 2040.

The municipality, in cooperation with the Kuwait Direct Investment Promotion Authority (KDIPA), has embarked on measures to identify the areas in the country where foreign firms will be allowed to operate with no local agents,and permitted to own property with tax and customs exemptions.

Zawaya unveils residential complex

Oman-based real estate company Zawaya Development has launched a key residential and commercial complex under the brand of Al Noor Projects in the heart of Madinat Sultan Qaboos (MSQ), a suburb of capital Muscat, said a report.

The RO7-million ($18.1 million) complex, which is spread over a 9,000-sq-m area, boasts 87 units including 66 one-, two- and three-bedroom residential apartments, 10 two-storey three-bedroom units, five office spaces and six commercial units, reported the Oman Observer.

The project, which is under construction, is expected to be handed over within the first quarter of 2018, stated the report, citing a top official.

UD Trucks names Mideast chief

Japanese trucks manufacturer UD Trucks has appointed Mourad Hedna as the group president for the Middle East, East and North Africa (Meena) region, assuming responsibility for the brand from Lars-Erik Forsbergh who moves to Singapore to head the Volvo Trucks operations in southeast Asia.

Hedna was previously vice-president (Powertrain Business Strategy) for Volvo Group in Sweden, and has been working for the Volvo Trucks Group since 1996.

He was appointed to the new position by Jacques Michel, senior vice-president (sales area international), in November 2016 and is responsible for all UD Trucks operations across the Meena region.

Oman STP commissioned

Haya Water, a major government-owned water reuse company in Oman, has completed the commissioning of the recently expanded sewage treatment plant (STP) project in the Al Jebel Akhdar area of the sultanate, said a report.

The STP has a total capacity of up to 600 cu m per day, reported Oman Tribune.

The treated water is now being used for irrigation and reforestation. The project also provides an opportunity to connect more existing or newly constructed houses near the wastewater network, it added.

Bidbid-Sur road moves ahead

Oman’s Ministry of Transport and Communications has opened a major part of the first phase of the 115-km Bidbid-Sur road project following its completion.

With the opening of the 4-km-long road, which connects Al Multaqa and Al Farfarah bridges, the total length of the road opened for traffic is 81 km, according to the Muscat Daily.

Dukhan Highway Central ... now 95 per cent complete.

Qatar highway set for Q1 launch

Qatar’s Public Works Authority (Ashghal) said it has completed 95 per cent of the work on Dukhan Highway Central project which is on track for official opening in the first quarter of 2017.

The project, which forms part of Ashghal’s Expressway Programme, will establish a 15-km strategic link from the west of Doha to Al Sheehaniya and other key future public venues and residential areas, said Ashghal.

It is being constructed by a joint venture contractor Consolidated Contractors Group and Teyseer, with WS Atkins & Partners Overseas serving as the supervision consultant.

Lotus Complex launched

Oman-based Al Sedrah Real Estate has launched the Lotus Complex, the company’s debut project at Ras Al Hamra in the Qurm region of the sultanate, said a report.

The high-end residential project has 110 apartments of which 40 are one-bedroom units, 65 two-bedroom and the rest three-bedroom units, reported the Times of Oman.

The complex is a five-floor project, with many restaurants, shopping centres and a mini mall on the ground floor and two-level underground parking.

Work on the luxury residential project is progressing well and on track for delivery within the next two years, said the report.

New fishing harbours for Oman

Oman is developing eight more fishing harbours and ports of varying sizes as part of a comprehensive plan to bolster the fisheries sector, a report said.

By 2020, as many as 30 fishing harbours or ports are expected to be operational, against 20 such ports now, Dr Hamed Said Al Oufi, undersecretary of fisheries wealth at the Ministry of Agriculture and Fisheries, was quoted as saying in the Times of Oman report.

“We have completed Barka fishing harbour while two other harbours – Al Musanna and Liwa – are at an advanced stage of completion. Also, we have five other fishing harbours in the pipeline, which include Masirah, Mahout and Shuwaimiya,” he added.

Sanitary ware sector to grow at 9pc

Qatar’s sanitary ware market is projected to grow at a compound annual growth rate (CAGR) of over nine per cent during 2016 to 2021, said a report by TechSci Research, a global management consulting firm.

Growth in the market is anticipated on account of increasing hygiene-consciousness, the growing hospitality sector, rising disposable income, high urbanisation rate and booming commercial sector, stated TechSci in its report titled “Qatar Sanitary Ware Market By Product Type, By Application, By Organized Vs Unorganised, Competition Forecast and Opportunities, 2011 – 2021”.

Moreover, introduction of technologically-advanced sanitary ware, increasing construction in the wake of Fifa 2022 and the government’s vision to develop the country by 2030 are expected to boost the demand for sanitary ware in Qatar through 2021, said the report.

Some of the leading players operating in the country’s sanitary ware market include RAK Ceramics, Toto, Kludi, Jaquar and Hewi.

Tanfeedh plans scaffolding unit

Oman’s Tanfeedh Lab, the national programme for enhancing economic diversification, has proposed to build a world-class scaffolding manufacturing project near the Sohar Industrial Estate.

It identified fabrication of metals as one of the manufacturing sectors that offered potential for growth. The fabrication of scaffolding and its parts may be included along with manufacturing of downstream aluminium and steel products. 

The three-phased project is expected to take 44 weeks and will be led by potential investors and supported by Petroleum Development Oman.

Egypt to tender airport expansion

Egyptian Airports Company (EAC) is preparing a tender for the expansion of Sharm El Sheikh International airport, said a report.

EAC plans to expand Terminal Two and increase its capacity by two million passengers per year, thus taking the total capacity of the airport to 9.5 million, reported Daily News Egypt, citing a source.

The Ministry of International Cooperation has signed a loan agreement worth $457 million with the Islamic Development Bank (EDB) for funding the development of the airport with the addition of a new passenger terminal, it stated.

This also includes the construction of a new runway with a width of 60 m for large aircraft and 40 new air sides.

The planned expansions would increase the airport’s capacity to 18 million passengers annually, the report added.

Manara launches $11m project

Bahrain-based Manara Developments Company has begun development of a $11-million project called Workshops – Investment Gateway Bahrain.

The project will come up on a cluster of plots in the Investment Gateway Bahrain and spans a total area of 58,885 sq ft, where each building will occupy 10,777 sq ft for a number of industrial activities such as blacksmith workshops, furniture assembly, carpentry, automotive services, commercial warehousing services, glass manufacturing services and packaging, export platforms, commercial showrooms, and other activities.

The project consists of five three-storey buildings, comprising commercial showrooms, service workshops and labour accommodation. It is set to be delivered at the end of 2017.

Ramee Group buys stalled tower

UK-based property firm Savills said it has sold Juffair Views, a 26-storey part-completed residential building in the northern Juffair area of Bahrain, at an auction for BD3.6 million ($9.48 million).

The auction took place on December 20, under the guidance of the Committee for Stalled Real Estate Projects. This is believed to be the first of its kind to be held in Bahrain.

The bids, which started at BD3.5 million ($9.2 million) quickly went up to BD3.6 million ($9.48 million) and was sealed by Ramee Group.

Juffair Views has a built-up area of 18,771 sq m.

Egypt to offer prime land

The Egyptian government is set to offer 2,500 acres of land in new cities to real estate developers and also increase the budget of New Urban Communities Authority (Nuca) to E£50 billion ($3.24 billion) in the next fiscal year, said a report.

The Egyptian Ministry of Housing is working on developing the real estate sector through two projects, reported the Daily News Egypt.

The first is the development of the new administrative capital, which is set to occupy 168,000 acres of land (roughly double the size of New Cairo), and the second is the development of new cities in order to transform Egypt into an international hub, it stated.

Solar power plan for Bahrain homes

New solar technology will be installed in Bahraini homes allowing people to generate their own power.

It will be implemented in the mid-2017 and could save the country nearly $270 million a year, said Electricity and Water Affairs Minister Dr Abdulhussain Mirza.

He revealed details of the scheme during the opening of a three-day conference on renewable energy last month (December).

Cargo centre for Muscat airport

A cargo village with services for both export and import activities has been proposed for development at Muscat airport.

The Muscat Airport Cargo Village will be set up on an area of 30,000 sq ft and is expected to create a revenue of RO30 million ($77 million) in addition to revenues through auxiliary activities, the Oman Observer reported.

At present, the lack of storage facility prior to import, export and re-export discourages overall transshipment throughput in the country, it said.

The village will be able to handle 250,000 tonnes of cargo when completed in four years, it added.

Over 218,000 rooms under way

The Middle East and Africa (MEA) hospitality market is witnessing solid growth with a total of 218,800 rooms under construction in the region.

Of this, about 159,922 rooms in 560 projects are under contract in the Middle East region, stated STR, a leading provider of global hotel data, in its November 2016 Pipeline Report.

The under-contract data includes projects in the in-construction, final planning and planning stages but does not include projects in the unconfirmed stage.

Among the MEA countries, Saudi Arabia topped the list with most rooms (37,864 rooms in 83 hotels) in the in-construction stage followed by the UAE with 26,889 rooms in 97 hotels, and Qatar with 8,748 rooms in 36 hotels, stated the STR report.

Hidd Heights ... a Bin Faqeeh project.

Bin Faqeeh signs escrow agreement

Bin Faqeeh, a Bahrain-based privately-owned real estate investor, has signed an escrow agreement with Khaleeji Commercial Bank (KHCB) for its Hidd Heights project.

Hidd Heights is a 13-storey building located in Hidd adjacent to Khalifa bin Salman Park.

It offers fully furnished studios, one- and two-bedroom apartments, with facilities that include a swimming pool, gymnasiums for men and for women, sauna and steam room.

Alargan launches Waha Phase Two

Alargan Towell has launched the second phase of its Al Waha Project providing quality housing in Barka, Oman, a report said.

The 690,000-sq-m Al Waha residential community is one of the newest integrated residential projects including villas and apartments of various sizes, Oman Observer reported.

The integrated project features landscaped gardens, and commercial space, as well as schools, mosques and other amenities, it added.

Qatar to build entertainment hub

Qatar’s Economy and Trade Ministry has invited bids for the construction of an entertainment and tourism complex in the capital Doha, said a report.

The project, comprising shops, restaurants, car parks and entertainment and tourism facilities, will be located at the old Doha Exhibition Centre and will have an area of around 84,875 sq m, reported Zawya Projects citing Qatar-based Arabic daily Sharq.

The project will be offered to the private sector on a 25-year basis, stated the report citing an official.

The successful bidder will be announced in April, it added.

Al Ramli Housing project.

Bahrain to deliver 25,000 homes

Bahrain’s government is set to deliver 25,000 residential units by 2018 in line with His Majesty King Hamad’s directive to build 40,000 housing units across the kingdom over the coming years, said a report, citing the country’s housing minister.

Reaffirming the ministry’s commitment for the project, Housing Minister Basim bin Yacob Al Hamer said the delivery of a sustainable housing model is a key priority for the government, reported BNA.

The Ministry of Housing was working on further expanding its public-private partnerships (PPP) programme and expects a substantial number of new and innovative programmes to come on stream, including the Al Ramli project, the East Sitra project, Danat Riffa, Danat Seef and the apartment rehabilitation programme, said a report.

The ministry has also tied up with Eskan Bank on a number of projects, it added.