Regional News

GHC signs up Cowi for $700m Villamar project

January 2016

Gulf Holding Company (GHC), a Kuwait-based investor, has appointed Danish engineering consultancy firm Cowi to provide consultancy services for the construction work related to its $700-million integrated residential and commercial complex Villamar at the Harbour project in Bahrain.

The project consists of three twisted towers and 850 residential units in total, including lifestyle apartments with one- to five-bedrooms, floating sky villas, retail outlets and a boardwalk at the heart of Bahrain Financial Harbour (BFH).

This appointment is considered as a vital step toward the relaunch of construction of the project that is expected to accelerate during the first weeks of this year.

Under the deal, Cowi will oversee the construction works carried out by the contractor, ensuring its compliance with high-level specifications and design intended for the project.

The move comes following the review of the existing structure by local and international experts to facilitate the integration of the existing structure into the new construction activities.

Villamar at the Harbour was launched in 2006 but halted after the 2008 global financial crisis with the towers halfway complete.

Meanwhile, site preparation works have commenced at Bahrain-based GFH’s $150-million The Harbour Row at BFH, a mixed-use project comprising luxury residences and a promenade with a trendy commercial element.

Elias Karaan, the head of Real Estate Development of GFH Financial Group, said: “The swift commencement of site preparation works at The Harbour Row following the project launch in October is a positive development for us and our investors and stakeholders. Our team worked diligently with design consultants, architects, and engineers to conceptualise and conceive this unique waterfront scheme.”

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