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DURRAT AWARDS CONTRACTS FOR NEXT STAGE OF VILLA CONSTRUCTION


Durrat Al Bahrain, the Kingdom’s largest planned luxury mixed-use residential, commercial and resort development - today announced the award of a further two contracts for the next stage of construction of the project’s luxury villas.

Construction of a total of 158 Villas on Atoll 1 Island is scheduled to commence in August after Bahrain-based Bokhawa company won the award of both contracts with a total value of approximately US$60 million. Delivery of these villas to the homeowners is expected from late 2007.

“We are pleased to start the next stage of development of our luxury villas with the awarding of these construction contracts,” said Mr. Jassim Al Jowder, Chief Executive Officer of Durrat Al Bahrain.

The Atoll 1 villas are part of Phase I of the development work at Durrat, which also includes the construction of 83 villas on the Petal 1 island. The construction of these villas is well underway with the foundations already laid.

Durrat Al Bahrain has been planned as a world-class residential, tourist destination, offering a lifestyle experience unrivalled in the Middle East. Upon completion in 2009, it is expected that there will be more than 60,000 full time residents as well as some 4,500 visitors a day.



Durrat Al Bahrain hosts 20 Engineering students at Landmark site


Durrat Al Bahrain today announced that it had hosted 20 engineering students, from the university of Bahrain at their resort establishment, the Kingdom’s largest planned residential, leisure and tourism resort.

The Durrat project site serves as an exceptional case study for the students, aiming to gain a better understanding of the pioneering infrastructure, land reclamation and dreading work at the development, which is well ahead of schedule.

Durrat Al Bahrain’s sales team were present to brief the students on the US$3 billion development project. The engineering students were also taken on a site tour of the island development and were briefed on the significant portion of dredging and land reclamation work required for this island themed development.

Once completed, the development will comprise of a cluster of islands. These include The Crescent, a semi-circular landmass extending into the sea, in addition to 6 Atoll Islands, 5 Petal Islands, a stand alone island set to house a 5-star family hotel and resort, a state-of-the art marina and an 18-hole golf course.

The Durrat sales team also gave the students an insight into the infrastructure development currently underway including the piling work for the project’s 13 bridges, which will connect the various islands together and to the mainland, as well as water and sewerage facilities. Work is also in progress on a highway linking Durrat Al Bahrain to Manama, with completion expected by September of this year.

Mr.Jassim Al Jowder, CEO of Durrat Al Bahrain said, “We are delighted to receive the host of students at our Durrat Al Bahrain development. We hope the tour has helped the students gain a better understanding of the dredging and land reclamation process. The work currently taking place at the development, displays the immense skill and technical expertise required to complete such a project and we are confident that the students have gained valuable exposure on our landmark site.”



BD7 MILLION CONTRACT AWARDED FOR CONSTRUCTION OF DURRAT AL BAHRAIN VILLAS


Durrat Al Bahrain is pleased to announce the award of a BD6.998 million (US$18.5 million) contract for the construction of 83 villas on one island of the residential, leisure and tourist resort, the Kingdom’s largest planned mixed-use development.

The contract, awarded to Bahrain-based Projects Construction Company, is the first of many contracts to be announced for the development of residential villas in the US$3 billion development, where dredging and reclamation work is in its final stages.

With the award of the contract for villas on Petal 1 Island, work will begin within days and the villas will take 12 months to build.

The Durrat Al Bahrain project comprises a cluster of islands and land areas that together give the development its unique island lifestyle theme. These include: The Crescent, a semi-circular landmass extending into the sea, 6 Atoll Islands, 5 Petal Islands, a stand alone island set to house a 5-star family hotel and resort, a state-of-the-art marina and an 18-hole golf course, all of which is being developed in phases.

“We are delighted to award the first contract for the construction of luxury villas on Petal 1 island,” said Mr. Jassim Al Jowder, Chief Executive Officer of Durrat Al Bahrain.

The Petal 1 villas are part of Phase I of the development work, which also includes construction of over 300 villas on Atolls 1 and 2, for which contracts will be awarded within the next three months. All of the Phase I villas, which were sold out by February 2005, will be ready for delivery to the owners from late 2007.

“There has been remarkable progress made on this landmark project and everything, from reclamation to infrastructure work, is on or ahead of schedule,” said Mr. Al Jowder.

A contract for Phase I infrastructure work, which will include power and water facilities and the building of roads, is expected to awarded within the next few weeks.

Durrat Al Bahrain has been planned as a world-class residential, leisure and commercial and tourist destination, offering a lifestyle experience unrivalled in the Middle East. It is expected to accommodate more than 60,000 full time residents in addition to some 4,000 visitors a day, upon completion from late 2010.

The Crescent, which will be the heart of the resort city, will boast 6,000 apartments, a large-scale modern shopping mall, restaurants and cafes, a piazza, public beaches and a host of community facilities, including a mosque, health centres and schools.

The Atoll and Petal Islands will provide quiet residential living, with a total of 2,000 luxury villas of different sizes, private and common beach areas, boat mooring options and breathtaking sea views.

The 400-boat, full service Marina will offer a canal-type lifestyle, with waterfront townhouses and apartments, cafes and shopping. The adjoining 18-hole championship golf course will also house a 300-room hotel and over 250 villas facing the golf course or the sea.

The Island Hotel is envisioned as a 400-room signature hotel, with private beach and an aqua park.

To facilitate access for all prospective residents, innovative ownership and financing schemes have been put in place. A freehold ownership law has opened opportunities for investment by expatriates and well-thought out financing structures, both Islamically compliant and conventional, are also in place to assist mid-level income earners to own the home of their dreams in Durrat Al Bahrain.



NASS CORP ACHIEVES MAJOR SAFETY MILESTONE ON DURRAT AL BAHRAIN PROJECT


MANAMA - 22 FEBRUARY 2006 - NASS Corporation is celebrating a major safety milestone, achieved at the landmark Durrat Al Bahrain project.

Great Lakes Nass Joint Venture, a joint venture between Nass Corp. and (US/UK based) Great Lakes Dredge and Dock Company, has achieved one million man hours without any loss time injury (LTI). The milestone has been reached after a one year of uninterrupted work at the site.

Great Lakes Nass Joint Venture are undertaking dredging etc, reclamation and shore protection works at the US$3 billion Durrat Al Bahrain site, located on the south eastern coast of Bahrain.

Senior management from Nass Corporation and Great Lakes Dredge and Dock Company attended a celebratory event at the Durrat Al Bahrain site. They congratulated the site team and workers for their dedication, hard work and commitment in achieving a safe and LTI free working environment.

Mr. Steve Newall, Project Director, extended his thanks and congratulations to the joint venture partners for their continued dedication and hard work in seeing project milestones reached thus far.

The Durrat Al Bahrain residential and leisure resort comprises 12 distinctive islands being developed over 21 square kilometres, approximately the size of Manama. The landmark development will feature luxury villas and apartments, private and public beaches, an 18-hole golf course, a full service Marina, a 5-star hotel, modern shopping mall, restaurants and cafes and a piazza, besides many other attractions suited to families.



REMARKABLE PROGRESS ON DURRAT AL BAHRAIN TRANSFORMING MAP OF THE KINGDOM


With the significant progress made on the establishment of Durrat Al Bahrain, the Kingdom’s largest planned residential, leisure and tourist resort, the Kingdom’s coastline is being transformed as the 21 sq km island paradise takes shape.

The latest satellite photographs of the area provide a breathtaking view of the US$3 billion development project, which once complete, will be approximately the size of the city of Manama.

Currently, dredging and land reclamation work are advancing to their final stages, with all of the dredging and reclamation for the project expected to be completed months ahead of schedule.

Durrat Al Bahrain is comprised of a cluster of islands and land areas that together give the development its unique island lifestyle theme. These include: The Crescent, a semi-circular landmass extending into the sea, in addition to 6 Atoll Islands, 5 Petal Islands, a stand alone island set to house a 5-star family hotel and resort, a state-of-the art marina and an 18-hole golf course, which is expected to be developed by a world renowned golf course designer and operating company.

“As reflected in the latest satellite views, there has been remarkable progress made on this landmark project, which will offer a wealth of beach-life and leisure activities for residents and visitors,” said Mr. Jassim Al Jowder, Chief Executive Officer of Durrat Al Bahrain.

He continued, “As the images project, land reclamation work is well underway and we have already completed a significant portion of the project’s main features. All 5 Petal Islands are now finished in addition to two Atoll islands, setting the stage for work to begin on the construction of over 400 villas sold as Phase 1 and 2 of the project. Villas, which were sold out by February 2005, will be ready for delivery, to the delight of owners, from late 2007.”

The project is creating some 15 to 18 kms of sandy beaches and approximately 50 to 60 kms of new seafront.

Ensuring the project is developing according to schedule, four dredgers, of which one is the tallest in the world, are on site, with dredging capacity reaching a massive 100,000 cubic metres a day.

Also moving forward at a fast pace is work on the required infrastructure for the resort community and commercial centre, which at completion in 2009, is expected to accommodate more than 60,000 full time residents in addition to some 4,500 visitors a day.

Infrastructure development currently underway includes piling work for the project’s 12 bridges, which will connect the various islands together and to the mainland, as well as water and sewerage facilities. Work is also in progress on a highway linking Durrat Al Bahrain to Manama, with completion expected by September of this year.

“Whilst we are committed to meeting all project development deadlines, we are equally committed to protecting Bahrain’s environment, including marine life,” said Mr. Al Jowder. A number of environmental impact studies, encompassing both land and sea, have been conducted, with continuous monitoring an integral part of the development work.

Durrat Al Bahrain has been planned as a world-class residential, leisure and commercial and tourist destination, offering a lifestyle experience unrivalled in the Middle East.

The Crescent, which will be the heart of the resort city, will boast 6,000 apartments, a large-scale modern shopping mall, restaurants and cafes, a piazza, public beaches and a host of community facilities, including a mosque, health centres and schools.

The Atoll and Petal Islands will provide quiet residential living, with a total of 2,000 luxury villas of different sizes, private and common beach areas, boat mooring options and breathtaking sea views.

The 400-boat, full service Marina will offer a canal-type lifestyle, with waterfront townhouses and apartments, cafes and shopping. The adjoining 18-hole golf course will also house a 300-room hotel and over 250 villas facing the golf course or the sea.

The Island Hotel is envisioned as a 400-room signature hotel, with private beach and an aqua park.

To facilitate access for all prospective residents, innovative ownership and financing schemes have been put in place. A freehold ownership law has opened opportunities for investment by expatriates and well-thought out financing structures, both Islamically compliant and conventional, are also in place to assist mid-level income earners to own the home of their dreams in Durrat Al Bahrain.



HIGH-RANKING BAHRAIN ENVOYS VISIT DURRAT AL BAHRAIN


High-ranking Bahrain envoys visited Durrat Al Bahrain, the landmark residential resort city in an advanced stage of development in the south of Bahrain.

The envoys, who were representatives of overseas offices of the Economic Development Board (EDB), Ministry of Foreign Affairs, commercial attaches and ambassadors, were in Bahrain for the EDB’s Orientation Week, which was aimed at familiarising Bahrain’s representatives overseas about the country’s achievements.

The group of about 80 representatives were given a first hand insight into the sheer magnitude of this groundbreaking US$1.2 billion project, which is equally owned by the Government of Bahrain and Kuwait Finance House - Bahrain (KFH-Bahrain).

Welcoming the dignitaries at the Durrat Al Bahrain site, Mr. Abdulhakeem Alkhayyat, General Manager, KFH-Bahrain said: “We are delighted to showcase this magnificent project, which will be a significant addition to Bahrain’s economy, a major boost to the country’s tourism industry and a landmark not only in Bahrain but in the world!

“Our vision, with Durrat Al Bahrain, is to establish a world-class concept in living. Working with W.S. Atkins - the renowned engineering design and consultancy - we have successfully developed and introduced a masterplan that builds on Bahrain’s rich natural beauty and traditional affinity with the land and sea combined with every conceivable modern amenity to make the lives of residents as enjoyable and harmonious as possible,” he said.

Durrat Al Bahrain, or the “Pearl of Bahrain” as the project has come to be known, will consist of 13 distinctive islands being developed over 21 square kilometres, approximately the size of Manama, of pristine desert and sea that lay the foundation for a world-class residential, leisure and tourist destination.

The residential and resort city will comprise 2,000 villas, 3,000 apartments and various community facilities including schools, mosques, health centres, private and public beaches, an 18-hole golf course and sports and leisure facilities specifically suited to families. In addition, a promenade featuring a marina and commercial facilities encompassing a variety of traditional souqs and modern shopping areas as well as numerous restaurants and cafes will ensure both residents and visitors a variety of activity.

It is expected that the project will be completed in its entirety from late 2010 and, at full capacity, will accommodate more than 60,000 full time residents in addition to some 4,000 visitors a day.

To facilitate access for all prospective residents, innovative ownership and financing schemes have been put in place. A freehold ownership law has opened opportunities for investment by expatriates and well-thought out financing structures, both Islamically compliant and conventional, are also in place to assist mid-level income earners to own the home of their dreams in Durrat Al Bahrain.



DURRAT AL BAHRAIN PHASE 1 DEVELOPMENT MET WITH OVERWHELMING DEMAND


- Phase Two Bookings Advanced to Accommodate Strong Public Interest -

Durrat Al Bahrain - the Kingdom’s largest planned mixed-use residential, commercial and resort development - announced today that bookings for its distinctive, luxury villas on the developing island paradise were met with overwhelming demand from both GCC nationals and expatriates, with interest exceeding the initial 390 villas on offer for phase 1 of the project’s development.

Phase one sales were launched following the unveiling of a world-class masterplan for the US$1.2 billion project, which is equally owned by the Government of the Kingdom and Bahrain and Kuwait Finance House, Bahrain in a ceremony held under the patronage of His Highness Shaikh Khalifa Bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain, and attended by His Excellency Sheikh Ali Bin Khalifa Al Khalifa in addition to some 500 dignitaries and guests.

Commenting on the phenomenal response to the project, Mr. Abdulhakeem Alkhayat, General Manager of Kuwait Finance House, Bahrain and Chairman of Durrat Khaleej Al Bahrain Company said, “The resounding success of the project to date and strong demand from investors and future residents effectively reflects Bahrain’s position as a compelling lifestyle and investment destination. We would like to express our deep gratitude to the Government of Bahrain and its forward thinking leadership for their efforts and commitment to further economic development as well as the creation of an environment that is highly conducive to investment and even greater prosperity. This is a groundbreaking project that is built upon their vision and drive and we thank them for their ongoing support.”

According to Deputy General Manager and Chief Operating Officer of Durrat Khaleej Al Bahrain Company, Mr. Jassim Al Jowder, “We are extremely pleased with the overwhelming demand we have received for our phase one sales, which exceeded even our own expectations. Spectacular demand not only saw substantial interest in the initial 390 villas on offer, but further resulted in strong interest for the next phase of bookings, which is expected for approximately one month’s time. It is clear that home owners today are seeking an enhanced quality of life marked by the ultimate in modernity, luxury and relaxation - the very features that define Durrat Al Bahrain and its unique and world-class concept.”

Designed to perfection and offering unmatched sea views, beach access and first-rate mooring facilities, all villas aim to offer residents the right balance between the latest high-tech amenities that define a modern lifestyle in conjunction with a healthy and harmonious atmosphere that is grounded in the rich and unspoilt natural desert and sea environments upon which they have been established. Phase one villas, to be established on three islands, will be delivered to owners from late 2007.

The project in its entirely, which consists of 13 distinctive islands to be developed over 21 square kilometres of pristine desert and sea, and which lay the foundation for a world-class residential, leisure and tourist destination, is expected to be completing from late 2010.

The residential and resort city will be comprised of 2,000 villas, 3,000 apartments and various community facilities including schools, mosques, health centres, an 18-hole golf course and sports and leisure facilities specifically suited to families. In addition a promenade featuring a marina and commercial facilities encompassing a variety of traditional souqs and modern shopping areas as well as numerous restaurants and cafes will ensure both residents and visitors a variety of activity. At full capacity will accommodate more than 60,000 full time residents in addition to some 4,000 visitors a day.



DURRAT AL BAHRAIN ANNOUNCES THE FORMAL MARKETING OF WORLD-CLASS PLANS FOR LANDMARK


- Bookings Begin for 390 Luxury Villas To Be Ready Late 2007-

In a ceremony held under the patronage of His Highness Shaikh Khalifa Bin Salman Al Khalifa, the Prime Minister of the Kingdom of Bahrain, and attended by His Excellency Sheikh Ali Bin Khalifa Al Khalifa and over 500 guests, Durrat Al Bahrain - the Kingdom’s largest planned luxury mixed-use residential, commercial and resort development - began the process of selling Phase 1 of the world-class masterplan for the landmark project.

The event, which marks the first comprehensive view into Durrat Al Bahrain’s unique design and lifestyle features, signifies a major milestone in the ongoing development of the US$1.2 billion project, which is equally owned by the Government of Bahrain and Kuwait Finance House, Bahrain.

Commenting on the occasion, Mr. Abdulhakeem Alkhayat, General Manager of Kuwait Finance House, Bahrain and Chairman of Durrat Khaleej Al Bahrain Company said, “This is a groundbreaking project that not only provides a unique proposition for residents but is also a significant step forward in the Kingdom’s plans to encourage and actively work towards the further development of its lifestyle and tourism sectors. The Kingdom of Bahrain and the Durrat Al Bahrain project - together - offer an unmatched lifestyle and investment opportunity and we have amassed all the technical and financial resources required for its success.”

According to Deputy General Manager and Chief Operating Officer of Durrat Khaleej Al Bahrain Company, Mr. Jassim Al Jowder, “We are delighted to present today our vision for Durrat Al Bahrain, which aims to establish a world-class concept in living. Working with W.S. Atkins - the renowned engineering design and consultancy firm with a long-standing and distinguished international track record - we have successfully developed and introduced a masterplan that builds on Bahrain’s rich natural beauty and traditional affinity with the land and sea combined with every conceivable modern amenity to make the lives of residents as enjoyable and harmonious as possible.”

Durrat Al Bahrain, or the “Rising Pearl” as it has come to be known, will consist of 13 distinctive islands to be developed over 21 square kilometres of pristine desert and sea that lay the foundation for a world-class residential, leisure and tourist destination.

The residential and resort city will be comprised of 2,000 villas, 3,000 apartments and various community facilities including schools, mosques, health centres, an 18-hole golf course and sports and leisure facilities specifically suited to families. In addition a promenade featuring a marina and commercial facilities encompassing a variety of traditional souqs and modern shopping areas as well as numerous restaurants and cafes will ensure both residents and visitors a variety of activity.

It is expected that the project will be completed in its entirety by late 2010 and at full capacity will accommodate more than 65,000 full time residents in addition to some 4,500 visitors a day.

The first phase of development which will be completing from late 2007 consists of the construction of 390 villas on three islands - two Atoll islands and one Petal island, names used to distinguish the size and design of the these unique formations.

318 villas, which range in size from 750 square metre plots to 1,000 and 1,500 square metres, will be situated on the larger Atoll islands, while 72 villas, built on 500 square metre plots, will be established on the smaller Petal island.

Designed to perfection and offering unmatched sea views, beach access and first-rate mooring facilities, all villas aim to offer residents the right balance between the latest high-tech amenities that define a modern lifestyle in conjunction with a healthy and relaxed atmosphere that is grounded in the rich and unspoilt natural desert and sea environments upon which they have been established.

Now available for booking, these villas offer prospective residents an ideal investment for life and one that is well suited for both Gulf nationals and expatriate families.

To facilitate access for all prospective residents, innovative ownership and financing schemes have been put in place. A freehold ownership law has opened opportunities for investment by expatriates and well-thought out financing structures - both Islamically compliant and conventional - are also in place to assist mid-level income earners to own the home of their dreams in Durrat Al Bahrain.

Bookings are currently being taken for Durrat Al Bahrain villas on January the 15th from 11am - 10pm and on the 16th and 17th from 10am - 10pm at the Al Noor Ballroom, Ritz Carlton Hotel in Bahrain. Alternatively, interested parties can contact sales associates for Durrat Al Bahrain on +973 17556999.



H.H.the Prime Minister of the State of Kuwait visits Durrat Al Bahrain


In the framework of his brotherly visit to the Kingdom of Bahrain, His Highness Sheikh Nasser Al-Mohammad Al-Ahmad Al-Jaber Al-Sabah, the Prime Minister of the State of Kuwait visited Durrat Al Bahrain on Friday, July 8th, 2011.

 

H.H. was accompanied during the visit by His Highness Sheikh Ali bin Khalifa Al Khalifa, Deputy Prime Minister and the Kuwaiti ambassador to the Kingdom of Bahrain, and other senior officials. Upon his arrival to Durrat Al Bahrain, H.H. was received by Mr. Abduhakeem Alkhayyat, Managing Director and CEO of Kuwait Finance House - Bahrain, Chairman of Durrat Al Bahrain, Mr. Jassim Al Jowder, CEO of Durrat Al Bahrain, and members of the Board of Directors.

 

H.H. was briefed about the project and the progress made, H.H. also visited some of the islands and villas and listened to an explanation by Mr. Alkhayyat about the projects, its objectives, stages, its positive impact on the Bahraini economy, and the future phases that will be implemented.

 

H.H. expressed his admiration of the project, its pace of progress and its world class standard.  H.H. expressed his best wishes for success in the completion of all phases of this vital project.

 

H.H. Sheikh Nasser also stressed on the keenness of the Government of Kuwait to strengthen all aspects of relations with the Kingdom of Bahrain, particularly in the economical and investment field, and its full support of all joint ventures between the two countries, adding that his government will provide all the facilities that enable the private sector in both countries to play its part in the development.

 

Commenting on this ocassion, Mr. Abdulhakeem Alkhayyat expressed his deep thanks and appreciation to H.H. Sheikh Nasser Al-Mohammad Al-Ahmad Al-Jaber Al-Sabah the Prime Minister of the State of Kuwait for visiting Durrat Al Bahrain, and for his valuable comments and guidance.



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