The first phase of Dilmunia’s infrastructure is valued at $22.5 million and will take 24 months to be completed but will enable the completion of various sub-developments within the same timeframe, meaning that end-users can be handed the keys to their units by mid-2015.
“We are proud to partner with Cebarco Bahrain, one of the largest and most reputable construction companies in the Kingdom,” IDC’s Chief Executive and Member of the Board, Mohammed Khalil Alsayed, said.
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 contractor will be working closely with infrastructure designers Mott MacDonald Limited and cost consultants DG Jones & Partners to deliver the services for the landmark project.
“The award of infrastructure works for Dilmunia signals a solid vote of confidence by developers and investors alike, on Bahrain’s immediate prospects as also for the longer term,” Alsayed, added.
Dilmunia at Bahrain is a mixed-use project built on man-made island that has already come up off the coast of Muharraq in Bahrain. With a unique Health and Wellness anchor, Dilmunia will include residences, hotels, leisure and shopping districts, and provide residents and visitors with hospital facilities, spas and state-of-the-art wellness services in a resort-type environment.
Dilmunia aims to tap into the fast-growing health and wellness industry, which, as reported by Deloitte Centre for Health Solutions, is estimated to have exceeded US$100 billion globally by the end of 2012. In addition to this, Dilmunia’s location in close proximity to the Bahrain International Airport, and its easy access to Saudi Arabia via the King Fahad Causeway, gives it further appeal to international investors.
“Dilmunia, and the uniqueness of its concept, continues to generate interest from potential end-users, sub-developers and operators alike. We look forward to a busy 2013 in which we will initiate further development on the island,” Alsayed, added.