Monthly Archives

May 2014

Boost for Housing Segment

By | Press Release

Housing Ministry signed BD18million deal to implement the first stage of East Hidd City, a project that envisages the construction of 4,523 public housing units.

The work of the project, which is being funded by the Kuwait Government, will be carried out in several phases and the first phase will start within a month, it was learnt. The multi-million deal was signed with Kuwait’s Khalid Al Kharafi and Brothers and Kingdom’s Nass Group (Nass Contracting).

At the behest of the Housing Ministry, Minister Basim Alhamer signed the deal with Sameer Nass of Nass Group and Al Kharafi Brothers Chairman Walid Al Kharafi. The first phase intends to complete 483 housing units within a period of 18 months, while the second phase will witness the construction of 400 units, for which the work is expected to start within the next two months. Speaking to Media, Mr. Alhamer said, “The implementation of the project is just a starting point in the history of the Kingdom’s housing sector.” He highlighted that it was for the first time four major housing projects were being implemented simultaneously.“

Five hundred and thirty units are being established in the Northern City, in addition to the reclamation operations being carried out in Eastern Sitra, apart from the ongoing works at East Hidd and Salmabad,” he pointed out. Thanking the brotherly nation of Kuwait for the generous support towards establishing the project, Mr. Alhamer hailed the support of His Majesty King Hamad bin Isa Al Khalifa, Prime Minister HRH Prince Khalifa bin Salman Al Khalifa and Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister HRH Prince Salman bin Hamad Al Khalifa towards public housing projects.


Diyar awards Dragon City deal to Nass Contracting

By | Press Release

A multi-milliondollar Chinese-themed retail development within the Diyar Al Muharraq master-planned project will get underway shortly with the award of the construction contract. Urban developer Diyar Al Muharraq has appointed Nass Contracting for the construction of phase one of Dragon City, which will take 14 months for completion.

The signing ceremony was held at Diyar’s stand on the first day of the Gulf Property Show yesterday.

The project is being developed by Dragon City, a subsidiary of Diyar Al Muharraq, and the mall will be operated by Chinamex Middle East. It is expected to open in June next year.

“Set in the southwest corner of Diyar Al Muharraq, spread over 115,000 sqm, Dragon City is a first-of-its kind development in Bahrain,” Diyar Al Muharraq chairman Abdulhakim Alkhayyat said.

“It has a gross floor area of circa 51,000 sqm, approximately 700 individual retail store spaces, warehousing of 5,000 sqm, a dining street of 6,000 sqm and car parking for 1,500 vehicles.

“Dragon City will offer discount and retail opportunities to local consumers, trade customers and tourists, and cater to both wholesale and retail consumers as well,” he said.

Offering a variety of Chinese products such as home appliances, household items, building materials, furniture, toys, machinery, garments, textiles, footwear and general merchandise, the mall is targeting between one and two million visitors a year.

Nass Contracting chief executive Ghazi Nass said the company was confident of delivering as scheduled.

“We guarantee that we will comply with the highest standards of construction which reflect the values of Diyar Al Muharraq,” he added.

“Dragon City is strategically aligned with our mission to offer huge potential for growth and innovation in retail sector,” Diyar Al Muharraq chief executive Dr Maher Al Shaer said.

“Using the show as a platform, we will display to the world how competitive we can be, as Dragon City is a highly strategic development within the Diyar Al Muharraq masterplan that offers opportunities yet to be equalled in the uniqueness of its vision and theme,” he said.