Press Releases

Gulf Holding Company awards US$ 216-million Downtown Al Areen construction Contract to Ahmed Mansoor Al Aali Co.

16th December 2007

•. To include retail and residential areas, offices, supermarket, hotel .

In a milestone development marking significant forward movement on Bahrain’s first truly downtown district, Downtown Al Areen, Gulf Holding Company (GHC) today announced that it had awarded the USD216-million (BD 81.3-million) Downtown Al Areen construction contract to Ahmed Mansoor Al Aali Co. B.S.C (C) on a design build basis.

As per terms of the contract, Ahmed Mansoor Al Aali Co. will be responsible for construction of the Main Boulevard including retail, residential areas, offices, supermarket, hotel. Construction will begin in the first quarter of 2008 and is scheduled for completion in end of 2009 .

Commenting on the award of the contract, Mr Ahmed Al Ameer, Vice Chairman & Chief Executive Officer, GHC, said: “Downtown Al Areen was conceived with the aim of providing Bahrain with its first truly Downtown district and in the process significantly contributing to the Kingdom’s booming tourism sector. The award of this contract marks a significant forward movement towards making this goal a reality. Given the nature and scope of this strategic project. It was absolutely essential that we appoint the best qualified partners especially those with vast local experience. After an exhaustive global tendering process we found Ahmed Mansoor Al Aali Co. best suited for this assignment.”

ATKINS is the main designer of the Downtown Al Areen, which is a much talked about emerging tourism destination in the Al Areen Development. It is located in the heart of the world-class leisure destination. Spread over 260,000 square metres, Downtown Al Areen is a singular mixed use model of sustainable urban development, which is expected to galvanize the tourism appeal and attract a wider range of visitors to the Kingdom of Bahrain and the region. The project will include a “ Town Square “, the first of its kind in the region, in addition to a school, recreational facilities and retail outlets.

Commenting on the appointment Mr. Jalal Al Al Aali – Vice Chairman & CEO, Ahmed Mansoor Al Aali Co. said: “We are extremely glad and proud to have been selected by Gulf Holding Company to undertake this prestigious Downtown Al Areen assignment. Given our vast experience we are confident that we will deliver this challenging assignment within the stipulated time-frame and while maintaining the high quality standards set out by GHC.”

Ahmed Mansoor Al Aali Co., which was established in 1948, is one of the largest and longest-established contracting and construction companies in the Kingdom of Bahrain. The group’s diversified and fully integrated activities include construction and contracting (EPC), industrial infrastructure, manufacturing and processing (building materials), construction equipment and heavy commercial vehicles, trading and real estate development. The Group has an annual turnover in excess of US$ 300 million. With over 20 divisions, subsidiaries and joint ventures, it employs more than 5,000 people and serves the needs of clients in the public and private sectors.