daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > Skyscrapers

Skyscrapers Discussions of projects under construction between 200-299m/650-999ft tall.
» Proposed Skyscrapers



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old August 31st, 2015, 08:38 PM   #1
lady gaga
Mod
 
lady gaga's Avatar
 
Join Date: Jun 2011
Location: Khartoum
Posts: 15,176
Likes (Received): 845

MANAMA | Villamar | 220m - 137m | 721ft - 449ft | 54 fl | 52 fl | 43 fl | U/C

Name of the project: Villamar

Country: Kingdom of Bahrain

Location: Bahrain financial Harbour in Manama

Type of development: luxerious floating residential units and luxurious hotel

Floors: 54, 52 and 43 storeys

Status: was on hold for a while and now its official back U/C




heights mentioned by local news that the 3 twisted towers are going to range from 137 m to 220 m





Bahrain’s $650m Villamar project to restart

Michael Fahy



August 2, 2015 Updated: August 5, 2015 02:16 PM



Quote:
Topics: Bahrain
Gulf Holding Company (GHC), the developer of the long-delayed Villamar project close to the Bahrain Financial Harbour complex, has said that work is restarting after the restructuring of the project’s finances.

The US$650 million project comprises three twisting towers of 54, 52 and 43 storeys, which are to contain a hotel and apartments.

GHC said that it had signed a restructuring deal with support from the project’s original financier Al Rajhi Bank, new funder GFH Group (GFH) and the contractor, UAE-based Al Hamad Contracting.

As a result, it said cranes had been moved back on to the site to restart work and the project is now due for completion in two years.

Villamar was initially launched in 2007 when GHC awarded a $380m construction contract to Sharjah-based Al Hamad Contracting.

Initially it was due for completion in the first quarter of 2010, but stopped midway through construction as the financial crisis caused projects to stall across the Arabian Gulf.

Protests in Bahrain also caused issues for the local property market.

However, in February, Bahrain’s government announced that it had passed a law aimed at restarting many of the kingdom’s major stalled real estate projects, and last month the deputy premier Sheikh Khalid Al Khalifa, who also heads Bahrain’s ministerial committee on reconstruction and infrastructure, held a meeting aimed at advancing Villamar’s future.

GFH Group told Dubai’s Financial Market that it will finance the project’s completion and cover funding shortfalls to the tune of $50m.

Hisham Alrayes, the GHC chairman, said the project would now be completed in phases, with all structural work completing as part of phase one, and the interiors of a retail and leisure mall on podium floors plus the apartments on the 43-storey Tower B being completed first.

More than 50 per cent of these have already been sold, but once complete it will use the remaining funds from their development to fit-out the interiors of the rest of the project. An agreement is in place with an as-yet unannounced hotel operator to take on the 52-storey Tower C.

“They might be the operator of the whole project, but that is still under negotiations,” Mr Alrayes said.

He said that Villamar was one of the most high-profile projects in Bahrain due to its location, and added that its recommencement was a “strong signal” for Manama’s development market.

“We expect it to be a good driver for the Bahrain market in general and the Bahrain Financial Harbour in particular,” said Mr Alrayes.

“With this agreement now in place, we are able to advance construction and work toward the completion of another landmark project in Bahrain,” said Nashat Sahawneh, the chairman of Al Hamad Construction
































__________________

Munwon, oscillation, VK liked this post
lady gaga no está en línea   Reply With Quote

Sponsored Links
Old August 31st, 2015, 08:46 PM   #2
lady gaga
Mod
 
lady gaga's Avatar
 
Join Date: Jun 2011
Location: Khartoum
Posts: 15,176
Likes (Received): 845

Signing of agreement turns lights on Villamar again






Mr. Hisham Alrayes, Chairman of Gulf Holding Company.


Quote:
Restructuring agreement for Villamar signed with major project parties
(Manama, 01 August 2015) - Gulf Holding Company (GHC), developers of the Villamar project, announced today the signing of restructuring agreements with support from Al Rajhi Bank (original majority financiers of the project), GFH (the project's new financiers) and Al Hamad Construction (the project's contractor).

Based on the terms of the agreements, remobilization has started on the mixed-use, residential project based in the Bahrain Financial Harbour. Lights on the Villamar building have been seen in operation and cranes have moved on site in order to advance development. It is expected that the project will now be completed in approximately 24 months.

Commenting, Mr. Hisham Alrayes, Chairman of Gulf Holding Company, said, "With the signing of this agreement, we're delighted to announce that remobilization and development of Villamar have begun. This is a strategic project, located in the heart of Bahrain, and we are proud to be working with world-class partners to now advance quickly towards completion. I would like to take this opportunity to thank all of our partners in the project for their unwavering support. This includes Al Rajhi Bank, Al Hamad Construction and GFH, each of whom has played an important role in taking Villamar forward. I would also like to extend a special thanks to Shaikh Khalid Bin Abdulla Al-Khalifa, Deputy Prime Minister and Chairman of the Ministerial Committee for Reconstruction and Infrastructure of the Kingdom of Bahrain. His commitment to the Kingdom's economic development creates the foundations on which projects like Villamar can advance."

Mr. Adnan Al Olayan, General Manager for International Banking at Al Rajhi Bank, added, "Al Rajhi Bank is pleased to support this project and its remobilization. As one of the world's largest Islamic banks, we look for opportunities to drive the development of innovative projects being structured and financed in line with Shariah standards. We are especially focused on those in regional markets, including Bahrain, where Al Rajhi has a long standing track record of success and recognition. We look forward to seeing Villamar develop according to the highest standards and thank the Government of Bahrain for its ongoing support of strategic projects such as this in the Kingdom and to GFH for extending their support to find the proper completion."
Also commenting, Mr. Nashat Sahawna, Chairman of Al Hamad Construction, said, "As a leading regional contractor, we're delighted to be part of the development of Villamar. With this agreement now in place, we are able to advance construction and work toward the completion of another landmark project in Bahrain. We're especially proud to be undertaking work with this group of world-class partners who, like us, are dedicated to delivering value, contributing to the economy and supporting the Government's visionary and strategic plans for further infrastructure development and growth in the Kingdom."

The Villamar project is planned to feature over 800 residential units from luxury penthouses and Sky and Terrace Villas to apartments and luxury hotel rooms integrated with numerous other facilities including health club and spa, swimming pools, and other recreational and commercial amenities. The publicly accessible sea-front boardwalk, will allow visitors and residents to enjoy indoor and outdoor cafes, restaurants, and boutique retail shops. Villamar aims to break into the world of exotic developments through its sophisticated architectural design, multi-services and accommodation, and its presence in Bahrain's growing financial district.
-Ends-

About Villamar
Villamar is located at Bahrain Financial Harbour on an island in the center of the business district in Manama, the capital of the Kingdom of Bahrain. The development overlooking the seafront of BFH, consists of five elements being three twisted towers, lifestyle apartments with one to five bedrooms, floating sky villas, retail outlets and a quiet boardwalk.

The development has distinctive engineering and architectural designs and features. The main facilities of the project include a health club and spa, swimming pools and other recreational amenities. In addition, the boardwalk will act as a point of attraction to the public as it will host cafes, restaurants, retail outlets with a terraced air-conditioned podium, sea views, spacious car parking, marina and landscaped areas




lady gaga no está en línea   Reply With Quote
Old August 31st, 2015, 09:07 PM   #3
lady gaga
Mod
 
lady gaga's Avatar
 
Join Date: Jun 2011
Location: Khartoum
Posts: 15,176
Likes (Received): 845

Taken from the newly constructed Four Seasons Bahrain swimming pool



__________________

Munwon liked this post
lady gaga no está en línea   Reply With Quote
Old August 31st, 2015, 09:11 PM   #4
lady gaga
Mod
 
lady gaga's Avatar
 
Join Date: Jun 2011
Location: Khartoum
Posts: 15,176
Likes (Received): 845

what makes the Kingdom of Bahrain unique and more special than other than other gulf countries is relaxing beaches hotels and blue water everywhere since the Kingdom of Bahrain is actually an Island they definitely took advantage of that a lot of Arabs and non Arabs as well come and relax in Bahrain with amazing health clubs and islands like Dilmunia and Diyar Almuharraq and there's so many and that's why its called the pearl of the gulf
lady gaga no está en línea   Reply With Quote
Old August 31st, 2015, 09:45 PM   #5
lady gaga
Mod
 
lady gaga's Avatar
 
Join Date: Jun 2011
Location: Khartoum
Posts: 15,176
Likes (Received): 845

This is going to have fine sky villas and a 5 stars hotel the three towers are labeled as towers A B and C
lady gaga no está en línea   Reply With Quote
Old September 6th, 2015, 08:22 PM   #6
KillerZavatar
also known as Wally
 
KillerZavatar's Avatar
 
Join Date: Jun 2010
Location: Düsseldorf
Posts: 11,341
Likes (Received): 8239

so is it planned to restart or restarted already?
__________________

Seoul_Korea liked this post
KillerZavatar no está en línea   Reply With Quote
Old September 9th, 2015, 05:59 AM   #7
lady gaga
Mod
 
lady gaga's Avatar
 
Join Date: Jun 2011
Location: Khartoum
Posts: 15,176
Likes (Received): 845

I'd say it restarted already a few Bahrainis said that they saw the project lights on again so I guess it did
lady gaga no está en línea   Reply With Quote
Old May 3rd, 2016, 07:50 PM   #8
bartboy
Unity/Faith/Discipline
 
bartboy's Avatar
 
Join Date: Jul 2005
Location: Strasbourg/New York/London/Islamabad
Posts: 698
Likes (Received): 259

Amazing structure!
bartboy no está en línea   Reply With Quote
Old May 23rd, 2017, 02:44 PM   #9
Oasis-Bangkok
From Zero to Hero !!
 
Oasis-Bangkok's Avatar
 
Join Date: Apr 2009
Location: Bangkok
Posts: 15,708
Likes (Received): 50778

May 19, 2017

Night Construction by mikeallen1234, on Flickr
__________________

Munwon liked this post
Oasis-Bangkok no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 11:48 PM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu