Punj Lloyd group to construct residential community in Bahrain Contract valued at Rs 542 crore

Punj Lloyd Ltd has announced that Sembawang Engineers and Constructors, a subsidiary of the Company, has entered into agreement with Riffa Golf and Residential Development Company of Kingdom of Bahrain to construct 325 villas of a residential community, Riffa Views, adjacent to the existing Riffa Golf Club.

Sembawang along with its Joint Venture partner, G.P. Zachariades, a prominent local contractor, will build 325 villas under the Lagoons package. The value of construction cost is Bahraini Dinar 45 million (Rs 542 crore).

This will reinforce Sembawang's success in similar logistically challenging projects in the Middle East region, after having successfully completed the Jumeirah Islands development for Nakheel in Dubai.

The entire project involves the development of three distind signature estates - The Lagoons, The Oasis, and The Park. In total, the development consists of 970 villas with access to a world-class golf course, hotel, country club, health club, shopping centre and an international school. The order received by Sembawang is the largest single package in the development of the three estates.

Riffa Views is the result of the vision of Arcapita.

Source : Equity Bulls

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