Daily Newsletter

12 September 2023

Daily Newsletter

12 September 2023

NASS Contracting and MSCEB engaged for initial phase of Bahrain Marina

The Bahrain Marina project will cover 256,000m² and includes a mix of residences, retail, and more.

September 11 2023

Nass Contracting and Mohamed Salahuddin Engineers & Architects (MSCEB) have been contracted for the initial phase of the Bahrain Marina Development project.

The overall estimated value of project construction is approximately BD200m ($525m) and the initial phase represents BD92m, as stated in a press release posted on Zawya.

The formalisation of agreements between the contractors and Bahrain Marina Development Company marks the start of work on the mixed-use development in Manama, Bahrain.

The Bahrain Marina project will cover an area of 256,000m² and will include a mix of residences, retail, beaches, and a range of water sports activities.

The development will feature 274 housing units, 192 retail shops, and a 68,637m² hotel with 304 rooms.

Furthermore, the marina will include 1,769 underground parking areas as well as 235 slots for yachts and boats.

Bahrain Marina Development Company board of directors chairman Khalid Mohamed Yusuf Najibi said: Their collective goal is to transform this coastal area into an unparalleled tourist, commercial, and residential enclave in Manama, the capital city.

"This development will offer a unique blend of living, shopping, scenic beaches, and diverse water sports activities. The comprehensive project scope encompasses a marina club building, a commercial complex, restaurants, and a multi-story tower featuring luxurious sea-view apartments.

“These contributions include bolstering the national economy, aligning with its growth trajectory, generating employment opportunities, and fostering the development of the tourism and commercial sectors. Additionally, it aligns with the broader goals outlined in the tourism strategy for 2022-2026.”

South-East Asia Construction Market Dynamics

Per GlobalData analysis, the South-East Asia construction industry in 2023 is dominated by Indonesia, though the country will see a slowdown compared to 2022 due to elevated building material prices, weak commercial property demand, high interest rates and a softening of external demand. The construction industry in the Philippines is estimated to register a AAGR of 7.2% between 2024 and 2027, supported by the government’s focus on the development of the country’s rail and road transport and energy infrastructure.

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