QNB to finance Qatar's skyscraper
Doha: Qatar National Bank (QNB) has signed a $125 million term loan facility deal to finance the construction of the tallest building in Qatar and a state-of-the-art gymnasium, said a report.
The 232-m-high, 44-storey cylindrical complex in Doha has been designed by French architect Jean Nouvel.
This project will be a new landmark for the city, said a top official.
The building, owned by Shaikh Saoud bin Mohamed Al Thani, is situated in the ‘New Doha’ area near the Sheraton Hotel, will have a unique architectural design and feature several panoramic lifts.
The building is expected to be completed in February 2007.
SNC-Lavlin bags $1bn Libyan deal
Tripoli: Canadian construction company SNC-Lavalin has won a $1 billion contract to help build a major water distribution system in Libya, Canadian Prime Minister Paul Martin said.
SNC-Lavalin is expected to help complete the construction of a large man-made river project that will transport water for Libya’s south from the Mediterranean coast along a distance of 4,000 km.
The Canadian firm is already a partner in the project. No futher details were immediately available.
Depa furnishes Cairo Sheraton
Dubai: Depa, a leading Dubai-based hotel interiors contracting company, has signed up a $4.2 million contract with Gulf Egypt, for interior finishing and fit-out of the Sheraton Heliopolis Hotel in Cairo, Egypt.
“Adding the Sheraton Heliopolis Hotel to our list of clients is truly a privilege.
“We are proud and confident in our team, which has the ability to take up such projects from concept, to planning and execution, and bring them to completion on time and budget,” said Mohannad Sweid, Depa CEO.
“The furnishings we used for this project were custom made and designed from the finest materials to best fit the prestige and status of this unique hotel,” he added.
The interior of the hotel was designed by Wimberly Allison Tong & Goo (WATG), the leading international hospitality, leisure and entertainment design firm.
Work under way on Juffair tower
Manama: Work on a BD980,000 ($2.6 million) tower block is now under way in Bahrain’s Juffair area.
The 10-storey building, which will take up to 18 months to complete, will consist of flats and offices.
The Islamic Education Society (Charitable) Building is being constructed on a 7,000 sq-m site near Al Fateh Grand Mosque.
Basra airport to open in July
Baghdad: Basra International Airport in southern Iraq is due to open for commercial and passenger traffic in July.
The engineering corps said some $4.9 million are to be spent on the airport. The renovation contract also includes the air traffic control tower. The NAV aids (navigational aids) contract has not yet been awarded, but it is out for bid. Construction needs, not yet funded, include upgrades to the fuel farm and electric feeder lines.
Gruppo Norman to develop Libyan resort
Tripoli: Italian property firm Gruppo Norman has signed a deal with Libya to develop one of the largest tourist resorts in the North African country, a project expected to cost about 200 million euros ($268 million).
The Farwa Island Project, in the north-west of the desert country near the Tunisian border, will be a Mediterranean holiday complex of about 1,770 rooms, to accommodate up to 3,800 guests and aimed at affluent holiday-makers, it said.
Construction is expected to take between five and six years.