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MEEF - Turkey's Middle East Relations - previous page

Punj Lloyd Inks With Riffa Golf To Build Residential Community In Bahrain At Rs. 542 Cr.

Monday, Punj Lloyd Ltd announced that its subsidiary, Sembawang Engineers and Constructors, has inked an agreement with Riffa Golf and Residential Development Company of Kingdom of Bahrain to construct 325 villas of a residential community, Riffa Views, at a cost of Rs. 542 crores or Bahraini Dinar 45 million. Riffa Views is the results of the vision of Arcapita.


The New Delhi-based company disclosed that Sembawang along with its joint venture partner, G.P. Zachariades, a local contractor, would construct 325 villas under the Lagoons package. The villas will come up adjacent to the existing Riffa Golf Club.

The entire project involves development of three distinct 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. 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.


About Sembawang

Headquartered in Singapore, Sembawang E&C, a 100% subsidiary of Punj Lloyd, is engaged in engineering and construction activities in South East Asia, excluding Japan, China and Korea, with experience spanning across more than 35 countries.

About Arcapita

Arcapita is a Bahrain-based bank operating out of three offices in Bahrain, Atlanta and London. Arcapita is a catalyst of investment opportunity, bringing together the best of today's partners, investors and ideas to crease tomorrow's success stories, with real estate investments totaling more than $2.5 billion in value. Arcapita is dedicated to bringing new concepts in residential living and commercial investment to the Middle East.

About Punj Lloyd

Punj Lloyd is an engineering and construction company in India providing integrated design, engineering, procurement, construction and project management services for energy and infrastructure projects with operations spread across many regions in the Middle East, Caspian, Asia Pacific, Africa and South Asia.

Punj Lloyd clocked a net profit of Rs. 54 crores on total net sales of Rs. 1,685 crores for the financial year ended March 31, 2006.


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