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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.
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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.
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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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