Oman-based developer The Wave is still yet to award a contract for the development of the Kempinski hotel near Muscat, despite receiving bids in January.

“The tender is still with the client, nothing has been awarded yet,’’ says a source close to the project.

MEED reported in April that contractors had been asked to extend bid bonds so that the developer could conduct a value engineering exercise to reduce the cost of the project and possibly restructure the financing of the development.

The bidders for the main construction package include:

• Al-Habtoor Leighton (UAE/Australia)
• Al-Turki Enterprises (local)
• Carillion Alawi (local/UK)
• Douglas OHI (local/UAE)
• Laing O’Rourke (UK)
• Multiplex (Australia), Larsen & Toubro (India)
• Murray & Roberts Contractors (Middle East) (South Africa), Bahwan Engineering (local)

The Kempinski will have 350 rooms with suites, as well as business and leisure facilities. The development was expected to open in the first quarter of 2013. The mixed-use Wave project is being developed through a joint venture of UAE-based Majid al-Futtaim (MAF) and the Omani government.

The $3bn Wave scheme, located on the coast at Muscat, covers an area of 2.2 million square metres and includes 4,000 residential properties, four hotels, a 400-berth marina and retail facilities. The development will also include an 18-hole golf course designed by Greg Norman (MEED 15:4:11).