Selected major tourism projects across the GCC:

Bahrain

• PROJECT: Lulu Tourism Company Reef Island Development (infrastructure and buildings)

• VALUE OF PROJECT: $900m ($100m + $800m)

• CLIENT: Lulu Tourism Company

• CONTRACTS AWARDED: Ahmed Mansoor Al A’ali (infrastructure), Al Hamad Contracting (buildings)

The government of Bahrain has joined forces with private investors to create Lulu Tourism Company. Its flagship project is Reef Island - formerly Lulu Island - a 740,000 sq metre artificial island north of Manama. It is a mixed-use leisure and residential project, with a hotel, marina and yacht club.

Infrastructure is due for completion this year, with construction of buildings scheduled for June next year. Phase one will see Al Hamad Contracting build eight apartments and 63 villas early next year, with 51 villas and 31 apartment buildings added under phase two. Al Hamad Contracting will also build the 250-room hotel and yacht club.

Kuwait

• PROJECT: Failaka Island Resort

• VALUE: $3,330m

• CLIENT: Mega Projects Agency

• RELATED PROJECT: Ikaros Tourist Resort, Failaka South

• HEADLINE VALUE OF PROJECT: $140m

• CLIENT: Al Mar Real Estate Company

In 2003, the government of Kuwait decided to turn Failaka Island, 20km off the coast of Kuwait City into a tourism destination. Progress on the project has been slow and an investigation by the state audit bureau into construction contract awards in Kuwait led to the scheme being delayed indefinitely. A recent overhaul of the state’s build operate transfer law is intended to kickstart the project for which three consortia have bid for the BOT contract.

Meanwhile the government-owned Touristic Enterprises Company (TEC) is developing the southern area of the island as a resort, named Ikaros, in honour of the island’s Greek connections dating back to 2300 BC. TEC has awarded a 20-year BOT concession to a consortium fronted by Al Mal Real Estate Company.

Oman

• PROJECT: Yenkit Tourism Development

• VALUE: $2bn

• CLIENT: Majid Al Futtaim Group and Yenkit Tourism Development (Omani investors)

At $2bn, Yenkit Tourism Development rivals the Wave as Oman’s largest tourism project. The development is a joint venture between Dubai’s Majid Al Futtaim Group and Omani investors. It will create a five-star tourism complex, with four hotels over 950ha along the coast, 20km south-east of the Omani capital in Muscat.

Qatar

• PROJECT: Pearl Islands, Four Seasons Hotels and Resorts (UDC)

• VALUE: $2.5bn (Pearl total), $150m (Four Seasons Hotel)

• CLIENT: United Development Co

The Pearl is a man-made island north of Doha, linked to the mainland by a bridge. The island covers 3.25 million sq metres, and will allow non-Qataris to invest in land and to build homes based on 30 pre-approved designs. Buyers will hold residential permits and the development comes with a range of incentives. Due for completion in 2011 and valued at an estimated $2.5bn on completion, The Pearl will have three five-star hotels, three marinas with mooring for 700 boats.

Saudi Arabia

• PROJECT: Emaar: King Abdullah Economic City, Waterside Resort

• VALUE: $4bn

• CLIENT: Emaar, The Economic City

Waterside Resort is one of six projects attached to King Abdullah Economic City, the $27bn project being developed by Emaar outside Rabigh near Jeddah on the Red Sea coast. The Resort District is a mixed development of seafront hotels and boutique residences, covering a built-up area of 3.5 million sq metres. Project co-ordinator is Saudi Arabian General Investment Authority (Sagia) main contractor is Saudi Binladen with Jurong International providing consulting services.

UAE - Dubai

• PROJECT: Dubailand

• VALUE: $64bn

• CLIENT: Tatweer

Dubailand is the GCC’s largest tourism project, its overall investment value estimated at $64bn on opening in 2016. Ultimately, Dubailand will deliver 51 hotels, bringing 60,000 rooms to Dubai. Several projects fall under the Dubailand umbrella.

The main project is Tatweer’s Bawadi Dubailand, a cluster of 31 hotels and 100 theatres for live cultural shows. The development is central to Dubai’s plans to attract 15 million tourists by 2010. It includes the Bawadi Mall, part-financed by Emirates Bank, due for completion this year. Of these confirmed hotels, Tatweer will develop 12 themed properties, for an estimated $8.175bn plus $2.725bn for infrastructure. These will deliver 12,450 rooms. Independent investors will develop 19 hotels, providing 16,750 rooms.

One of the biggest projects is Universal City, a joint venture between Tatweer and Hollywood’s Universal Studios due for completion in 2010. At the centre of this $2.200bn venture is an 18-ride theme park based on movies such as King Kong and Jurassic Park. It will be developed, in several phases, on a 6.5 million sq ft site.

UAE: Abu Dhabi

• PROJECT: Yas Island

• HEADLINE VALUE OF PROJECT: $39.65bn ($39.5bn + $150m)

• CLIENT: Aldar Properties

Scheduled for completion in 2014, Yas Island comprises 32km of beachfront land being developed by Aldar Properties for mixed use, including hotels, leisure, shopping and entertainment centres, golf courses, motor racing and nature reserves. Phase one includes two marinas, two four-star hotels, adding 600 rooms by autumn 2009 and a 500-room luxury Movenpick hotel due to open in 2010. One of its most prestigious draws will be the $150 million Ferrari World theme park, complete with full-sized Grand Prix circuit, which will host the Formula One Championship in 2009. Yas Island will also house a Warner Brothers theme park and water park and the first Links golf course in the UAE, built to championship standards.

Table: All tourism-related projects in the GCC