Companies planning to bid for the main contract on the estimated $400 million San Stefano development in Alexandria have been given an extra month to prepare their offers. The new closing date is 1 November (MEED 16:6:00).

Project sources say that the companies actively preparing to bid include Kvaerner Construction of the UK, Athens-based Joannou & Paraskevaides (J&P – Overseas), Hyundai Engineering & Construction Company of South Korea and the UAE/South African venture of Al-Habtoor Engineering Enterprises and Murray & Roberts Contractors (Middle East). Twelve companies were prequalified.

The contract is for construction of the main building in the seafront complex. It will have 30 floors, including a 120-room hotel, to be managed by Canada’s Four Seasons Hotels, and a six-floor commercial and entertainment area. The total built-up area is 400,000 square metres, and construction is due to be completed in 40 months.

The client is a group of investors led by the local Alexandria Real Estate Investment Company.