New financial complex planned for Amman

01 February 2006

Kuwait's Grand Real Estate Projects (GREP) is pressing ahead with two developments in the capital and on the Dead Sea entailing a total investment of $350 million.

Kuwait's Project Management & Control (PMC), GREP's design and engineering, procurement and construction management (EPCM) consultant on the $250 million Grand Amman Financial Complex in the Abdoun district, is in the final stages of selecting a design and supervision subcontractor. Bidders include Consolidated Consultants, Engicon and Arabtech Jardaneh, all local, and the Amman office of Beirut-based Dar al-Handasah (Shair & Partners). To be built on a 20,000-square-metre area, the complex will involve the construction of two towers - a 42-storey five-star hotel with conference facilities and a 40-storey office building. The project will also include a dome-shaped building in the centre of the development to act as a financial centre. 'We are currently negotiating with the Amman Stock Exchange and the Jordan Securities Commission over plans to include a dealing hall for brokers,' says a project source. Expressions of interest are due to be invited from companies in mid-April for the main construction contract, which is due to be completed in April 2009. Negotiations with international operators are ongoing for the contract to manage the hotel. Australian's Multiplex Constructions is carrying out construction management and Woods Bagot, also of Australia, is the architect. The UK's BGNE is carrying out the structural design. PMC carried out the concept design.

Negotiations are expected to be finalised imminently for the contract to operate a $100 million health resort and spa on a 1.2-kilometre stretch of land on the Dead Sea. The project will involve the construction of 680 rooms and 24 suites and will include swimming pools, a gym and related facilities over a total area of 150,000 square metres. Work will be completed within 28 months. Concept design has been carried out by PMC. GREP is the developer.

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