Validity of bonds was first extended in April
Contractors bidding to build the new Kempinski hotel near Muscat for local developer The Wave have extended their bid bonds.
It is not the first time that contractors have been asked to extend the validity of their bid bonds. MEED first reported in April that they were extended 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).
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