London-based developer Stow Securitieshas asked the two local contractors shortlisted to build its Marina Towers residential development in Beirut to submit new lump sum prices for the $55 million-60 million main construction contract. The shortlisted bidders - Arabian Construction Company (ACC)and Contracting & Trading (CAT), which is bidding with a Singapore contractor - are preparing to submit the new prices by mid-April. An award is expected by the end of the month (MEED 3:5:02).
Contractors were originally required to submit bids based on a cost reimbursable unit price basis, but after evaluating bids from five bidders Stow asked the contractors to rebid based on lump sum figures. Officials at Stow said it had asked for the lump sum bids because it 'does not want variations' once the contract gets started.
The two contractors were shortlisted from five that submitted bids on 17 February. The other bidders included Athens-based Consolidated Contractors International Company (CCC)and an unidentified Turkish contractor.
Saudi Arabia's El-Seif Engineering & Contracting Companyis co-ordinating design and engineering work for the complex, which comprises a 27-storey residential building and a nine-storey commercial centre containing shopping malls and restaurants. Over 70 per cent of the apartments in the waterfront complex in Beirut have been sold.
The design team includes US architect Kohn Pederson Fox Associates (KPF), local engineering consultant Dar al-Handasah (Shair & Partners)and the UK's Buro Happold, which is acting as structural engineer. The UK's EC Harris is cost consultant on the project.KPF and Dar al-Handasah are currently developing designs for a third block in the complex (MEED 16:11:01).
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