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KFH-Bahrain awards a contract to Kooheji Contractors to build 6 mock-up villas in Diyar Al Muharraq

Kuwait Finance House - Bahrain (KFH-Bahrain), has signed a contract with Kooheji Contractors, a leading Bahraini construction company, to build 6 mock-up villas in Diyar Al Muharraq. The construction will commence immediately and the villas are scheduled to be completed in October 2011 for viewing by potential buyers.KFH-Bahrain issued this tender last April and specified to potential contracting companies the importance of adhering to strict construction deadlines. It was also stipulated that the contracting companies operate according to the highest international building and construction standards. 19 major Bahraini contracting companies participated in the bidding and KFH-Bahrain selected the best tender according to stringent criteria, including quality of construction and commitment to the projects' standards and characteristics.

This project is considered to be one of the largest residential projects undertaken by the private sector in Bahrain, where between 2,500 and 3,000 housing units will be developed within KFH-Bahrain's flagship real estate development project, Diyar Al-Muharraq. The overall project is planned to be developed in several phases. The first phase is expected to start in October 2011 once the mock-up villas are completed, along with commencement of the sales of the housing units.

Commenting on the awarded contract, Mr. Abdulhakeem Alkhayyat, the Managing Director and CEO of KFH-Bahrain, commented "We are pleased to award the contract to build the mock-up villas to Kooheji Contractors. This contract honors our commitment to work with the very best companies which have a strong track-record in developing the country's well-known projects. Being one of the leading local companies, we are confident that Kooheji Contractors will demonstrate the highest level of competency to deliver the mock-up villas on schedule." Mr. Abdul Ghaffar Kooheji, Managing Director of Kooheji Contractors said "Kooheji Contractors is honored to have been awarded this contract. Diyar Al Muharraq is one of the most prestigious developments in the Kingdom and it is our privilege to be associated with it. We are committed to delivering reliable, innovative and professional services to our clients and this commitment is shown through our dedication to apply the most advanced technologies available and employ the most efficient and advanced construction methodologies in the market to deliver the mock-up villas with quality, safety and commercial sharpness." Kooheji Contractors has a proven track-record in undertaking several projects in the Kingdom. They have grown significantly since its establishment in 1973 to rank as one of Bahrain's largest builder and private property developer. The Company is an AA grade Contractor with over 3000 employees. Kooheji Contractors, which is owned by Mr. Abdul Ghaffar Kooheji, is the first contracting company in the Kingdom of Bahrain to secure an ISO 9001:2000 certification. The Company then acquired accreditations for ISO 14001:2004, and OHSAS 18001:1999 demonstrating its continued commitment to quality, environment and health & safety.

It is expected that this project will stimulate several important sectors of the Bahraini economy, especially for small and medium enterprises. The developers will focus on building distinct units in design and detail, with prices not to exceed BD 100,000, depending on the type and size of the housing unit.

Potential buyers can view and experience the mock-up villas prior to the purchase process in order to verify the type of interiors and garden landscape they prefer and efficient use of space. Furthermore, KFH-Bahrain assures that they will take all necessary steps and measures to avoid any potential future speculation. The lead architect and project manager of this project is Adel Ahmadi Associates and the selected interior designer is Horizon Interiors.

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About Kuwait Finance House, Bahrain
Kuwait Finance House-Bahrain is a leading provider of Islamic commercial and investment banking services. Established in 2002 as a wholly owned subsidiary of Kuwait Finance House (Kuwait) -- an industry leader for more than 30 years KFH-Bahrain specializes in developing and bringing to market the highest quality Islamic compliant banking and investment products, all of which are delivered by a staff of experienced and dedicated professionals with a deep understanding of the market and the clients we serve.

© Press Release 2011