Bahrain: Riffa Views Begins Construction on Lagoons

BAHRAIN, 29 May 2007 -- Riffa Views Signature Estates yesterday held a ground-breaking ceremony to announce the beginning of construction on the second of its Signature Estates, The Lagoons.

The contract was awarded to GPZ-Sembawang, a joint venture between local contractor GPZ and Singaporean engineering and construction giant Sembawang. The Lagoons Estate will comprise 258 two and three bedroom townhouses along with four and five bedroom luxury villas, which will be completed by mid-2009.

Construction on the first of Riffa Views Estates, The Oasis, began in March 2007, and with The Lagoons now under construction, more than two-thirds of the residences within Bahrain's premier residential golf development are under way for completion.

Richard Browning, CEO of Riffa Views Signature Estates, broke ground of The Lagoons Estate, and said: "Today's milestone represents a great achievement in the overall progress of Riffa Views. We selected GPZ-Sembawang based on their local knowledge combined with international expertise, to ensure world-class quality and on time completion and delivery to our residents. With The Lagoons and The Oasis Estates both under construction, the countdown has begun for residents to enjoy the Riffa Views lifestyle."

In comparison with The Oasis Estate, which combines the splendor of the tranquil desert with the calming cool of shaded and green areas, the contemporary architectural style of The Lagoons' homes is completely unique for Bahrain, since the Estate is set within a tropical landscape. The Lagoons is located between The Park and The Oasis Estates, and incorporates tumbling rock falls, meandering lakes and stunning water features.

James Hadden, Sembawang director, said: "The joint venture between GPZ and Sembawang was created in order to share local knowledge and international resources, and we are positive Riffa Views will benefit from this partnership. We are proud to be associated with a pioneering and unique project of this scale in Bahrain, and are confident we will deliver quality service to allow home owners to move in as scheduled."

G.P. Zachariades Ltd. was established in Bahrain in 1976, and has an established track record as leading contractor for many reputed projects in Bahrain. GPZ formed a joint venture with South East Asian engineering giant, Sembawang E&C, which then led to their recent appointment to undertake construction on the Riffa Views' Lagoons Estate.

Work on the Riffa Views residential development is on schedule, with the first of 972 villas ready for delivery to their new owners by mid-2008.