PROJECTS: Kuwait's Boubyan Bank expected to award new HQ building contract in Q2

Ground-breaking ceremony for the $120mln project was held in December 2020

  
Scale model of new Boubyan Bank headquarters in Kuwait.

Scale model of new Boubyan Bank headquarters in Kuwait.

Image courtesy SSH website.

Kuwait’s Boubyan National Real Estate Service Company is expected to award the main construction contract for the new Boubyan Bank headquarters in Kuwait City by the second quarter of 2021, a source close to the project said. 

The ground-breaking ceremony for the project was held in December 2020. 

“The main construction contract is expected to be awarded by third week of June 2021," the source told Zawya Projects, adding that the invitation to bid was issued on 3 January 2021 with a commercial bid submission date of 11 March 2021, which was extended to 18 April 2021.  

He said the building would bd developed on a 3,960 square metre (sqm) plot with a built-up area of 75,000 sqm. 

The bidders for the main construction contract include Ahmadiah Contracting & Trading Co, Alghanim International General Trading & Contracting, Mohammed Abdulmohsin Al Kharafi & Sons, Sayed Hamid Behbehani & Sons, and First United General Trading & Contracting Company, officials from five companies confirmed with Zawya Projects. 

The scope of work includes construction of a 34-storey building and associated infrastructure, a source said. 

Projacs International is the project management consultant; Dar SSH International in association with Perkins Eastman is the design, lead and structural consultant; and Kuwait Bruckner General Contracting company is the foundation and piling contractor for the project, a second source confirmed with Zawya Projects 

The total project cost has been estimated at approximately $120 million, the second source said, adding that excavation works are currently in progress. 

The project is planned to be completed by the fourth quarter of 2024, he said. 

(Reporting by Senthil Palanisamy; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

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