Reef Venture Holding Evaluates Tenders to Select “Difaaf” Project Main Contractor

1st March 2010

Reef Venture Holding is evaluating and studying tenders to select the main contractor of its first real estate project "Difaaf", a luxury real estate development project composed of 2 towers of housing units with an excellent sea view. The project covers an area of 16,000 sq.m, with a strategic location in Reef Island, in the heart of the Capital, Manama.

The main contractor will be selected after evaluating submitted tenders and ensuring all necessary requirements of construction are met, in addition to considering other factors of contract awarding. Following selection of the main contractor, construction works should commence at the site.

Board Member of Reef Venture Holding Company, Mr. Saleh Bagaeen said: "Difaaf is a residential development which provides a unique lifestyle for those who seek luxury in modern Bahrain, along with maintaining closeness to business centers in the Kingdom. We believe the unique architectural design and strategic location of the project will make "Difaaf" a distinguished project. At present we have received tenders and will select suitable applicants for evaluation according to certain engineering criteria of evaluation to guarantee the main contractor's ability to carry out the project in conformity with the above set criteria and with best possible costs. We expect to determine the main contractor very soon."

"Difaaf" project is composed of 2 housing towers; one with 20 floors and the other 25 floors. Both include 425 units, with one bedroom, 2 bedrooms, or 3 bedrooms, in addition to a limited number of attractive penthouses. Both towers reflect unique architectural designs and provide maximum comfort and convenience, along with privacy and a special security system in each. They provide a wide range of facilities which include swimming pools, a tennis court a supermarket, a playground for children, in addition to shaded car parks.