International consortium to establish Bahraini island resort
An international consortium has finalized plans to establish a 165 000 square meter man-made island off the northeastern coast of Manama, Bahrain. The $135 million project has target date of completion set for 2005, reported Xinhua.
The Jazirat Al-Ahlam leisure and entertainment complex island is approximately 250 meters offshore from the Al-Fatah Corniche Park. The resort will comprise of 220 chalets, 75 apartments, a 225 room hotel, a health center and restaurants.
Strategic Internet Investments (SIII) has been commissioned to begin construction of the island. The dredging contract, between Robodh Contracting of Manama and Star Leisure and Entertainment of Vancouver, Canada, stipulates that Robodh will be issued convertible preferred shares with a face value of $5.075 million, the total value of the dredging contract, as full payment. — (menareport.com)
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