February
25, 2008 Bahrain Starts Work
on Middle East's Biggest Healthcare Project By Aroonim Bhuyan
Dubai
Bahrain's Ithmaar Development Co (IDC) has awarded a $69-million
contract to Boskalis Westminster Middle East to start reclamation
work in the country's northeast coast for what is to be the Middle
East's largest healthcare, leisure and real estate project.
The $1.6-billion project, called Dilmunia, is aimed at
revolutionising the healthcare industry in the region and turn
Bahrain into a regional health tourism centre.
"Dilmunia will become an integral part of Bahrain's infrastructure,
providing benefits well beyond the $1.6 billion that will be
directly injected into the economy," IDC chief executive and Health
Island Co chairman Mohammed Khalil Alsayed said in a statement.
Apart from specialist clinics, hospitals, spas and other wellness
facilities, the project will also include hotels, residential areas
and leisure and shopping centres, providing residents and visitors
with state-of-the-art healthcare services in a resort-type
environment, according to a company statement.
"While largely self-contained, the health island is expected to
generate other value-added economic activities, centred around the
healthcare industry, and will complement Bahrain's strong public and
private medical facilities," Alsayed said.
IDC is the wholly owned development arm of Bahrain-based Ithmaar
Bank, and is part of the Ithmaar banking group.
Boskalis Westminster is the Middle East subsidiary of Dutch
multinational Boskalis Westminster and has executed major
reclamation projects in Bahrain, including for the Industrial Area
in Hidd and the new Northern Town.
Ithmaar Bank raised $185 million for the Dilmunia Development Fund
through a successful private placement.
According to the company, the funds raised would be deployed in
purchasing the land and investing in the initial infrastructure work
for the island, paving the way for the project to enter its next
phase, when some of the plots will be sold to investors for
development.
Site mobilization for the reclamation work on the island will start
on March 1, 2008 and the work will be completed in approximately 15
months.
Alsayed said reclamation and construction work would be carried out
according to strict international standards to ensure that the
environmental impact is as minimal as possible.
The first phase of an environmental impact assessment has already
been carried out, with positive initial results, he said.
The master planners for the health island are Singapore-based
architecture firm DP Architects.
Healthcare facilities will include a 358-bed hospital, a 216-bed
hospital for women and children and specialist clinics offering
medical, aesthetics, nutrition, diagnostics and sports medicine
treatments.
The new development will have three five-star boutique hotels, with
French, Chinese and Thai-inspired themes, as well as a four-star
luxury hotel with a Middle Eastern design.
The hotels will be equipped to take care of patients who are still
undergoing treatments at the island's medical and wellness
facilities.
Residential units will comprise 118 villas, 1,050 condominiums and
residential units, 312 quayside residences and several serviced
apartments, the company said.
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