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Riffa Views Vows on Time Delivery- Bahrain
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(MENAFN - Bahrain Tribune) The Kingdom's first golf residential development, Riffa Views was on track for completion notwithstanding the shortage in supply of basic building material, the Riffa Views CEO, Richard Browning affirmed yesterday.
"Despite the challenges and shortages in the entire core of the building fabric not to forget rising costs of building material, our contractors remain on schedule to deliver the villas on time," he said. Saying 90 per cent of the property was already sold out, he said the rising costs would not be passed on to the owners.
Browning said men and material were in short supply throughout the region and delays occurring on many real estate projects throughout Bahrain. "Sand and cement supplies coupled with the steel shortage are causing real concern. All cement-based products such as cement blocks and ready-mix concrete are also affected. And it is only getting worse as the development boom in the Kingdom continues," he pointed out.
Current shortages have a huge impact on prices, particularly as the costs of steel, sand and cement have all doubled in the last 12 months. "As these costs filter through, the effects will be significant on new house prices in the future especially because of the fact that steel and cement based products make up 30 per cent of a typical villa cost."
He praised the contractors working at Riffa Views for their proactive efforts to complete the project on time, despite shortages in basic building materials. The villa contractors were GPZ Sembaweng, PCC, PCC Terna Projects while the school and amenity building contractors were Cyprus Roads and Building besides infrastructure contractors Cybarco-Tabet.
Chris Poullaides, Managing Director of Poullaides Construction Company said: "Over and above the shortages, we also have to face additional delays due to the widespread lack of reliable transportation facilities for labour and material. However, it is gratifying that the positive steps we take are being recognised through these difficult times."
Having entered into agreements with the Riffa Views contractors in 2006 and 2007, Browning said he had nothing but full praise for their efforts to complete the works on time and at the contract price.
"As some materials become available, our contractors have stockpiled building blocks and other products affected by the shortages, and sometimes even imported at significantly higher prices than they have allowed for. Wherever possible, we have assisted our contractors with advance payments in order to pre-purchase material at the best prices," he maintained.
"To further limit the knock-on effect, reprogramming of works continuously takes place to maximise the productivity of the labour forces during these shortages," he added.
Riffa Views, a joint venture between Bahrain's leading investment bank, Arcapita and the Bahrain International Golf Course Company, is a 972-villa project planned for a luxurious community lifestyle that will provide a comprehensive range of sports, leisure and shopping facilities, including an 18-hole signature championship golf course designed by the top international golf pro, Colin Montgomerie.
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