Bids sought for Marsa al-Seef marina project
Real estate development company GREDCO, which is based in Bahrain in the Middle East, has invited bids for a major dredging project for the Marsa al-Seef development. GREDCO is the development manager working on behalf of Global Banking Corporation (GBCORP), which is pursuing the $2.5bn Marsa Al Seef project, one of the largest marina developments in the Middle East, off the coast of Bahrain.
Earlier this year, GBCORP said that, despite what it called ‘very challenging market trends’ Marsa Al Seef had won the confidence of institutional and individual investors, and noted that Bahrain as a business and tourist destination continues to attract potential investors. The proposed development is located on the Kingdom of Bahrain’s northern coast and will cover an area of approximately 26m sq/ft.
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