Bahrain Real Estate News
Riffa Views sign revised villa delivery programme with Contractor
Riffa Views has entered into a revised contract with Contractor PCC-Terna, under which, the contractor has been handed over the responsibility of a villa delivery programme, wherein the handover of Oasis villas will have to be carried out by mid-2010.
PCC-Terna, a partnership venture between Terna S.A. of Greece and Poullaides Construction of Bahrain, was appointed by Riffa Views at the outset of the project for construction of 350 villas in the Oasis Estate.
So far, 82 villas have been handed over to Riffa Views, while the new agreement outlines the delivery schedule for remaining villas, to be handed over to Riffa Views at an average rate of 27 villas per month.
However, due to several factors, such as material shortage and global economic recession, the delivery of villas has been delayed beyond measure, which has led to frustration among homeowners. All possible steps are being taken to alleviate the effect of challenges being faced in the project, said Yasser Al-Raee, Managing Director, Riffa Views.
The agreement brings forth positive outcome for all parties concerned. PCC-Terna has assured full commitment to Riffa Views and to fixed programme of delivery for completed homes with high quality levels at the outset of this project.
The technical director at PCC Terna, Dimitrios Rammos, said that the agreement offers assurance to homeowners that all the resources and efforts by the company are aligned towards the ultimate goal of completion and delivery of all the Oasis Villas by mid-2010.
Riffa Views construction continues to progress and 85 percent of its infrastructure is now complete. Till date about 210 villas from all three Signature Estates have been handed over by contractors to Riffa Views. Out of these 99 have either been delivered to homeowners or are ready for occupation. The remaining 111 villas are now undergoing commissioning and testing in readiness for handover.
Posted on 3/12/2009
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