BAHRAIN: Gulf Holding Company, which was set up by Gulf Finance House and Bayan Investment Company, has signed an MoU with Al Hamad Construction & Development Company to resume construction on its Villamar integrated residential and commercial complex.
The work is targeted for completion in 18 months, after a delay in its development due to the financial crisis.
According to Hisham Alrayes, the chairman of Gulf Holding Company, the project has been restructured; extending its short-term liabilities and bringing in new funding partners.