Vancouver, June 6 2005 – The boards of Directors of Strategic Internet Investments, Incorporated (“SIII”) and Star Leisure & Entertainment Inc. (an associated company to “SIII”) are pleased to announce that Parsons Global Services, Limited (“Parsons Global”), a wholly owned subsidiary of Parsons Corporation, has been contracted to act as project manager of its Dream Island Resort. Founded in 1944, Parsons is one of the largest 100% employee-owned engineering and construction companies in the United States, with revenues exceeding $2.5 billion. Parsons is renowned for its ability to surmount the toughest logistical challenges and deliver landmark design-build projects across the globe through its proven ability to provide facility and infrastructure solutions through superior program management and technology-based approaches.
The agreement contemplates that Parsons Global will commence their project management following SIII’s start of real estate pre-sale of the project villas.
The Dream Island Resort Complex is to be a 16.5 hectare (41 acre) man-made island approximately 250 meters offshore along the northeast coast of Manama, Bahrain. The project will be mixed-use resort development, comprised of a world-class hotel and Spa, Beach Villas and Marina Residence. Dream Island will be a self contained resort with world-class facilities including an aquarium, swimming pools, a full entertainment centre, water park, bowling alley, ice skating palace, boutiques, restaurants and cafes. Many other amenities will be offered including horse riding, health club, sports courts and a fully serviced marina, among others (see previous news releases)
Strategic Internet Investments, Inc. has the right to purchase 80% of the outstanding share capital of Gulf Star World Development W.L.L. of Bahrain (“Gulf Star”). Gulf Star is the owner of the Dream Island project (see previous news releases)
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