TDT | Manama The Daily Tribune – www.newsofbahrain.com As part of the Bahrain Government Land Development Programme, the Madinat Salman Project has attracted interest from four companies for the development of 131 housing units through a private sector initiative on governm
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
As part of the Bahrain Government Land Development Programme, the Madinat Salman Project has attracted interest from four companies for the development of 131 housing units through a private sector initiative on government land.
Dadabhai Construction submitted a bid of BHD 3,245,216.800; Naseej quoted BHD 3,284,546.000; Ahmed Mansoor Al-Aali proposed BHD 2,159,871.080; and Delmon Gate offered BHD 3,839,009.000.
The Tender Board has accepted all bids for evaluation, and the successful bidder will undertake the design, construction, and financing of the 131 housing units and associated secondary infrastructure.
The Project Company will commercially sell these units to both Mazaya and social housing loan-eligible beneficiaries. Additionally, upon project completion, the developer will pay an agreed-upon Land Value to the Ministry of Housing, Urban Planning, and Development (MoHUP).
Any unsold units after the 24-month sale period will be bought back by MoHUP. The development presents an opportunity for private sector involvement in meeting housing needs in Madinat Salman.
