Bahrain's Ministry of Housing and Urban Planning has announced plans to develop upto 3,000 residential units and apartments along with quality infrastructure at Madinat Khalifa over a sprawling 1.6 million sq m area in partnership with private real estate development companies.

 

Unveiling the key investment opportunity available in the project, the Ministry said Madinat Khalifa is one of the strategic projects targeted by the Government Land Development Rights Programme.

 

The announcement was made on the final day of the key Gateway Gulf Forum yesterday (November 4).

 

Madinat Khalifa offers promising opportunities for real estate development companies to develop residential units and apartments, along with infrastructure services, said the ministry in a statement.

 

The project is being implemented as part of the Government Land Rights Programme in partnership with the private sector, it stated. 

 

The ministry said Madinat Khalifa project announcement comes following a comprehensive technical and financial study, thus paving the way for the upcoming tendering process and the listing of the project on the Government Land Investment Platform. 

 

This is part of a series of projects scheduled for implementation across various governorates in the kingdom, said the ministry.

 

The projects listed under the Government Land Development Rights Programme are witnessing continuous progress in terms of tendering and contracting with real estate companies for execution, amidst strong interest from real estate development companies to participate in the programme, it added.-TradeArabia News Service