The Ministry of Housing and Urban Planning has announced aninvestment opportunity for a residential development project in MadinatKhalifa, with a total of up to 3,000 housing units and apartments. Thisinitiative is part of the Government Land Rights Program in partnership withthe private sector. This announcement comes as part of the investmentopportunities put forth during the second edition of the Gateway Gulf Forum,which is hosted by the Kingdom of Bahrain on November 3 and 4.
The Ministry affirmed that Madinat Khalifa offers promisingopportunities for real estate development companies to develop residentialunits and apartments, along with infrastructure services, covering an area ofup to 1.6 million square meters. It added that Madinat Khalifa is one of thestrategic projects targeted by the Government Land Development Rights Program.
The Ministry indicated that the Madinat Khalifa projectannouncement follows a comprehensive technical and financial study prepared bythe ministry, paving the way for the upcoming tendering process and the listingof the project on the Government Land Investment Platform. This is part of aseries of projects scheduled for implementation across various governorates inthe Kingdom.
The Ministry affirmed that theprojects listed under the Government Land Development Rights Program arewitnessing continuous progress in terms of tendering and contracting with realestate companies for execution, amidst a strong interest from real estatedevelopment companies to participate in the program.
