Madinah Municipality has invited expressions of interest from leading investors for the Central Area Plot Development Project in Al Naqaa neighbourhood within the Saudi city on a BOT (build-operate-transfer) basis. 

 

The scope of work includes construction, operation and maintenance of hospitality and retail assets on a 3,550 sq m area.

 

The municipality said the project, which is located on the south/southwest side of the Makkah mosque, will be offered in two phases: the first for qualification of applicants and the second for qualified developers, consortiums or consortium developers to bid for the project and also for establishment of both, a hotel and a retail area.

 

This project has been launched to the market after receiving the necessary approval from the Municipalities Privatization Supervisory Committee, the civic body said in a statement. 

 

All necessary studies for the project have been completed by the Ministry of Municipalities and Rural Affairs with support from National Center for Privatization & PPP (NCP), it added. 

 

This is the third PPP initiative to be launched in the municipal sector under the Saudi privatisation programme. The first one was a PPP for a Car Park Construction and Management Project in Riyadh followe by the Waterfront Development Project in Al Khobar.-TradeArabia News Service