In collaboration with private real estate development firms, Bahrain’s Ministry of Housing and Urban Planning has revealed plans to build up to 3,000 residential units and apartments at Madinat Khalifa over a vast 1.6 million square meter area, along with first-rate infrastructure.
The ministry revealed the project’s main investment opportunity and stated that Madinat Khalifa is one of the Government Land Development Rights Program’s strategic projects.
On November 4, the last day of the important Gateway Gulf Forum, the announcement was made.
According to a ministry statement, Madinat Khalifa presents real estate development firms with promising prospects for the construction of residential buildings and apartments as well as infrastructure services.
According to the statement, the project is being carried out in collaboration with the private sector as part of the Government Land Rights Programme.
According to the ministry, the announcement of the Madinat Khalifa project follows a thorough technical and financial analysis, opening the door for the project’s listing on the Government Land Investment Platform and the subsequent tendering process.
According to the ministry, this is one of several projects that will be carried out in the kingdom’s different governorates.
It further stated that real estate development companies are very interested in taking part in the Government Land Development Rights Program and that the projects listed under the program are making steady progress in terms of contracting and tendering with them for execution.