Deal signed for new Bahrain housing project
Manama, May 19, 2014
The planned East Hidd City housing project in Bahrain was yesterday given a major boost with the Housing Ministy signing a multi-million agreement to construct the first phase of the scheme, which includes 483 units.
The Kuwaiti government will finance the BD18 million-project under the GCC Development Programme, said a report in the Gulf Daily News, our sister newspaper.
A consortium including Kuwaiti Khalid Ali Al Kharafi and Brothers Company and Bahraini Nass Group will undertake the project, scheduled to be completed within 18 months.
Housing Minister Bassem Al Hamer and Khalid Ali Al Kharafi and Brothers Company chairman Waleed Al Kharafi sealed the deal.
The two allied companies are expected to start work on the project within a month on signing the contract, the report said.
Another tender will be announced within the coming two months for the second phase of the project, which features 400 housing units, it said.
The ministry has already signed a contract with the Abu-Dhabi-based National Marine Dredging Company (NMDC) to undertake the reclamation work for East Sitra Town, a project financed by the UAE government.
"The signing of the agreement is the starting for the multi-phased East Town which includes 4,523 units", Al Hamer said, adding that tendering for the other phases would be made successively.
He extended thanks to the government of Kuwait for supporting the project which will be fully financed by Kuwait Fund for Arab Economic Development.
He also congratulated His Majesty King Hamad, His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Premier on signing the agreement.
In December 2011, the ministry gave the go-ahead for reclamation work of East Hidd City, which will be constructed on 227 hectares donated by His Majesty for social housing projects.
His Majesty delegated the Crown Prince to the foundation stone for the project in May last year. - TradeArabia News Service