Saudi Arabia's National Center for Privatisation & PPP (NCP) said Al Madinah Regional Municipality, in collaboration with the Ministry of Municipalities and Housing, has launched the Expressions of Interest (EOI) and Request for Qualification (RFQ) and Request for Proposal (RFP) phase for a joint development project in Sikkah Al Hadid. 

The projects will be executed under a Public-Private Partnerships (PPP) model through Build-Own-Operate-Transfer (BOOT) contracts with a duration of 50 years.

The scope of work for the project being set up as a Public-Private Partnerships (PPP) includes transformation of an 84,657-sq-m government-owned site west of Madinah into an integrated mixed-use facility. 

The site's strategic location and flexible zoning, permitting buildings up to 20 floors, combined with excellent road network connectivity, ensures easy access for residents and visitors, said a statement from Saudi NCP. 

The development will also synergise with adjacent residential projects by the National Housing Company (NHC), supporting the surrounding community while catering to a growing population within a 5-km radius, it stated.

Local and international investors, financial institutions, and operators are invited to visit the NCP website to review further information and details of project. The last date for submitting the bids is June 23.-TradeArabia News Service