Saudi Arabia's Holy Capital Municipality, in cooperation with the Ministry of Municipalities and Housing (MOMAH) and the National Center for Privatization & PPP (NCP), has launched the tender process for a joint development project on Prince Sultan bin Abdulaziz Road (Al-Hada Road) in Makkah.

With this, the kingdom has opened the expression of interest (EOI), request for qualification (RFQ) and request for proposals (RFP) stages for potential investors.

The project involves the development of a 166,488-square-metre government-owned site located on Al-Hada Road under a build-own-operate-transfer (BOOT) model, according to project documents.

The proposed concession will run for 50 years, with the private sector responsible for the design, construction, financing, operation and maintenance of the development, said NCP in its tender notification.

Authorities said the site benefits from planning regulations that permit buildings of up to two storeys is intended to support commercial and mixed-use development aimed at meeting growing demand for services in Makkah.