مجلس نيوز | majlis-news
The Municipality of Madinah Region announced the launch of a land development project in the central area with an area of (3,550 square meters) to develop, operate and maintain hospitality and retail assets.
The secretariat clarified that the project will be presented in three phases, the first phase includes expressing desires, the second includes qualifying a number of applicants, and the third is for the competition between the qualified to choose the competitor – or developer or union / developer alliance – who is the winner of implementing the project, which is the establishment of a hotel project and a retail store. Pointing out that the land is located in the Naqaa neighborhood in the central area near the Prophet’s Mosque from the south / southwest side, using the model of building contract, operation and conversion BOT.
The municipality confirmed that this project comes after the approval of the Supervisory Committee for Privatization in the municipal sector to start the procedures for the offering after the Ministry of Municipal and Rural Affairs completed all the necessary studies in coordination with the National Center for Privatization, as the project is the third initiative launched in the municipal sector within the privatization initiatives, after the project of establishing Car parks in Riyadh city and the waterfront development project in Khobar, calling on all interested investors to review the request document, which includes general information about the project, by visiting the website of the Municipality of Medina, or the website of the National Center for Privatization, or through the following link (https http://bit.ly/3iDsqOk). The stage of submitting requests for expressions of interest ends on Sunday, February 14, 2021.