Bahrain’s Ministry of Works, Municipalities Affairs and Urban Planning has awarded The Mall Real Estate Development the agreement to invest and construct the Hamad Traditional Market project in Bahrain.
The market will be situated on a ministry-owned plot of land size 12,303.8 metres in Block 1212 on Shaikh Hamad Avenue. Value of the signed contract is BHD 3,100,000.
according to the tender notification, the successful contractor shall invest through the terms of the contract and at its own expense for the preparation of maps and engineering drawings and issuance of licenses and permits necessary in the investment of the project to develop a pioneer Traditional Market.
Ministry will be leasing the land for a duration of 35 years
Municipalities Affairs in return will obtain during the contract period an amount of per annum profit for the site of the project.