The municipality of Madinah, in Saudi Arabia, has invited Expression of Interest (EOI) from investors for the development of Central Area Plot Development Project in Al Naqaa neighborhood to be tendered as BOT (build-operate-transfer) contract.
The project is to build, operate and maintain hospitality and retail assets, over an area of 3,550 square meters, the municipality said in a statement.
The project will be offered in two phases: the first is to qualify applicants, and in the second phase qualified developers, consortiums or consortium developers will be selected.
The project is the third PPP initiative to be launched in the municipal sector under the privatization program, it added. The submission of the Expression of Interest (EOI) will close on Sunday, February14, 2021.
(Writing by Brinda Darasha; editing by Daniel Luiz)
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