10 November 2019
Bahrain's Ministry of Works, Municipalities Affairs and Urban Planning Municipalities Affairs has re-tendered the Hamad Traditional Market project that has been cancelled and revived at least twice since 2010.

The Ministry has sought investors to invest and develop a 'pioneer traditional market' under an agreement whereby land owned by the Ministry will be leased for a period of 35 years in return for an annual benefit for the site.

The tender closes on 18 December 2019.

In November 2018, local news portal gdnonline had reported that the market would be located on a ministry-owned 12303.8 metre-land plot in Block 1212 on Shaikh Hamad Avenue.

The plan for a traditional souq in Hamad Town was first mooted in 2010 and a tender was floated in 2014. Thomson Reuters Projects had then reported that the tender failed to attract bids and the Ministry may go for an auction.

The project was revived in mid-2018 as a public-private partnership (PPP). The tender was cancelled after it received only a single valid bid from Bluescape Properties for 16.26 million Bahraini dinars ($43.24 million) in September 2018, according information posted on the Tender Board website.

(Writing by Sowmya Sundar; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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