Riyadh development commission reviews bids for vital monorail project
The High Commission for Riyadh Development (HCRD) has offered investment opportunities in various real estate projects being implemented here.
The offer was made during a recent meeting with a group of real estate investors at the Riyadh Chamber of Commerce and Industry.
The HCRD has started examining the financial bids for the monorail project in Riyadh after studying the technical offers for the project submitted by three global alliances, which have already been qualified to compete for implementation of the project.
Abdul Rahman Al-Shaalan, director of transport planning at the HCRD, stated that the monorail project includes the construction of a 176 km network.
It includes the most densely populated areas and government installations, and commercial, educational and health centers, which are to be linked to the King Khaled International Airport, King Abdullah Financial District and major universities, the city center and public transport terminals.
He said technical and financial offers for the bus network project this month had been received from six coalitions already qualified to compete for the implementation of the project, which extends over a length of 1,083 km covering the entire city.
The project also calls for the supply, operation and maintenance of 1,064 buses of various capacities, 776 waiting stations and car parks, besides installation of traffic control and monitoring systems, ticket outlets and operating control center, and public transport network in Riyadh.
Al-Shaalan added that the bus network is distributed at four different levels, including as many tracks to bus lines over a length of 96 km, or by 103 stations, and two tracks for the bus lines with a circular length of 83 km, 67 stations, and 18 pathways for bus lines over a normal length of 405 km. This is in addition to the regular bus lines that stretch over a length of 600 km for serving the needs of residential neighborhoods of Riyadh.
Speaking in the same context, Ibrahim Al-Eid, HCRD director of design and urban planning, observed that the region possesses many administrative, historical, commercial and tourist areas. Their master plan envisages development of these respective facilities with the participation of 14 governmental entities. There are other investment opportunities in various sectors, particularly in housing projects being coordinated with the Ministry of Housing.
Al-Eid added that one of the factors behind the success of the project was the establishment of a subsidiary company of the Riyadh Municipality, which is responsible for the management and development of the region. It enjoys wide powers including issuance of licenses and approvals, setting priorities, and preparing detailed plans for the real estate sector.
- Quiet and wise: How Oman is transforming itself into a major logistics hub
- Revealed: the top real estate tycoons in the ME
- Why did no one invest in the Suez Canal during the Economic Summit?
- Who will pay for the fire at Dubai's Torch tower?
- From oxymoron to reality: introducing affordable housing in Dubai