Bahrain inks $395M in housing, infrastructure project deals

Published August 24th, 2016 - 08:30 GMT
Bahrain is implementing a royal order to provide 40,000 units for citizens with housing projects nationwide. (File photo)
Bahrain is implementing a royal order to provide 40,000 units for citizens with housing projects nationwide. (File photo)

The Bahraini government will sign on Tuesday contracts to carry out housing and infrastructure projects worth more than $395 million funded by Kuwait and the U.A.E., within the framework of the Gulf Development Program.

The signing will take place under the patronage of Bahrain’s deputy prime minister and head of the ministerial committee for construction and infrastructure, Sheikh Khalid bin Abdullah Al Khalifa.

Bahrain’s Housing Minister Bassem al-Hamar said the $293 million Kuwait-funded projects consist in building 1247 housing units in east Hidd, the construction of another 1645 housing units and implementing infrastructure work in Hidd. Meanwhile, three contracts will be signed to carry out housing and infrastructure projects worth more than $102 million funded by the U.A.E.

The ministry will sign seven new contracts during a ceremony at the Four Seasons Hotel Bahrain Bay, in the presence of representatives from Abu Dhabi Fund for Development (ADFD), the Kuwait Fund for Arab Economic Development ((KFAED), as well as ministers and senior officials.

The Housing Minister praised the Gulf Development Program and its role in speeding the implementation of projects and reducing stalling periods, in line with the royal order to provide 40,000 units for citizens by implementing housing projects nationwide.

He also lauded government’s efforts to include 25,000 housing units in the next four years as a first phase. The minister noted major progress achieved in the distribution program of 3000 housing units across Bahrain in line with an order by Prince Salman bin Hamad Al Khalifa.

By Obaid Al Suhaiymi

 

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