Naseej submits top BD19.4m bid for 2,500-home Madinat Khalifa project

TDT | Manama

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Naseej has submitted a BD19.358 million bid for a state-owned plot in Madinat Khalifa earmarked for a 2,500-home housing project, outbidding Almoayyed’s BD11.496 million offer, according to Tender Board records.

The two companies were the only bidders to qualify for the project, which is being tendered under the Government Land Development Rights Programme.

Under the scheme, the winning developer will purchase the land and take responsibility for designing, financing, constructing, marketing and selling the homes, as well as delivering the supporting roads, utilities and infrastructure.

The homes will be offered to buyers eligible for the Ministry of Housing and Urban Planning’s housing finance programmes and must comply with approved pricing requirements.

Tender documents state that the final award will be determined through a limited auction between the qualified bidders, with the contract going to the developer offering the highest land value while meeting all agreed project conditions.

The Madinat Khalifa development forms part of broader efforts to accelerate housing delivery through private-sector participation and provide more housing options for citizens on waiting lists.

The Government Land Development Rights Programme enables private developers to build housing projects on government land and market the units to eligible citizens through financing schemes such as Tasheel and Mazaya.