A BD75.56-million ($198.4 million) project to build 1,560 homes in the Southern Governorate in Bahrain will start soon.

The contract has been signed between the Housing Ministry and Tamcon Contracting, a subsidiary of Al Khaleej Development - Tameer and Inovest, and its Saudi partner Naba International Commercial Enterprises, said a report in the Gulf Daily News (GDN), our sister publication.

It is described as the governorate's largest housing project and is being funded from a $10-billion grant pledged to Bahrain in 2011 by its GCC neighbours.

The money is coming from Saudi Arabia's Saudi Fund for Development and work is expected to start next year.

"The project will consist of 423 D11 type, 882 units of type Dana A and Dana B, in addition to 12 residential towers, standing at five floors with 192 apartments each," said Naba chairman Mutlaq Al Qahtani.

Meanwhile, Tamcon chairman Farid Al Fozan said the project would take 36 months to complete.

"The time frame for delivery and all the necessary work plans are co-ordinated with the ministry," he said.

"It is hoped that once the project date is specified, all these plans will have received their respective stamps of approval."

Tamcon's chief executive Zuhair Abdulaziz said the project represented a boost for the construction and real estate sectors.

"The project provides further impetus in terms of employment, harnessing the skills of both Bahraini and Saudi youth in the fields of engineering, structuring and construction," he said.

Details of the project were announced in the presence of Housing Minister Bassem Al Hamer and assistant under-secretary for housing Sami Buhazza. - TradeArabia News Service