Bahrain's Ministry of Housing and Urban Planning has announced that it has received two bids - from leading developers Naseej and Almoayyed Contracting - for the Madinat Khalifa housing project, a development of more than 2,500 homes under the government's Land Development Programme (GLDP).

The project covers the development of housing units and supporting secondary and tertiary infrastructure on two government-owned land parcels, according to the tender notice issued by Ministry of Housing and Urban Planning.

It will be designed, financed, built, marketed and sold by a private-sector developer to beneficiaries of the ministry's housing finance programmes, it stated.

As per the Bahrain Tender documents, the project will be awarded through a limited auction among prequalified bidders, with the winner selected based on the highest land value offer submitted to the ministry, subject to meeting project requirements.

The highest bid was submitted by Naseej valued at BD19.36 million ($51.3 million), while Almoayyed Contracting offered a bid of BD11.5 ($30.4 million).

The ministry said the project forms part of the GLDP initiative aimed at accelerating housing delivery through partnerships with the private sector.-TradeArabia News Service