Saudi Arabia's Ministry of Municipalities and Housing (MOMAH), in partnership with the National Center for Privatization & PPP (NCP) and Ashraq Development Company, the development arm of the Eastern Province Municipality, has launched the Request for Qualification (RFQ) phase for the King Fahd Suburb Boulevard Project in the Eastern Province.
The project will be developed through a Public-Private Partnership (PPP) under a Design, Build, Finance, Operate, Maintain and Transfer (DBFOMT) model, with a total contract term of 43 years.
Located in Al Bayda Governorate in the Eastern Province, the King Fahd Suburb Boulevard Project covers an area of approximately 1 million square metres and will be delivered in two development phases.
Under the proposed PPP agreement, the selected private-sector partner will be responsible for the design, development, financing, construction, operation and maintenance of a comprehensive mixed-use urban destination, before transferring the project back at the end of the concession period.
The scope of work includes the development of a 4-kilometre integrated mixed-use zone extending along a central boulevard and linear parklands, forming part of a wider 7.3-kilometre corridor. The master development will feature a balanced mix of development plots, green spaces and supporting infrastructure.
The project will also include a range of leisure and recreational facilities, public parks, entertainment venues, retail outlets, office spaces and road networks, creating a vibrant urban environment and enhancing the quality of life for residents and visitors in the Eastern Province.
The King Fahd Suburb Boulevard Project is expected to play a key role in reshaping the urban landscape of the King Fahd Suburb area in Dammam while creating significant opportunities for private-sector participation in the Kingdom’s municipal infrastructure and urban development sector.
The project supports the objectives of Saudi Vision 2030, particularly initiatives aimed at improving quality of life, promoting sustainable urban development and increasing private-sector investment and participation in infrastructure projects. -TradeArabia News Service
