Manama, October 2 (BNA) – His Excellency Eng. Wael bin Nasser Al Mubarak, Minister of Municipalities Affairs and Agriculture, affirmed the commitment to continue implementing projects that contribute to attracting more diverse investments, which in turn enhance and stimulate sustainable economic and urban growth, especially through partnership with the private sector, considering it a main driver in the development process and an important partner in supporting the provision of quality opportunities for citizens to achieve the desired development goals.
In this context, Al Mubarak referred to the Ministry's latest project, the Boulevard project in the Seef district, for which a development agreement was recently signed between the Ministry and Realcorp, as part of enhancing joint cooperation between the two parties. The total investment value reaches 3.8 million Bahraini dinars over a contract period of 25 years, for its development and operation as a mixed-use project on three plots of land with a total area of 10,972 square meters.
He stressed that this agreement supports the Ministry's strategic direction, which aims to offer land to investors through the government land investment platform, which seeks to identify government lands available for investment in recreational, commercial, and educational projects; and contributes to stimulating real estate investment in the Kingdom and accelerating the pace of implementing projects that serve citizens and residents through investment partnerships between the public and private sectors. Regarding the project's most prominent features, Al-Mubarak said that it is one of the most important projects in the Capital Governorate, distinguished by its vital strategic location in the heart of Al-Seef district, easily accessible from Sheikh Khalifa bin Salman Street. It is also located near commercial complexes. He explained that the project aims to provide a commercial, entertainment, and tourism destination in Al-Seef district, as it will include a range of facilities such as restaurants, cafes, children's play areas, parks, and parking lots, in addition to green spaces.
Al-Mubarak praised the important role of Bahrain Real Estate Investment Company "Edamah" in implementing this project, as it is responsible for providing consulting services, coordinating and supervising the implementation of this agreement in accordance with national strategies to achieve urban and economic development goals. This includes appointing them as consultants for the bidding process of the Boulevard project in Al-Seef district, which features an integrated mix of commercial and entertainment facilities.
Al-Mubarak expressed his pride in the close bilateral relationship between the Ministry and Edamah, and extended his sincere thanks and appreciation to Edamah for all the support and attention they have provided by developing a new and innovative concept for the project and structuring the aspects of the agreement, including designing a strategic concept for the project and developing a development plan, as well as highlighting this investment opportunity to bidders. He looks forward to the completion of this vital project as planned, in cooperation with Realcorp.
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