The Eastern Province Municipality, Saudi Arabia announced in a statement, the start of the tendering process for the AI Khobar waterfront PPP development project.
The PPP project aims to attract developers to develop, operate and maintain mixed-use commercial real estate on three separate plots of land.
The PPP project is intended to be a BOT contract (build – operate – transfer) for a period of 25 years, with a total area of 60,960 m2 located on AIKhobar Courniche in eastern region of Saudi Arabia.
As per the statement, the Eastern Region Municipality will be tendered the project in two phases: the first phase is to qualify bidders through an Expression of Interest (EOI) then a Request for Qualification (RFQ), and the second phase is where qualified bidders – or developer or developers’ consortium – will compete to develop the project.
Plot A (25,980 m2) is intended to be a commercial, entertainment, and food and beverage complex. In addition to the development a luxury shopping complex, fine food and drinks restaurants, and entertainment facilities on plot B (25,980 m2).
It is also expected that a luxurious hotel fine dining facilities will be developed on Plot C (9,000 m2). The pieces of land are located in close proximity to the Golden Belt and Green Belt neighborhoods.
The final date to submit the EOls will be 13 December 2020.
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