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Riyadh, Saudi Arabia
Riyadh Municipality, the Ministry of Municipalities and Housing, and the National Privatization Center have announced the launch of the expression of desire and qualification phase, and the submission of bids for the joint land investment project to develop a plot of land within the scope of the Municipality sector - north of Riyadh, in partnership with the private sector for a period of 50 years.
The project is the first project offered by Al Amana within the joint investment model with the private sector. The project aims to involve the private sector to design, build, operate and maintain all project facilities located on Zaid Bin Assem Street, in a strategic location on an area of 30 thousand square meters, in which the flexibility of urban planning systems allows the development of mixed-use assets, including residential, commercial, office and recreational activities, to establish quality projects that contribute to meeting the growing demand and serve the needs of the community and residents of the region, in support of the urban infrastructure in Riyadh, according to an official statement by the Riyadh Municipality.
The project is characterized by a strategic location on Zaid Bin Asim Street on an area of 30 thousand m2
The regulators have invited investors, financial institutions and local and international operators to visit the Investors Portal on the website of the National Center for Privatization to obtain more information and request the project document during the period until 3 February 2027.
Al-Amana pointed out that the launch of the project is an extension of its strategy aimed at raising the efficiency of municipal asset management, expanding the participation of the private sector in urban development, and attracting qualitative investments, which contributes to promoting sustainable urban development and keeping pace with the rapid growth witnessed by the capital.
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