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FINANCIAL NEWS
Three firms bid for Bahrain’s Al Fateh Corniche facelift plan
31 Dec 2012
(MENAFN) Bahrain has received up to USD100 million in bids from three firms for a major revamp for the Gulf state’s Al Fateh Corniche, the official news agency BNA reported.
BNA said that New Investment Company placed the biggest bid of USD99.9 million, followed by Fortune Promoseven with USD95.44 million bid, and Jenan Properties, with USD29.16 million bid.
The winning firm will work out the facelift plan including the construction of a new walkway and install playground facilities and create recreational and family areas as well as restaurants and coffee shops as part of the second phase of the corniche’s 153,430 sq m area facelift.
Work to clear up the coastline along the corniche is expected to begin early next year, according to BNA.
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