Saudi’s Eastern Province Municipality signs first contract for AlKhobar waterfront project

Saudi’s Eastern Province Municipality signs first contract for AlKhobar waterfront project

Saudi’s Eastern Province Municipality has signed the first contract with a local company for the development of AlKhobar waterfront project through public-private partnership (PPP) mode, the municipality said in a tweet.

The Municipality had issued Express of Interest (EOI) invite for the waterfront development project in November 2020 with a submission deadline of 13 December 2020, according to a statement posted on National Centre for Privatisation & PPP website.

The project involves development, operation and maintenance of mixed-use commercial real estate on three separate plots of land totalling 60,960 square metres under a 25-year build - operate – transfer contract.

(Writing by D Madhura; Editing by Anoop Menon)

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