Bahrain’s Judicial Committee for the Settlement of Stalled Real Estate Projects plans to publicly auction the Amwaj Gateway development on 31 October.

Amwaj Gateway is a mixed-use development project located near the entrance of the Amwaj Islands development. It covers an area of 33,391 square metres and consists of retail and commercial units, seafront townhouses and apartment towers. The development also includes a 143-room hotel tower.

The committee says the decision to auction the stalled project came after all other options were explored, in accordance with Bahraini legal procedures.

The project was referred to the Judicial Committee for the for the Settlement of Stalled Real Estate Projects by the Ministerial Committee for Services and Infrastructure after concluding its studies of the project’s debt inventory and obligations.

The proceeds from the auction will be transferred to the Ministry of Justice, Islamic Affairs and Endowments.

UK-based Cluttons has been appointed with the local Mazad to organise and manage the auction.

According to regional projects tracker MEED Projects there are $2.5bn of residential and mixed-use projects on hold in Bahrain.