Muharraq Municipality Council has received expressions of interest from investors in Bahrain and the UAE
- Bahrain looks to revive $65.8m beachfront project
- Project has been stalled due to land disputes
Bahrains Muharraq Municipality Council is looking for investors in a bid to revive the previously stalled Al-Ghous Corniche tourism project.
The project, which was approved in 2012 by the former Municipalities and Urban Planning Affairs Minister, has faced major delays after disputes over land ownership prompted the original investors to abandon the project.
The $65.8m scheme was initially supported by a consortium of Turkish, Saudi Arabian and local businesses.
Muharraq Municipal Council now wants to revive the project, which is due to be constructed on the coast between the Sheikh Hamad bin Isa Causeway and the Sheikh Isa bin Salman Causeway.
The marina project will comprise a hotel, shopping centre, an indoor theme park and a public beach according to council chairman Mohamed al-Sinan.
It is a huge site and we dont have the required financing within the national budget to create a recreational family destination, the council chairman told MEED. hopefully that would be taken care of by an investor, who will be obliged to allocate a percentage for the public.
It is understood that the municipality has received expressions of interest from one local and one UAE-based investor.
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