Gulf state says residential units will be built over the next two years
Bahrain’s Shura Council plans to spend $1.54bn over the next two years to build 16,000 residential units in the tiny Gulf state, it was announced on Monday.
According to a report by the Gulf Daily News, the plan is part of the Ministry of Housing’s plan to build more than 50,000 units in the Kingdom. The move is also part of a decision to clear applications that have piled up over the last few years, a senior Shura Council official said.
“The massive project will be funded through the new state budget and the GCC Marshall Plan,” explained Khalid Hussain Al Maskati, financial and economic affairs committee chairman for the Shura Council.
Earlier this year, the municipality of Bahrain announced that construction work would begin on the $214mn King Faisal Corniche, one of the country’s biggest seafronts, following a series of extensive delays.
The development will comprise of a theme park and tourist attractions, as well as family facilities, restaurants and a 1km long walk way.