{"id":23869,"date":"2016-08-24T22:58:35","date_gmt":"2016-08-24T15:58:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=23869"},"modified":"2016-08-24T21:09:48","modified_gmt":"2016-08-24T14:09:48","slug":"dh2-9-billion-grant-to-kick-start-building-of-bahrains-north-city","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dh2-9-billion-grant-to-kick-start-building-of-bahrains-north-city\/","title":{"rendered":"Dh2.9 billion grant to kick-start building of Bahrain's North City"},"content":{"rendered":"


\nA major new city that will eventually house a population of up to 90,000 people in affordable accommodation in Bahrain looks set to finally go ahead after the project gained a Dh2.9 billion grant from the Abu Dhabi Fund for Development (ADFD).Al Madina Al Shamliya, or North City, project is set to be built on reclaimed land to the north of the island, close to Budaiya. It is being built in phases, with the first worth Dh374 million set to start shortly now that funding has been agreed. It will provide infrastructure services to support building work on Islands 13 and 14.This will be followed by a second, Dh2.56bn phase that will support construction of the first 2,694 homes on the site.ADFD is providing the development grant to Bahrain’s ministry of housing, which is overseeing the development of North City. It said that the project will be part of a series of interlinked, man-made islands that are, according to the kingdom’s minister of housing, Basim bin Yacob, “part of a much broader plan to build 40,000 new homes for our people”.ADFD’s funding is part of an overall aid package worth US$10bn being provided by four Gulf states. The UAE, Saudi Arabia, Kuwait and Qatar each pledged to provide $2.5bn to Bahrain in 2011. ADFD is overseeing the UAE’s investment.Already this year, the UAE has provided a grant worth Dh3.73bn to help fund the expansion of Bahrain’s International Airport, just after a contract to build a new terminal was awarded to a joint venture between Arabtec and Turkey’s TAV Construction.Mr bin Yacob said that the UAE was “a committed friend and partner” in Bahrain’s development efforts.”We are hugely appreciative of this funding which will help us [relieve] some of our chronic housing shortages here in Bahrain with the North City project. I hope that such economic and social development, such as with our new airport, will be a catalyst for national and regional growth.”Mohammed Saif Al Suwaidi, the director-general of ADFD, said: “The North City project is an important project which will be an economic boost to Bahrain through new construction and opportunities as well as easing urgent overcrowding issues.”The project has been subject to some delay, with tenders for initial infrastructure packages initially floated two years ago. However, work has progressed this year, with Bahrain-based consultancy firm SSH being appointed as contract manager and site supervisor for the infrastructure and bridge works in February this year. It said the infrastructure works involved installing over 5.5 kilometres of roads and utilities such as water, drainage, irrigation and telecoms networks, as well as both road and pedestrian bridges connecting the islands.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Dh2.9 billion grant to kick-start building of Bahrain’s North City<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A major new city that will eventually house a population of up to 90,000 people...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-23869","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6cZ","jetpack-related-posts":[{"id":16604,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-sells-dh1-billion-of-homes-at-yas-acres-ready-to-launch-second-phase\/","url_meta":{"origin":23869,"position":0},"title":"Aldar sells Dh1 billion of homes at Yas Acres, ready to launch second phase","date":"June 15, 2016","format":false,"excerpt":"\r Aldar Properties has said that it will launch the second phase of its Dh6 billion Yas Acres project after generating more than Dh1bn by selling out the first phase.The company said that it plans to start selling 125 homes under the second phase, which will be a mix of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37741,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-developer-completes-phase-three-of-bloom-gardens-project-near-khalifa-park\/","url_meta":{"origin":23869,"position":1},"title":"Abu Dhabi developer completes 'phase three' of Bloom Gardens project near Khalifa Park","date":"December 12, 2016","format":false,"excerpt":"\r Bloom Properties has completed the third phase of its Bloom Gardens development near Khalifa Park in Abu Dhabi.Bloom said on Sunday that it had completed construction work on the 147 villas and town houses ahead of a scheduled handover in the first three months of next year. Bloom, part\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24214,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bahrains-mega-projects-show-invstor-appetite-for-gcc-property-remains-strong\/","url_meta":{"origin":23869,"position":2},"title":"Bahrain's mega-projects show invstor appetite for GCC property remains strong","date":"August 28, 2016","format":false,"excerpt":"\r Bahrain's Diyar Al Muharraq, a US$2.5 billion waterfront city development at Bahrain Bay comprising seven islands, reflects sustained investor appetite for the region's property sector, its chief executive says.Maher Al Shaer, the chief executive of Diyar Al Muharraq, will present the development at the Cityscape Global in Dubai, which\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24216,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bahrains-mega-projects-show-investor-appetite-for-gcc-property-remains-strong\/","url_meta":{"origin":23869,"position":3},"title":"Bahrain's mega-projects show investor appetite for GCC property remains strong","date":"August 28, 2016","format":false,"excerpt":"\r Bahrain's Diyar Al Muharraq, a US$2.5 billion waterfront city development at Bahrain Bay comprising seven islands, reflects sustained investor appetite for the region's property sector, its chief executive says.Maher Al Shaer, the chief executive of Diyar Al Muharraq, will present the development at the Cityscape Global in Dubai, which\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":85372,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bahrains-seef-appoints-builder-for-133m-liwan-project\/","url_meta":{"origin":23869,"position":4},"title":"Bahrain's Seef appoints builder for $133m Liwan project","date":"April 12, 2018","format":false,"excerpt":"\r Kuwaiti Manager Holding Company is appointed as main contractor for mixed-use development\r \r Source : arabianbusiness.com\r Read more...Bahrain's Seef appoints builder for 3m Liwan project","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28519,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-binladins-cash-flow-crisis-starts-to-ease\/","url_meta":{"origin":23869,"position":5},"title":"Saudi Binladin's cash flow crisis starts to ease","date":"October 4, 2016","format":false,"excerpt":"\r The cash flow crisis that has engulfed Saudi Arabia's biggest builder, Saudi Binladin Group, has started to ease with much-needed payments from the kingdom's finance ministry filtering through. The Wall Street Journal had reported that payments of between US$800 million (Dh2.9 billion) to $1.1bn had been made to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/23869"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=23869"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/23869\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=23869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=23869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=23869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}