BAHRAIN’S multi-million-dollar Manama Central Market revamp project could now get off the ground with investors stepping in to give the stalled scheme a new lease of life.
Three investors, which includes two Bahrainis, have come forward to rebuild the market as part of the first phase, with contracts expected to be signed this month, said Dr Juma Al Ka’abi, Municipalities and Urban Planning Affairs Minister.
The third investor has stepped in to build a hypermarket, he said.
Located at the former GCC (Pearl) Roundabout, the market was earmarked for a BD200-million ($530.5 million) redevelopment in August 2011, but a lack of investors meant the project stalled.
Original plans involved developing business, residential, shopping and leisure spaces with four 28-storey office and commercial towers, car park facilities, a five-star hotel, a heritage village and a park.