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07.05.2013, 09:08

Abu Dhabi City Municipality invites bids for “The Traditional Souq” project

Author: News Editor

Private sector involvement to be based on "build-operate-transfer" (BOT) model.

 

Abu Dhabi City Municipality has published tender documentation for the "The Traditional Souq" project.

First announced in April, the mixed-use development will occupy a 150,000 square metre area of land directly in front of Al Maqtaa Fort and combine a traditional-style souq (market) with boutique hotel, retail, leisure, entertainment and hospitality facilities.

Private sector companies will be required to submit proposals under a build-operate-transfer (BOT) model.

Spokesperson and investment advisor Rashed Bin Ali Al Omaira has revealed the Municipality is holding discussions with a range of strategic partners to "determine important infrastructure requirements for the project, such as electricity, water and sanitation, marine links to the souk and the surrounding environment; as well as tourism marketing - all of which are critical to delivering a successful project."

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