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Bahrain launches $30bn offshore cities plan

November 25, 2021
real estate

RIYADH: Bahrain launched on Wednesday a new strategic projects plan to invest $30 billion in over 20 new projects, with the construction of 5 new offshore cities, according to Bahrain News Agency (BNA).

The strategic project plan will see infrastructure development, including a new causeway connecting Bahrain to Saudi Arabia.

Bahrain will also establish a 109km metro system, the 22.5km Northern Road.

The strategy will create jobs, and boost economic growth in Bahrain.

Bahrain will increase refining capacity from 267,000 to 380,000 barrels per day through the Bapco Modernisation Programme (BMP), which is the largest industrial project in the history of Bahrain.

As part of the new strategy, the private developers will be able to bid for contracts to develop government land through the Sharaka program.

arabnews