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Manama: Bahrain's housing ministry has signed a landmark BD208 million ($551.7 million) public private partnership (PPP) agreement with real estate and infrastructure development company Naseej to build more than 4,000 affordable homes.
The deal, believed to be the first of its kind in the Gulf region, aims to provide cheaper housing to needy citizens within three years to help tackle nationwide housing shortages and reduce the government waiting list, according to reports. The agreement covers the Northern City, Al Buhair Housing and Al Lawzi projects in the kingdom.
This agreement is considered the biggest...