Amwaj Gateway Development Project Auction Postponed for 7th Time due to Absence of Bidders
2018-12-11 - 8:50 p
Bahrain Mirror: Bahrain's Judicial Committee for the Settlement of Stalled Real Estate Projects decided to postpone Amwaj Gateway development project auction to January 9, 2019, due to absence of bidders.
The committee set the auction with a starting bid of BD 17.5 million.
The committee proposed the project last November for 36 million BD and then decreased its price to 30.5 million then to 22.5 million. The project was set for auction 5 times and failed to be sold due to absence of bidders. The fifth bid has been knocked down to M Tech Services (in April 2018), however, the company failed to pay the amount later, which made the committee put the project for auction for another two times in November and December 2018 amid absence of bidders.
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