The Cabinet of Ministers approved the resolution furnished by the Prime Minister as the Minister of Urban Development and Housing for implementing the following procedure considering the time spent when selecting appropriate investors for the development of lands belong to the Urban Development Authority within the limitations of the prevailing methodology followed.
- Entrusting the power to the Urban Development Authority for calling the development proposals for releasing the lands belongs to the Urban Development Authority as per the government procurement guidelines for the development activities with the total participation of the private sector as well as the partnership of the state sector according to the proposed development plans.
- Invitation of proposals from the interested prospective investors through competitive bidding for the development of lands belong to the Urban Development Authority that has been identified for the projects expected to be implemented with the joint partnership of the government and private sector.
- Appointment of a negotiation committee by the Cabinet of Ministers for evaluation of the said proposals and appointment of project committees according to the nature of each project.
- Sticking to the valuation of the Chief Evaluator of the Government in deciding the value of the lands.
- Awarding the selected plots of land to the prospective investors, depending on the recommendation of the negotiation committee appointed by the Cabinet of Ministers and subject to the approval of the Cabinet of Ministers.