Minister of Municipal and Rural Affairs Dr. Majed Al-Qasabi has inaugurated the Municipal Investment Portal "FORAS" which brings together all investment opportunities in various regions of the Kingdom in 285 municipalities and sub-municipalities in one unified portal, to enable investors from accessing opportunities announced by municipalities and sub-municipalities easily.
Dr. Al-Qasabi said in a statement that launch of municipal investment portal "FORAS" comes within efforts of municipal sector to raise the level of transparency in bidding and selection processes of investment opportunities announced by municipalities and sub-municipalities, as well as facilitating access to all opportunities announced in one unified portal, which enlarge the basement of investment opportunities competitors ,which in turn be reflected on development of cities.
"FORAS" portal relaxes investor from the effort of going to municipality or sub-municipality to obtain information about the bidding investment opportunities ,through opening the portal and sorting out investment opportunities according to the desired geographic scope, or according to activity which investor is looking for, in addition to possibility of viewing locations of investment opportunities on the map and reaching their locations, as well as viewing the requirements and features booklets (RFB) before purchasing them electronically very easily. The portal also aims to establish a unified database to identify needs of regions of opportunities, and raise the level of transparency in processes of bidding and RFB purchase.
"FORAS" portal enables investor to identify a range of interested investment activities, to make portal send notifications when municipality or sub-municipality bids any opportunity related to these selected activities, which are identified before by investor, that helps investor to pursue investment opportunities of interest, as well as many features that help investor in reaching the appropriate investment opportunity.
The portal includes many investment activities such as entertainment ,sports centers, factories, laboratories ,workshops, banking and ATM sites, buildings and shops, fuel stations, tourist accommodation facilities, boat anchors, waste recycling centers, hospitals and clinics, advertising locations, and kiosks.