Real president Perez showcased four separate plans for the revamp of the iconic stadium in October last year, with the Spanish capital club eager to enhance their matchday revenue streams.
The Bernabeu has undergone two renovations during its history, with the first adaptations coming in 1982 for the FIFA World Cup before further improvements were made in 2001.
Perez is reportedly keen to make extensive changes to the exterior of the stadium and ensure that every seat in the venue is covered by a roof.
Progress appears to be on the horizon, with the 66-year-old set to announce which firm has been awarded the contract.
"(The redevelopment) will cost between €300million and €400m," Perez said.
"The winning project will be awarded in the next few weeks."
Perez was also eager to dismiss suggestions that Bankia had helped finance the club's world-record move for Gareth Bale, after Barcelona defender Gerard Pique intimated that the Spanish bank had provided credit to help Real secure the signing of the Wales international.
"It is not true what Pique said," Perez added.
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