Kuwait invites proposals from six developers for new mixed-use complex
Kuwait Municipality and Kuwait Authority for Partnership Projects (Kapp) have invited six shortlisted real estate developers from the country to submit proposals for an upcoming entertainment, cultural, commercial and sports centre within the Al-Egaila area of Al-Ahmadi Governorate, Construction Week reported.
Among the six developers who will be submitting the proposals are Mabanee Company; and a consortium of developers led by United Real Estate Company and United Building Company, Kuwait United Construction, United Facilities Management, and Dar SSH International Engineering Consultants.
Other developers invited to submit proposals include A’yan Real Estate Company; National Real Estate Company; a consortium led by Kuwait Real Estate (Aqarat) with Alwafir Marketing Services Company; and an Al-Qurain International Real Estate-led consortium comprising Kuwait Engineering Bureau, Alkuthban Alkuwaiti General Trading and Mudon Ahlia Real Estate.
According to information on Kapp’s website, the last day for the companies to submit the proposals for public-private partnership (PPP) project is 14 June, 2019.
The tenure of the PPP agreement is 30 years, including a maximum of three years for the design, financing, and construction of the project, which will come up within Fintas Commercial and Administrative Centre in Al Egaila.
Kuwait Municipality has allotted 85,500m2 for the four-storied sports, commercial, entertainment, and cultural complex, which will have a gross leasable area of 65,500m2.
A parking area with a capacity to accommodate 2,680 cars will also be constructed.