Kuwaiti developer Tamdeen has unveiled $700 million plans to build the Al Khiran mixed-use development which will be at the heart of the Sabah Al Ahmed Sea City.
The resort-style project which will be spread across 350,000 square metres of waterfront will eventually create significant opportunities for Kuwait's tourism and business growth, the company said in a statement.
The project will include Kuwait's first high-end Outlet Mall, two high-rise residential towers, one furnished apartments tower, a marina to house over 900 boats and a five-star hotel with an international spa component.
The 75,000 sq m luxury Outlet Mall within Al Khiran will have an outdoor ambiance with indoor streets covered by continuous skylights to provide natural light, the statement said.
Launching the project, Mohammed Jassim Khalid Al Marzouq, chairman of Tamdeen Group, said: "We believe in Kuwait, in its economic future and its excellent legal systems. The new found cooperation between the Government and Parliament has given us even more confidence to invest further in Kuwait. Today we have projects worth $2 billion in the pipeline.
"Kuwait... also remains one of the most underserviced markets in the GCC in terms of quality retail space... This is where Al Khiran will offer value not just in terms of shopping but an overall customer experience."
The Tamdeen Group has previously built the iconic 360 MALL and the Al Kout waterfront project, both of which have become important symbols of Kuwait.
"We also believe that Kuwait has huge untapped potential for 'conservative tourism' and this project will attract people from our three large neighbors creating a new destination," added Al Marzouq.
At the centre of the project will be the Al Khiran Park with a rich and varied vegetation which will include a variety of open air attractions for children as well as huge performance spaces.
Al Khiran aims to become the entertainment and commercial cornerstone of the new community at Sabah Al Ahmed Sea City and surrounding areas of over 200,000 people.