Alwataniya Group launches $300 million global joint venture with Serbian and Canadian Giants
The Group is expected to play a transformative role in executing projects across both the public and private sectors in Kuwait and the broader region.
In a significant step towards regional expansion and international collaboration, Alwataniya Group for General Trading and Contracting Company has signed cooperation protocols with two prominent global firms — Jadran of Serbia and Bisco Plastic of Canada.
The signing ceremony marked the launch of a joint venture that will drive real estate development and infrastructure rehabilitation projects valued at over $300 million.
The event, held in the presence of notable international and regional figures, included Patrick Van Den Eede, Director of the European Region at Jethro International for Civil Diplomacy and President of the “Spirit of Europe” organization, which promotes environmental innovation; Sheikh Rakan Bader Al-Sabah, Chairman of Alwataniya Group; and Nikola Malpassa, Founder and CEO of Jadran Serbia.
The Serbian company Jadran, with over 75 years of experience and a global reputation in the building finishing sector, and Canadian-based Bisco Plastic, a trusted supplier of infrastructure and construction materials worldwide, bring extensive expertise and capabilities to the partnership.
Their collaboration under the supervision of Alwataniya Group is expected to play a transformative role in executing projects across both the public and private sectors in Kuwait and the broader region.
Speaking at the signing ceremony, Sheikh Rakan Bader Al-Sabah, Chairman of the Board of Alwataniya Group expressed enthusiasm about the collaboration, stating that the agreements come as part of the company’s broader operational expansion strategy, starting with projects in Riyadh, Saudi Arabia, following Alwataniya’s strong performance in Kuwait’s local market.
Sheikh Rakan revealed that the joint venture with Jadran and Bisco will focus on real estate development and infrastructure upgrades, particularly in new housing cities in the north and south of Kuwait.
He emphasized that the deep industry knowledge and high efficiency of the two firms will enable the delivery of high-quality projects in record time, while minimizing costs. Thanks to the availability of resources, materials, experienced labor, and financial liquidity, projects can be implemented and handed over as unified, complete developments.
Highlighting the strategic role of the real estate developer, Sheikh Rakan noted the potential impact on resolving Kuwait’s housing crisis, easing pressure on the Public Authority for Housing Welfare, and reducing strain on the state treasury by accelerating project delivery and reducing bureaucratic backlogs.
In turn, Patrick Van Den Eede praised Alwataniya Group’s active membership within the Jethro Organization, which operates in over 100 countries and is headquartered in Europe.
He commended the company’s performance in executing both government and private sector real estate projects in Kuwait, under the leadership of Sheikh Rakan Al-Sabah, who he described as one of Jethro’s distinguished “civil diplomats.”
Van Den Eede concluded by affirming that the new partnerships with Serbian and Canadian firms will elevate Alwataniya Group’s operations to a new level of international expansion, reinforcing its mission to build innovative, sustainable, and impactful infrastructure both inside and beyond Kuwait.
