Financial envelopes to open next week as East Waterfront Project moves to final stage

The Public-Private Partnership Projects Authority (PPP Authority) announced on Tuesday the completion of the technical evaluation and approval of the results of bids submitted by investors competing for the modernization, development, major maintenance, management and operation of the East Waterfront project (Phase Three) in Kuwait City.

In a press statement, the Authority said the evaluation was conducted after the competition committee completed all technical procedures related to the project, in full compliance with the regulations set out in the tender documents and the approved technical standards, reports Al-Rai daily..

The Authority added that a public session will be held next Wednesday to open the financial envelopes of the bids that successfully passed the technical evaluation stage. This step will pave the way for the financial assessment phase, the selection of the preferred investor, and ultimately the awarding of the project to the bidder offering the most advantageous proposal.

The process will be carried out in accordance with the provisions of Partnership Law No. 116 of 2014 and its executive regulations governing public-private partnership projects in Kuwait.

The East Waterfront development is one of Kuwait’s key urban and investment projects, aimed at enhancing the capital’s coastline, attracting private investment and strengthening tourism, leisure and commercial activities in the area.