Khalidiya Cooperative Society Chairman Muhammad Ratib and CEO Osama Al-Mansour announced that a new mall will be launched, after the demolition of the old market which will be completed within a few days, and then linked to the old mall in the coming period, Al-Anbaa reported. The new mall, which will consist of a first floor, a basement and a mezzanine, will be a cooperative marketing and entertainment destination and is expected to be completed within a year and a half, with a value of approximately two million dinars. It will also include investment activities and international brands and will be a landmark and major addition to the financial and service center. The said mall will be presented according to the mechanism and procedures of the Ministry of Affairs, and that the owners of small projects from the region will have a share of the mall.
Al-Mansour said that following the demolition, work on the procedures related to contracting companies and developing a vision for the mall will be carried out, and that there will be no change orders during construction to avoid increasing costs and preserve shareholder funds. In addition, the current board of directors has removed the biggest obstacle to the new mall construction project, which was relocating the wholesale and catering branch. He explained that a contract for building the shop complex was signed with Dar Al-Dirah for Engineering Consultations in 2018, through the association’s representative and former president, Khaled Al-Busairi.
Moreover, Al-Mansour added that the first half of 2023 witnessed an increase in sales by more than 400,000 dinars, and that the association is aiming to reach sales of 700,000 dinars by the end of the year. He said that the association will distribute 12% dividends to shareholders despite the construction work. The official also said he made several achievements since assuming presidency of the board of directors including correspondences to government agencies and the Ministry of Affairs, intensified meetings with the engineering office, as well as partnership with colleagues namely Abdullah Al-Jeeran, Jassem Al-Munaikh, Fahd Khalifa and Khaled Al-Mishaal.
Read Today's News TODAY... on our Telegram Channel click here to join and receive all the latest updates t.me/thetimeskuwait
