Kuwait National Cinema and First United Co. put the finishing touches to a contracting deal of KD 39.8 million for the construction of the first phase of a commercial, entertainment, and cultural complex in Kuwait.
The new complex, situated at South Sabahiya, will be spread across a total area of 79,640 square metres, according to a statement to the Kuwaiti bourse on Monday.
Kuwait National Cinema also mentioned that it will provide further details in this regard during the project execution phases. As for the material impact, the transaction will contribute to higher fixed assets (projects under implementation) as well as an increase in the company’s liabilities during the project implementation period.