A government document revealed a comprehensive vision for the development and implementation of projects on Failaka Island and the development of a tourist park. The project represents a unique opportunity to establish a development, tourism and investment project with international standards and within the existing laws and procedures at no cost to the state, and provides a valuable addition to the country’s tourist attractions.
The document, according to a local Arabic daily, stated that the Failaka Island Resort development project would:
First, revive the tourism sector in the country.
Second: Provides jobs and contracting opportunities for Kuwaiti companies of different sizes and in different sectors.
Third: Attract Gulf and non-Gulf tourists.
Fourth: Confirms the government’s seriousness in developing the island and attracts the reluctant investor.
Project advantages:
— Encourage the tourism sector in Kuwait, and moving the economic wheel on Failaka Island at the lowest cost to the state budget.
— Government participation by providing touristic lands at a cost that encourages the private sector.
— Participation of the private sector to attract the best models of tourist parks through construction, development and operation.
— Increasing the supply of land allocated for recreation, which will lead to a decrease in fixed operating costs.
— Enhancing the demand and raising the value of projects and related services directly and indirectly, in preparation for the implementation of the comprehensive development project for Failaka Island entrusted to the Minister of Municipality.
— Enabling the private sector to attract talent and develop unique and innovative projects with economic, social and environmental returns.
General perception of the project:
During the process of redeveloping and operating the park, a commitment is made to preserve the unique cultural, social and environmental heritage of the island, in line with the comprehensive vision of Failaka Island.
— The Failaka Tourist Park site is re-sorted and divided into 2-4 parks as needed, provided that each park has a special character, to serve various segments of clients (tourist park, family park, heritage park), sanatoriums park for physiotherapy or Convalescence and recuperation.
— The development of public facilities and services for all parks in an integrated manner to serve the project as a whole, provided that collective and alternative internal transportation are provided to ensure a comfortable and attractive environment for citizens.
Lease for 20 years using the differentiation mechanism:
1 – The project is offered for lease for a period of 20 years in accordance with Article 17 of the State Property Law which stipulates that it is permissible to lease the state’s private real estate or movable property at a nominal fee or less than the same wage to a legal or natural person with the intention of achieving a purpose of public benefit, and the lease is based on the proposal of the Minister or the head of the competent authority or institution and the approval of the Council of Ministers.
2 – The desire of the Ministry of Finance to offer the project for exploitation and to attract offers from qualified and licensed private sector companies is announced.
3 – The terms and conditions for submission are set to serve the overall perception of the island from the Ministry of Municipality and in line with the highest international standards.
Terms and conditions of submission:
1 – It should be a listed Kuwaiti company, and a foreign company is allowed to be listed on the stock market of its country of incorporation.
2 – Should have no less than fifteen years of experience in the development and management of parks or hotels.
3 – The company should have experience in developing similar projects.
4 – The objectives of establishing the company’s business include the completion of the works referred to in this project.
5 – The value of the investment (including the development of the island’s public utilities such as the infrastructure).
6 – The speed of implementation of the project according to the submitted bid.
7 – Innovation and strengthening the historical and social identity of the island.
Meanwhile a team has been established to work out the best ways to establish a tourist facility in Failaka Park, and the documents required from the team include:
1 – Survey plans (the team was notified that there are no plans from Kuwait Municipality) and any surveys.
2 – The park document (the team was notified that there are no plans from the Kuwait Municipality).
3 – Previous studies (technical – architectural – financial and economic) including the establishment of a tourist park in Failaka.
4 – Land uses (commercial – investment – etc…).
5 – The capacity of the electricity and the required size for the proposed project.
6 – Connections of water lines for the project and the available capacity.
7 – Laying the infrastructure for the current project.
8 – The legal status of the current project.
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