The acting Deputy Director General for Investment Affairs and Private Sector Projects at the Public Authority for Housing Welfare, Eng. Anwar Al-Hulaila, announced that the investment projects implemented by the PAHW, the bids it presents, and the contracts it provides are witnessing progress in their completion in cooperation with the private sector and relevant government agencies.
Al-Hulaila said in a press statement that the total capital costs of the projects that were awarded and supervised by the investment sector and those contracts were concluded to be financed by investors amounted to 424 million dinars, with total revenues throughout the contracted investment periods exceeding 281 million, reports Al-Rai daily.
He stated that the investment projects being implemented in the residential cities of Jaber Al-Ahmad and Sabah Al-Ahmad are witnessing progress in site works, adding that work is underway to complete the implementation of infrastructure and road works and begin building construction work for the investment opportunity S2 located in “Sabah Al-Ahmad.”
He pointed out that the investment opportunity S3 in the city is being worked on to complete its licensing procedures by the municipality, noting that the project contains a traditional market and a hotel on an area of 40 thousand square meters.
Regarding the investment projects in Jaber Al-Ahmad City, Al-Huaila stated that the investment opportunities J2 and J3 located in the city are witnessing progress in the implementation of site works, indicating that the J2 project contains a commercial center consisting of office space and exhibitions with a total area estimated at 148 thousand square meters, including the J3 project is a commercial complex in addition to 21 residential buildings containing 204 residential apartments of different sizes and adjacent villas for rent through the project investor on an area of 217 thousand square meters.
Al-Hulaila announced that the investment sector has completed the final preparations for signing the M1 investment opportunity contract in Al-Mutlaa City with the winning investor, and is working to complete the procedures for signing the K1 investment opportunity contract with the winning investor, which is located in the South Khaitan area and is related to developing a commercial complex.
He added: Work is underway to complete the award procedures after negotiating with the winning investor to establish a private school in Jaber Al-Ahmad Residential City on an area of more than 8,000 square meters, in addition to the private school located in the service axis of Sabah Al-Ahmad Residential City on an area of 9,000 square meters, which was completed.
Al-Hulaila confirmed that the Investment Affairs and Private Sector Projects Sector is working through the relevant committees to evaluate the investment opportunity S5, which includes developing 3 public parks for commercial uses in suburbs A, C, and D of Sabah Al-Ahmad Residential City, on a total area of more than 35 thousand square meters, in addition to the evaluation work related to the investment opportunity Q1 located in the Kairouan area, which contains a commercial complex and a health club on a total area of 6,920 square meters and for investment periods specified in 22 years.
Al-Hulaila explained that the Corporation manages 47 contracts for leasing gas stations in its projects with the National Petroleum Company on areas of 357 thousand square meters, with a return of up to 1.47 million dinars annually.
He added: The Corporation is working in cooperation with the National Petroleum Company to establish a main gas station located on Sheikh Jaber Al-Ahmad Al-Sabah Road adjacent to the residential city of Al-Mutlaa, with an area of 60,000 square meters, which includes, in addition to the station, commercial uses, restaurants, parking and rest services for trucks, and green spaces.
Al-Hulaila announced that the Corporation has concluded 7 contracts to benefit from lands to establish banking branches for banks in its projects, with total revenues amounting to 291 thousand dinars annually, as work is underway to complete the procedures for offering 4 other sites in the residential city of Al-Wafra, the northwest Sulaibikhat region, and the West Abdullah Al-Mubarak region.
It was stated that the Corporation is in the process of concluding usufruct contracts for three sites to establish car repair and maintenance centers with the winning bidders in Saad Al-Abdullah City, the West Abdullah Al-Mubarak region, and Jaber Al-Ahmad Residential City, with annual revenues amounting to 441 thousand dinars, indicating that all bids are limited and have been awarded to project owners. Small and medium.
Read Today's News TODAY... on our Telegram Channel click here to join and receive all the latest updates t.me/thetimeskuwait
