Al Muthanna Complex PPP project is awarded to Real Estate House consortium
Kuwait Authority for Partnership Projects (KAPP) announced that the Higher Committee for Public-Private Partnership projects has approved a consortium led by local company Real Estate House as the winning investor for the Al Muthanna Complex Real Estate Project located in Block 12 of the Qibla area, on state-owned Plots No. 16 and 17, totaling 17,183 square metres (sqm).
Other participants in the consortium are National Investments Company, Arkan Al‑Kuwait Real Estate Company, Beyout Holding Company, and Osoul Investment Company. The project is valued at KWD77.6 million (US$252 million). The project’s scope encompasses rehabilitation, renovation, new development, major and routine maintenance, as well as management and operation under a 15-year usufruct agreement.
KAPP has also completed the technical evaluation and approved the results of the bids submitted by the seven bidders competing for the Waterfront Real Estate Project - Phase 3, located in the Sharq Area of the capital, Kuwait City, which was tendered at the same time as the Al Muthanna Complex.
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