The Public Authority for Housing Welfare (PAHW), Kuwait signed an agreement with consortia of Saudi-Kuwait based companies, for the development of Jaber Al Ahmad residential city.
The value of signed agreement is KWD 50 million ($163.1 million)
The agreement signed with the following consortia of companies:
- AlArgan International Real Estate Company, Saudi Arabia
- Combined International Real Estate Company, Kuwait
The consortia established and execute the project under the company name G2 General Contracting Company for Buildings.
Project scope of work includes the designing, construction, financing, operation, maintenance and transfer of investment to the PAWH.
The project includes Office space, galleries, cafes and multi-purpose hall in the city of Jabel Al Ahmad.
The project will be developed by the consortium on a total area o148,560.94 square meters and the building area of 125,000 square meters.
The project is expected to implemented within a period of 4 years followed by a 25 years operation and maintenance period.
PAHW earlier awarded another development project of $510 million at Jaber Al Ahmad residential city project to the local consortia of companies. (read more)
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