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17/09/2025 03:19 AST
Kuwait's government on Sunday invited local and international companies to take the first step in bidding for contracts as part of its plans to develop three new cities to help tackle a shortage of housing in the country.
The project to build the new cities, which will cover more than 300 hectares (740 acres) in total, is the first to be implemented under a new real estate development law that opens Kuwait's housing sector to private investment, said a report in Gulf Daily News.
Kuwait is struggling to meet housing demand among its 1.5 million citizens, and 100,000 people are currently on a government waiting list for a home, with some waiting years. The state provides housing for all Kuwaiti families.
The projects would be developed under a 2023 law which allows the government to set up joint companies with local and foreign private partners to build new housing to sell to Kuwaiti citizens, the government said in the Official Gazette.
The 30-year contracts, including a four-year construction period, will cover design, financing, building, operation, maintenance and the sale of residential units, with non-residential assets to be transferred back to the government, the announcement said.
The new cities, located to the north and west of the capital Kuwait City, are called Al Mutla'a City, East Saad Al Abdullah City and West Saad Al Abdullah City.
Trade Arabia
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17/09/2025
Kuwait Petroleum Corporation (KPC) CEO Sheikh Nawaf Saud Al-Nasser Al-Sabah on Tuesday underlined the importance of unifying efforts and building expertise among oil sector employees to enhance perfo
KUNA
17/09/2025
Qatari banks are set to benefit from the country's accelerating diversification agenda and the expansion of liquefied natural gas (LNG) production, with credit demand expected to grow across tourism,
The Peninsula
17/09/2025
The latest data from the National Center for Statistics and Information (NCSI) shows that Oman's telecommunications sector continued to achieve remarkable growth rates by the end of July 2025.
Times of Oman
17/09/2025
Saudi Minister of Energy, Chairman of the Board of King Abdullah City for Atomic and Renewable Energy, and Chairman of the Nuclear and Radiological Regulatory Commission Prince Abdulaziz bin Salman b
Asharq Al Awsat
17/09/2025
The 34th edition of the COMEX Global Technology Exhibition witnessed a strong presence from government entities, which unveiled 15 new digital applications, platforms, and services, alongside the si
Muscat Daily
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