Kuwait: Two new real estate projects
The Kuwait-based Commercial Real Estate Company (CRC) has started the accomplishment of two new projects, which their total cost hit 51 million Kuwaiti Dinars ($174.6 million), reported the Kuwaiti newspaper, Al-Qabas (September 7, 2005).
The first of these projects is Kuwait Commercial Center, with a cost of 21 million Kuwaiti Dinars ($72 million). This project will be constructed on a 2,400 square meters area. The project will be built by the Smart Building system, aiming at attracting leading international company. It will be composed of 40 floors, each of them with a 700 square meters area. The project is expected to be ready by the first quarter of 2007.
The second project is a commercial tourist project in al-Khalij Street, which will feature a commercial complex on a 12,000 square meters area. The project will include a residential section, a commercial area and elegant offices, in addition to an international luxury hotel. The cost of this project will range between 27 and 30 million Kuwaiti Dinars ($92.4 million-$102.7 million).