Kuwaiti firm signs joint venture to develop entertainment park in Iraq
The Kuwait Commercial Markets Complex Company (KCMCC) and the Iraq Holding Company (IHC) signed an agreement with the Governor of Basra, Wael Abdullatif, for the development of an entertainment park.
IHC and KCMCC will lease the existing Basra Play Park and Andalus Park for developing a modern entertainment city.
IHC is a Kuwaiti shareholding company with a capital of $200 million. The company plans to join hands with Iraqi partners and technical partners to invest in various sectors such as entertainment, service companies, agencies, and light industries, among others.
KCMCC is a listed company on the Kuwait Stock Exchange and is considered one of the few companies that excel in the BOT projects, especially in constructing and managing commercial malls and entertainment parks in addition to providing food services such as restaurants and coffee shops. — (menareport.com)
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