Kuwaiti firms bid for Fahaheel waterfront project
Four Kuwaiti firms submitted bids for the latest construction tender of the Fahaheel waterfront development project, issued by the Kuwait City municipality. The Burhan Kuwait Trading & Contracting Company offered a low bid of 10.9 million Kuwaiti dinars ($35 million), while the Combined Group Company submitted a bid of KD 11.2 million ($36 million).
Fahaheel is managed by the Tamdeen Real Estate Company and is expected to cost aq total of $53 million to develop. The project envisions the construction of 1.6 kilometers of beachfront at Fahaheel, south of Kuwait City by 2004.
The waterfront project, named Al-Kout, is expected offer traditional activities of the area as modern shopping, dinning and leisure activities. Two piers will reach out into the Arabian Gulf to sea travelers in the region. Between the piers will lay a lagoon separated by a bridge surrounded by a series of water fountains.
The South Pier will cater to the fish, meat and vegetable markets, featuring grocery stores and coffee shops while the two-story North Pier will house retail shops, restaurants and food courts, cultural and entertainment facilities, and a cinema complex with a total capacity of 1000 seats. A marina facility will cater for over 160 private boats and yachts, offering a private clubhouse. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
- Kuwait: Tamdeen awards contract for construction of al-Manshar Rotana hotel
- Bid to promote Saudi-Kuwaiti investment in real estate
- “Global” Launches the First Waterfront Real Estate Company with a Capital of KD 50 million
- “Global” Manages the Private Placement of KD50 million for the First Waterfront Real Estate Company