Actual cost of construction projects in fiscal 2020/’21 hits KD 356.3m

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KUWAIT CITY, Nov 13: The Public Authority for Housing Welfare (PAHW) has revealed that the actual cost of construction projects in fiscal 2020/2021 reached KD 356.3 million — KD 354.6 million for 12 housing projects; while the public consultation contracts and other construction projects cost KD1.67 million, reports Al-Anba daily.

According to data that the daily obtained recently; the estimated contractual cost of about 13 projects reached KD2.96 billion — the largest of which is Al-Mutlaa Residential City with a cost of KD 987.8 million, followed by Sabah Al-Ahmad Residential City with KD 732.5 million and Jaber Al- Ahmad City with KD 537.7 million. The data showed that the total cost of projects implemented as of March 31, 2021 reached KD 2.79 billion with an implementation rate of 94.29 percent.

The country is keen on implementing huge housing projects to meet the growing demand for houses in new residential cities and reduce the number of pending housing grant applications. Meanwhile, Kuwait Petroleum Corporation (KPC) issued a circular on the budget for the annual travel tickets of oil sector workers for the year 2022, reports Al-Anba daily. The daily obtained a copy of the circular, stating that the cost of annual economy tickets for Kuwaitis working in the oil sector (Kuwait-Cairo-Kuwait) is estimated at KD 265,100; KD 199,100 for children and KD 36,100 for infants. Tickets for first class adult passengers cost KD 427,100; KD 423,100 for children and KD 55,100 for infants. Sources disclosed the cost of annual tickets has not been adjusted for years.

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