This post has been read 12629 times!
KUWAIT CITY, Nov 23: The State of Kuwait is seeking to attract regional and foreign capital to invest in its economic development projects through its Vision 2035. Part of the vision is the development of Sheikh Jaber Al-Ahmad Al-Sabah Causeway’s southern and northern banks and two artificial Islands, which will be transformed to hubs of commerce, work, leisure activities, and tourism. Development of the southern bank of the causeway, Shuwaikh area, will be at an area 635,913 square meters with a construction capacity of 30 percent of the allocated region.
The commercial activities will cover 12 percent with the ability to build eight-story buildings, housing offices, cafes, and restaurants. The southern Island project of the causeway, at an area of 282,355 square meters, would have 20 percent used for four-story buildings and 10 percent for commercial purposes. The northern Island project, at 283,358 square meters, will utilize 20 percent of its total area, while the northern bank of the causeway in Subiya area, covering 565,504 square meters utilizing 30 percent of space. The public and private sectors will be welcomed to invest in the development project. Speaking to KUNA, member of the Municipal Council Dr. Hassen Kamal told KUNA that Kuwait was eyeing ventures providing more leisure and commercial services to citizens and residents alike.
The Jaber Al-Ahmad Causeway is operational and now is the time to invest more in the project to revitalize the economy and encourage business and commerce, he said. The development of the two Islands in addition to the southern and northern banks of the causeway was presented to the Municipal Council and Cabinet’s Secretariat for approval. He affirmed that the municipality was in favor of all lucrative government projects, noting that a special session was held last August to discuss the nitty-gritty of the venture , (KUNA)