Development of Sulaibikhat Bay through public & private sectors
This news has been read 7890 times!
Project seeks to preserve historical identity of Kuwait
KUWAIT CITY, Aug 20: The “Waterfront Development of the Sulaibikhat Coast” project will be marketed locally and internationally in cooperation between the public and private sectors to ensure the creation of a competitive investment environment and achieving financial returns, reports Al-Qabas daily.
A government document, seen by the daily, revealed the project will be implemented in accordance with the set standards to preserve the historical identity of the State of Kuwait and contribute to creating a sustainable urban environment in line with the intersectional, economic, cultural and recreational aspects. During the coming period, intensive meetings will take place between the municipality and the Ministry of Finance, the Direct Investment Promotion Authority, the Environment Public Authority, and the Public-Private Partnership Projects Authority in order to take the necessary decisions to implement the project.
Implementation
The government document indicated that the decision for the private sector’s participation in the implementation of the project was taken in accordance with the appropriate vision that enables the government to cover the financial needs required to complete the project in light of the current economic conditions, pointing out that the private sector’s participation in this regard enhances its contribution to the developmental role of the State of Kuwait.
It was agreed to assign the Kuwait Municipality to complete its efforts to implement the project to develop the master plan for the Sulaibikhat Bay through the private sector and to submit a periodic report every two weeks to the Council of Ministers on the developments taking place in this regard, including the necessary timetable for the executive plan for the stages of completion of the project, in compliance with the decisions issued from the Cabinet on this matter.
The sources said that the project to develop the structural plan of Sulaibikhat Bay is to develop the waterfront and the area overlooking the Sulaibikhat coast from Kuwait Bay and to provide the necessary services to the western and northern regions of the country, perhaps the most important of which is the rehabilitation of the environment and work to preserve and develop them. It also aims to increase the number of commercial projects and service, recreational and service areas on the coastal strip, and the involvement of the private sector in these projects, and a group of six areas has been identified, as follows — Innovation Zone, Sulaibikhat coast area, Sulaibikhat Sports Area, Ras Ashiraj area, Ashiraj residential area and Ashiraj Islands.
This news has been read 7890 times!
