Govt document ‘sheds light’ on vision for development of Failaka Island

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Project provides valuable addition to country’s tourist attractions

KUWAIT CITY, Aug 18: A government document sheds light on a comprehensive vision for the development of the Failaka Island complete with a touristic park, reports Al- Qabas daily. The project represents a unique opportunity to establish a development, tourism and investment project with international standards and within the existing laws and procedures at no cost to the state, and provides a valuable addition to the country’s tourist attractions.

The document, a copy of which is obtained by the daily, states that the Failaka Island Resort development project will revive the tourism sector in the country, provide job and contracting opportunities for Kuwaiti companies of different sizes and in different sectors, attracts Gulf and non-Gulf tourists and confirms government’s seriousness in developing the island and attracting reluctant investors. The daily added there are several advantages such as encouraging the tourism sector in Kuwait, and moving the economic wheel on Failaka Island at the lowest cost to the state budget; government participation by providing tourist lands at a cost that encourages the private sector; participation of the private sector to attract the best models of tourist parks through construction, development and operation; increasing the supply of land allocated for recreation, which will lead to a decrease in fixed operating costs; enhancing the demand and raising the value of projects and related services directly and indirectly, in preparation for the implementation of the comprehensive development project for Failaka Island entrusted to the Minister of Municipality and enabling the private sector to attract talent and develop unique and innovative projects with economic, social and environmental returns.

General perception
The general perception of the project shows during the process of redeveloping and operating the park, a commitment is made to preserve the unique cultural, social and environmental heritage of the island, in line with the comprehensive vision of Failaka Island; the Failaka Tourist Park site divided into 2-4 parks as needed, and that each park has a special character, to serve various segments of clients (tourist park, family park, heritage park), sanatoriums for physiotherapy or convalescence and recuperation and the development of public facilities and services for all parks in an integrated manner to serve the project as a whole, provided that collective and alternative internal transportation are provided to ensure a comfortable and attractive environment for citizens.

The time period for starting the project is believed to be from 6 to 9 months and will included setting the project’s needs, specifications and conditions for the investor; establishing a selection mechanism from technical, economic, financial, and service specifications, and the project idea; announcing the investor submission period of 3 months; a committee that studies the submitted projects and selects the most appropriate; a lease contract will be concluded between state property and the investor for a period of 20 years. According to the proposed model for the development and operation of the project is lease for 20 years using the differentiation mechanism including the project is offered for rent for a period of 20 years in accordance with Article 17 of the State Property Law. Which stipulates that it is permissible to lease the state’s private real estate or movable property at a nominal fee or less than the same wage to a legal or natural person with the intention of achieving a purpose of public benefit, and the lease is based on the proposal of the Minister or the head of the competent authority or institution and the approval of the Council of Ministers; the desire of the Ministry of Finance to offer the project for exploitation and to attract offers from qualified and licensed private sector companies is announced and terms terms and conditions for submission are set to serve the overall perception of the island from the Ministry of Municipality and in line with the highest international standards.

This news has been read 14254 times!