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Wednesday , September 18 2019

MoFA owns real estate worth KD 630 mln inside and outside Kuwait, says minister

KUWAIT CITY, Feb 17: Deputy Prime Minister and Minister of Foreign Affairs Sheikh Sabah Al-Khalid Al-Hamad Al-Sabah, in response to a parliamentary question submitted by MP Thamer Al-Suwait, revealed that the value of the real estate owned by Ministry of Foreign Affairs is a total of KD 630 million, reports Al-Qabas daily.

He explained that this includes overseas real estate worth KD 574 million and buildings within Kuwait worth KD 56 million. The annual rent of the building owned by the ministry is close to KD 18 million. Properties worth $269 million are in Europe and the United States of America, $139 million in Asia and Africa, and $108 million in the Arab world.

There are also the four buildings worth KD 55 million owned by the state and occupied by the ministry in Sharq, Shuwaikh and Salmiya, and the diplomatic institute. Meanwhile, Sheikh Sabah Al- Khalid indicated that the ministry is preparing the budget estimates which depend mostly on actual contracts.

He disclosed that the budget proposed for 2017/2018 fiscal year was KD 16 million and 55 thousand, and the budget earmarked by Ministry of Finance was KD 14 million.

The minister affirmed that the budget allocated for the project for automating and linking the accounts of overseas diplomatic missions was KD 659,000 thousand, based on a study conducted on the estimates of prices expected for this project, adding that the relevant tender was won by a company for an offer of KD 276,000.

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