Wafra Real Estate Co to manage, maintain and operate Souq Sharq; KD 1.450 mln annual rent

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KUWAIT CITY, May 22: The Central Agency for Tenders approved the request of the Ministry of Finance to contract directly with Wafra Real Estate Company to manage, maintain and operate Souq Sharq at an annual rent of 1.450 million dinars, reports Al-Qabas daily. Relevant sources indicated that the development of the state’s real estate properties receives great government attention in order to achieve the maximum possible benefit from it, to be an essential tributary of revenues in the general budget, and push it towards the second place after oil revenues.

The Ministry of Finance has confirmed work to prepare the way for offering a number of projects in a competitive public bid by the Authority for Partnership Projects between the public and private sectors, according to Law No. 116 of 2014 soon, in confirmation of the principle of equal opportunities and allowing qualified companies to contribute and develop in raising the quality The state’s commercial real estate facilities and enhancing the return on the state’s real estate.

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