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Monday , November 28 2022

Ministry of Finance approves acquisition of Jleeb Al-Shuyoukh for development

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KUWAIT CITY, Sept 26: The State Property Department of the Ministry of Finance, has approved the Kuwait Municipality proposal to resell the plots of land in the Jleeb Al-Shuyoukh area by public auction after developing these plots for private housing, investment and commercial activities, reports Al-Qabas daily. The Director of the Ministries Complex Department and the Assistant Undersecretary for Public Services Affairs, State Property Affairs and Legal Assignment Abdul Nasser Al Abdullah said in a letter to the Municipality that the letter of the General Secretariat of the Council of Ministers on August 25, which includes a request to study the options presented regarding the decision of the Council of Ministers in its meeting held on August 22, 2022 concerning the proposal for the development of the northwest site of Jleeb Al-Shuyoukh area, the resolution stipulates the following:

First: The Council was informed of the memorandum submitted by the Kuwait Municipality regarding the proposal for the development of the northwestern site of the Jleeb Al- Shuyoukh area, and the visual presentation of the project to develop the northwest site overlooking the New Shaddiyah University off Jleeb Al-Shuyoukh.

Second: Assigning the Kuwait Municipality, in coordination with the Ministry of Interior, the Ministry of Finance, the Ministry of Public Works, the Ministry of Electricity and Water, and the relevant authorities, to complete the necessary studies and develop a common vision that ensures the treatment of all existing conditions in the Jleeb Al-Shuyoukh area, and tightening security control and regulation in all respects, infrastructure development, and submitting a report to the Council of Ministers within two weeks from its date.

Al-Abdullah added that the results of the study led to a re-planning of the area to be a distinguished upscale neighborhood, where several options were put forward to reinvest in the area as follows:

■ Involving the private sector as a real estate developer differently from the usual areas, so that the area is divided into five plots close in number of plots, with the number of plots ranging between 306 and 385 plots with new housing styles, in addition to 30 plots of mixed use (commercial, offices, residential) overlooking the southern road, in addition to 8 commercial plots northwest of the site, for use as malls and commercial markets, provided that these companies demolish and remove existing buildings and implement new advanced infrastructure and establish new housing within them, as the rehabilitation of infrastructure will cost the state approximately 150 million Kuwaiti dinars.

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