Sunday, Jul 15, 2012
(This story was originally published Thursday.)
BEIRUT (Zawya Dow Jones)--Kuwait's Commercial Real Estate Co. (ALTIJARIA.KW), or Al Tijaria, said Thursday the combined cost of two local restaurant complex projects it plans to put out to tender will likely reach 16.78 million Kuwaiti dinars ($59.53 million).
The combined revenue from the two projects is estimated at KWD2 million a year, the property developer said in a statement posted on the Kuwait bourse website. The two projects are expected to be completed by the end of 2013.
One of the planned two restaurant complexes, named Light-Al Mahboula, will include local and international restaurants and will be constructed on a 5,500-square-meter plot of land in Al Mahboula region. The other complex, named Dine Zone-Al Aqeelah, will comprise a mix of restaurants and will be built on a 17,400-square-meter plot of land on Al Aqeelah beach, according to the statement.
-By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
15-07-12 0343GMT
