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Kuwait Authority for Partnership Projects (KAPP) announced on Monday that the Higher Committee for Public-Private Partnership projects has approved a consortium led by local company Real Estate House as the winning investor for the Al Muthanna Complex Real Estate Project.
Other members of the consortium include National Investments Company, Arkan Kuwait Real Estate Company, Beyout Holding Company and Osoul Investment Company.
The scope includes rehabilitation, renovation, development, major and routine maintenance, management, and operation under a 15-year usufruct arrangement, in accordance with Law No. 116 of 2014 governing PPPs and its Executive Regulations.
A January 2026 report by local news website Arab Times pegged the cost of the project at 77.6 million Kuwaiti dinars ($252 million).
The Invitation to Bid (ITB) for the project, located in Block 12 of the Qibla area, on state-owned Plots No. 16 and 17, totaling 17,183 square metres (sqm) was issued on 1 July 2025.
The bid submission deadline was extended from 28 September 2025 to 28 October 2025.
KAPP has also completed the technical evaluation and approved the results of the bids submitted by the seven bidders competing for the Waterfront Real Estate Project - Phase 3, located in the Sharq Area of capital Kuwait City, which was tendered at the same time as the Al Muthanna Complex.
(Writing by Deva Palanisamy; Editing by Anoop Menon)
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