Beyout Holding Company said the Kuwait Authority for Partnership Projects (KAPP) has accepted the technical proposal submitted by one of its subsidiaries to develop and manage the Al-Muthanna Complex in Kuwait City.

Real Estate House is the lead member of the consortium that has submitted the bid, the company said in a statement to Boursa Kuwait on Wednesday.

The names of the other consortium members were not given.

In August 2025, KAPP and the Ministry of Finance extended the bid submission deadline for Al Muthanna Complex from 28 September 2025 to 28 October 2025.

The complex is located in Block 12 of the Qibla area on state-owned Plots No. 16 and 17, totalling 17,183 square metres. The scope includes rehabilitation, renovation, development, major and routine maintenance, management, and operation under a 15-year usufruct arrangement.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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