A Kuwaiti company said on Thursday it has signed a contract with the country’s top housing authority to build and manage a shopping mall with a value of around 4 million Kuwaiti dinars ($13.2 million)

Injazat Real Estate Development Company said it was awarded the project to fund and construct the mall in Khaitan district in the capital Kuwait City in September.

In bourse disclosure statement, the firm said it has just signed a lease contract with the Public Authority for Housing Welfare for a project site with a value of around KWD7.2 million ($23.7 million).

The leased land has an area of 3,484 sqm and the contract on a public-private partnership basis has a duration period of 22 years, it said.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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