Kuwait National Cinema seals $131mln deal to build entertainment complex

The new complex is situated at South Sabahiya

Image used for illustrative purpose. Kuwait City skyline view

Image used for illustrative purpose. Kuwait City skyline view

Getty Images/ Saleh AlRashaid

Mubasher: Kuwait National Cinema concluded a contracting deal of KWD 39.8 million with First United Co. for the construction of the first phase of a commercial, entertainment, and cultural complex in Kuwait.

The new complex, situated at South Sabahiya, will be spread across a total area of 79,640 square metres, according to a statement to the Kuwaiti bourse on Monday.

Kuwait National Cinema also referred that it will provide further details in this regard during the project execution phases.

As for the material impact, the transaction will contribute to higher fixed assets (projects under implementation) as well as an increase in the company's liabilities during the project implementation period.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Construction