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

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