Kuwait City: KIPCO – the Kuwait Projects Company (Holding) – announced the official handover of the Hessah Al Mubarak District infrastructure works to relevant government entities. As such, Kuwait Municipality has now allowed developers to apply for construction permits for all residential and commercial land plots in the district.
Mr Faisal Al Ayyar, KIPCO’s Vice Chairman (Executive), said:
“Early this year, we announced the completion of the district’s infrastructure work, an important milestone given that KIPCO is the first company to lay down the infrastructure of a private real estate development. We would like to extend our appreciation for the support and cooperation we have received from the different government entities with which we have worked to make this landmark project a reality.”
On his part, Mr Tawfiq Al Jarrah, Executive Director - Hessah Al Mubarak District, said:
“We are delighted to announced that real estate developers and landowners are now able to apply for construction permits with Kuwait Municipality, and we expect construction work to begin soon. We would like to take this opportunity to thank all the government entities – especially Kuwait Municipality, the Ministry of Public Works, the Ministry of Electricity and Water and the Ministry of Communication – for their cooperation. We would also like to extend our appreciation to all the consultant and architectural firms and contractors that contributed to this important phase of Hessah Al Mubarak District.”
The handover to the Ministry of Social Works included the road network inside and surrounding the district, as well as the rainwater and sewage networks. KIPCO also handed over the fresh water and firefighting grids to the Ministry of Electricity and Water, alongside civil engineering work for five secondary transformer stations and low voltage networks. Telephone and internet networks laid underground were handed over to the Ministry of Communication.
The KIPCO Group is one of the biggest holding companies in the Middle East and North Africa, with consolidated assets of US$ 32.7 billion as at 31 March 2018. The Group has significant ownership interests in over 60 companies operating across 24 countries. The group’s main business sectors are financial services, media, real estate and manufacturing. Through its core companies, subsidiaries and affiliates, KIPCO also has interests in the education and medical sectors.
Eman Al Awadhi Group Communications Director
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© Press Release 2018