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12 September, 2018

Kuwait plans housing projects worth $3.3bln

Large part of the projects located in new housing cities

Image used for illustrative purpose.
Panoramic view of Kuwait City at dusk.

Image used for illustrative purpose. Panoramic view of Kuwait City at dusk.

Getty Images/Emad Aljumah
12 September 2018
Kuwait intends to launch housing projects worth nearly one billion Kuwaiti dinars ($3.3 billion) in various areas to ensure accommodation for its growing population.

A large part of the projects are located in new housing cities in Abdullah Al-Mubarak area West of the capital Kuwait City, South Mutla in West Kuwait and Jaber Al-Ahmed City in the South, a report by Kuwait Finance House said, citing data from Public Authority for Housing Welfare (PAHW).

The report, issued on Wednesday, showed that five new housing projects in those areas have a combined value of around 417 million dinars ($1.37 billion). It said about 174 million dinars ($575 million) has also been allocated for the completion of housing projects in other areas.

PAHW projects also include nearly 52,000 houses in Khairan City, nearly 80 South of the capital, 36,000 houses Al-Sabriya City in North Kuwait and 52,000 houses in the Western Nawaf Al-Ahmed City, the report added.

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(Writing by Nadim Kawach; Editing by Anoop Menon) (anoop.menon@thomsonreuters.com)

© Thomson Reuters 2018