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South Al Mutlaa City to house 400,000 residents on completion
Kuwait will shortly sign a $1billion contract with Italys Salini Impregilo and Turkeys Limak Construction for its planned South Al Mutlaa City project. The development, located in Central Kuwait, is expected to house about 400,000 residents on completion, which is currently in its first phase, spanning 100,000 square kilometres.
Kuwait, despite being one of the world’s richest countries per capita, suffers considerable shortage of government-funded housing, which particularly impacts young people, who find themselves on wait-list for years.
The South Al Mutlaa City involves construction of a road and other infrastructure, which would be funded by Kuwait government from its own reserves.
The Director of Planning at the country’s Public Authority for Housing Welfare, Naser Khraibut, speaking to reporters in Dubai said that cost of building infrastructure and public buildings in the city is estimated to be around $20bn.
Kuwait will also sign a contract worth $80million to $90million with Hill International to manage the building of the whole city, Khraibut said.
Meanwhile, the State is also designing and in the process of completing an economic study for the planned South Saad Abdullah City, spanning 60 square kilometres.
The cost of $10bn to $15bn of the project would be financed through a special purpose vehicle jointly established by the Kuwaiti and South Korean governments, Khraibut said.
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