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Major development projects planned in Failaka Island
Huge construction projects that are capable of changing the outlook of economy and tourism sectors, are likely to be established shortly, on a 43-kilometer land in Failaka Island.
The entire idea is to transform the island into a major tourist attraction. The final and detailed designs are being planned by three consortium companies, the details of which, have been sent to H.H. the Amir Sheikh Sabah Al-Ahmad Al-Sabah in 2006.
The first consortium includes Agility, Kuwait Investment, United Real Estate and the Kuwait Real Estate Shareholding. The second includes United Projects and Markets Complexes, Lulua Real Estate, and Kuwait Finance House, while the third includes Arab Contractors Company, Warba Insurance Company, Sharqiya Construction Company, and International Bank of Kuwait.
This huge development project to be completed in seven years, under the Build, Operate and Transfer (BOT) system, is worth KD1.5bn. The proposed Ikarus Resort, conceived by the Arab Real Estate Company and Al-Sharqiya Construction Company, is a major project that attracts visitors, transforming the country into an international and regional tourism hub.
Designs and structural plans of these projects took five years for completion, after which, an approval has been obtained from the Kuwait Municipality. The comprehensive maps indicate inclusion of chalets, hotels, commercial complexes, hospitals, golf courses and other natural and required structures that make up a complete city.
The projects also include a plan for the island to have about 1200 chalets and restaurants, covering the entire coastal region, with five star hotels, where visitors will not be permitted to drive their cars, as there will be special arrangements for unique transportation system.
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