Kuwait Real Estate News
Al Mazaya signs deal to implement 7 zones project
Al Mazaya Holding, a leading real estate firm in the Middle East has entered into an elector-mechanical contract worth KD 1.9995 million with the Al Mulla Group for supply, installation and maintenance of Electro Mechanical parts and equipment in its 7 zones project located in the Shuwaikh Industrial Area, covering 22 thousand square meters of area. 7 Zones is expected to be an all-in-one construction materials city in the Shuwaikh Industrial Area and will include integrated zones representing electrical appliances, flooring supplies, hardware, glasses, furniture, constructional materials, paints and warehouses.
7 zones will be ideal for heavyweight industrial firms, exporters and importers. It will operate on a lease system and is scheduled for completion by 2008. The project is designed to develop into a shopping mall which will also include enough entertainment facilities making it a favourable family destination. It will comprise a basement with full plot space, ground floor, and mezzanine. The phase one contract which includes a concrete structure has been awarded to Sadeem Al Kuwait. Proposals have been invited from local and international companies to implement the smart building system and apply the latest technologies in the project with amenities such as the parking, commercial outlets and offices and main entrances. The Assistant Project Manager at Al Mazaya, Abdullah al Subaih said "Such a project will offer Kuwaiti consumers more flexibility and freedom in their choice of construction materials, and to develop certain materials manually, if required, according to the European Cash and Carry Scheme."
Al Mazaya aims to reach global standards through its "7 zones" project. Al Mazaya has registered this trade mark as an exclusive brand for the company. It plans to establish a "7 zones company" with a capital of KD 10 million. Al Mazaya is currently acquiring plots of land in other countries for this implementation. Recently Al Mazaya has purchased a plot in Bahrain for carrying on another "7 zones" project and plans to invest in lands in Dubai, Abu Dhabi, and Jordan for implementing this concept.
Social Bookmarking
Read more news
> Property markets in GCC region to remain pressurized in 2012
> Kuwait property sector gathers pace following summer slowdown
> Kuwait realty sector post profits
> Kuwait records decline in expat count
> KAMCO report reveals positive indicators for Kuwait realty sector
> Majority of Kuwaitis investing in Dubai properties
> Latest Kuwait property sales report indicates improvement in the sector
> Increased demand for properties in Kuwait realty sector
> Property experts seek private sector support to develop housing sector
> KFH launches promotional campaign to finance residential real estate