In a step that strengthens fruitful cooperation between the public and private sectors and supports the path of urban and economic development in Kuwait, ALSalmiya Group for Enterprise Development, a subsidiary of Commercial Real Estate Company, announced the signing of an investment agreement with the Public Authority for Housing Welfare.

The project involves the development of a commercial complex, a health club, and public parking spaces to serve the project in the Qairawan Q1 area, under a design, development, financing, operation, management, and maintenance model, for a duration of 22 years.

The project includes the development of two structurally separate buildings on total land area of 12,580 square meters. The commercial complex will occupy 4,920 square meters, while the health club will cover 2,000 square meters. The buildings will be separated by a site designated for public parking, covering 5,660 square meters, serving both project visitors and the local community.

The goal of the project is to provide a modern, integrated destination that meets the expectations of residents in the Qairawan area and surrounding neighborhoods, offering commercial, sports, and entertainment services within an urban environment designed to the highest standards.

A Vital Project

Adwan Al-Adwani, Chairman of Salmiya Group for Project Development, stated:

"We at Salmiya Group, a subsidiary of Commercial Real Estate Company, are pleased to be the developer of this vital project, which represents a qualitative addition to the urban and service landscape in Kuwait. We are committed to executing an integrated project with high standards of design, implementation, and management, reflecting our dedication to supporting comprehensive community development."

He added "We believe in the pivotal role of such projects in stimulating the national economy by creating job opportunities, boosting the local investment environment, and enhancing infrastructure in new residential areas, in line with Kuwait Vision 2040, which aims for integrated and sustainable urban and economic development."

For his part, Engineer Abdul Latif Hamed Al-Meshari, Minister of State for Municipal Affairs and Minister of State for Housing Affairs, said on the sidelines of the signing ceremony "The goal of the project is the Authority's effort to expand the private sector's involvement in developing service projects."

Al-Meshari emphasized the Authority's commitment to strengthening partnerships with the private sector to achieve sustainable urban development, in line with the state's direction in this regard. He noted that this contributes to diversifying the Authority’s revenue sources.

Engineer Anwar Al-Hlailah, Acting Deputy Director General for Investment Affairs and Private Sector Projects, explained that the project consists of three main components: a commercial complex, a health club, and parking facilities.

Al-Adwani concluded his statement by thanking the Public Authority for Housing Welfare for its trust and support, expressing Salmiya Group’s eagerness to implement the project according to a well-planned timeline, making it a prominent urban landmark and a source of shared pride and success for all parties involved.