KUWAIT: The Public Authority for Housing Welfare (PAHW) signed on Wednesday the investment opportunity contract (Q1) for the development of a commercial complex and a health club in the Al-Qairawan area, covering an area of approximately 12,500 square meters. The signing ceremony was attended by Minister of State for Municipal Affairs and Minister of State for Housing Affairs Abdullatif Al-Meshari, alongside senior officials from PAHW.
Minister Al-Meshari stated in a press release following the signing that the project reflects PAHW’s strategic efforts to boost private sector participation in developing service projects. He emphasized the authority’s keenness to strengthen partnerships with the private sector to achieve sustainable urban development in line with the state’s directives, while diversifying PAHW’s revenue sources.
Acting Deputy Director General for Investment Affairs and Private Sector Projects at PAHW, Anwar Al-Hulaila, said the project comprises three key components: a commercial complex, a health club, and parking facilities. He added that the commercial complex will cover approximately 4,900 square meters, the health club about 2,000 square meters, and parking spaces will occupy 5,600 square meters distributed between the two sites.
Al-Hulaila noted that the project’s expected revenues are estimated at around KD 12.3 million (approximately $40.5 million) over a 20-year investment period. He reaffirmed PAHW’s commitment to providing high-quality services that meet citizens’ aspirations and improve the quality of life within residential communities. — KUNA