A consortium led by top Kuwaiti group National Investments Company - with key partners Al Arkan Kuwait Real Estate Company, Buyout Holding Company, Osoul Investment Company and Real Estate House Company - has secured the contract for the operation and maintenance of the Al Muthanna Complex.
The contract was awarded by Kuwait's Public-Private Partnership Authority to the consortium after it achieved the highest financial and technical bid in the tender.
The scope of work includes rehabilitation, renovation, development, major and routine maintenance, management, and operation under a 15-year usufruct arrangement, said National Investments Company in a statement.
On completion, the project will transform the area into a vibrant cultural, commercial, and tourist destination, combining heritage, modernity, and interactive experiences.
The development will provide a comprehensive experience combining shopping, dining, entertainment, culture, interactive spaces, and innovative art installations.
The complex is located in Block 12 of the Qibla area on state-owned Plots No. 16 and 17, totalling 17,183 sq m, it added.-TradeArabia News Service
