UAE’s Hydra Properties Real Estate Company has set up a joint venture to develop a mega real estate project in Kuwait's resort city of Khairan.

Hydra’s partners include Kuwait-based Al-Aqeelah Leasing, Finance and Investment Co, and Tassameem Real Estate Co.

The Hydra-Al-Aqeelah Development Company will develop the Aqeeq Al-Marina project, one of the largest real estate projects in the entire region.

Riyadh Al-Ali, vice president of Al-Aqeelah, and chief executive officer of Hydra Properties, Dr  Sulaiman Al Fahim, jointly stressed during a press conference that the new partnership was a turning point in Kuwait’s real estate sector.
 
“This project embodies a combination between the ultimate in luxury and the ultimate in aesthetic design, based on international specifications,” said Dr Al-Fahim.

Since day one of the company's establishment, Al-Ali pointed out, officials have taken full responsibility for developing the project through its subsidiary company, Al-Aqeelah International Real Estate Co., which was assigned as one of the major firms in charge of the project.
 
“The Aqeeq Al-Marina project consists of a major commercial complex, a residential compound and one of the most luxurious hotels in the region and in the world. We certainly hope that this project will eventually become a model that symbolises a modern and luxurious lifestyle, as well as one of the most important touristic and commercial attractions in the Gulf region. The project’s size is approximately 50,000 sq m, as the first phase of Khairan's Pearl City project,” concluded Al-Ali. – TradeArabia News Service