‘Deal signed with PAHW to develop Sabah Al-Ahmad industry, logistics’ Friday Market opens to public
Project to cost KD 104 million: Minister Al-Faris
KUWAIT CITY, Sept 10: Agility recently announced that its subsidiary company for the management and development of lands and real estate has signed a partnership agreement with Public Authority for Housing Welfare to develop the industrial and logistical zone in Sabah Al-Ahmad City “S2”, reports Al-Anba daily.
The statement said the company, “S2”, according to the terms of agreement, will develop the integrated logistics and craftsmanship area in Sabah Al-Ahmad City on an area of 1.28 million square meters, in accordance with the highest environment-friendly building standards and the latest technologies in this field, with investments spanning 30 years.
In a statement, Minister of Public Works and Minister of State for Housing Affairs Dr Rana Al-Faris said the offer and contracting procedures were carried out in accordance with Law 47/1993 and investment regulations issued by Ministerial Resolution No. 32/2016 with amendments, and Partnership Law between public and private sectors no.116 of 2014 and its implementing regulations.
Project
Al-Faris added the total cost of developing the project is about 104 million dinars to be invested by the company without any financial burdens on the capital of the authority, explaining the total revenues of the authority to be generated from the project during the partnership period are estimated at 23.9 million dinars for the entire investment period of 30 years.
For his part, Chief Executive Officer of Agility, Tariq Sultan, said the signing of this agreement confirms the importance of cooperation between the public and private sectors represented by concerted efforts to develop and improve the local business environment to benefit from the global private sector expertise in providing and applying the highest quality standards in major development projects, which is to serve and support the craft and logistical sector in Kuwait. “We are pleased that our subsidiary S2 is the implementing agency for this modern integrated project, which will be fully Kuwaiti management”, he added.
The development of integrated logistics and craft zone S2 comes with the aim of strengthening the industrial and crafts sector in line with Kuwait’s 2035 goals of diversifying the sources of national income and strengthening the local industrial sector through partnership between public and private sectors.
The logistical and craft zone will include storage, industrial, craft and service facilities to serve the people of the region by providing many vital industries, including retail sector, automobile, food and other sectors. The zone will also provide all services needed by tenants, including public facilities, government services, electricity and gas stations. It also includes information technology services, support facilities, administrative
Workers at the Friday Market, which is popularly known as Souk Jumah, worked tirelessly as they prepared for the opening of the market after the corona pandemic forced its closure more than six months as the government and all the concerned authorities worked hand in hand to prevent the spread of the virus, reports AlSeyassah daily.
Reliable sources said the market was all set to open its doors for visitors Friday, from 9:00 am to 9:00 pm. The concerned authorities have stressed that the visit to the market should be orderly and all people must comply with the Ministry of Health regulations, most importantly wearing face masks and social distancing.