Ministry of Finance approves proposal of Jleeb Al-Shuyoukh development

Tuesday, September 27, 2022

Ministry of Finance approved the Kuwait Municipality proposal to resell the plots of land in the Jleeb Al-Shuyoukh area by public auction after developing these plots for private housing, investment and commercial activities.

According to Al-Qabas daily report, a memorandum was submitted by the Kuwait Municipality regarding the proposal for the development of the northwestern site of the Jleeb AlShuyoukh area overlooking the New Shaddiyah University off Jleeb Al-Shuyoukh.

The re-developing of this area involve the private sector as a real estate developer differently from the usual areas, so that the area is divided into five plots with new housing styles, and other plots of mixed use (commercial, offices, residential) overlooking the southern road, commercial plots for malls and commercial markets, etc. The companies also will demolish and remove existing buildings and implement new advanced infrastructure and establish new housing within them. The rehabilitation of infrastructure will cost the state approximately 150 million Kuwaiti dinars, report said.

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