KUWAIT CITY, Nov 12: The Deputy Director General for Investment Affairs and Private Sector Projects at the Public Authority for Housing Welfare, Eng. Anwar Al-Hulaila, announced advancements in the implementation of investment projects, bids, and contracts by the Corporation in collaboration with the private sector and relevant government entities.

Al-Hulaila stated in a press release that the total capital costs for projects overseen by the investment sector, with contracts secured for financing by investors, reached 424 million dinars. The revenues generated during the contracted investment periods surpassed 281 million dinars.

Progress is evident in the ongoing implementation of investment projects in Jaber Al-Ahmad and Sabah Al-Ahmad residential cities, particularly in site works, infrastructure development, and road construction. Al-Hulaila highlighted the ongoing efforts to commence building construction for the S2 investment opportunity in "Sabah Al-Ahmad."

He noted that the S3 investment opportunity in the same city is undergoing licensing procedures by the municipality, featuring a traditional market and a hotel spread across 40 thousand square meters.

Regarding Jaber Al-Ahmad City, Al-Hulaila mentioned progress in site works for investment opportunities J2 and J3. The J2 project includes a commercial center with office space and exhibitions spanning 148 thousand square meters, while the J3 project comprises a commercial complex and 21 residential buildings, offering 204 apartments and adjacent villas for rent on a 217 thousand square meter plot.

Al-Hulaila also announced the completion of preparations for signing the M1 investment opportunity contract in Al-Mutlaa City and ongoing procedures for signing the K1 contract in the South Khaitan area, focused on developing a commercial complex.

Additionally, he mentioned negotiations with the winning investor for establishing private schools in Jaber Al-Ahmad and Sabah Al-Ahmad Residential Cities. The Investment Affairs and Private Sector Projects Sector is actively evaluating investment opportunities S5 and Q1, involving public parks in Sabah Al-Ahmad Residential City and a commercial complex with a health club in the Kairouan area, respectively.

The Corporation manages 47 contracts for leasing gas stations with the National Petroleum Company, covering 357 thousand square meters and yielding an annual return of up to 1.47 million dinars. Collaborative efforts with the National Petroleum Company include plans for a main gas station on Sheikh Jaber Al-Ahmad Al-Sabah Road, spanning 60,000 square meters and featuring commercial uses, restaurants, parking, rest services for trucks, and green spaces.

The Corporation has concluded seven contracts for banking branches in its projects, generating annual revenues of 291 thousand dinars. Additionally, it is in the process of finalizing usufruct contracts for three sites to establish car repair and maintenance centers in Saad Al-Abdullah City, the West Abdullah Al-Mubarak region, and Jaber Al-Ahmad Residential City, with annual revenues amounting to 441 thousand dinars. All awarded bids are exclusive to small and medium-sized project owners.