A consortium of South Korean construction companies will commence work on an eco-friendly residential city in Kuwait in 2019.Referencing a statement released by South Korea’s Ministry of Land, Infrastructure, and Transport, Yonhap News Agency reported that POSCO A&C and Hyundai Architects and Engineers Associates Co are heading the builders’ consortium for Kuwait's Saad Al-Abdullah City.
According to the ministry, it is strongly pushing for what it described as the “first export of the smart city project”. The ministry noted that the project in Kuwait has the potential of opening up similar opportunities in other parts of the Middle East.
The ministry added that it will help finalize the consortium in 2018, as well as establish a special-purpose company in 2019 to push forward the $4bn (KWD1.22bn) project, which is expected to accommodate 25,000 to 40,000 households.
On Sunday, Yasser Abul, Kuwait’s Minister of State for Housing Affairs and Minister of State for Services, signed a $41m (KWD12.5m) contract with representatives from Korea Land and Housing Corporation for the design and planning of Saad Al-Abdullah City.
No.of Reads (256)