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Hessah Al Mubarak Real Estate Project (Daiya)
| Owner | United Real Estate (URE) |
Estimated Value | US$ 5,000,000,000 |
| Sector |
Infrastructure |
Sub Sector |
Mixed-Use Development |
| Country |
Kuwait |
City |
Daiya |
| Capacity | 380,000 sq m, 85 residential buildings | Feasibility Start Date | Q3-2016 |
| Status | Construction | Project End Date | Q2-2024 |
| Owner | United Real Estate (URE) |
| Estimated Value | US$ 5,000,000,000 |
| Sector |
Infrastructure |
| Sub Sector |
Mixed-Use Development |
| City |
Daiya |
| Country |
Kuwait |
| Capacity | 380,000 sq m, 85 residential buildings |
| Feasibility Start Date | Q3-2016 |
| Status | Construction |
| Project End Date | Q2-2024 |
Project Overview
Background
United Real Estate (URE) is planning to construct one of the largest and most important real estate project in al-Daiya area, where several foreign embassies are located. The project will include both residential and commercial units, as well as infrastructure such as roads, pavements, gardens, lanscaping, street lights and walkways.
The development area consists of approximately 380,000 sq m, out of which 50% will be dedicated to public services, while the remaining 50% will be residential properties, which includes high, mid and low rise buildings.
Scope of Work
Scope of the scheme will comprise of 85 residential properties which includes:
- 15 high rise
- 35 mid rise
- 15 low rise
- 20 serviced apartments
- 3 clinics
- Health clubs
- Hospital clinincs
- Parking lots
Commercial properties will include:
- Approximately 10 office buildings
- Retail outlets
- Food courts and restaurants
Infrastructure works such as:
- Roads
- Pavements
- Gardens
- Lanscaping
- Street lights
- Walkways
- Public Utilities
Finance
United Real Estate (URE), a subsidiary of KIPCO, is the client that will be responsible for financing the project.
Hessah
Al Mubarak Real Estate Project
Related Companies
Owner
|
United Real Estate (URE) Al Shaheed Tower, Khalid Bin Al-Waleed St, Sharq Safat 13023, Kuwait Tel: +965 180 5225 Web: www.urc.com.kw |
PMC
Pre Qualified
|
Al Mutawir Real Estate Development Company Safat 13020, Kuwait Tel: +965 531 2838 Email: [email protected] Web: www.almutawir.com |
Short Listed
|
Al Mutawir Real Estate Development Company |
EPC
Pre Qualified
|
Al Ahmadiah Contracting & Trading Company JAl Diyafah Street, Al afiliya Area, Dubai, UAE Tel: +971 4398 1999 Email: [email protected] Web: www.alahmadiah.ae |
Short Listed
|
Al Ahmadiah Contracting & Trading Company |
Updates
| Jul 2017 | Infrastructure works are still in progress. It is expected to be completed in September 2017. Moreover, phase 1 of the residential properties package is expected to be completed in three years' time. |
| Dec 2016 | Al Ahmadiah Contracting & Trading Company has been awarded the infrastructure works package. |
| Nov 2016 | Al Mutawir Real Estate Development Company has been appointed as the project management consultants (PMC) on the scheme. |
| Sep 2016 | The client has revealed plans to present its study to regulators this month. |
| Jul 2016 | The project is currently under feasibility stage. Tenders for the engineering, procurement and construction (EPC) contract are likely to be issued in 2017. |