THE REDEVELOPMENT OF SOUQ MUBARAKIYA WILL COST 6 MILLION

  • 28/04/2022

Kuwait City: Abdulwahab Al-Rasheed, Minister of Finance and Minister of State for Economic and Investment Affairs, announced on Tuesday that the government has approved the funding of South Saad Al-Abdullah Town and the rehabilitation of Souq Al-Mubarakiya for the fiscal years 2022-2023. The housing project in South Saad Al-Abdullah costs KD 2.1 billion (approximately USD 6.8 billion), which will be phased in over the following state budgets according to the project's building stages. 


It is listed in the draft bill linking the budgets of the state departments for FY 2022-2023, he told reporters, noting that bill still awaits endorsement from the National Assembly. “The housing question is a top priority for the government, which does its utmost to provide adequate funding for the Public Authority for Housing Welfare (PAHW) to meet its obligations towards the people of Kuwait,” the minister pointed out.

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