KIPCO and its partners announce details of Hessah Al Mubarak real estate development project
Kuwait City, 25 September, 2016: KIPCO – the Kuwait Projects Company – and its partners have unveiled the brand identity for the Hessah Al Mubarak real estate development. The project, with its unique location at the outskirts of Kuwait City and overlooking the Arabian Gulf Sea, is Kuwait’s first-ever comprehensive, mixed-use development. In this urban neighborhood, people can live, work, shop and spend leisure time, creating ‘‘The Center of Vibrant Living’’
In a press conference announcing details of the project, Mr Faisal Al Ayyar, KIPCO’s Vice Chairman (Executive), said that the development aims to offer quality lifestyle to Kuwaitis and expatriates a like:
“This project offers a new approach to upper-scale, integrated, urban, mixed-use developments in Kuwait. We have taken a holistic approach to design, creating a richness and sense of connectivity through architecture and landscaping. The owners have made a commitment to quality and we will be laying down all the infrastructure within the masterplan – including public facilities and open green areas – to make sure that we deliver on this promise, now and in the future.”
The project development manager is Al Mutawir Real Estate Company. The infrastructure contract has been awarded to Ahmadiah Contracting and Trading Company, and mobilization on site has begun.
The land plot measures 227,066 sqm, of which close to 50% is dedicated to public services and amenities. This includes gardens, open public spaces, urban plazas, streets, multi-story public parking and utilities. Gardens and green areas across the project have been allocated 23,400 sqm.
Speaking about details of the masterplan, Mr Tawfiq Al Jarrah, Executive Director of the development, said:
“More than 70% of the built up area of the development project is dedicated to residential units. These are strategically located within the masterplan to allow residents to benefit from public spaces and amenities. The masterplan also includes a business district stretching between two anchor nodes; the food and beverage cluster to the north, and the retail and community services cluster to the south.”
The project’s total built up area will be 381,000 sqm and includes 82 plots for residential buildings (high, medium and low-rise apartment buildings and duplexes), serviced apartments, offices, clinics, health clubs, commercial activities, retail, as well as food and beverage.
“KIPCO, through its subsidiaries, will be developing 38 plots of the masterplan. The rest of the project will be developed by parties who share our vision and strive for excellence. Our first milestone will be the completion of the infrastructure, which will take 12 months. The first phase of the project, which includes properties developed by our subsidiaries, will be completed 36 months after that. As such, Hessah Al Mubarak will be inhabited by 2020.”
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Arabian Gulf St, Kuwait City, Kuwait