Kuwait-based Ahmadiah Contracting and Trading Company has won the contract for the construction and maintenance of mixed-use development Commercial District, within the Hessah Project at Hessah AlMubarak district. The contract is valued at nearly KWD 42.6 million, or USD 139 million, according to a statement.
The mixed-use development will feature residential towers and apartment hotels, offices and commercial spaces, medical clinics and health clubs, retail facilities, as well as restaurant and cafe outlets.
It has been conceptualised by Nikken Sekkei, a Japan-headquartered architecture, engineering, and planning firm, along with Kuwaiti consultancy PACE, the statement said.
The contract for the mixed-use development was awarded by MENA Homes Real Estate Company, an associate company of Kuwaiti real estate developer URC. URC the real estate wing of KIPCO, a MENA-based holding company. This is the first ever mixed-use development in Kuwait being developed by KIPCO.
“URC is proud to develop this all-inclusive and mixed-use commercial hub by 2023. The Commercial District completes the overall Hessah Project, which comprises residential and commercial components at a total investment value of KWD 250 million. The project witnessed significant demand for its residential components since the start of the development, selling 59% of units in Hessah Towers and 25% of units in Byout Hessah, and has recently received prestigious international awards,” Mazen Issam Hawwa, URC’s Vice Chairperson and Group CEO, said.
THE MIXED-USE DEVELOPMENT IS ONE LEG OF THE HESSAH PROJECT
The Commercial District will have a built-up area of 145,250 square meters. Of this, leasable and saleable area (including offices, clinics, serviced apartments, retail stores, food and beverage outlets, and an integrated community centre) comprises 46,689 square meters.
The mixed-use development is one of three components that make up the Hessah AlMubarak District, the statement said. The other two are the 40-storey-high twin luxury high-rises Hessah Towers, and the mid-rise Byout Hessah residential community.
Meanwhile, the high end Byout Hessah will feature 40 luxury four-bedroom townhouses, as well as two 12-floor residential buildings (with 104 two-bedroom units including 7 penthouses).
Other popular mixed use development projects in Kuwait include Al Andalus in Hawally district, The Marina by Gensler in Kuwait City, and Al Khiran at Sabah Al Ahmad Sea City.
Photo credit: www.constructionweekonline.com/
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