Mabanee Company, Kuwait announced in a statement that it has signed Letter Agreement for Sabah Al Ahmad Project (S3). Earlier, during May 2022, the Company announces that, it was selected as preferred bidder. 

The agreement was signed with Public Authority for Housing Welfare (PAHW), Kuwait.

The Project value is KWD 26 million.

Sabah Al Ahmad Project (S3) includes Hotel, Mall with the theme of an old Kuwait Souq.

As part of the agreement, Mabanee will Design, Construct, finance, operate, maintain and transfer of investment opportunity on a total area of 40,121 square meters.

The Construction and development of the project will take three years and the time period for the operations extends to 32 years, statement mentioned.