Home / Failaka bid teams will present plans to Kuwait government

Failaka bid teams will present plans to Kuwait government

Three mega-consortia will present their BOT design/financial proposals to the Kuwaiti government this week for the US $2.7 billion (KWD800 million) development of Failaka Island into a tourist destination.

Three mega-consortia will present their BOT design/financial proposals to the Kuwaiti government this week for the US $2.7 billion (KWD800 million) development of Failaka Island into a tourist destination.

The first consortium includes Gulf Consult, HOK Planning Group, Cambridge Seven Associates, Mouchel Parkman and Harradine Golf, with a project management joint venture of US firm Morganti and Kuwait United Construction Management. Developers and investors include Kuwait Commercial Markets Complex Company, Kuwait Finance House, represented by Kuwait Manager Company, United Projects Company and Pearls of Kuwait.

The second consortium includes SSH, RKTL, Halcrow, TG Jones and Turner PMCM. Developers and investors on the team include United Real Estate Company and Kuwait Investment Company. KCIC will carry out financial feasibility studies.

Details of the third consortium are not available. Mohammed Shawwa, business development manager, Arab Real Estate, a developer involved with the third bid, said: “We have signed an MoU with the other consortium members not to disclose any information until the project winners are announced.”

Presentations to the Kuwaiti government will take place on 19, 20, 21 June and an announcement is expected to be made within two months.

“I would be surprised if we heard anything before September,” said Jeff de Lange, deputy managing director, Gulf Consult.

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