Kuwait City tower blocks set for Jan completion

TOWER PROJECT: Kuwait Business Town. (Supplied)

Construction work on four tower blocks worth KD30m in the heart of Kuwait City are set to be completed in January 2010, the developer said in a statement on Sunday.

Kuwait Business Town is now 80 percent complete and will be available to lease in the next few weeks, Al Mazaya Holding said.

The developer, which is listed on the Kuwait Stock Exchange and Dubai Financial Market, said it has signed a contract with an interior design firm and is preparing a floor to show potential investors.

“Kuwait Business Town has many characteristics that put it amongst the most important projects for Al Mazaya, Kuwait and the office and commercial property sector,” said Khalid Esbaitah, Al Mazaya managing director and CEO.

Esbaitah said Al Mazaya will retain ownership of two of the towers and aims to create a profit on leasing the units and offices by the third-quarter of 2010.

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