Kuwait is embarking on its plans to construct a tourist resort on Falaika Island with an estimated cost of KWD205m ($676m), reported Zawya.
This initiative is part of Kuwait’s ongoing economic diversification programme.
The project’s infrastructure will cost approximately KWD75m ($247.5m), while the remaining amount will cover capital expenses, reported Arabic daily Alqabas.
According to a recent study by Kuwait’s Touristic Enterprises Company, which has been reviewed by the cabinet, the project should be offered to investors on a three-decade lease basis, with the private sector expected to contribute around KWD130m ($429m) in funding.
The project will consist of various components, including a 250-room family resort, a 180-room luxury hotel, 150 chalets, rental spaces covering 5,000m2, a multi-purpose hall, sports facilities, retail outlets, recreation centres, a marina, and a public beach.
Last year in September, American hospitality company Hyatt Hotels opened Grand Hyatt Kuwait, its first Grand Hyatt hotel in the country.
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Situated at 360 Mall, the property boasts of 302 guestrooms and suites, including 192 Grand Rooms, 47 Grand Club Rooms, 34 Grand Club Suites, 23 guestrooms and suites and eight Junior Suites.
In August 2022, Waldorf Astoria Hotels & Resorts, a brand of Hilton Worldwide, debuted in Kuwait with the opening of Waldorf Astoria Kuwait.
The hotel is located alongside The Avenues, a retail, entertainment, and luxury lifestyle destination.
It is 11km away from Kuwait International Airport.