Government Of Kuwait Sets Aside Kd 2.1 Billion For South Saad Al-abdullah

Abdulwahab Al-Rasheed, Minister of Finance and Minister of State for Economic and Investment Affairs said on Tuesday that the government has approved the funding of South Saad Al-Abdullah Town and the restoration of Souq Al-Mubarakiya for the fiscal years 2022-2023.

The housing project in South Saad Al-Abdullah costs KD 2.1 billion (approximately USD 6.8 billion), which will be phased in over the following state budgets according to the project's building stages.

It's in the draught bill combining the state departments' budgets for FY 2022-2023, he told reporters, adding that the bill still has to be approved by the National Assembly.

The housing issue is a key priority for the government, which is doing all possible to ensure that the Public Authority for Housing Welfare (PAHW) is able to satisfy its commitments to Kuwaitis," the minister stated.

"On January 25, the government poured cash into the allocation of 11,428 plots of land," Al- Rasheed stated, thanking the legislative authorities for their assistance.

"Only three months later, the executive authority granted KD 2.1 billion in funds for the South Saad Al-Abdullah project, signalling our eagerness to help PAHW find housing alternatives," he stated.

He said an investigative panel was formed to establish the causes of the massive fire that occurred late last month at Souq Al-Mubarakiya.

In response to the massive fire that occurred late last month in Souq Al-Mubarakiya, he said an investigation panel was formed to establish the cause of the fire and devise safety measures to prevent the recurrence of such accidents.

"An initial budget of KD six million (about USD 19 million) has been up for the reconstruction process of the iconic marketplace," the minister said, denying media reports to the contrary. KUNA –

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