China Gezhouba Wins $1.2 Billion Kuwaiti Housing Contracts
China Gezhouba Group Company Limited (CGGC) has secured a $1.2 billion contract with Kuwait's Public Authority for Housing Welfare (PAHW) to construct and maintain the South Saad Al-Abdullah residential project. This project, spanning 6,400 hectares in Jahra Province, includes five districts and 24,508 housing units, awarded through a competitive bidding process.
The deal builds on CGGC's successful completion of the Mutlaa Housing Infrastructure Project's rainwater system, which applied green technology to mitigate flooding and conserve groundwater. China's presence in Kuwait's infrastructure sector is growing, with Chinese firms engaged in oil, gas, and transport projects, including the Central Bank of Kuwait's headquarters, built by China State Construction Engineering Corporation and featured on Kuwaiti currency in 2014.
Kuwait's Finance Minister Abdulwahab Al-Rasheed confirmed government funding for the South Saad Al-Abdullah project in its 2022-2023 budget. CGGC also signed two additional PAHW contracts worth $557 million for roads, infrastructure, irrigation reservoirs, and substations in South Saad Al-Abdullah New City.
At the signing ceremony, Chinese Ambassador Zhang Jianwei emphasized the agreements' significance in strengthening China-Kuwait cooperation, while Kuwait's Minister of Housing Affairs, Abdul Latif Al-Mishari, called them a major milestone. Spanning 64 square kilometers, the South Saad Al-Abdullah project is a key part of Kuwait Vision 2035, aiming to house 150,000 residents and drive economic diversification.
For international investors, Kuwait's expanding infrastructure offers opportunities in housing, utilities, and smart city technologies, reinforcing its long-term development ambitions.
First, please LoginComment After ~