Kuwait revives delayed housing project with South Korean partner

SEOUL, September 25 (AJP) - South Korea’s state-run Land and Housing Corporation said Friday that work has resumed on a long-delayed housing development in Kuwait, reviving one of the Middle East’s largest urban projects.

The development of Abdullah New City, located about 30 kilometers west of Kuwait City, is designed to provide 43,000 homes across 6.44 million square meters of desert land. The project, which carries an estimated budget of 23.6 trillion won, or about $17 billion, is scheduled for completion by 2045.

The Land and Housing Corporation, known as LH, secured the project management contract last year and is currently advancing a pilot complex of 550 housing units on a 490,000-square-meter site. The project had been stalled for years by pandemic disruptions and regulatory hurdles before restarting in late 2023.

The revival of the Abdullah New City initiative has opened the door for South Korean companies to expand their footprint in Kuwait.

On Sept. 22, Hanmi Global, a Seoul-based project management firm, secured three additional contracts worth 31 billion won from Kuwait’s Public Authority for Housing Welfare. LH is also exploring partnerships with Samsung Electronics to introduce smart home technologies and with Isu Chemical to develop climate-resilient vertical farms within the city.

* This article, published by Economic Daily, was translated by AI and edited by AJP.