China's MCC Presents Plan for a $22 Billion Project Dubbed Sabriya City in Kuwait, Entirely Financed by Themself
The Sabriya City project, proposed by the Kuwait-China Joint Investment Company, is set to be one of the largest housing initiatives in Kuwait's history. This significant project, closely followed by the leadership of both countries, is a key component of Kuwait Vision 2035.
The Chinese company MCC is at the helm of Sabriya City's establishment, with plans to construct 52,000 housing units, complete with full services and advanced infrastructure. Spanning an area of 80 square kilometers, the city is expandable to 110 square kilometers.
However, it's important to clarify that the Sabriya worker city project, a separate initiative, is not part of the 52,000 housing units in Sabriya City. The worker city, instead, is planned for an area of its own, in Sabriya and South Jahra.
MCC is also conducting engineering and feasibility studies for the Sabriya worker city, supported by an independent economic model. The project, if executed swiftly with the cooperation of the Public Authority for Housing Welfare and other relevant bodies, could significantly help alleviate Kuwait's housing crisis.
The Sabriya City project also includes the construction of a power plant with a production capacity of 3-5 gigawatts, and a water treatment plant, both crucial for securing sustainable resources. However, it's worth noting that these facilities are not part of the Sabriya worker city project.
The total investment for Sabriya City is estimated to be up to $22 billion (approximately 6.7 billion dinars) under the EPC+F model. This model relieves the state of direct costs, as MCC will bear the full financial burden for the project.
Under this model, the project is expected to be completed within six to seven years. The company has also proposed two additional workers' cities, one in Sabriya and another in South Jahra, at a combined cost of 700 million dinars.
Delays in final agreements for the Sabriya worker city project could jeopardize a significant opportunity to ease Kuwait's housing crisis. Swift decision-making and cooperation from all parties involved are crucial for the success of this project.
In addition to housing units, Sabriya City will feature designated commercial and investment zones, a marina, and could potentially expand. The city's vision also includes a water treatment plant estimated at 400 million dinars.
The Sabriya worker city, on the other hand, will be self-contained, with its own commercial and investment zones, and could potentially include a marina as well. The project does not involve the construction of a power plant or a water treatment plant.
The Sabriya City project is not one of the largest housing initiatives in Kuwait's history, as Sabriya City is. Instead, it is a significant part of that initiative, promising to bring about substantial changes in Kuwait's housing landscape.
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