TEC begins work to develop major Jahra entertainment project
KUWAIT: Officials from the Touristic Enterprises Company (TEC) has signed a contract with the Kuwait Financial Centre (Markaz) pose for a photo.
KUWAIT: The Touristic Enterprises Company (TEC) has signed a contract with the Kuwait Financial Centre (Markaz) to develop a major new entertainment and tourism project in Jahra, signaling a key step in enhancing the area's infrastructure and visitor experience. According to a press release issued Thursday, the project aims to become a vibrant destination that contributes to Kuwait's broader tourism development goals. Markaz will bring its investment and development expertise to ensure the project's financial and operational sustainability. The statement didn't provide further details about the nature of the project.
Jahra has emerged as a key area of interest for entertainment investments in recent years. This includes the Jahra Waterfront Project, also known as 'Al-Corniche,' which was approved by the Municipal Council in October 2024. The waterfront development spans approximately 5,794 square meters and is expected to generate around 25,000 job opportunities, making it one of the most ambitious tourism infrastructure initiatives in the country.
Acting CEO of TEC, Abdullah Al-Jaafar, stated that this collaboration is a strategic move within the company's ongoing efforts to establish impactful partnerships with leading institutions. '(The project) strengthens TEC's position as a leader in the tourism and entertainment sector in Kuwait,' he said. Al-Jaafar expressed hope that the agreement would deliver added value that positively reflects on the company's services, entertainment facilities, and visitor experience.
Abdullatif Al-Nusif, Managing Director of Wealth Management and Business Development at Markaz, said that this cooperation aims to provide innovative investment solutions that contribute to the development of Kuwait's entertainment infrastructure in line with the state's vision to support the national economy. Al-Nusif added that this step is part of TEC's broader approach to leverage private sector expertise in developing and managing its projects according to the highest global standards. It also aligns with TEC's goals of diversifying revenue sources and offering high-quality experiences to visitors. — Agencies
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