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Dubai: UAE-based Hydra Properties, along with Kuwait-based Al Aqeelah Leasing, Finance and Investment Co., and Tassa-meem Real Estate Co., on Tuesday announced a partnership agreement to establish Hydra Al Aqeelah Development Co.
The new company will develop the Aqeeq Al Marina, a mega real estate venture to be located in Kuwait's resort city of Khairan.
Riyadh Al Ali, vice-president of Al Aqeelah, and chief executive officer of Hydra Properties Sulaiman Al Fahim, stressed the importance of this new partnership, which signifies an important turning point in Kuwait's real estate development, particularly since the Khairan project is one of the largest real estate developments in the region.
Since day one of the company's establishment, Al Ali pointed out, officials overseeing the project have taken full responsibility for developing the real estate sector through its subsidiary company, Al Aqeelah International Real Estate Co., which was assigned as one of the major companies in charge of the project.
"This project embodies a combination between the ultimate in luxury and the ultimate in aesthetic design, based on international specifications that stem from the visions held by Al Aqeelah and Hydra Properties in constructing buildings through innovation and creativity, establishing the desired goals that are at par with international standards," said Al Fahim.
The project consists of a major commercial complex, a residential complex and a major luxury hotel. The project's size is approximately 50,000 square metres.
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