Government document ‘sheds light’ on Failaka Island’s development vision – ARAB TIMES
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The project provides a valuable addition to the country’s tourist attractions
KUWAIT CITY, August 18: A government document highlights a comprehensive vision for the development of Failaka Island with a tourist park, Al-Qabas daily reports. The project represents a unique opportunity to establish a development, tourism and investment project at international standards and within the existing laws and procedures at no cost to the state, and is a valuable addition to the country’s tourist attractions.
The document, a copy of which was obtained by the daily, states that the Failaka Island Resort development project will revive the country’s tourism sector, provide employment and contract opportunities for Kuwaiti companies of different sizes and in different sectors, will attract Gulf countries and non-Gulf tourists and confirms the seriousness of the government in the development of the island and the attraction of reluctant investors. The daily adds that there are several advantages such as encouraging the tourism sector in Kuwait, and moving the economic wheel to Failaka Island at the lowest cost to the state budget; government involvement in providing tourist land at a cost that encourages the private sector; private sector participation to attract the best models of tourist parks through construction, development and operation; increase the supply of land for recreation, which will lead to lower fixed operating costs; strengthen demand and directly and indirectly enhance the associated projects and services, with a view to implementing the overall development project for the island of Failaka entrusted to the Minister of Municipalities and enabling the private sector to attract talent and develop unique and innovative projects with economic, social and environmental profitability.
The general perception of the project shows during the process of redevelopment and operation of the park, a commitment is made to preserve the unique cultural, social and environmental heritage of the island, in accordance with the overall vision of Failaka Island; the Failaka tourist park site divided into 2 to 4 parks as needed, and each park has a particular character, to serve various customer segments (tourist park, family park, heritage park), physiotherapy or convalescent sanatoriums and recovery and development of public facilities and services for all parks in an integrated manner to serve the entire project, provided that collective and alternative internal transport is provided to ensure a comfortable and attractive environment for citizens.
The project start-up period is expected to be 6-9 months and will include defining the project requirements, specifications and conditions for the investor; establish a selection mechanism based on the technical, economic, financial and service specifications, and the project idea; announcing the 3-month investor submission period; a committee that studies the projects submitted and selects the most appropriate; a lease contract will be concluded between the state property and the investor for a period of 20 years. According to the proposed model for development and operation, the project is leased for 20 years using the differentiation mechanism, including the project is offered for lease for a period of 20 years in accordance with article 17 of the law on state property. Which stipulates that it is permitted to rent private immovable or movable property of the State at a nominal price or less than the same salary to a legal or natural person with the intention of achieving a public interest objective, and the lease is based on the proposal of the minister or the head of the competent authority or institution and approval by the Council of Ministers; the willingness of the Ministry of Finance to propose the project for operation and to attract bids from qualified and approved private sector companies is announced and the terms and conditions of bidding are set to serve the overall perception of the island by the Ministry of Municipality and comply with the highest international standards.