Sharq Market was developed by the National Real Estate Company in 1994 and was operational four years after, in 1998. Souq Sharq is the third phase of the coastal front master development project. The project consists of four main components; vegetable and fish market, Sharq Market (the mall), a 350 boats marina, and public beaches and facilities. The project is spread over 282,000 square meters and costs KWD 32 million. The development is overlooking the Arabian Gulf from one side and Gulf Street from the other. The project is a Buy Operate Transfer (BOT) by the Kuwait Government. The BOT contract of this project is 25 years which started in 1994 and ended in 2019. The government represented by The Kuwait Authority for Partnership Projects (KAPP) extended the project’s management for one year to further study the renewal agreement and/or other investment and management options.

4 Oct 2019