15 real estate and
investment companies have signed the Articles of
Association of a Public Private Partnership
(PPP) Investors Union which was registered.
Singing the said Articles of Association was
effected during the activities of the 5th
Conference of "Private Sector Role in BOT
Development and Infrastructure Projects" to be
organized by Kuwait Commercial Markets Complex
Co. under the patronage of His Highness Minister
of Finance, Mr. Bader Al-Humaidhi.
CEO & MD of Kuwait Commercial Markets Complex
Co., initiator of the Union establishment idea,
Mr. Tawfeeq Al-Jarrah, clarified that objectives
of the Union aim at reinforcing the Union's
cooperation with the Government and providing
solutions for the problems and obstacles
experienced by the private sector during the
different investment phases.
The Union should play a significant role in
supporting the methods and mechanisms employed
the Government to release its projects, in order
to achieve transparency, fair competition and
public interest, Al-Jarrah added.
The Union will provide the necessary advice and
assistance to and reinforce cooperation among
the Union members, develop the Union's
relationship with the concerned governmental
organizations and protect interests of its
members. Union membership will be allowed to the
limited liabilities companies which have
outstanding BOT projects and similar ones, he
added.
The Union's Articles of Association were signed
by the following companies:
"Kuwait Commercial Markets Complex Co.,
Commercial Real Estate Co., Construction &
Development Co, Industrial Investments Co.,
Grand, Western Constructions Co., Sheyokh
United Co., Jiblah Holding Co., Jazeerah Real
Estate Development Co., Tourist Jahra Co.,
Global Investor Co., Kuwait Real Estates Co.,
Kuwait Parks Co., Al-Ossaimi Real Estate
Consultancy Co., Housing Finance and the First
Investment Co.".
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