NBK Pledges KD 8 million to Boost Sharq Area with New Park and Parking Facility

The agreement was signed at the Kuwait Municipality headquarters in the presence of Dr. Noura Al-Mashaan, Minister of Public Works and Minister of State for Municipal Affairs. Mr. Issam Al-Saqr, Vice Chairman and Group CEO of the National Bank of Kuwait; And the engineer. Saud Al-Dabbous, Director General of Kuwait Municipality. The ceremony was also attended by representatives of the bank, Al-Shaab National Real Estate Company, and the municipality.

The new project extends over an area of more than 12,000 square metres, and will include lush green spaces, a mix of soft and hard landscaping, and areas for public entertainment. The accompanying car park is set to provide more than 1,000 parking spaces, significantly alleviating the ongoing parking shortage and traffic congestion within the bustling Al Sharq commercial district.

This project is in line with the Kuwait National Development Plan (KNDP) and supports the objectives of Kuwait Vision 2035 to make Kuwait a leading financial and commercial centre. It also responds to the recent call made by the Kuwait Municipality to involve the private sector in beautifying and improving the infrastructure of Kuwait City.

Benefits and expected impact

The project, which is scheduled to be completed in approximately two and a half years, aims to achieve multiple benefits: