**Kuwait City, Kuwait —** The Kuwait Investment Authority (KIA) is spearheading the $660 million Entertainment City project, signaling a boom in Kuwait’s commercial real estate sector. Initially announced in October 2019 and relaunched in May 2023, the project aims to attract over 900,000 visitors annually by 2030.
The Ministry of Finance recently transferred project management to KIA, a move welcomed by industry experts. MR Raghu, CEO of Marmore Mena Intelligence, highlighted the project’s potential to boost local momentum and economic growth.
Logistics-related real estate deals in Kuwait nearly doubled in the first half of 2024, driven by a surge in new business orders from overseas, leading local firms to increase hiring.
The new Entertainment City, replacing its 1984 predecessor demolished in 2020, will feature indoor and outdoor amusement parks, athletic facilities, and gaming centers. This development aligns with regional trends in the Gulf, aiming to diversify economies and enhance tourism and entertainment sectors.
