In June, the local real estate company Al-Mazaya Holding announced plans for a KD200m ($750m) project to create financial and cultural hubs on reclaimed land in Kuwait Bay.

It had hoped to present its proposal to the government in June, but still has received no indication when this will happen.

“We have had no reply yet,” says Abdullah al-Roudan, assistant projects and business development manager at Al-Mazaya. “We have no indication when we will get the chance to present to the Prime Minister. To be honest it will take a while.”

The financial island, called Neira, will be split into three zones: a financial hub, a civic centre for government offices and a residential area. The other island, known as Yammar, will be a heart-shaped development focusing on leisure and cultural activities, including art galleries and theatres.

The two hubs will require 1.5 million square metres and 4.6 million sq m of reclaimed land respectively, and offer 20,000 residential units in total.

Al-Mazaya says the project will provide more than 90,000 jobs for locals. The UK’s Halcrow is the design consultant and was responsible for the project’s masterplan.