Kuwaits Public Authority for Housing Welfare (PAHW) and the Korea Land & Housing Corporation (LH) have announced that a consortium of South Korean contractors will work on the South Saad al-Abdullah New Town.
It is understood that the consortium will be made up of Posco E&C and Hyundai Architects & Engineers, according to a statement from the South Korean Ministry of Infrastructure.
The statement also said that work will start in 2019, once all design and feasibility studies have been completed.
PAHW and LH agreed in May last year to form a joint construction company mandated to plan, design and construct up to 30,000 housing units in the new development. They will fund the work jointly.
The $10-15bn South Saad Al-Abdullah New Town will cover 59 square kilometres, and could have a population of 200,000. It is due to be completed in 2020.
PAHW is seeking to involve the private sector as it works to provide affordable housing for Kuwaiti families and reduce upfront costs. The authority has a backlog of 107,000 applicants, with an average waiting time of seven to 18 years.
PAHW is also working on the 104 square kilometre South al-Mutlaa City and the 60 square kilometre South Sabah al-Ahmed City.