NBK pledges KD 8m for new park and parking facility at Sharq

Wednesday, May 22, 2024

In a significant push towards sustainable urban development, the National Bank of Kuwait (NBK) has committed KD 8 million to a transformative project in the Sharq Area, in collaboration with Kuwait Municipality and Al-Shaab National Real Estate Company. This initiative will see the creation of a public recreational park and a multistory parking garage, aiming to enhance the urban landscape and address infrastructural needs.

Spanning over 12,000 sqm, the new development will incorporate lush green spaces, a mix of soft and hard landscaping, and areas for public recreation. The accompanying parking facility is set to provide over 1,000 parking bays, significantly mitigating the persistent parking shortages and traffic congestion within the bustling Sharq business district.

This project aligns with the Kuwait National Development Plan (KNDP) and supports the objectives of Kuwait Vision 2035 to establish Kuwait as a leading financial and commercial hub. It also responds to a recent call by Kuwait Municipality for private sector engagement in beautifying and improving Kuwait City’s infrastructure.

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