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Kuwait’s IFA plans USD200m residential complex

20 Jul 2015

(MENAFN) IFA Hotelier Investments (IFAHI), a wholly owned subsidiary of IFA Hotels & Resorts, is developing a new staff housing complex to accommodate up to 10,000 people, Arabian Business reported.

The new $200 million complex will cover 600 sq m and will feature indoor sports facilities, catering service, and state-of-the-art amenities, and is scheduled to be operational by September 2016.

The staff accommodation business, which currently falls under IFAHI’s contracted services division, will eventually become a separate business division with its own brand, the CEO of IFAHI revealed.

“It’s a facility for 10,000 staff, of which we’ve already got pre-commitment for 8000 of those and interest from another 20,000. So we have more demand for this than we have supply,” the CEO added in the statement.

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