[THE INVESTOR] Korea Land & Housing Corporation won a 4 trillion won (US$3.66 billion) project to build the first smart city in Kuwait on Aug. 5, it announced Aug. 16.
KLHC will construct a new smart and environmentally friendly city named South Saad Al-Albullah spread over a site of 59 square kilometers to accommodate up to 40,000 housing units.
Located 30 kilometers west of the capital, it will combine information and communications technology with state-of-the-art housing and urban engineering. It is the first of nine new cities to be built in the Middle Eastern country.
The South Korean Ministry of Land and Transportation signed a memorandum of understanding with the Kuwaiti Ministry of State for Housing Affairs in March that included the local government financing infrastructure and purchasing sites and housing that fail to sell.
