Wafra Real Estate to invest in development of Failaka Island in Kuwait

Wafra Real Estate to invest in development of Failaka Island in Kuwait

KUWAIT CITY, Sept 19: The Public Institute for Social Security, represented by its real estate arm, Wafra Real Estate Company, is studying investment on Failaka Island through the development of a marine tourist park with all its facilities, including chalets, infrastructure and logistics to serve it, reports Al-Qabas daily. Informed sources said that Wafra Real Estate will conduct a feasibility study to enter into this investment, especially as it intends to develop its project on the island on a world-class model that simulates the best similar projects in the world, while preserving and renovating the historical and social identity of the island.

The sources confirmed that the PIFSS investment in Failaka is profitable and aims to maximize the institute’s revenues from generating assets that reflected positively on the salaries of retirees, pointing out that PIFSS follows, in all its projects and investments, a strategy that balances between profitability, hedging and risk management.

The sources added that the Social Insurance Institution’s tendency to invest in “Sheikh Jaber Al-Ahmad Causeway Islands” or even in Failaka Island or any vital future projects in Kuwait is part of its role in the search for good investment opportunities, as well as in an effort to move the