KUWAITI GROUP LAUNCHES $100 MLN TOURIST PROJECT IN IBB

SANA'A, May 24(Saba) – The Kuwait-based Al-Kandari International Group (KIG) inaugurated on Monday in Ibb province the first phase to set up Ibb Knooz Project (Ibb Treasures Resort) at a cost of USD 100 million.

The project, which would be built on an area of 500,000 square meters, consists of five-star hotel with its facilities, a real estate project of 320 villas and 120 chalets, shops, gym and commercial properties.

Chairman of Al-Kandari Group for Trade and Contracting Jassem al-Kandari said that choosing Ibb by the group to implement this project has many goals, among them to make Ibb and Yemen a destination for the Arab tourism and in particular the Gulf tourism.

Inaugurating the first phase of the project comes within the celebrations of the 20th anniversary of the Unification Day; al-Kandari added noting that the project would provide many job opportunities for the Yemeni labor and develop the province culturally and aesthetically.

Starting work on this project would be a significant step towards the Kuwaiti investments in Yemen, he confirmed pointing out that the project would be implemented in three phases, for a period of five years and its first phase would take three years.

For his part, Director of Ibb Knooz Project Abdul Aziz al-Kandari praised the facilities offered by the Yemeni government and officials in order to start the implementation of the project.

"The Yemeni laws grant competitive advantages for the Arab and foreign investors in Yemen", he said.

BA