Al-Naeem Residential Project: A New Era in Affordable Housing
Al-Naeem Residential Project is a significant initiative in Kuwait’s efforts to provide high-quality, affordable housing for its citizens. Designed to address the growing demand for low-cost housing, this project offers a modern alternative to the densely populated and aging neighborhoods of Sulaibiya and Taima.
With innovative planning and a strategic location, Al-Naeem aims to redefine affordable living by creating a well-planned residential community that prioritizes both affordability and quality, ultimately elevating the standard of living for its residents.
Who is Behind This Project?
The Public Authority for Housing Welfare in Kuwait is responsible for implementing Al-Naeem Residential Project. This government body has been instrumental in addressing the housing needs of Kuwaiti citizens by developing sustainable and accessible residential communities. Through meticulous planning and execution, the Authority ensures that projects like Al-Naeem align with the nation’s vision for urban development.
The Scale and Scope of the Project
Covering a vast area of approximately 830 hectares, Al-Naeem Residential Project is a massive undertaking. The development is divided into three main segments:
- Private housing: Spanning 452.5 hectares, this segment will accommodate around 10,000 housing units, offering ample space and modern amenities for families.
- Investment housing: This segment covers 7 hectares and includes 910 units designed for those seeking affordable rental options or investment opportunities.
- Commercial buildings: It covers 6.50 hectares and includes 149.60 hectares of public service buildings and main services.
The residential units
The area of the residential units in Al-Naeem project reaches 250 square meters for each unit in the private housing, which is distributed across two floors: the ground floor, with an area of 150 square meters, and the first floor, with an area of 100 square meters. In the investment housing area, 119 plots have been allocated with an area of 500 square meters, 11 plots with an area of 800 square meters, and other plots exceeding 1000 square meters in area.
Location and Geographic Advantages
Located southwest of Jahra, Al-Naeem Project boasts a prime location with several geographical advantages. Its proximity to major cities ensures easy access to essential services and urban amenities, making it a convenient choice for families.
Additionally, the area is situated far from industrial zones and sources of pollution, providing a clean and healthy environment for residents. The flat terrain further enhances its suitability for large-scale residential development, ensuring efficient infrastructure and construction.
Progress and Milestones
Al-Naeem Residential Project has made significant strides since its inception. Key milestones achieved so far include:
- Planning and design: Comprehensive planning and meticulous design have laid the foundation for a sustainable and functional residential community.
- Tendering process: The project has successfully gone through the tendering process, ensuring the selection of qualified contractors and suppliers.
- Execution: Construction has commenced, with 80% of the project already completed, reflecting steady progress and efficient management.
Impact on Real Estate Prices
One of the notable effects of Al-Naeem Residential Project is its impact on the local real estate market. By increasing the availability of residential properties, the project has contributed to a rise in supply, which helps stabilize or even reduce property prices in the area. For lands located farther away, this stabilization ensures a balanced real estate market, benefiting both buyers and investors.
The Goal behind Al-Naeem Project
The primary goal of Al-Naeem Residential Project is to provide affordable housing solutions for Kuwaiti citizens. By targeting residents of the densely populated neighborhoods of Sulaibiya and Taima, the project aims to relocate families to a more modern and spacious environment. Furthermore, the initiative offers highly affordable rental rates, with monthly rents set at just 50 Kuwaiti dinars. This ensures that housing remains accessible to a broader segment of the population, promoting social equity and improved living standards.
Buy and Sell Residential Properties on 4Sale
If you are searching for residential properties to buy or rent anywhere in Kuwait, explore our dedicated property category. Discover a wide range of options with varying prices across multiple locations. Visit our platform today to find the perfect property for you.
