Kuwait, China ink $4bn deal to build Mubarak Al-Kabeer Port 

Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah at the signing ceremony. KUNA
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Updated 23 December 2025
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Kuwait, China ink $4bn deal to build Mubarak Al-Kabeer Port 

RIYADH: Kuwait has signed an engineering, procurement and construction contract with China valued at around $4 billion to construct the Mubarak Al-Kabeer Port on Bubiyan Island. 

The agreement was signed by Minister of Public Works Noura Al-Mashaan and Chen Zhong, deputy chairman of China Communications Construction Co., according to the Kuwait News Agency, 

The deal aligns with Kuwait’s efforts to overhaul its infrastructure and strengthen its strategic position as a regional transport and logistics hub. 

Addressing the signing ceremony, Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah said relations between the two countries are built on historical ties, mutual political respect, confidence, and shared interests. 

“These ties are based on the sagacious vision of the leaderships in the two countries, joint will to consolidate constructive cooperation at various levels and promote the bilateral relations to the level of strategic partnership,” KUNA quoted the prime minister as saying. 

He added that development of the port is one of the key factors that will shape the country’s future economic growth. 

The prime minister said the project would enhance Kuwait’s share of regional and international trade and strengthen its role in the global supply chain. 

According to Al-Sabah, the port is also essential to achieving the objectives of New Kuwait Vision 2035, contributing to economic diversification, increasing national income, creating quality job opportunities, and strengthening the logistics and commercial sectors. 

For her part, Al-Mashaan said the port is expected to strengthen Kuwait’s maritime transport infrastructure by boosting the operational capacity of the country’s ports. 

She added that the deal is a cornerstone for constructive cooperation between both Kuwait and China. 

Chinese acting charge d’affaires Liu Xiang said the deal constitutes participation in the Belt and Road Initiative, KUNA reported. 

China considers the Middle East a key partner in the initiative, a global infrastructure strategy launched more than a decade ago under President Xi Jinping. 

The signing ceremony was also attended by First Deputy Prime Minister and Interior Minister Sheikh Fahad Yusuf Saud Al-Sabah, Deputy Prime Minister and Minister of State for Cabinet Affairs Shareedah Al-Mousherji, Head of the Prime Minister’s Diwan Abdulaziz Dekheel Al-Dekheel, as well as ministers and senior state officials.


Saudi regulator proposes new real estate ownership rules for listed firms 

Updated 11 sec ago
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Saudi regulator proposes new real estate ownership rules for listed firms 

RIYADH: Saudi Arabia’s capital markets regulator has proposed new controls governing real estate ownership by listed companies, investment funds and special purpose entities, as part of efforts to strengthen market oversight and investor confidence. 

The Capital Market Authority said the draft framework regulates mechanisms for owning real estate and other in-kind property rights across the Kingdom, with the aim of enhancing capital market efficiency and competitiveness. 

The framework aligns with the Non-Saudi Real Estate Ownership Law, which is expected to take effect in early 2026 and grants the CMA authority to issue controls governing real estate ownership by listed companies, investment funds and special purpose entities. 

“The proposed draft aims to regulate the mechanism for real estate ownership by listed companies in the Saudi capital market, as well as licensed investment funds and special purpose entities, in a manner that contributes to enhancing the efficiency of the capital market, increasing its attractiveness to investors, and strengthening its regional and international competitiveness,” the CMA said in a statement. 

The draft also sets out specific conditions for non-operational real estate ownership in  Makkah and Madinah. Under the proposed rules, a foreign strategic investor must not, at any time, hold shares or convertible debt instruments in the listed company.  

The regulator has opened a 15-day consultation period, ending Jan. 14, 2026, to gather feedback from market participants before finalizing the rules.  

Once approved, the framework is expected to support investment, enhance international participation and strengthen foreign capital inflows, in line with Vision 2030 objectives to develop the financial and real estate sectors. 

The CMA said the proposed controls would not affect existing regulatory obligations for foreign investors, listed companies, investment funds, special purpose entities or capital market institutions, adding that they build on existing frameworks without introducing new provisions.