CITRA Signs KD 16 Mln.-Worth Lease With Ooredoo

2025-02-05 10:06:44

(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Feb 5 (KUNA) -- The Communication and Information technology Regulatory Authority (CITRA) inked on Wednesday a contract to lease Ooredoo a plot of land for KD 16 million (USD 51.8 million).
Under the contract, Ooredoo will use the land, located in the Capital governorate, as administrative headquarters for 10 years.
The terms of the lease are in keeping with the ministerial decree No. 1274 (2023) and its executive statutes, according to a CITRA statement received by KUNA.
The contract, signed by CITRA Acting Chairman Abdullah Al-Ajmi and Ooredoo CEO Abdulaziz Al-Babtain, stipulates that the annual lease payment of the land is KD 88.5 (nearly USD 287) a square meter.
Hailing the signing of the contract as a big stride towards strengthening the public-private sector partnership, Al-Ajmi said the State of Kuwait works to maximize benefit from the properties and economic resources.
The contract falls in the framework of CITRA efforts to enhance the communication in information technology and revitalize economic growth, he added. (end)
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