Owner : Al Mal Real Estate Co. (http://www.amrek.com/)
Project Name : Ikarus Entertainment Project
Location : Failaka Island
Construction Start :Q?? 2006
Construction End :2008 - 2009


The Ikarus Entertainment project is situated at the south end of Failaka island, opposite to the mainland shores of Kuwait 's coastline. When completed in the first quarter of 2008 after an estimated 30 month construction period, the resort will cover a total of 1.7 million square meters including a 5 kilometer private beach. The main features of the resort include:

http://www.amrek.com/images/pro_kwt_falika1.jpg

• Main hotel with 100 rooms and 502 villas of varying sizes
• Restaurants and shops
• Sporting club, athletic courts and recreational areas
• Water park
• Private marina and docking areas for resort guests
• Spa with 35 villas
• Eco-tourism and camping area
• 9-hole golf course and miniature golf


http://www.amrek.com/images/pro_kwt_falika2.jpg http://www.amrek.com/images/pro_kwt_falika3.jpg

http://www.amrek.com/images/pro_kwt_falika4.jpg http://www.amrek.com/images/pro_kwt_falika5.jpg

http://img482.imageshack.us/img482/2882/06fajlaka02a7pw.jpg

http://img482.imageshack.us/img482/3379/07fajlaka034jf.jpg

http://img482.imageshack.us/img482/7316/05fajlaka011ne.jpg


I found those pictures at http://www.slavijabiro.co.yu along with the following article from www.eqarat.com (http://www.eqarat.com/j2ee/examples/english/newsletter/53/11.htm)

Kuwait unveils plan to develop Failaka Island

Kuwait is opening its doors to an ambitious multi-billion-dollar investment project aimed at transforming Failaka Island into a state-of-the-art tourist attraction.

A government-appointed team presented to potential local and foreign investors Monday a structural plan to build up the emirate's most populous island with a five-year build, operate and transfer (BOT) agreement.

"The purpose was also to bring to light the multiple investment opportunities contained in this project, which is considered among the mega projects with attractive and unique investment opportunities," the team's statement said.

"The project falls within the context of the state's interest in a comprehensive development process, and directing this process towards achieving the optimum utilisation of Kuwait's natural characteristics," it added.

It calls for construction of a holiday resort complete with hotels, shops, and restaurants. Hamed Khajah, communications ministry undersecretary and team member, told reporters the project was estimated to cost a minimum of one billion dinars ($3.3 billion, 2.8 billion euros) and that its scale is unprecedented in this country.

Failaka, the scene of an attack last October when two Kuwaiti gunmen killed a US marine during wargames, lies 20 kilometres east of Kuwait City and is home to Kuwait's most important archaeological site. It is 43 square kilometres (27 square miles) in size, boasts 38 kilometres (24 miles) of coastline and is almost completely flat.

"We prefer one prime investor who can take over the whole project and have sub-investors," said Khajah. "Or, we could take a maximum of three investors," in order for the project to remain financially feasible, he said.

"We have had some response but it's not up to expectation," admitted Khajah, adding that the US-led war in Iraq and months of tension in Kuwait beforehand had thwarted progress.

An international adviser is currently drafting a "term of reference", Khajah said.

Team chairman Jassim al-Oun however would not reveal a figure for the five-year project's estimated cost.

"It is difficult to evaluate the project. We did not specify a figure so that we keep the door open for investors," said Oun, a former minister.

Between 2300 BC and 1100 BC, a Bahrain-based maritime trading civilisation called the Dilmun dominated the Gulf and had a settlement on Failaka, remains of which can still be seen today. The Greeks arrived in the 4th century BC in the form of a garrison sent by Nearchus, one of Alexander the Great's admirals, and Failaka became known as Ikaros.

The island also has ruins of homes, fortifications and temples dedicated to Greek deities from that period. During Iraq's seven-month occupation of Kuwait from August 1990, the Iraqis turned Failaka into a heavily-fortified base and all Kuwaitis living there moved back to the mainland. Some families have since begun renovating their properties. After the occupation, the Kuwait government bought up many residences on the island and Kuwaiti armed forces have maintained a major presence there.

It is linked by ferries to two man-made harbours and to the capital through four submarine pipelines that provide fresh water and electricity.

Kuwait has sovereignty over nine islands in Gulf waters. The largest is Bubiyan in the north while only Failaka is inhabited. Some of the others are popular weekend destinations boasting coral reefs and white sands.

Failaka really deserves these projects since it is one of the best islands of Kuwait.

I was planning to put resorts, national history museums and golf resorts and some F1 tracks in failaka island if i ever own it :P

The government announced that they will be uptaking the completion of the infrastructure of Failaka Island which will cost around KD 200m (US $ 600m). The rest of the development of the island is most probably going to be uptaken by a private company under B.O.T.

how long we have to wait to see one project going under construction most likely i will 130 year old and failaka project will still be under redesign and study

I think that this Ikarus project is under constrcution.

I hope they complete it and lots of tourists not only Kuwaitis will visit Failaka.

The CEO of Enjazat Real Estate Company said in yesterday's newspaper that he expects this project to be completed in 2008 and will cost a total of KD 65m (US $ 195m). So I guess that this project is under construction.

http://filaty.com/i/903/94526/Failaka.png (http://www.sshic.com/leisure_and_hospitality_failaka.htm)

http://filaty.com/i/903/94526/Failaka.png (http://www.sshic.com/leisure_and_hospitality_failaka.htm)

it was in the newspaper yesterday that they will re-tender all filaka projects

@Skoulikimou Thats a good news! thanks :)

Failaka Island Resort!! wooow

I wish to see this project soon in failaka island

it was in the newspaper yesterday that they will re-tender all filaka projects

which news paper???

http://image58.webshots.com/58/2/74/74/2766274740039296599GyvFha_ph.jpg (http://www.keoic.com/projects/hospality/failaka/overview.html)
http://filaty.com/i/903/1.180/RFS-3249-Design-1.png (http://www.keoic.com/projects/hospality/failaka/overview.html)
http://filaty.com/i/903/1.120/RFS-3249-Design-2.png (http://www.keoic.com/projects/hospality/failaka/overview.html)
http://filaty.com/i/903/7.191/RFS-3249-Design-3.png (http://www.keoic.com/projects/hospality/failaka/overview.html)
http://filaty.com/i/903/1.145/RFS-3249-Design-4.png (http://www.keoic.com/projects/hospality/failaka/overview.html)
http://filaty.com/i/903/2.293/RFS-3249-Design-5.png (http://www.keoic.com/projects/hospality/failaka/overview.html)
http://filaty.com/i/903/8.985/RFS-3249-Design-6.png (http://www.keoic.com/projects/hospality/failaka/overview.html)
http://filaty.com/i/903/1.283/RFS-3249-Design-7.png (http://www.keoic.com/projects/hospality/failaka/overview.html)
http://filaty.com/i/903/6.963/RFS-3249-Design-8.png (http://www.keoic.com/projects/hospality/failaka/overview.html)

pDDBjE-Kxr4

Winner will re-design masterplan for proposed tourism development

Kuwait’s Partnerships Technical Bureau (PTB) has received bids for the contract to supply transaction advisory services for the estimated $3bn tourism development on Failaka Island.

The PTB received bids from five consortiums on 30 November, said Yousef Munawer, chairman, steering committee for Failaka island, speaking at MEED’s Kuwait Projects Conference 2010.

The transaction advisory service will involve the master-planning, feasibility study and the environmental impact assessment.

The PTB expects it take about two months for them to select the consortium for the advisory role. The winner will then have 21 months to re-design the masterplan.

Kuwait’s Public Works Ministry is planning to transform the 43-square-kilometre island of Failaka, which lies 20 kilometres east of Kuwait City, into a major tourism and leisure resort. This involves the construction of infrastructure, a waterfront development with chalets, hotels, a new marina and a jetty.

Kuwait first decided to develop the island in 2003, but the project was severely delayed following an investigation carried out by the state audit bureau into construction contract awards in Kuwait in 2008.

Failaka Island is just part of Kuwait’s wider PPP programme, which comprises 24 projects worth $21bn.

MEED (http://bit.ly/fu29aB)

Awesome to see this project re-launched, along with Abdullah Al Ahmad street.