Kuwait\u2019s United Real Estate Company (URC) announced an agreement with Red Sea State to develop the Arous Resort, north of Port Sudan, at a cost of nearly $100 million.<\/p>\n
The project includes a hotel, a residential area, agricultural ventures, and energy projects. Funding will come 80% from the Kuwaiti company and 20% from the state government. The Arous area is well known as a historic diving hub and is associated with Mossad operations between 1979 and 1984.<\/p>\n
The investment reflects the personal interest of Kuwaiti Emir Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, who owns private property in the area. The project is managed by the KIPCO family group, which also holds major Sudanese investments, including telecom giant Zain.<\/p>\n
During the war between Sudan\u2019s army and the Rapid Support Forces (RSF), Kuwait sided with army chief Gen. Abdel Fattah al-Burhan, joining Qatar and Saudi Arabia in rejecting recognition of any parallel RSF-backed government.<\/p>\n
Although less visible in Sudan than Saudi Arabia and the UAE, Kuwait is Sudan\u2019s largest bilateral creditor, with debts of around $15 billion, and has invested $2.9 billion in 57 projects.<\/p>\n","protected":false},"excerpt":{"rendered":"
Kuwait\u2019s United Real Estate Company (URC) announced an agreement with Red Sea State to develop the Arous Resort, north of Port Sudan, at a cost of nearly $100 million. The project includes a hotel, a residential area, agricultural ventures, and energy projects. Funding will come 80% from the Kuwaiti company and 20% from the state …<\/p>\n","protected":false},"author":2,"featured_media":53885,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-53884","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economic"],"_links":{"self":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/53884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/comments?post=53884"}],"version-history":[{"count":1,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/53884\/revisions"}],"predecessor-version":[{"id":53886,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/53884\/revisions\/53886"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media\/53885"}],"wp:attachment":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media?parent=53884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/categories?post=53884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/tags?post=53884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}