Kuwait Insurance Company leaves 'Ministers Complex'
The company hands over its office and does not renew its lease as part of cost-cutting measures.
Translated by Qiyas from الراي — Original source
Kuwait Airways officials informed the Ministry Complex that the company’s office will be handed over and that the lease for Kuwait Airways’ continued presence at the Ministry Complex will not be renewed. Some interpreted this move as part of broader cost-cutting initiatives led by the airline’s new board of directors.
It is worth noting that, in addition to Kuwait Airways and various commercial enterprises, three government entities also occupy offices in the Ministry Complex on a rental basis: Kuwait Aviation Services Company (KASCO), Kuwait Flour Mills and Bakeries Company (KFMB), and Al-Roudhatain Water Bottling Company. This arrangement aligns with the operational strategies of these three entities, which aim to meet the needs of the complex’s employees and visitors through their services within a modern and practical environment.
According to the ministerial decree on pricing certain sites and associated facilities within the Ministry Complex, government entities receive branches in the complex at a rental rate per square meter that is 25 percent lower than the rate set for banks and commercial companies, in line with plans to support government entities.
