“With $ 28 million dollars, Smart city Will can stand?”. South Korea and Kuwait to cooperate in smart city development project at a cost of about 28 million US dollars for the manufacture of aircraft design South Saad Al Abdullah.
However, at this time, the project cost constraints are faced in designing the city-run Korea Land and Housing Corp. (LH).
Set budget is too low compared to the volume and complexity of the project.
LH itself is the chief manager city development project and has opened the auction beginning to hire subcontractors who then deal with urban design.
A development company official who attended the information session the project said, at least the required 50 billion South Korean won, for smart urban planning.
Planning including feasibility studies, master planning and designing the initial 3,000 homes.
“We can not rule out the possibility of losses incurred by considering the requirements of smart city projects such as designing, conducting field studies, and formed a consortium with a local Kuwaiti company,” said another industry source.
The cost of the actual city planning, however, it may be cut further when the fierce competition to win this project.
Because, this is a smart city development project the Korean government’s first overseas that are being pursued as one of the nine countries the growth engine in the future.
On the one hand, LH remains firm stand on a budget of 28 million US dollars to design the city.
“Landscape Kuwait is quite simple and the risk of government approval is much lower compared to Korea,” said the head of overseas business division LH Sun Byung-soo.
He admitted, it is difficult to argue the cost of designing the city if it is based on urban development projects previously in Korea.