Kuwait's Iconic Souq Sharq Market to Close by January 31, 2026
Wafra Real Estate Company, the managing entity of Souq Sharq, has issued a non-negotiable notice to all tenants and investors, demanding that they vacate the premises by January 31, 2026.
KuwaitSouq SharqWafra Real EstateMinistry Of FinanceRedevelopmentReal EstateNov 07, 2025
The order demands that all leased and invested units be vacated, stripped of all furniture and goods, and handed over empty. The final, strict deadline for this massive move is January 31, 2026. This decisive move signals a major transformation for the landmark seafront facility.
If you run a shop, cafe, or business in the commercial wing of Souq Sharq (Sharq Market), you just got the bad news. Wafra Real Estate Company, which manages the stunning waterfront property, has issued a non-negotiable notice to all tenants and investors. The message is clear: You must clear out everything. This means removing all your stock, furniture, and fittings. The absolute final day for handing back the empty unit is January 31, 2026. This is a massive deal, not just for the owners of the businesses but for the thousands of employees whose livelihoods depend on the mall. It signals a complete shutdown of the retail, dining, and commercial activities that have defined this landmark for years.
Naturally, everyone is asking: Why now? The eviction isn't a landlord's decision to simply raise rent. Wafra Real Estate, which belongs to the Public Institution for Social Security, confirmed that the order is coming straight from the top: the Ministry of Finance. This official request from the Ministry strongly suggests that the site isn't just closing for renovations. Instead, it's likely being cleared for a completely new, large-scale, and highly valuable redevelopment plan for Kuwait's prime waterfront real estate. For the tenants, this means the decision is finalized and difficult to challenge.
Good news for two very important parts of the community: not everything at Souq Sharq is closing down. The eviction specifically targets the commercial and retail section of the mall. You can still count on these two essential parts of the complex remaining open:
- The Fish Market (سوق السمك): All seafood sales and associated operations are safe.
- The Yacht Marinas (مراسي اليخوت): Boat docking and marine services will continue as usual.
So, while the commercial heart of the complex is being emptied, the core services tied to Kuwait's sea-going life will stay put.
For the shop owners and investors, the next few months will be challenging. They now face the daunting task of planning a complete exit from a major commercial space, including finding new locations, dealing with inventory, and managing staff transitions—all within a tight, state-mandated time frame. While the Ministry of Finance has yet to reveal its exact plans for the cleared space, the message for the tenants is urgent: The clock is ticking down to January 31, 2026.
Frequently Asked Questions
What is Souq Sharq?
Souq Sharq, also known as Sharq Market, is a famous commercial and retail complex in Kuwait City, known for its seafood market, yacht marinas, and various shops and cafes.
Who manages Souq Sharq?
Wafra Real Estate Company, which belongs to the Public Institution for Social Security, manages the facility.
What is the deadline for tenants to vacate Souq Sharq?
The final deadline for tenants to vacate Souq Sharq is January 31, 2026.
Why is the Ministry of Finance ordering the closure?
The Ministry of Finance is likely planning a large-scale redevelopment of the prime waterfront real estate, which necessitates the closure and evacuation of the current commercial spaces.
Will the Fish Market and Yacht Marinas remain open?
Yes, the Fish Market and Yacht Marinas will continue to operate, as the eviction notice only applies to the commercial and retail sections of Souq Sharq.
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