Kuwait: New city inspired by "Silk Road"

Kuwait is to build a major new city inspired by the Silk Road. The $77 billion "City of Silk" aims to revive the ancient trade route by becoming a major free trade zone linking central Asia with Europe.

Speaking at a conference organized by MEED magazine, Eric Kuhne, managing director of Eric R. Kuhne and Associates said "It is the largest single real estate development in the Middle East."

The development will be located in Subbiya on the northernmost tip of Kuwait Bay near the Iraqi border. Due for completion in 2030, it will have a population of 750,000 people.