Real estate has long been a mainstay of Kuwait’s non-oil economy, while its construction industry is among the strongest in the region and a rising star in the non-oil economy, with its growing population, tightly regulated land market and wealthy populous all combining to fuel demand for new building. In 2014 the two industries together accounted for 10.6% of non-oil GDP. Although a range of...
Kuwait Construction
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Chapter | Real Estate & Construction from The Report: Kuwait 2016
The fall in oil prices led to significantly reduced government revenues for Kuwait in 2015. Despite this the country’s 2016 spending remained largely in line with previous years as the government opted to draw on its considerable financial buffers to help make up for budgetary shortfalls.
Chapter | Construction & Real Estate from The Report: Kuwait 2015
The Kuwaiti construction market saw a marked rebound in 2014, with the government moving forward with key developments in a number of sectors. The Public Authority for Housing and Welfare has a mandate to provide housing for 2.6m people by 2030. The country’s oil and gas sector was a major contributor to the country’s resurgence in construction projects, with oil and gas projects representing...
Chapter | Construction from The Report: Kuwait 2014
Driven by an expanding population and a slate of new infrastructure projects expected to enhance economic development and meet growing energy demands, Kuwait’s construction industry is set to grow impressively in 2014. Infrastructure projects in the pipeline will see an influx of public and private spending on road, airport and energy projects, while rising demand for housing and hotels has...
Kuwait accounts for approximately 6.1% of the world’s proven oil reserves, with hydrocarbons revenues comprising more than 65% of the country’s GDP and 95% of total exports in 2013. Cautious budgetary decisions have resulted in large surpluses, creating a solid base for public expenditure programmes such as the National Development Plan, which is set to diversify the economy and boost employment.
Chapter | Construction & Real Estate from The Report: Kuwait 2013
Driven by a national development strategy, a raft of new projects are taking shape in the construction industry, all of which provide opportunities for both domestic and foreign contractors. Meanwhile, real estate is in the early stages of a recovery, with legislation and the high purchasing power of a young and expanding population helping the sector to regain lost momentum. This chapter...
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