Kuwait International Airport (KIA) once played a central part in Kuwait’s identity as an infrastructural lynchpin for the GCC and the Levant. But the airport, and much of national carrier Kuwait Airways’ fleet, suffered extensive damage during the Iraqi invasion in 1990. Since then the Gulf’s aviation focus has moved south, with the UAE, Bahrain and...
The Kuwait Investment Authority (KIA) has announced plans to invest KD1bn ($3.6bn) in the commercial real estate sector over the next five years. This liquidity injection has the potential to boost property values, stimulate lending and strengthen the financial position of companies. By selectively targeting properties it deems underpriced, the KIA...
As in many other countries, the construction industry in Kuwait was one of the first areas of the economy to suffer as a result of the global recession. However, the sector is now poised to become one of the immediate beneficiaries of Vision 2035, an ambitious blueprint for economic growth and diversification that will see hundreds of billions of...
Under the National Development Plan (NDP) and Vision 2035, the government is committed to spending vast sums on construction and infrastructure projects over the next two decades. Although liquidity in the public sector is high, many of these projects will require significant private investment to come to fruition. To attract investors, the...
For many, the passage of the National Development Plan in 2010 heralded an opportunity for Kuwait’s non-energy-related industries to finally come to the fore of the country’s economic development. Indeed, desire to diversify the country’s income stream – around 90% of government revenue over the last 10 years has come from oil receipts – has led to...
The emergence of Kuwait City’s sparkling new office towers over the past five years reflects the accelerating pace of growth and development in the nation. These structures also symbolise the country’s changing economic climate, which is producing more business opportunities for contractors, consultants and investors. “Both domestic and foreign...
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