Kuwait’s construction and real estate sectors rebounded in the years preceding the Covid-19 pandemic, following the 2017 unveiling of New Kuwait 2035, the government’s overarching development blueprint, which heralded an extensive infrastructure pipeline. This sparked growth in construction activity, and saw a host of new residential and commercial properties enter the market. In...
Kuwait Real Estate
Chapter | Construction & Real Estate from The Report: Kuwait 2022
The economy of Kuwait has long been underpinned by the production and export of crude oil. Although the rise in energy prices in 2021-22 boosted government revenue and macroeconomic stability, the Covid-19 pandemic, which preceded the commodity price boom, underscored the risk of over-reliance on an industry subject to fluctuating global demand. This has created fresh impetus for economic diversification, with robust public finances providing a strong platform to...
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Articles & Analysis | Construction industry prioritising sustainable architecture from The Report: Kuwait 2022
As the construction industry redefines its priorities to ensure sustainability, there is increasing recognition of the benefits of regenerative architecture as a means of lowering emissions. According to the “2019 Global Status Report for Buildings and Construction” published by the UN Environment Programme (UNEP), the construction sector...
Articles & Analysis | Kuwait's property market sees sustained growth from The Report: Kuwait 2022
Kuwait’s construction and real estate sectors rebounded in the years preceding the Covid-19 pandemic following the 2017 unveiling of New Kuwait 2035, the government’s overarching development blueprint, heralding an extensive infrastructure pipeline. This sparked growth in construction activity, and saw a host of new residential and commercial...
Interviews & Viewpoints | Mazen Hawwa, Vice-Chairman and Group CEO, United Real Estate Company (URC): Interview from The Report: Kuwait 2022
In what ways has the Covid-19 pandemic changed the real estate business, and where do you see opportunities for growth moving forwards?
The economy of Kuwait has long been underpinned by the production and export of crude oil. Although the rise in energy prices in 2021-22 boosted government revenue and macroeconomic stability, the Covid-19 pandemic, which preceded the commodity price boom, underscored the risk of over-reliance on an industry subject to fluctuating global demand. This has created fresh impetus for economic diversification, with robust public finances providing a strong platform to...
Articles & Analysis | Growing pressure on emerging markets to solve housing deficits from The Report: Kuwait 2019
Urbanisation is a mega-trend redefining contemporary life in both developed and emerging markets across the world. According to the UN, in 1950, 751m people lived in urban areas; however, by 2018 this number had risen to 4.2bn, equivalent to roughly 55% of the world’s population. By 2050 the UN estimates that this figure will rise to 68%. This...
Articles & Analysis | The Kuwaiti market for real estate investment properties remains subject to broader demographic factors from The Report: Kuwait 2019
Kuwait’s residential real estate market has long been divided into two main segments: private residential housing, which is only available to Kuwaiti and GCC citizens; and investment housing, which usually involves apartments targeted at short-term, expat renters, but is also open to GCC nationals. With expatriates making up around 70% of the...