Kuwait's Construction Industry - Key Trends and Opportunities to 2021
- The Kuwaiti construction industry's growth prospects by market, project type and construction activity
- Analysis of equipment, material and service costs for each project type in Kuwait
- Critical insight into the impact of industry trends and issues, and the risks and opportunities they present to participants in the Kuwaiti construction industry
- Profiles of the leading operators in the Kuwaiti construction industry
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In real terms, the Kuwaiti construction industry registered an average annual growth rate of 5.6% during the review period (2012–2016). This growth was supported by the government’s Five-Year Development Plan 2009–2014, under which the government invested in developing transport infrastructure, industrial parks, healthcare facilities and residential buildings.
The country’s construction industry will continue to expand in real terms over the forecast period (2017–2021), driven by the government’s focus on the development of transport infrastructure, energy and utilities facilities, and affordable housing.
Under the Five-Year Development Plan 2015–2020, the government plans to spend KWD34.2 billion (US$117.7 billion) to develop roads, rail, airports networks, water infrastructure, power projects and social infrastructure projects by 2020.
Furthermore, in January 2017, the government launched New Kuwait 2035 strategy with an aim to transform the country into regional financial and cultural hub by 2035. The government plans to launch 164 sub-programs and projects to develop tourism infrastructure, IT parks, commercial buildings and other related infrastructure by 2035.
This report provides a comprehensive analysis of the construction industry in Kuwait. It provides:
- Historical (2012-2016) and forecast (2017-2021) valuations of the construction industry in Kuwait using construction output and value-add methods
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by project type
- Breakdown of values within each project type, by type of activity (new construction, repair and maintenance, refurbishment and demolition) and by type of cost (materials, equipment and services)
- Analysis of key construction industry issues, including regulation, cost management, funding and pricing
- Detailed profiles of the leading construction companies in Kuwait
Reasons To Buy
- Identify and evaluate market opportunities using Timetric's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using Timetric's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
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- To bridge the gap between supply and demand for housing units in the country, the government is focusing on the construction of residential buildings under the public-private partnership (PPP) model. In 2016, the government announced plans to invest KWD14.5 billion (US$47.6 billion) to build the Mutlah Residential City, Al Subiyah Residential City, Sabah Al-Ahmad township, Bubiyan Island, Al Khairan residential city project and the Kuwait City by 2020.
- The energy and utility construction market is expected to benefit from government plans to double the country’s water desalination capacity by 2030. The government plans to increase the country’s water production capacity from 450 million gallon per day to 900 million gallon per day by 2030.
- The government is focusing on the construction of new refineries in the country, driving growth in the energy and utilities construction market over the forecast period. The government plans to increase crude oil production from 3.3 million barrels per day (mmbpd) in 2015 to 4.0mmbpd by 2020. Accordingly, the government plans to build new oil refinery in Al Zour under the PPP model by 2020.
- Under the Kuwait Development Plan 2015–2020, the government plans to transform the country into a regional trade and financial hub by 2035. Accordingly, with an investment of KWD305.5 million (US$1.0 billion), the government plans to build the Mubarak-Al-Kabeer Seaport on Boubyan Island by 2021.
- The government is focusing on developing healthcare infrastructure to provide adequate medical support to all citizens in the country. Accordingly, under the Healthcare Infrastructure Development program the government plans to invest KWD2.2 billion (US$7.3 billion) on the construction on new hospitals and healthcare centres by 2020.
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