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Kuwait’s construction industry valued at $234.4bn

At present, Kuwait’s construction sector has 722 active projects worth a combined estimated value of $234.4bn, according to research published by dmg events

Kuwait’s construction sector is worth an estimated $234.4bn.
Kuwait’s construction sector is worth an estimated $234.4bn.

Government efforts to increase oil production have had a positive effect on Kuwait’s construction sector, according to research published by dmg events Middle East, Asia & Africa.

The study found that, at present, the country has 722 active projects worth a combined estimated value of $234.4bn (KWD71.5bn).

The researchers noted that the market appears to be growing at a steady pace, with the majority of government funding focussed on infrastructure, utilities, and housing as part of Kuwait Development Plan 2020.

Officials have committed $155bn (KWD47.3bn) of funding for the initiative.

The research was published by dmg events in the lead-up to The Big 5 Kuwait 2017.

The exhibition will take place from 25-27 September at Kuwait International Fair.

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Construction Week - Issue 754
Nov 23, 2019