Fast Market Research

"Construction in Kuwait - Key Trends and Opportunities to 2017" Is Now Available at Fast Market Research

New Construction market report from Timetric: "Construction in Kuwait - Key Trends and Opportunities to 2017"

 
Repost This

Boston, MA -- (SBWIRE) -- 03/03/2014 -- The Kuwaiti construction industry recorded a CAGR of 7.50% during the review period (2008-2012). Cash surplus from oil and gas revenues allowed the government to make concessions and provide subsidies, which helped it to avoid the civil uprisings that have affected much of the Arab region. However, the government is trying to lower the country's reliance on oil revenues and announced a KWD39 billion (US$130 billion) National Economic Development Plan for 2010-2014, with the aim of diversifying the country's economy. Subsequently, significant investments are being made to improve the country's transport infrastructure and increase participation in the private sector; although progress has slowed due to excessive bureaucracy and corruption. The industry's output is expected to record a CAGR of 4.94% over the forecast period (2013-2017).

View Full Report Details and Table of Contents

Report Highlights

- The construction industry in Kuwait is set to thrive, due to new projects from the private sector and an increase in demand for residential, commercial and infrastructure activity. A number of large projects are currently planned or underway, accounting for a total of KWD52.6 billion (US$188 billion). The following projects are likely to be completed over the next six to seven years: the government's ongoing metro project at KWD1.9 billion (US$7 billion), Kuwait International Airport at KWD0.9 billion (US$3.3 billion), a motorway construction project at KWD1.7 billion (US$6.2 billion) and the Subiya causeway at KWD0.7 billion (US$2.6 billion).
- According to the National Bank of Kuwait (NBK), the real growth of GDP, in terms of oil production, slowed from 6.1% in 2012 to 3.2% in 2013, whereas the growth of non-oil GDP increased from 4% in 2012 to 4.7% in 2013. Kuwait is small, but has emerged as the second-wealthiest nation in the Gulf Corporation Council (GCC), with a per capita GDP of around KWD51.5 billion (US$184 billion). The country accounted for 7% of the total world reserves, with crude oil reserves of 104 billion barrels in 2012. In 2010, the Kuwaiti government introduced the National Economic Development Plan 2010-2014 to diversify from oil reserves and increase participation in the private sector. The plan is expected to allocate KWD36.4 billion (US$130 billion) to the development of residential, infrastructure, commercial and industrial markets.

Companies Mentioned in this Report: Combined Group Contracting Company KSCC, Kharafi National, Heavy Engineering Industries and Shipbuilding Company KSC, Mushrif Trading & Contracting Co., Mohammed Abdulmohsin Al-Kharafi & Sons Company

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Construction research reports at Fast Market Research

You may also be interested in these related reports:

- Construction in New Zealand - Key Trends and Opportunities to 2017
- Construction in the UAE - Key Trends and Opportunities to 2017
- Construction in Colombia - Key Trends and Opportunities to 2017
- Construction in Germany - Key Trends and Opportunities to 2017
- Construction in Venezuela - Key Trends and Opportunities to 2017
- Construction in Austria - Key Trends and Opportunities to 2017: The Austrian construction industry's output is expected to record a CAGR of 3.48% between now and 2017
- Construction in South Korea - Key Trends and Opportunities to 2017
- Construction in Bulgaria - Key Trends and Opportunities to 2017
- Construction in Argentina - Key Trends and Opportunities to 2017
- Construction in Mexico - Key Trends and Opportunities to 2017