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Construction in Kuwait Key Trends and Opportunities to 2017:New Industry Analysis Report
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).