The Public Authority for Housing Welfare (PAWH), responsible for building towns, neighbourhoods and homes for Kuwaitis, is spending almost KD1bn ($3.3bn) per year on new developments, aiming to hand over 36,000 residential plots in 2017. Generous government-backed instalment loans are being extended to enable citizens to build homes on their...
Property development, sales and rentals play a significant role in Kuwait’s economy, and home ownership is set to grow as new cities are built to accommodate a growing population. Landlords in the office, retail and industrial sectors enjoy high occupancy levels and there has been extensive development of rented residential properties for the...
Kuwait has a small retail sector compared to larger GCC markets like the UAE and Saudi Arabia, but consumers are quickly catching up with their regional peers in their tastes and demand for international food, brands and shopping experiences.
As Kuwait tries to curb its dependency on hydrocarbons, which accounted for over 90% of state revenues in 2017, other industries are coming into focus. Excluding refined petroleum products and nuclear fuel, manufacturing industries’ contribution to GDP rose by 6.2% in 2017 to KD1.7bn ($5.6bn), according to the central bank. This figure has...
What opportunities exist for the private sector to invest in value-added activities in downstream that enhance steel’s contribution to the economy?
The GSMA, an international industry trade body, forecasts that 14% of the world will have adopted 5G technology by 2025, led by the US with an adoption rate of 49%. However, Kuwait has frequently punched above its weight in the adoption of telecoms technology and enjoys some of the world’s highest mobile penetration rates. In line with its...