Construction Sector Highlights

Construction Sector Analyses

Kuwait's property market sees sustained growth

Kuwait’s construction and real estate sectors rebounded in the years preceding the Covid-19 pandemic following the 2017 unveiling of New Kuwait 2035, the government’s overarching development blueprint, heralding an extensive infrastructure pipeline. This sparked growth in construction activity, and saw a host of new residential and commercial properties enter the market.

Mazen Hawwa, Vice-Chairman and Group CEO, United Real Estate Company (URC)

The priority for a private real estate development company is to maintain the client’s trust and deliver on business agreements, and safeguard shareholders’ interests while preserving the required financing and liquidity to continue operations successfully. As a result of the pandemic, the market experienced a shift in client preferences related to lifestyle and environmental concerns. In particular, a link has evolved between real estate...

Construction industry prioritising sustainable architecture

As the construction industry redefines its priorities to ensure sustainability, there is increasing recognition of the benefits of regenerative architecture as a means of lowering emissions. According to the “2019 Global Status Report for Buildings and Construction” published by the UN Environment Programme (UNEP), the construction sector accounts...

Regulatory reforms in Saudi Arabia present opportunities for property owners

he Saudi real estate and construction sectors have been experiencing a period of rapid expansion due in part to a string of giga-projects and an economy rebounding from the pandemic. Indeed, the Kingdom is currently engaged in some of the largest construction projects in the world, including NEOM, the $500bn new city in the north-west, and developments on the Red Sea coast and in the capital city, Riyadh.

How Saudi Arabia is reimagining urban design

The country is undertaking one of its most extensive construction projects to date, which is expected to transform the Kingdom’s north-west and set a benchmark for the future of smart city development worldwide. Located in Tabuk province, close to the Jordanian and Egyptian borders, NEOM will span the Red Sea coast with mountains, deserts and plains, and aims to use smart city technologies to achieve sustainable living and zero carbon...