Aided by elevated oil revenue and the resumption of economic activity after the Covid-19 pandemic, Kuwait was able to narrow its budget deficit for FY 2021/22 year and record GDP growth in excess of 8% in 2022. With a newly elected Parliament in place and a new Cabinet appointed, there is renewed hope that the country will undertake the reforms needed for long-term economic growth and diversificat
– Building and construction industry accounts for 38% of energy-related carbon emissions – Gulf countries are among those with the highest ecological footprint – Major projects such as the Dubai Urban Master Plan and Masdar City highlight the region’s progress – Continued investment needed to meet future sustainable construction goals As industries around the world increasingly turn…
On infrastructure priorities and project frameworks To what extent has Covid-19 impacted the construction sector in Kuwait? MOHAMMED HAMAD AL GHANIM: The first lockdown in Kuwait effectively shut down construction activity for four months. Since then, we have continued to work to recoup lost time. The industry is now beginning to grasp how this event will continue to impact supply chains as they…
Urbanisation is a mega-trend redefining contemporary life in both developed and emerging markets across the world. This mass rural-to-urban movement of people and expansion of cities to absorb formerly isolated villages is a relatively recent phenomenon, at least in the developing world. According to the UN, in 1950, 751m people lived in urban areas; however, by 2018 this number had risen to…
Major infrastructure works – from roads and schools to airports and hospitals – are either under way or in the design phase in Kuwait, highlighting the significant activity seen in the construction sector in recent years as the country works towards the goals outlined in the New Kuwait 2035 development plan. Perhaps the most ambitious of these projects is the 700,000-inhabitant Silk City mega-development…
From 206 BCE to 220 CE, China’s Han dynasty fostered a booming trade industry for silk, a precious commodity in high demand among the elites of the Mediterranean. The Silk Road was the name given to the network of trade routes connecting the East and West at the time. Later, spices and other precious cargo would be traded using the system, fostering not only economic, but also cultural links…
Major infrastructure works – from roads and schools to airports and hospitals – are either under way or in the design phase in Kuwait, highlighting the significant activity seen in the construction sector in recent years as the country works towards the goals outlined in the New Kuwait 2035 development plan. Perhaps the most ambitious of these projects is the 700,000-inhabitant Silk City…
From 206 BCE to 220 CE, China’s Han dynasty fostered a booming trade industry for silk, a precious commodity in high demand among the elites of the Mediterranean. The Silk Road was the name given to the network of trade routes connecting the East and West at the time. Later, spices and other precious cargo would be traded using the system, fostering not only economic, but also cultural links…
The New Kuwait 2035 vision aims to deploy the nation’s oil wealth to diversify the economy. The private sector is vital to this, with partnerships and privatisation, improvements to the business environment, and efforts to attract foreign direct investment (FDI) and harness knowledge from abroad all being key moves. Kuwait seeks to attract $200bn in FDI during 2020-35 to become a global centre f
Major infrastructure developments are driving Kuwait’s construction sector, as large-scale projects are either nearing completion or gaining renewed momentum. As such, planners are looking to the sparsely populated northern area of the country – commonly known as the Northern Gateway – for the implementation of mega-developments that will require significant political, and public and…