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Kuwait Real Estate Sector Research Highlights

Kuwait Real Estate Sector Research Highlights
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Kuwait’s construction and real estate sectors are significant contributors to the country’s economy, propelled by government initiatives, private investment and the country’s robust oil wealth. New Kuwait 2035, the country’s long-term plan for economic diversification and sustainable growth, elevates the sectors’ importance with the intention of increasing the quantity and quality of infrastructure…

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High global oil prices have enabled Kuwait to maintain a trade surplus despite the domestic political changes observed in recent years, measuring a GDP growth of 8.9% in 2022. Although 2023 saw the country’s GDP contract by 0.6% amid global headwinds, diversification efforts guided by New Kuwait 2035, new infrastructure developments in and beyond the hydrocarbons sector, and a push for privatisa

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The Report: Kuwait 2022: Construction & Real Estate
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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, which heralded an extensive infrastructure pipeline. This sparked growth in construction activity, and saw a host of new residential and commercial properties enter the market.In spite…

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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

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