Construction & Real Estate
From The Report: Kuwait 2015
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The Kuwaiti construction market saw a marked rebound in 2014, with the government moving forward with key developments in a number of sectors. The Public Authority for Housing and Welfare has a mandate to provide housing for 2.6m people by 2030. The country’s oil and gas sector was a major contributor to the country’s resurgence in construction projects, with oil and gas projects representing more than 60% of the $25.1bn awarded in 2014. Rising investment in real estate, meanwhile, is bolstering that sector, with the total value of transactions in 2014 increasing by nearly 40% on 2013 to reach $7.27bn.

This chapter contains an interview with Khaled Al Mashaan, Vice-Chairman and CEO, Alargan.

Articles from this Chapter

Overview

Pipeline of projects: The country is moving forward with key developments in a number of sectors
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After several years of weak performance the Kuwait construction market saw a marked rebound in 2014. Several major infrastructure developments in the transport, power and water sectors have been tendered or are in the process of being awarded. Further to this, strong economic performance and the government’s commitment to reform have sustained demand for residential, commercial and retail construction projects. In particular, the new law on public-private partnerships (PPPs) will have a transformative…

Analysis

At the core of development: Numerous large-scale construction projects have been developed in partnership with private sector players
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Kuwait’s construction sector has witnessed significant growth over the last year, as the government has approved a number of major infrastructure and development projects across key sectors. While there are concerns that some projects may be delayed, the government has taken a number of steps to help assure players in the construction industry that this wave of momentum will be sustained into 2015 and beyond. STRENGTHENING THE PIPELINE: In July 2014 the government approved a new Public-Private…

Interview

Think before you build: OBG talks with Khaled Al Mashaan, Vice-Chairman and CEO, Alargan
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Interview:Khaled Al Mashaan In what ways can the private sector help consolidate the real estate market into an alternative to the stock market for international investors? KHALED AL MASHAAN: Kuwait’s economy is largely self-sufficient and has therefore remained unaffected by events such as the global recession and regional political turbulence. There will always be a demand for housing, albeit with a short supply until public-private partnership rules are fully implemented. This should…

Overview

Back in action: Investment and commercial real estate are driving sector growth, while the residential segment is also rising in value
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In the years following the global financial crisis, Kuwait’s real estate sector is in a position of renewed strength. The residential segment, traditionally the most robust in the market, has shown signs of growth since 2012, with public and private sector players developing new offerings that cater to rising demand for housing. High per capita income levels and purchasing power have also driven growth in the retail market. In particular, demand for high-end goods has led to the development of…

Analysis

Tapping into the market: A strong start for the growing facilities management industry
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The rapid pace of development for large-scale real estate projects in Kuwait has led to increased demand for companies that can manage these facilities. In particular, owners of high-end properties are seeking support to maintain the premium brand image of their properties. While this sector is still in the nascent stages in Kuwait, a growing number of local and regional players are tapping into the market’s potential. Many Kuwaiti real estate development companies have already launched their…