There are over $290 Billion worth of active construction projects in Kuwait. The construction market in Kuwait was valued at $11.2 billion in 2021 and is expected to achieve an annual average growth rate (AAGR) of over 3% from 2023 to 2026.
The industry's expansion will be supported by the Kuwaiti government's programs promoting the development of transportation and renewable energy infrastructure.
Additionally, the country's prioritization of economic diversification away from its dependence on hydrocarbons will bolster growth in the construction market in Kuwait. To that end, Kuwait is looking to diversify its oil-rich economy, and the construction sector is poised to benefit from this initiative.
Worth of Projects
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Awarded Contracts last year
As part of its strategy for economic diversification and development, Kuwait's Vision 2035 includes ambitious infrastructure plans, such as the creation of new islands, ports, and cities, that are expected to generate up to 400,000 jobs.
Kuwait's long-term goal is to reduce its dependence on oil and foster an environment of human creativity and innovation. The country aims to invest more than US$100 billion by 2035 in support of these objectives.
There are many upcoming projects in Kuwait and you can track them on Ventures ONSITE, a construction tracking and intelligence portal. The platform provides comprehensive information about ongoing and upcoming construction projects in Kuwait. Ventures ONSITE's team of researchers and data analysts actively monitor and update the database to ensure users have access to the latest information about construction projects in Kuwait.