Kuwait Construction Market - Growth, Trends, and Forecast (2019 - 2024)

Kuwait Construction Market - Segmented by Sector (Commercial Constructions, Residential Constructions, Industrial Constructions, Infrastructure (Transportation Constructions), and Energy and Utility Constructions)

Market Snapshot

Study Period:


Base Year:



The Kuwaiti construction market is expected to register a CAGR of 6.8% over the forecast period.

Key Players:

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Market Overview

The Kuwaiti construction market is expected to register a CAGR of 6.8% over the forecast period.

  • With its Vision 2035 program, Kuwait has signaled that it is becoming more open to foreign investment. The plan includes various mega projects, including the building of a multipurpose industrial city to the tune of USD 6.6 billion.
  • The development plans hope to attract private investment because the Kuwaiti government is aiming to reduce its official contribution to projects to 30-40%.
  • Kuwait’s tax framework makes it an attractive target for foreign investment, with benefits like income tax holidays and customs-free equipment importation, the country is hoping to attract more foreign investment

Scope of the Report

The Kuwait’s construction market covers the growing construction projects in different sectors, like commercial construction, residential construction, industrial construction, infrastructure (transportation construction), and energy and utility construction.

By Sector
Commercial Construction
Residential Construction
Industrial Construction
Infrastructure (Transportation) Construction
Energy and Utilities Construction

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Key Market Trends

New Kuwait : Vision 2035

Kuwait Vision 2035 follows HH the Amir’s hopes of transforming Kuwait into a world-class financial and commercial center. The country aims to achieve this, with the private sector leading economic activities, fostering competitiveness, increasing productivity, supported by viable public institutions, while maintaining deep rooted values and the national identity. All these efforts are toward achieving a balanced economic and human development, supported by adequate infrastructure, legal framework, and also by enabling an active business environment.

Kuwait has executed projects worth more than USD 60 billion toward its Vision Kuwait 2035 strategy, and according to senior officials, a further USD 100 billion is still to be invested. Kuwait is focusing on the development and constructional activities, such as constructing of the largest port in the Middle East- the Mubarak Al-Kabeer Port, building a new passenger terminal at the Kuwait International Airport, a petrochemical complex, oil refineries, and renewable energy complexes. Kuwait thus aspires to have a low dependence on oil, replacing it with human creativity and innovation, adding that more than USD 100 billion will be invested by 2035.

Total FD

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Kuwait Development Plan (KDP) 2015-2020

The Kuwait Development Plan (KDP) 2015-2020 puts into motion the government’s broad goal of transforming the country into a regional trade and financial hub by 2035. The plan is a two-pronged strategy to push through major economic reforms to empower the private sector and implement a significant pipeline of ambitious projects over a five-year period. The KDP was initially drafted with a USD 155 billion budget for key developments and will focus on more than 500 projects to build core infrastructure, utilities and housing across Kuwait, and to expand the country’s oil and gas sector. The new plan reassigns 421 projects from the previous plan and identifies 92 new projects that will be implemented within the next five years.

One of the biggest projects under the new development plan is USD 20 billion metro rail network. The three-line system would include 61 stations and cover the entire capital.  Another key infrastructure project is the proposed KD 8 billion (USD 27.56 billion) rail network that will link Kuwait with its GCC partners through the GCC rail network.

Mubarak Al Kabeer Port on Boubyan Island is another major infrastructure project that will be financed and built under the KDP. Other key projects include the development of Madeenat Al Hareer, commonly known as Silk City; the creation of tourist attractions at Failaka Island, which is located 20 km from the coast; and the expansion of sewage and solid waste treatment facilities throughout the country. The KDP also includes funding to expand capacity at Kuwait International Airport, as upgrades have been delayed several times over the last several years. Oil and gas is also set to receive investment under the KDP. For example, Kuwait National Petroleum Company has indicated that it will invest up to USD 35 billion on expanding oil and gas projects over the KDP period.

Contracts Kuwait

Competitive Landscape

The Kuwaiti construction market is highly competitive, with the presence of major international players. The market presents opportunities for growth during the forecast period, which is expected to further drive market competition. With a few players holding a significant share, the Kuwaiti construction market has an observable level of consolidation.


Major Players

  1. JGC Corporation
  2. SNC-Lavalin
  3. Van Oord Dredging & Marine Contractors BV
  4. Fluor Corp.
  5. Hyundai Engineering & Construction Co. Ltd.

* Complete list of players covered available in the table of contents below


Table of Contents


    1. 1.1 Scope of the Market

    2. 1.2 Market Definition

    3. 1.3 Executive Summary


    1. 2.1 Study Deliverables

    2. 2.2 Study Assumptions

    3. 2.3 Analysis Methodology

    4. 2.4 Research Phases


    1. 3.1 Current Economic and Construction Market Scenario

    2. 3.2 Technological Innovations in the Construction Sector

    3. 3.3 Impact of Government Regulations and Initiatives on the Industry

    4. 3.4 Mapping of Industrial Clusters and SEZs and a Brief Analysis of Investment Opportunity

    5. 3.5 Review and Commentary on the Extent of KUWAIT's Economy Diversification

    6. 3.6 Comparison of Key Industry Metrics of KUWAIT with Other GCC Member Countries (Analyst View)

    7. 3.7 Comparison of Construction Cost Metrics of KUWAIT with Other GCC Member Countries (Analyst View)


    1. 4.1 Drivers

    2. 4.2 Restraints

    3. 4.3 Opportunities

    4. 4.4 Porter's Five Forces Analysis

    5. 4.5 Industry Value Chain Analysis


    1. 5.1 By Sector

      1. 5.1.1 Commercial Construction

      2. 5.1.2 Residential Construction

      3. 5.1.3 Industrial Construction

      4. 5.1.4 Infrastructure (Transportation) Construction

      5. 5.1.5 Energy and Utilities Construction


    1. 6.1 Market Concentration Overview

    2. 6.2 Strategies Adopted by Major Players


    1. 7.1 International Players

      1. 7.1.1 JGC Corporation

      2. 7.1.2 SNC-Lavalin

      3. 7.1.3 Fluor Corp.

      4. 7.1.4 Van Oord Dredging & Marine Contractors BV

      5. 7.1.5 VINCI

      6. 7.1.6 Jacobs Bros

      7. 7.1.7 Combined Group Contracting Co.

      8. 7.1.8 HOTECC

      9. 7.1.9 Hyundai Engineering & Construction Co. Ltd*

    2. 7.2 Local Players

      1. 7.2.1 Kuwait Contracting and Processing Co (KCPC)

      2. 7.2.2 Mushrif Trading & Contracting Co

      3. 7.2.3 Kharafi Group

      4. 7.2.4 Gulf Dredging

      5. 7.2.5 Sayed Hameed Behbehani & Sons

      6. 7.2.6 Al-Hani Construction & Trading

      7. 7.2.7 Marafie group

      8. 7.2.8 M.A.G Construction Co.*

  8. *List Not Exhaustive


    1. 9.1 Existing Infrastructure

    2. 9.2 On-going Projects

    3. 9.3 Upcoming Projects


  12. 11. APPENDIX

  13. 12. DISCLAIMER

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