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Kuwait Construction Industry 2014

August 2014 | 42 pages | ID: KA741D18C07EN
Ventures Middle East LLC

US$ 650.00

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A small nation in the Gulf Cooperation Council (GCC) in terms of geographical area with a holding of 102 billion barrels of oil reserves, Kuwait is a wealthy, oil based economy, with petroleum accounting for 50 percent of its GDP and 95 percent of its export and government revenues. A strategic member of the OPEC (Organization of Petroleum Exporting Countries), oil production in Kuwait stood at 3.3 billion barrels per day (bpd) as of 2014, with further expansions and new refineries in its strong pipeline of projects. Healthy budget surpluses have encouraged expansionary spending over the years, with diversification as its primary goal, to which, it had committed as a part of its US$ 130 billion National Development Plan (2010 to 2014).

A year after the newly formed government announced its plans to revive the planned focus on social infrastructure and a greater role of privatization and diversification, there has been a strong revival of investor and consumer sentiments, which are likely to bring about a wealth of opportunities for the construction market through the rest of 2014 and 2015.

After a minor economic slowdown between 2011 and 2013, the Kuwait economy has embarked on a strong growth path, with renewed focus on its erstwhile developmental plans. The second Kuwait Development Plan (KDP) (2010-2014) that had been launched after the success of the first one that set Kuwait on a planned growth path however, did not achieve equal success owing to the turbulent political climate that prevailed between 2011 and 2013 and is ready to hand over the baton to the current KDP 2015-2020, which promises to renew the focus on projects that had earlier been stalled or delayed. Apart from the traditional focus of the predominantly hydrocarbon based economy on energy projects, under the KDP, infrastructure was been identified as the cornerstone of growth and the building construction sector with areas such as healthcare, hospitality and affordable housing have been earmarked for developmental focus, with a greater emphasis on private participation. The KDP 2015-2020 has continued to uphold privatization and infrastructure as the cornerstones of its development agenda.

The Kuwait construction market is now set to grow at a tremendous pace over 2014 with contracts awarded to the tune of US$ 27 billion across sectors with buildings, and infrastructure the primary focus areas. After a tumultuous period of political instability, bureaucracy slowing down government projects and the adverse impact of the global economic slowdown, the economy of Kuwait is making a steady recovery with projects back on track in 2014.
EXECUTIVE SUMMARY

CHAPTER 2. KUWAIT BUILDING CONSTRUCTION SECTOR OVERVIEW

Introduction
Kuwait Building Construction Contracts Awards (2012-2015)

CHAPTER 3. KUWAIT INFRASTRUCTURE CONSTRUCTION SECTOR OVERVIEW

Introduction
Role of Public Private Partnerships (PPP) in Kuwait Infrastructure
Kuwait Infrastructure Development: Key Infrastructure Segments
Air and surface transport
Marine infrastructure
Kuwait Infrastructure Construction Contracts Awards (2012-2015)
Kuwait Infrastructure Market - Key Drivers and the Future outlook

CHAPTER 4. KUWAIT ENERGY SECTOR CONSTRUCTION OVERVIEW

Introduction
Oil and Gas segment
Organization of the Kuwait Oil and Gas Sector
Power and Water Desalination Segment
Kuwait Energy Sector Construction Contracts Awards (2012-2015)

CHAPTER 5. FUTURE OUTLOOK FOR KUWAIT CONSTRUCTION INDUSTRY 2014

Methodology
Code of Ethics
Ventures Onsite MENA Projects Database

LIST OF FIGURES

Figure 1: PESTLE Analysis - Kuwait Building Construction industry
Figure 2: Kuwait Construction Industry Budget Totals by Sector (US$ Million), 2014
Figure 3: Kuwait Construction Contractor Awards -All Sectors (US$ Million), 2012-2015
Figure 4: Kuwait Building Construction Contractor Awards (US$ Million), 2012-2015
Figure 5: Kuwait Infrastructure Construction Contractor Awards (US$ Million), 2012-2015
Figure 6: Organization of Kuwait Hydrocarbons Industry, 2014
Figure 7: Kuwait Energy Sector Construction Contractor Awards (US$ Million), 2012-2015

LIST OF TABLES

Table 1: Kuwait Macroeconomic Indicators, 2014
Table 2: Kuwait Top ongoing Building Construction Projects by Value (US$ Million), August 2014
Table 3: Kuwait Ongoing Projects in the Infrastructure Construction Sector (US$ Million), August 2014
Table 4: Kuwait Key Oil and Gas Indicators, 2014
Table 5: Kuwait Ongoing Construction Projects in Energy Sector (US$ Million), August 2014


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