Infrastructure development remains a key focus area for Kuwait to address widening gaps, meet requirements of the future generations and, ultimately, achieve the national aspirations articulated through Kuwait Vision 2035, despite the slowdown in awarding and implementation of projects due to strain resulting from institution- and market-related factors.
As per MEED, the value of projects awarded in Kuwait in 2022 fell to USD 2.8bn, which is well-below the previous five years’ average of USD 5.6bn. The Kuwait Government’s planned capital expenditure under the general budget for FY2023–2024 is also set to reduce to USD 7.8bn from USD 9.5bn allocated in the previous budget. However, the existence of a strong pipeline of projects, with an estimated value of USD 27.6bn in the bidding stage is setting a tone of optimism for the infrastructure sector.
In the past, we have identified trends that are reshaping the face of infrastructure and this remains our goal as we publish the eleventh edition of Emerging trends in infrastructure.
With the intention of providing Kuwait-centric insights from industry leaders engaged in various facets of Kuwait’s infrastructure sector, we have conducted exclusive interviews with a few business leaders in Kuwait. I offer my sincere thanks to these gentlemen for taking the time to participate in the publication and making it more valuable. I am also grateful to everyone who helped bring this report to reality.
I hope this edition of Emerging trends in infrastructure — The Kuwait Perspective inspires you to look at the opportunities and challenges in the sector through a new lens.
