Dublin, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The "Kuwait Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2028 (H2 2024)" report has been added to ResearchAndMarkets.com's offering.
The construction industry in Kuwait is expected to decline marginally by 0.6% in real terms in 2024, owing to high construction costs, political instability, budgetary cuts for several infrastructure projects, and falling project revenue projections; especially due to decline in oil export earnings.
As part of the 2024/25 Fiscal Year (FY) Budget (1st April 2024 to 31st March 2025), approved in January 2024, KWD24.5 billion ($79.7 billion) is allocated for capital expenditure, which is 6.5% less compared to expenditure of KWD26.2 billion ($85.2 billion) in FY2023/24. According to FY2024/25 Budget, tax revenue is projected at KWD18.7 billion ($60.8 billion), with revenue from the oil sector projected at KWD16.2 billion ($52.7 billion), while non-oil sector revenue is estimated to stand at KWD2.4 billion ($7.8 billion), giving Kuwait a budget deficit of KWD5.6 billion ($18.33 billion).
In May 2024, the government announced plans to freeze its National Assembly until 2028 to streamline decision-making and in turn, enhance focus on key projects and reforms without legislative interruptions. This move comes in response to opposing a project by the US based chemical producer, Dow Chemical, in November 2023, which led to a fine of KWD614.7 million ($2 billion) on the government.
Scope
- Historical (2019-2023) and forecast (2024-2028) valuations of the construction industry in Kuwait, featuring details of key growth drivers.
- Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
- Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
- Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
- Identify and evaluate market opportunities using the analyst's standardized valuation and forecasting methodologies.
- Assess market growth potential at a micro-level with over 600 time-series data forecasts.
- Understand the latest industry and market trends.
- Formulate and validate strategy using the analyst's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Key Topics Covered:
1 Executive Summary
2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 Risk Profile
4 Construction Outlook
4.1 All Construction
- Outlook
- Latest news and developments
- Construction Projects Momentum Index
4.2 Commercial Construction
- Outlook
- Project analytics
- Latest news and developments
4.3 Industrial Construction
- Outlook
- Project analytics
- Latest news and developments
4.4 Infrastructure Construction
- Outlook
- Project analytics
- Latest news and developments
4.5 Energy and Utilities Construction
- Outlook
- Project analytics
- Latest news and developments
4.6 Institutional Construction
- Outlook
- Project analytics
- Latest news and developments
4.7 Residential Construction
- Outlook
- Project analytics
- Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/zbqtca
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