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Kuwait Infrastructure Report Q1 2009 (Business Monitor International)
- Market: Construction
- Published Date: 14/01/2009
- Report Title: Kuwait Infrastructure Report Q1 2009
- Table of Contents: View Table of Contents
- Report Type: Market Report
- Country: Kuwait
- Number of Pages: 68
In time for the launch of BMI’s infrastructure Q109 reports we have revised our construction data. The data has been modified from 2008 onwards. This initiative stems from new methodology being introduced in our forecasting method and aims to increase the relevance and reliability of BMI’s infrastructure data. BMI strives to be able to offer five year industry forecasts and we are happy to announce that the infrastructure data for Kuwait now stretches to 2013.
For 2009 BMI forecasts that Kuwait’s construction industry will be worth KWD0.71bn (US$2.65bn), although growth is slowing in the sector, the construction industry’s value is set to reach KWD0.86bn (US$3.44bn) in 2013. The country’s construction industry growth is down from previous years, whilst in 2007 and 2008 the sector grew by an estimated 3.51% and 2.67% respectively this figure is expected to slip to 2.28% before falling further to 1.03%. Kuwait’s construction industry growth will recover slightly at the end of the forecast period with constriction growth registering 1.60% in 2013. One area of Kuwait’s construction industry that is experiencing growth is the sector’s percentage of GDP, which is expected to increase from 1.59% in 2008 to 2.10% in 2009 BMI believes that the construction sector, not just domestically in Kuwait, but worldwide will be buffeted by the global economic downturn and will lead to investors tightening their belts, leaving less money to go towards funding infrastructure related projects, especially those in the real estate sphere. This could see a serious decline in the number of companies available to participate in Private Public Partnership (PPP) projects, which will lead to delays and in some case cancellations of proposed infrastructure schemes.
In relation to Kuwait, BMI has no news of specific projects that may be affected by the downturn, with the information that is currently available to us we assume that some of the large infrastructure initiatives launched in 2008, such as huge residential and commercial construction project the City of Silk or the planned metro system for Kuwait City will go ahead.
For 2009 BMI forecasts that Kuwait’s construction industry will be worth KWD0.71bn (US$2.65bn), although growth is slowing in the sector, the construction industry’s value is set to reach KWD0.86bn (US$3.44bn) in 2013. The country’s construction industry growth is down from previous years, whilst in 2007 and 2008 the sector grew by an estimated 3.51% and 2.67% respectively this figure is expected to slip to 2.28% before falling further to 1.03%. Kuwait’s construction industry growth will recover slightly at the end of the forecast period with constriction growth registering 1.60% in 2013. One area of Kuwait’s construction industry that is experiencing growth is the sector’s percentage of GDP, which is expected to increase from 1.59% in 2008 to 2.10% in 2009 BMI believes that the construction sector, not just domestically in Kuwait, but worldwide will be buffeted by the global economic downturn and will lead to investors tightening their belts, leaving less money to go towards funding infrastructure related projects, especially those in the real estate sphere. This could see a serious decline in the number of companies available to participate in Private Public Partnership (PPP) projects, which will lead to delays and in some case cancellations of proposed infrastructure schemes.
In relation to Kuwait, BMI has no news of specific projects that may be affected by the downturn, with the information that is currently available to us we assume that some of the large infrastructure initiatives launched in 2008, such as huge residential and commercial construction project the City of Silk or the planned metro system for Kuwait City will go ahead.
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