Kuwait infrastructure to grow by 20% in 2015
by Neha Bhatia
Kuwait's infrastructure sector is forecasted to grow by up to 20% in 2015, a new report has claimed.
Government plans to develop new rail links and upgrade roads, seaports and airports will lead to increased construction activity in Kuwait.
Over a thousand government-funded residential units, to be delivered by 2020, will also boost the country's infrastructure, despite fledgling oil prices and increased costs of raw materials.
Alpen Capital's GCC Construction Report, published in June 2015, found infrastructure in Kuwait will grow by between 15% and 20% this year, with Kuwait aiming for greater integration with the GCC.
Kuwait's construction industry is forging ahead with several large infrastructure projects, with planned developments worth an estimated $123.6bn, outpacing Qatar ($113.8bn), Oman ($29.6bn) and Bahrain ($25bn).
The Kuwaiti government also plans to employ a public-private partnership model to deliver public housing, including 11,000 units under the Sabah Al Ahmad project, which will house up to 100,000 people upon completion, the report added.