Home Construction Kuwait construction projects valued at $494bn in Q2 2019

Kuwait construction projects valued at $494bn in Q2 2019

Kuwait has construction projects valued at $494.1bn at various stages of development, with The Secretariat of the Supreme Council for Planning and Development (SCPD) and Kuwait Authority for Partnership Projects (Kapp) being the country’s top developers, while South Korea’s Hyundai Engineering and Construction Co and UAE-founded Petrofac are among Kuwait’s top five contractors. 

Of the $140.9bn projects under construction in Kuwait, schemes worth $62bn are in the oil and gas sector, while urban buildings ($48.1bn), and infrastructure ($30bn) make up the rest of the value. 

Construction projects worth $15.5bn are on hold in Kuwait, while schemes respectively worth $63bn, $243.5bn, and $31.2bn are at the planning, design, and tender stages.  Upcoming construction projects in Kuwait are cost at $337.7bn, according to report data in June 2019.

Of this figure, USD $40.4billion are oil and gas projects, $51.9billion are infrastructure developments, and $245.4billion are urban buildings.

The Secretariat of the SCPD has projects worth $125bn, followed by Kapp ($50.5bn), Kuwait National Petroleum Co ($45.8bn), Kuwait’s Ministry of Public Works ($30.2bn), and Kuwait Oil Company ($23.7bn). 

With its project kitty cost at USD $16billion, Hyundai ranks as Kuwait’s top contractor according to report, followed by Petrofac ($12.1bn), Mohammed Abdulmohsin Al Kharafi & Sons Co ($9.7bn), Fluor Corporation ($8bn), and SK Engineering & Construction ($6.7bn).

uor is also ranked as Kuwait’s top construction consultant with a portfolio of $30bn in the sector, followed by Gulf Consult ($15.6bn), Amec Foster Wheeler ($14.8bn), Parsons ($8.2bn), and SSH ($7bn).

contracts worth $3.9bn would be awarded for Kuwait construction projects in Q3 2019, of which $2.78bn will relate to the oil and gas sector.

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