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Kuwait Government earmarks $68.9bn for development expenditure as preparations underway for largest construction event
August 2, 2016, 5:55 pm
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With planned developments worth an estimated $123.6 billion, according to MEED, and $68.9 billion government construction budget for 2016, Kuwait’s construction industry offers massive business opportunities. The Big 5 Kuwait 2016, taking place from 25 – 27 September at the Kuwait International Fair, will host over 200 local and international exhibitors across 4,700 sqm of space, where thousands of certified products will be introduced from 24 countries. 

Last year, The Big 5 Kuwait grew by 21% across all participants, with a 43% growth in international exhibitors. Ashley Roberts, Event Director of The Big 5 Kuwait, said: “These figures are a clear sign of the show’s success and they are set to grow even further in 2016 as we will bring the best of The Big 5 show to Kuwait tailoring our 36 years’ experience to the needs of the local construction industry.”

The latest trends, findings, insights and issues in the sector will be discussed at The Big 5 Kuwait in free-to-attend CPD-certified workshops delivered by industry experts from DLA Piper, KEO International Consultants, Kuwait Oil Company and many more. Moreover, the ‘How to Trade in Kuwait’ seminar will offer useful tips and information to tap into the Kuwait market and effectively conduct business. Mr. Roberts added: “Today, The Big 5 Kuwait is an unmissable event for all industry players interested in the huge business opportunities that Kuwait has to offer.” 

The construction industry in Kuwait is expected to grow at a compound annual growth rate of 6.44% from 2016 to 2020, says a report by Timetric. This is due to the government developing projects in areas including rail, infrastructure, road, and airport under its Vision 2035 programme.

To address growing demand, visitors to The Big 5 Kuwait will be able to meet new exhibitors from 24 countries including Germany, Italy, Turkey, Kuwait and many others. This year also sees a Serbia exhibit for the first time. Visitors will have the opportunity to source new certified products and review existing ones, compare prices and meet suppliers.

Recently, the Kuwaiti construction sector has profited from the New Direct Investment Promotion law which addressed flaws in the previous system, encouraging the creation of new, large companies in the country. Mr. Roberts, commented: “The sector is now benefitting from the government’s initiative to develop the public private partnership (PPP) model.

“To leverage the fresh momentum experienced by the Kuwaiti market, our event will highlight advanced solutions and products for the local construction sector. Following three hugely successful editions, we are developing the event to ensure that The Big 5 Kuwait maintains its position as the leading event for the construction community in Kuwait.”

The Kuwait government’s 2035 economic vision comprises five separate five-year plans that aim to reduce oil dependency by transforming Kuwait into a diversified commercial and financial hub. The latest plan (2015-2020) sets aside $116bn for a broad range of projects including 45,000 new housing units, a metro and railway system and a new refinery.

With an investment of $7bn, the 171.0km Kuwait Metro Rail is due for completion by 2020. The government also plans to start construction work of the Kuwait National Rail Road System, a long-distance railway project, under the five-year development program 2015-2020. The government is expected to complete the projects by 2018 at a cost of $10bn.

The Big 5 Kuwait will capitalise on the opportunities such a high level of investment will create, giving visitors access to thousands of innovative products, knowledge and new contacts that will help them drive their business forward.

Also, a free-to-attend Sustainability Day will offering strategic insights on the topic and highlighting best practices and opportunities for industry players, will take place on the final show day (27 September 2016).

This year’s The Big 5 Kuwait runs from 25 – 27 September 2016 at the Kuwait International Fair. Invite your colleagues to join you at the show for a chance to win access to our exclusive Platinum Club Lounge onsite. This VIP area offers free refreshments and a private space to relax and network with our Club members – high level construction buyers. Five winners for our Recommend a Colleague competition will be announced on 20 September 2016, details here www.big5kuwait.com/visit/recommend-your-colleague/

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