Fifteen Kuwaiti firms win KD 1.03 billion in contracts by 2024-end
Fifteen local companies and their subsidiaries listed on the Kuwait Stock Exchange secured 65 contracts over the past year, reflecting a 35% decline from the KD 1.58 billion recorded in 2023.

• Out of fifteen, thirteen contracts were awarded in the first quarter of 2024, with a total value of KD 93.5 million, representing over 9% of the total contracts. The second quarter saw 13 contracts worth KD 369 million, accounting for about 35.8% of the total.
Kuwaiti companies listed on the stock exchange and their subsidiaries secured tenders and contracts worth KD 1.03 billion by the end of 2024, marking a 35% decrease from the KD 1.58 billion in 2023, as reported by Al Anbanewspaper.
Statistics prepared by the newspaper revealed that fifteenlisted companies and their subsidiaries secured 65 contracts over the past year.
Of these, thirteen contracts were awarded in the first quarter, with a total value of KD 93.5 million, representing approximately 9% of the total contracts. The second quarter saw 13 contracts worth KD 369 million, accounting for about 35.8% of the total.
In the third quarter, 21 contracts were recorded, valued at KD 360 million, representing 34.9%, while the fourth quarter included 18 contracts with a total value of KD 212.5 million, making up 20.2% of the overall contracts.
Bayut Investment Group secures record KD 138 million contract in Q3
The largest contract was awarded to Bayut Investment Group during the third quarter for KD 138 million, ranking first in terms of value. This project involves providing logistics services over three and a half years in partnership with an American company for $450 million (equivalent to KD 138 million) through Kuwait Resources House Company, which is 99.5% owned by Bayut Group.
Al Safin secures contract worth KD 136.6 million
In second place was a contract secured by Al Safin for KD 136.6 million. This project involves modernizing and extending the lifespan of boilers, as well as replacing the control systems for boilers, steam turbines, and auxiliaries across eight units at the Al-Zour South Power Generation and Water Distillation Plant. In third place was a construction contract awarded to the joint group, valued at KD 103 million.
Al-Musharka tops 2024 with KD 397 million in contracts
Regarding the ranking of companies with the highest number of contracts won in 2024, Al-Musharka ranked first in terms of contract value among stock exchange-listed companies and their subsidiaries.
The company secured 18 contracts worth a total of KD 397 million, representing 38.3% of the total contract value. It was followed by Seven, which won 14 contracts valued at KD 279 million, accounting for approximately 26.9% of the total. Bayut ranked third, winning four contracts worth KD 147 million, or 14.2% of the total.
Napesco came in fourth place, securing four contracts worth KD 56 million, representing 5.5% of the total value, followed by Al-Khussiya, which won seven contracts valued at KD 46 million, making up 4.4% of the total.
Construction contracts rank highest in value in 2024
The statistics revealed that construction contracts ranked highest in value during 2024, amounting to KD 318 million, or 30.7% of the total. This was followed by logistics contracts, valued at KD 261 million (25.2%), and oil contracts at KD 220.5 million (21.3%).
Electrical contracts accounted for KD 152.1 million (14.6%), service contracts totaled KD 65 million (6.2%), and agricultural contracts were valued at KD 19 million (1.8%).
The value of external contracts secured by Kuwaiti companies totaled KD 79 million across seven contracts, the majority of which were construction contracts awarded to the Joint Group and Bayut Company.