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Kuwaiti construction industry's value to reach $2.99bn

02 Jul 2009

Kuwaiti construction industry's value to reach $2.99bn
Over the next four years, the value of the construction industry in Kuwait will increase to 860 million Kuwaiti dinar ($2.99 billion), it has been predicted.

According to the BMI infrastructure reports for the first quarter of the year, this is up from the 710 billion Kuwaiti dinar that the sector is currently valued at, reports companiesandmarkets.com.

While growth is expected in the sector, the rate of expansion is likely to slow, the study suggested.

The construction industry in the Gulf nation grew by 3.51 per cent and 2.67 per cent in 2007 and 2008 respectively.

"One area of Kuwait's construction industry that is experiencing growth is the sector's percentage of gross domestic product, which is expected to increase from 1.59 per cent in 2008 to 2.1 per cent," the online portal suggested.

Last month, Moody's annual credit analysis in Kuwait assessed the country's economic strength and found it to be very high, reports the Arab Times. ADNFCR-1127-ID-19247404-ADNFCR

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