Despite facing numerous challenges related to time, cost overruns and the capacity to post better industry performance, the Kuwaiti construction industry is growing at a rapid pace and is projected to hit $9.19 billion by 2028, according to Verified Market Research.

The local construction market caters to a wide range of activities that cover upcoming and ongoing project developments in key sectors such as commercial, residential, industrial construction and infrastructure transportation as well as the energy and utilities sector.

Between 2022 to 2025, the Kuwaiti construction sector is expected to witness an annual average growth rate of 6%, stated the report.

When coupled with the government’s programmes to promote the development of economic zones, logistic cities, transport, and renewable energy infrastructure, the Kuwaiti construction field is estimated to post strong rebound in the post-Covid era, it added.

The industry is further buoyed and supported by reforms to diversify the economy away from hydrocarbons.

"With the right technology solutions in BIM and Construction Cloud Collaboration Solutions, companies within the construction sector can transform and innovate to become more efficient, competitive, and profitable. The current growth rate of the Kuwaiti construction market is accompanied by certain challenges that continue to stifle the industry’s performance.

Companies that intend to rise above the competition within the Kuwaiti and GCC markets need to adopt the right technology solutions. This approach alone can prove to be a game-changer, said Belal Ibrahim Hamouda, General Manager of Grand International Company (GIC).

In this regard, due to the support and service that GIC Kuwait gave to the Architecture Engineering & Construction Industry, they were awarded Autodesk Excellence Award.

The awards were announced at the Autodesk OTx (One Team Conference) in March.

The top honour emphasises GIC’s commitment towards Autodesk Business and the customers in the Architecture Engineering & Construction sector in Kuwait, stated Hamouda after collecting the award on behalf of GIC along with Regional Manager Abhilash Nair.

Kuwait is also a fast-emerging IT hub within the Middle East and GCC regions. With the country’s 2035 Vision, the nation is poised to become a financial and commercial center within the region.

The rapid development in network connectivity and increased support from government bodies in addition to high adoption of cloud, big data and IoT services have been strong drivers for the growth of Kuwait's IT industry.

Additionally, the private sector’s approach towards adopting the latest in IT solutions, particularly within the construction industry, is a strong indicator of how far the industry will go in the near future.

"For an industry to grow at an unprecedented rate, it requires strong infrastructural, government, and policy support. Kuwait has the ideal combination of all three," remarked Nair.

"Therefore, we believe that the country is on its way to becoming the financial and commercial hub within the Middle East in the years to come," he added.

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