There are plenty of reasons to expand your construction company to Kuwait. For one, the construction market in Kuwait has actually been growing over the past few years. Furthermore, it will continue growing due to the government’s plans to diversify income sources by investing in various industries and sectors. Of course, in order to accommodate new sectors and industries, it has to invest a lot in construction projects.
Plans for 2021 and the future?
The Kuwaiti government has allocated nearly $148bn for the development of various infrastructure projects, like subways, housing, and new roads. Furthermore, money was allocated for improving power and water supply, as well as the healthcare sector. The estimated value of the construction industry for future projects is $188bn. Because all these new projects are awaiting execution, builders will get more work in the near future. The infrastructure development plans introduced by the Kuwaiti government have attracted various construction companies, who are trying to enter the Kuwaiti market. This has made the competition for the new projects quite fierce. Contact a company that deals with vehicle shipping if you intend to transport your trucks or personal vehicle to Kuwait.
What kind of projects are good if you want to expand your construction company to Kuwait?
The construction industry is going to boom in the next few years, according to the projections. The reason behind this is all the mega projects that are currently on their way are expected to be executed. Included in these projects is the development of the education sector. This includes the building of new schools and universities to accommodate the growing population, and their estimated worth is $10bn. Besides this, there is the project of developing the new Kuwait Airport, which is currently running and worth about $698m.
Several huge projects for the construction of new electricity generators also exist. They are aiming to connect them to the highly advanced electrical grid, and the project’s worth is around $17bn. Furthermore, the health sector is getting a boost with the construction of new hospitals. Additionally, there are plans for the construction of 8000 housing units. Both of these have the common aim of accommodating the growing population needs. If you find this information appealing then search for heavy equipment movers to relocate all of your equipment to Kuwait.
The New Kuwait vision 2035
Projects worth more than $60bn have been executed by Kuwait toward its Kuwait Vision 2035 strategy. More than $100bn is still to be invested, according to senior officials. The construction activities, development, and programs that will be creating more opportunities for contractors are a major focus point of Kuwait. The $20bn metro rail network is one of the biggest projects under the new development plan. The system would include 3 lines and 61 stations covering the entire capital. Besides this one, there is a $27,6bn key rail network project which aims to link Kuwait and its GDC partners through the GDC rail network.
Mubarak Al Kabeer Port on Boubyan Island represents another major infrastructure project. It is to be financed and built under the KDP. The uninhabited island has a land area of some 850 sq km and sits at the mouth of the Tigris river. Another key project includes the development of Madinat al-Hareer, also known as Silk City. It will have 4 distinct quarters, Finance City, Leisure City, Ecological City, and Residential City. Meeting the highest global standards was in mind when designing these quarters. with a special focus on cultural and educational amenities. If you are sold on getting to Kuwait then get properly packed. Moreover, there is a plan to construct some tourist attractions on Failaka Island, which is 20km (12 miles) away from the coast.
This project hopes to transform Kuwait into a world-class financial and commercial center. Infrastructure development plans and new projects awaiting execution have given chance to several construction companies to enter the smart city construction programs. Furthermore, clients of construction projects are becoming more educated about the construction industry, which in turn makes them more demanding. They have been very insistent on having high-quality results for their projects.
Take notice of the legal system when you expand your construction company to Kuwait
When it comes to the legal system in Kuwait, it is very slow in terms of construction disputes. Additionally, the number of different parties involved in most construction projects can result in a high risk of conflict. Not sorting these issues out promptly, could grow them into arguments that can take years to resolve. Construction is the most litigious industry in the State of Kuwait, which can also be said for other countries. Improving the way in which you resolve disputes in Kuwait, could greatly reduce expenses and wastage. One of the things that can be done in a dispute is to involve senior officials as soon as possible. Improper escalation of these issues can give rise to disputes. Therefore, by escalating these issues, there may be a higher chance of resolving them.
Final words on expanding your construction business to Kuwait
Evidently, there are a lot of construction projects that are either started or are still being planned in Kuwait. Even though large construction companies already handle some projects, a lot of them are still unassigned. This leaves you with a great opportunity to expand your construction company to Kuwait and win a project or join the other companies in megaprojects. However, be vigilant when working on a megaproject, as there is a high chance of a dispute arising. In the case that it does start, make sure to instruct your employees to report the issue to you. If you need to ship some of your worker’s belonging, contact EasyMove KW to handle this process for you.