Kuwait plans construction projects worth US$2.7 billion

The skyline in Kuwait city (Photo: AdobeStock)

Kuwait is reported to have approved nearly 837 million Kuwaiti dinars (US$2.76 billion) for 110 projects that are planned to begin in the fiscal year 2023-2024.

Arabic language daily Alqabas newspaper has reported that 55 of those projects would be launched in 2023.

The 55 projects said to be undertaken in 2023, covering construction, services and other sectors, have a combined value of around KWD 264 million (US$871 million), with Alqabas adding that construction projects this year are worth around KWD 235.2 million (US$775.5 million).

The paper also said, citing a Finance Ministry document, that the construction industry would receive around 311 million Kuwaiti dinars (US$1.03 billion) of allocated funds.