Newsletter: Kuwait Economy & Projects Update Issue 17 — Download Now

We are pleased to share Issue 17 of our quarterly newsletter, "Kuwait Quarterly Newsletter: Economy & Projects Update. “This edition covers macroeconomic indicators, financial market trends, and key developments across major sectors up to Q1 2026. 

Key developments highlighted in Issue 17 are as follows:
 

  • Record growth in contract awards: Despite a regional slowdown, Kuwait recorded robust growth in contract awards, reaching USD 8.10 billion in Q1 2026, the highest quarterly level since Q1 2021. This marks a 5.5x year-on-year increase and the strongest growth among GCC countries.
  • Improving procurement pipeline: Kuwait's pre-execution projects increased to USD 133.05 billion in Q1 2026, showing a strong structural shift away from early-stage studies toward more advanced stages, including Design, FEED, and Pre-qualification.
  • Major power and water upgrade plans: Kuwait's Ministry of Electricity, Water & Renewable Energy (MEWRE), through KAPP, plans to launch 115 upgrade tenders in the 2026-2027 fiscal year across six power generation and water desalination plants, including Doha, Subiya, and South Zour.
  • Grand Mubarak Port Phase 2 milestone: Kuwait and China have signed a major KD 1.219 billion (USD 4.1 billion) agreement with China Communications Construction Company to develop quay walls, container terminals, and infrastructure for Phase 2 of the Grand Mubarak Al-Kabeer Port.
  • USD 1.5 Billion oil pipeline awards: Kuwait Oil Company (KOC) awarded four major pipeline packages worth a combined USD 1.46 billion to local contractors (MECC, Heisco, and Combined Group) to support its long-term strategy to expand crude infrastructure.
  • Major drainage infrastructure initiative: The Ministry of Public Works (MPW) set a 21st April deadline for a major KD 222 million (USD 718 million) tender to develop rainwater drainage and stormwater networks across residential areas such as Sabah Al Ahmad and Al Khairan.
  • Shuaiba oil pier subcontract: Gulf Dredging & General Contracting Company (a subsidiary of Heisco) secured a USD 172 million subcontract covering civil, marine, and mechanical works for the South Arm facility expansion at the Shuaiba oil pier.