BNC Report commissioned by The Big 5 Kuwait 2016 reveals ten largest projects in the country
Dubai, Sep 1, 2016 - Kuwait’s top 10 construction projects are worth almost US$12 Billion, according to a BNC Report commissioned by The Big 5 Kuwait 2016. Infrastructure developments, educational facilities and new housing projects are propelling the country’s construction industry, which is set to reach US$15.6 Billion in 2020 as recently stated by Trimetric’s Construction Intelligence Center. However, BNC’s list reveals, healthcare investments are one of the major drivers of the construction industry’s growth in 2016. Out of the top ten projects in Kuwait, six are in fact devoted to the development of new or existing hospitals, and valued approximately US$5.5 Billion.
The size of the healthcare economy in the GCC was around US$40.3 Billion in 2015, and is expected to increase at a projected rate of 12% per year, reaching US$71.3 Billion in 2020. According to BNC’s GCC Kuwait Healthcare Report 2016, 133 healthcare projects in the GCC are each worth over US$100 Million. These projects make up almost 80% of the total value of all healthcare projects in the region.
Dmg events Middle East, Asia & Africa, the organisers of Kuwait’s largest construction event, The Big 5 Kuwait 2016, released the following BNC list of the country’s Top 10 Projects, while investigating major opportunities and trends within the local construction industry:
1) Expansion of Passenger Terminal - Expansion of Kuwait International Airport (KIA) - Terminal 2.
The US$4 Billion expansion of the Kuwait International Airport’s passenger terminal stands on top of the BNC list. With completion estimated in 2022, the new terminal building will allow the airport to accommodate approximately 13 million passengers per year. The project involves the construction of a new terminal building comprising of a basement level, a ground floor, two additional floors, a 400 bed transit hotel, waiting rooms and parking areas with a capacity of 4500 cars.
2) Jaber Ahmed Al Jaber Al Sabah Hospital - South Surra.
With estimated completion in November 2016, the US$1.6 Billion project includes the construction of a hospital complex over an area of 47,000 square meters. It also features a dental building on an area of 5,000 square meters, a staff and doctor's residency building, and a 3-storey underground car park with a capacity of 7000 cars.
3) New Farwaniya Hospital Expansion - Al Farwaniya.
Valued US$1 Billion and due for completion by the end of 2019, the project involves the construction of a hospital complex, a dentistry building with 100 specialized clinics, 27 operation theaters and 233 ICU beds.
4) Childrens Hospital - Al Shuwaikh
The hospital will feature a total of 792 beds, 2,000 car parking spaces, a helipad and a free-standing day care centre. Valued US$850 million, completion is expected in the last quarter of 2018.
5) Kuwait Maternity Hospital - Sabah Medical Area
Although still at the tender stage, the US$790 million hospital is due for completion in 2018. The maternity hospital is expected to accommodate 36,000 annual births.
6) New Al Sabah Hospital (Tender No. MOH/18/2011/2012) – Shuwaikh
The US$635 million hospital currently under construction will cover an area of 88,000 square meters with a capacity of 671 beds and a multi-story parking area.
7) Cancer Treatment Hospital - Al Sabah Hospital Campus
Due for completion by the end of 2016, the US$574 million hospital will cover 200,000 square meters with program elements like Radiology, Nuclear Medicine, Chemotherapy Units, Surgical Units, Intensive Care Units, Physical Therapy Facilities, an auditorium and a car park building.
8) Special Needs Education School Complex – Hawali
The project, valued US$504 million, will develop a Special Needs School comprising 16 to 18 buildings with the capacity to accommodate 3000 students over a 22,000 square meters gross building area.
9) Tamdeen Square - Sabah Al Salem
Currently under construction, this mixed-use development worth US$500 million comprises six towers of low-to-medium-rise residential and retail complexes, as well as a high-rise building line.
10) Sabah Al Ahmad Sea City Development (Phase 5) (Al Khiran Pearl City)
Worth US$491 million, the project is developing the Sabah Al Ahmad Sea City (Al Khiran Pearl City) Phase 5, building internal and external roads, infrastructure work and related facilities by 2020.
These and other business opportunities in Kuwait will be explored during The Big 5 Kuwait 2016 show running from 25 – 27 September at the Kuwait International Fair. The event will offer in fact three days of free to addend, CPD certified workshops delivered by industry specialists on a wide range of hot topics, spanning from project management and BIM to LEED and sustainability. On the first day of The Big 5 Kuwait 2016, a seminar will provide a comprehensive overview of the Kuwaiti construction and infrastructure sectors’ performance in the current global climate. Renowned experts like Girish Dinakaran, Partner - Corporate Finance, RSM Albazie Consulting, will offer a status update on new government initiatives and key projects and investments.
According to Mr. Dinakaran, “The biggest opportunity presented by the Kuwaiti construction market is the government’s commitment to infrastructure development, followed by fast-tracking PPP projects under the Partnerships Technical Bureau (PTB) and an increasing diversity in PPP projects (i.e. schools, metro, power, rail, parks, energy and health).” Moreover, The Big 5 Kuwait 2016 speaker added, “Private investments are expected to further boost the construction sector with mega real estate development projects thanks to the current commodity prices that keep construction costs low”.
To address the growing demand of construction materials, innovative products and solutions, visitors at The Big 5 Kuwait 2016 will be able to meet new exhibitors from 24 countries including Germany, Italy, Turkey, and Kuwait. “The Big 5 Kuwait 2016 is bringing together the largest gathering of product and solution providers in Kuwait, comprising of both locally based and international companies, offering the opportunity to source solutions not available in the local market”, Ashley Roberts, Event Director of The Big 5 Kuwait 20016 said.
GCC Kuwait Healthcare Report 2016 can be downloaded HERE.
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