Kuwait's 10 Contracting Companies Implement 17 Billion Dollars Of Projects

According to MEED magazine, there are around 17 billion dollars worth of projects being implemented in Kuwait by 10 contracting companies.

In this year's ranking of contracting companies, Syed Hamid Behbehani & Sons Company ranked first with contracts valued at $3.4 billion, followed by two other local companies: Ahmadiyya Contracting and Trading Company with $2.6 billion and Mohammed Abdul Mohsen Al-Kharafi & Sons Company with $2.1 billion, according to a local Arabic daily.

Al-Hani General Trading and Contracting Company and Al-Ghanim Trading and Contracting Company followed in sixth and seventh places respectively, with 1.2 billion each, followed by Limak Turkish Company in fourth place with contracts under execution worth 1.7 billion.

In addition, eight, ninth and tenth-ranked local companies, Badr Al Mulla & Brothers Company, Al Ghanim and Jabour Company, received contracts worth $1.1 billion each.

MEED stated that the Kuwaiti construction market has maintained its performance over the past three years, with contract awards reaching $2 billion in 2019 and 2020, and rising to $3 billion by 2021. This is a reduction from the awards in 2017 and 2018 of 3 and 5 billion dollars, respectively.

Consequently, we see that market pressure will be applied due to a shrinking size of awards as a result of these old projects being completed."

According to the publication, the Turkish company Limak is the most active international firm as it is working on the construction of the new Kuwait International Airport terminal worth $1.7 billion. Other than Limak, the top ten are all Kuwaiti firms, indicating that international companies are less interested in the Kuwaiti market.

Sources stated that Kuwait's position may change if it becomes able to embark on major projects such as its completion of the railway network in the Gulf Cooperation Council countries.

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