Kuwait looks to spend US$100bn on construction by 2020

Big 5 2014The Big 5 Kuwait in 2014 brought together over 5,000 construction professionals to the largest building and construction event in the nation. (Image source: Big 5 Kuwait)Kuwait’s overall energy construction spending is expected to reach US$100bn over the next five years as it begins the implementation of its comprehensive 2030 strategy, research done by Ventures reported

The Big 5 Kuwait comes at a time when the country’s growing construction market is being driven by the energy sector. According to the International Monetary Fund, energy projects constitute 40 per cent of the country’s total construction projects as of May 2015.

According to a recent survey conducted by dmg events, approximately 64 per cent of respondents affirmed that industry-focused educational content would influence their decision making.

A wide range of construction industry topics delivered by renowned international industry speakers will be featured at the upcoming Big 5 Kuwait. The largest construction event is set to take place from 14-16 September at the Kuwait International Fair.

During the three-day course of the event, some of the topics to be discussed include:

• Update and overview of Kuwait's 2035 renewable energy targets and Kuwait’s green building framework
• New trends and innovations in interior design
• BIM modeling and applications
• Health and safety in construction masterclass
• The Internet of Things: Making smart cities a reality
• Cost-benefit analysis of internal facilities management (FM)

Ioannis Spanos, senior sustainability manager, KEO International Consultants, stated, “The participants can expect an extensive range of highly interactive and informative lecture series that will cover various key aspects of the construction sector including state of the art sustainability developments.

“We look forward to speaking with decision makers, industry leaders, policy makers and other stakeholders from both the government and private sectors. Our ultimate goal is to share our knowledge and skills in sustainable energy and sustainable construction that will further reinforce Kuwait’s market and contribute to the global industry’s growth.”

A half-day workshop on ‘How to trade in Kuwait’ will also be staged to help the international exhibitors and local distributors navigate through the unique process of doing business in Kuwait. The session will provide delegates with an important background on how and where to get started; local partnerships; licensing, permits and visas; premises and employment; taxation requirements; Kuwait foreign offset contributions; and risk management and exit procedures.

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