Kuwait third fastest-growing Gulf market... with projects valued at $241 billion
Ahmed Maghrabi
Kuwait recorded a 1.1% growth in the value of its project market during the period from July 17 to August 21, 2026, an increase of $3 billion. This raised the total value of planned and ongoing projects to $241 billion, up from $238 billion in the previous period, placing it among the Gulf markets that achieved growth during this timeframe, according to the latest data from the “Gulf Projects Index” issued by MEED magazine.
This performance places Kuwait fifth in the Gulf in terms of project market value, behind Saudi Arabia, the UAE, Oman, and Qatar. The value of projects in Kuwait exceeded that of Bahrain, which stood at $57 billion, by more than fourfold. Kuwait also emerged as the third fastest-growing market among GCC countries during the period, after Qatar and Bahrain, reflecting an upward trend in the value of Kuwaiti projects against a backdrop of declines in several of the region’s largest markets.
The $3 billion growth in the Kuwaiti market came at a time when the total value of projects in the Gulf region—which includes the GCC states alongside Iraq and Iran—experienced a slight decline of 0.1%, equivalent to $5 billion, settling at $5.093 trillion as of August 21, 2026. This was after increases recorded in Qatar, Bahrain, Kuwait, and Iran offset a significant portion of the declines seen in Saudi Arabia, the UAE, Iraq, and Oman.
At the level of the six GCC states, the total value of projects reached $4.413 trillion, with a marginal change of -0.1%, according to the data from the index’s published table. This was amid strong growth in Qatar, alongside growth in Bahrain and Kuwait, which compensated for part of the decline recorded in the region’s two largest project markets, Saudi Arabia and the UAE.
Saudi Arabia led the GCC markets by volume, with project values reaching $2.146 trillion, despite a 0.4% decline in the market during the comparison period, equivalent to a drop of approximately $8 billion. The UAE ranked second in the Gulf, with project values of $1.353 trillion, after a 0.5% decline, equivalent to roughly $6 billion, despite the entry of two Dubai Municipality packages for the stormwater drainage network into the main contract bidding phase of the “Tasreef” system. The report considered that activity in Dubai reflects the growing importance of government-backed infrastructure projects amid geopolitical uncertainty.
Oman ranked third in the Gulf, with project values of $364 billion, recording a 0.9% decline. Qatar achieved the highest growth rate among GCC markets, with its project values jumping by 5%, an increase of $12 billion, to reach $255 billion. Bahrain recorded the second-highest growth rate in the Gulf at 4.1%, as its project market value rose by approximately $2 billion to $57 billion. Kuwait came third in terms of growth rate among GCC countries, with a 1.1% rise, as the value of its projects increased from $238 billion to $241 billion, gaining $3 billion during the comparison period.
According to the index data, the GCC countries account for approximately 86.65% of the total project value of $5.093 trillion across the eight markets covered by the Gulf Index, reflecting the significant weight of Gulf projects in the region’s investment and construction activity. The market map reveals that Saudi Arabia alone accounts for approximately 48.63% of the total value of GCC projects, while the UAE represents about 30.66%, with the two countries together holding approximately 79.29% of the total Gulf project market.
Kuwait, meanwhile, accounts for approximately 5.46% of the total project value in the GCC states and about 4.73% of the total project value in the eight markets covered by the index, registering positive performance during a period that saw declines in several of the region’s largest markets.
