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Kuwait's Construction Sector Faces Delays Amid Financing Growth

2/17/2025

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Summary

Story summary

Kuwait's construction sector struggles with project delays and rising costs from a labor shortage.
Local banks experienced a monthly financing drop of KD 61.8 million in December, totaling KD 445.5 million.
Despite this, annual financing grew by KD 211.4 million, reaching KD 3.86 billion in 2024.
Local bank deposits rose by KD 816 million, totaling KD 53.823 billion by December 2024.

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Story summary

Kuwait's construction sector struggles with project delays and rising costs from a labor shortage.
Local banks experienced a monthly financing drop of KD 61.8 million in December, totaling KD 445.5 million.
Despite this, annual financing grew by KD 211.4 million, reaching KD 3.86 billion in 2024.
Local bank deposits rose by KD 816 million, totaling KD 53.823 billion by December 2024.