Gulf Construction Online - Big 5 opens doors to Kuwait market

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Visitors at last year’s Big 5 Kuwait.

Big 5 opens doors to Kuwait market

01 August 2016

The Big 5 Kuwait, which is set to be held next month, is seen as a potential launchpad to Kuwait’s promising market, where nearly $69 billion has been set aside for construction projects.

More than 200 local and international exhibitors from 24 countries will showcase thousands of certified products over 4,700 sq m of space at the Kuwait International Fair when The Big 5 Kuwait 2016 opens its doors in Kuwait City next month (September 25 to 27).

The event aims to attract thousands of decision-makers that are involved in Kuwait’s construction industry, according to dmg::events, organiser of the show. The show will introduce innovative products, including building materials and green technologies boosting the development of sustainable projects. Alongside the exhibition, visitors will have the opportunity to attend over 20 free CPD (continuing professional development)-certified workshops, including the Sustainability Day focusing on smart, sustainable, green buildings and cities.

Citing figures from Meed, dmg::events says with planned developments worth an estimated $123.6 billion and a $68.9-billion government construction budget for 2016, Kuwait’s construction industry offers massive business opportunities.

Last year, The Big 5 Kuwait grew by 21 per cent across all participants, with a 43 per cent growth in international exhibitors, the organiser says. The last edition of The Big 5 Kuwait welcomed 7,187 participants, including 4,570 unique visitors and approximately 200 exhibitors (43 per cent more international exhibitors).

“These figures are a clear sign of the show’s success and they are set to grow even further in 2016 as we will bring the best of The Big 5 show to Kuwait tailoring our 36 years of experience to the needs of the local construction industry,” says Ashley Roberts, event director of The Big 5 Kuwait.

The latest trends, findings, insights and issues in the sector will be discussed at The Big 5 Kuwait in free-to-attend CPD-certified workshops delivered by industry experts from DLA Piper, KEO International Consultants, Kuwait Oil Company and many more. Moreover, the ‘How to Trade in Kuwait’ seminar will offer useful tips and information to tap into the Kuwait market and effectively conduct business.

Free workshops and seminars ... a key feature of the event.

Roberts says: “Today, The Big 5 Kuwait is an unmissable event for all industry players interested in the huge business opportunities that Kuwait has to offer.”

The construction industry in Kuwait is expected to grow at a compound annual growth rate of 6.44 per cent from 2016 to 2020, says a report by Trimetric. This is due to the government developing projects in areas including rail, infrastructure, road, and airport under its Vision 2035 programme.

To address growing demand, visitors to The Big 5 Kuwait will be able to meet new exhibitors from 24 countries including Germany, Italy, Turkey, Kuwait and many others. This year also sees a Serbia exhibit for the first time. Visitors will have the opportunity to source new certified products and review existing ones, compare prices and meet suppliers.

Kuwait recently introduced the New Direct Investment Promotion law which addresses the flaws in the previous system, and which encourages the creation of new, large companies in the country. In addition, the construction sector is now benefitting from the government’s initiative to develop the public private partnership (PPP) model, Roberts says.

“To leverage the fresh momentum experienced by the Kuwaiti market, our event will highlight advanced solutions and products for the local construction sector. Following three hugely successful editions, we are developing the event to ensure that The Big 5 Kuwait maintains its position as the leading event for the construction community in Kuwait,” he says.

The Kuwait government’s 2035 economic vision comprises five separate five-year plans that aim to reduce oil dependency by transforming the country into a diversified commercial and financial hub. The latest plan (2015-2020) sets aside $116 billion for a broad range of projects including 45,000 new housing units, a metro and railway system and a new refinery.

With an investment of $7 billion, the 171-km Kuwait Metro Rail is due for completion by 2020. The government also plans to start construction work of the Kuwait National Rail Road System, a long-distance railway project, under the current five-year development programme.

The Big 5 Kuwait will capitalise on the opportunities such a high level of investment will create, giving visitors access to thousands of innovative products, knowledge and new contacts that will help them drive their business forward.

The free-to-attend Sustainability Day offering strategic insights on the topic and highlighting best practices and opportunities for industry players, will take place on the final day of the show (September 27).