Mubasher: The total value of annual projects awarded in Kuwait during the first quarter (Q1) of 2026 reached the highest quarterly level in more than 21 quarters, since Q1-21, according to the market update report by Kamco Invest.
The overall value reached $8.1 billion at the end of March 2026 compared to $1.5 billion in Q1-25.
Kuwait witnessed a 5.5 times annual gain in the value of contracts awarded during Q1-26, representing the largest yearly percentage growth in aggregate contracts awarded among the GCC countries for the year.
Projects that are in line with the economic diversification agenda of the Kuwaiti government as part of the broader Kuwait Vision 2035 strategy served as the foundation for the overall growth of contracts within the country over the course of the year.
Beyond these diversification efforts, Kuwait also continued to push forward with various initiatives aimed at modernizing its essential foundational sectors, including energy and in specific the oil and gas sector.
Meanwhile, Kuwait's water sector received over 45% or $3.7 billion of the total value of projects awarded in the country during Q1-26.
This was followed by the construction sector with $2.6 billion and the oil sector, which witnessed over a 36-fold jump annually in contract awards, reaching $1.5 billion in Q1-26 compared to $41 million in Q1-25.
Kamco Invest cited MEED Projects, saying there are over $128.8 billion worth of contracts in the pipeline for Kuwait. Meanwhile, 34.4% of the developments are in the study stage, followed by 29.6% in the design stage, while 11.5% are in the bid evaluation stage.
In terms of upcoming contracts, the construction sector with 28.4% and the power sector with 27.7% represent the lion's share of projects in the pipeline.
One of the major projects in Kuwait that has been awarded during Q1-26 is the North Kabd Sewage Treatment Plant Upgrade, with a budget of $3.2 billion. The project is expected to process up to 1 million cubic meters of wastewater a day, using advanced technologies.
Furthermore, major works of the project include design, construction, operation, and maintenance over 10 years. Key components of the project also include the upgrade of the existing treatment plant as well as the construction of two sewage treatment units.
Another major contract awarded during Q1-26 is the $320 million contract to construct crude oil pipelines and associated works in South Kuwait, including the procurement and supply of construction materials as well as the construction of flowlines for producer, injector, and disposal wells.
