86% jump in project awards in Kuwait to $93 million

Kuwait continued its progress on the MEED Index for awarded projects in the Middle East and North Africa last October, as the value of contracts awarded by Kuwait amounted to $93 million, registering a jump of 86%, compared to the value of contracts concluded in September, which amounted to $50 million. Thus, it ranked fourth in the Gulf region for the second month in a row, while it advanced from the sixth regional position to the fifth position.

The magazine said that this increase follows a 79% increase recorded by Kuwait in the value of awards recorded in September compared to last August, while the Kingdom of Saudi Arabia topped the list with the largest value of deals signed in October, amounting to $4.609 billion, followed by Qatar in second place with a value of $4.609 billion. 4.5 billion dollars, then the UAE came third with a value of 1.207 billion dollars, while Kuwait, Oman and Bahrain ranked fourth, fifth and sixth in the Gulf, respectively, with contracts worth 93 million dollars, 60 million dollars and 10 million dollars, reports a local Arabic daily.

On the regional level, the Middle East witnessed the third best month of the year in terms of awarding contracts in October, as deals worth $11.3 billion were signed, compared to $6 billion in September, an increase of about 80%. Iraq recorded awards worth $698 million to come in first. Fourth place regionally.

Read Today’s News TODAY…
on our Telegram Channel
click here to join and receive all the latest updates

Leave a Reply

Your email address will not be published. Required fields are marked *

× Contact us for news, article submissions, and SEO services.