Kuwait's Public Authority for Housing Welfare has received bids from contractors for two housing construction schemes in Kuwait.The schemes involve the construction of 1,777 houses, buildings and associated infrastructure at sector BP3 and 1,568 houses, buildings and associated infrastructure at BP1.The bidders for the BP3 scheme include:Wara Construction Company ($399m)Real Estate Construction and Fabrication Company ($403m)Arab Contractors Company ($409m)Khalid Ali Al Kharafi & Brothers ($419m)Canar Trading & Contracting ($429m)United Gulf Construction Company ($461m)United Building Company ($471m)Sinohydro Corporation ($481m)China First Highway Engineering Company ($488m)Combined Group Contracting Company ($500m)China Railway No.5 Engineering Group ($516m)The bidders for the BP3 scheme include:Wara Construction Company ($377m)Real Estate Construction & Fabrication Company ($394m)Arab Contractors Company ($406m)Khalid Ali Al Kharafi & Brothers ($406m)Canar Trading & Contracting ($412m)United Gulf Construction Company ($452m)United Building Company ($455m)China State Construction Corporation ($481m)Sinohydro Corporation ($494m)Combined Group Contracting Company ($591m)Mohammed Abdul Mohsin Al Kharafi & Sons (undisclosed) Kuwait's Public Authority for Housing Welfare had set December deadlines for two housing construction tenders.The bid submission deadline was extended to 21 December.The main contract bid submission deadline was also extended to 26 December for the construction of 60 residential buildings at Sabah Al Ahmed residential city located 80 kilometres south of Kuwait City.Kuwait construction marketThe construction was the second-largest projects sector in Kuwait last year, with about $627m of contract awards in 2022. In 2023 so far, there have been awards worth about $600m, setting the year on a similar trajectory. Both of these figures are well below the $1.8bn average annual awards between 2018 and 2022, or the $4bn average annual spend in the five years before that. As with other project sectors in Kuwait, construction is a victim of a significant curtailing of public project spending in the country as planned schemes have been caught up in the political infighting over expenditure and debt.Meanwhile, the pipeline of planned and unawarded construction projects in the country stands at about $22.9bn, with $8.7bn worth of projects under study, $6.6bn in design, and $7.6bn in the bidding phase.Among the latest projects added to the pipeline are the $8bn-worth of planned real estate developments in the Neutral Zone that Saudi Arabia and Kuwait share. In July, Gulf Coast Real Estate Development Company, a subsidiary of Saudi Arabia’s Public Investment Fund, received bids from companies to provide project management consultancy services and invited firms to bid for another contract covering cost consultancy services. (ICE KUWAIT)

Fonte notizia: Meed