Group CEO Mohammed Al-Ghanim Interview with Oxford Business Group – Al-Hamra

Group CEO Mohammed Al-Ghanim Interview with Oxford Business Group

An exclusive interview with Oxford Business Group forum On infrastructure priorities and project frameworks by Mohammed Al-Ghanim, CEO of Hamad Sulaiman Al-Ghanim Group of Companies.

To what extent has Covid-19 impacted the construction sector in Kuwait?

MOHAMMED HAMAD AL GHANIM: The first lockdown in Kuwait effectively shut down construction activity for four months. Since then, we have continued to work to recoup lost time. The industry is now beginning to grasp how this event will continue to impact supply chains as they are an intrinsic part of project delivery. Regarding the global market outlook, most reports indicate a regression in terms of public spending. In the Gulf this has been caused by the drop and ensuing fluctuation in oil prices, and by governments’ cash flow stress. In Kuwait the public sector drives construction demand, but it is expected that only 15% of the projected state budget will be allocated to capital investment. Therefore, the construction sector is expected to be in a difficult situation for the next two years.

0 Likes