Unlocking Kuwait’s economic potential

Unlocking Kuwait’s economic potential

By Mansour Al-Tamimi

Kuwait is one of the wealthiest countries in the world, with a high GDP per capita and a large oil reserve. However, despite its wealth, Kuwait has one of the lowest rates of land use in the world, with only 8.8 percent of its total land area being utilized for human activities (World Bank, 2019). This is a missed opportunity for economic growth and diversification, especially given the country’s dependence on oil exports, which are subject to market volatility and fluctuations. Land is considered one of the most important sources of income for Kuwait, after oil.

Failure to exploit it is indeed a great loss for the state. Therefore, it is crucial for the government to take action and develop its land in a sustainable and responsible way to unlock its economic potential. The underutilization of land in Kuwait is due to various factors, including a lack of urban planning, outdated regulations and a lack of investment in infrastructure. These factors have contributed to a housing crisis, with many people struggling to find affordable and suitable housing. As a result, the government must prioritize the development of new housing options.

Introducing new housing methods and partnering with real estate development