Opportunity of Kuwait’s high demand for housing

An article by Sebastian Shehadi dated August 16, 2018 and published on fDi Intelligence is about the interview of this Kuwaiti construction company’s VIP.  It notably shows that business is as usual as it can be despite the on-going grid locking of the GCC interstates exchange of goods and services. Taking opportunity of Kuwait’s high demand for housing, a Kuwait based building company is nevertheless present in every country of the 6 member states of the GCC.

Ghosson Al-Khaled

Ghosson Al-Khaled, deputy CEO of Kuwaiti construction firm Acico, has been acknowledged as one of the Gulf region’s most powerful businesswomen. She tells Sebastian Shehadi about how the company is responding to Kuwait’s high demand for housing.

Acico deputy CEO looks to build on Kuwaiti demand

 

 

 

Q: What is Acico’s expansion plan for Kuwait and the wider region?

A: Acico Group has established a solid foundation within Kuwait’s construction and industrial sector. Our expansion plan aims to meet the country’s growing demand for housing. There are currently 95,000 housing applications from Kuwaiti citizens submitted to the government. These numbers are an indicator of the increase in housing demand locally. Acico is able to support this need at both the state and the consumer level, through our construction materials, including cement, autoclaved aerated concrete blocks, interlock blocks, readymix and precast concrete, and construction and contracting services.

Regionally, in line with Acico’s vision, our strategy is to expand our businesses as we work towards our aim of becoming a recognised leader within the industries in which we operate.

Q: In the next five to 10 years, would you like to see Acico operating beyond the Gulf or delving into new sectors and industries?

A: Our success is built on exploring market opportunities and meeting market needs across the Gulf region. We have built a reputation in offering efficient and sustainable solutions. Therefore, it is our entrepreneurial spirit to keep exploring opportunities, within and beyond the Gulf.

Q: Does Acico have any major outbound FDI projects on the horizon, and is the group trying to attract FDI in order to expand?

A: We consider ourselves a regional company as we have operations across the Gulf region. Currently, there are no FDI projects on the horizon, but we are open to value-adding opportunities as we have always been and continue to be.

Q: What is the most exciting construction project that Acico is taking on in 2018?

A: Acico is proudly involved in some of the biggest housing projects in Kuwait. Meeting housing demand, the government has allocated numerous housing projects to expand residential areas in the country. Located in the north of Kuwait, Mutlaa features multiple housing projects, to offer more than 30,000 housing units expected to house 400,000 residents, featuring schools, mosques, parks, markets and health centres.

Q: How are your operations contributing to the development programmes in the region, and are there any new regional projects?

A: Our operations in the region continue to thrive. We continue to supply demand for our construction products in Qatar, the United Arab Emirates and Saudi Arabia. We are currently developing a residential project in Khobar, Saudi Arabia, featuring 700 homes and plots. Acico also contributes to the redevelopment of Iraq through supplying building materials to Iraqi distributors.

Q: How do you aim to contribute to the Kuwait 2035 vision, and what are the major developments plans that you are supporting?

A: In addition to the housing projects, Acico Group sees itself heavily contributing to Kuwait’s strategic infrastructure projects. The development plans concerning construction and development of new cities are major plans that we are actively supporting through our construction products in addition to our development.

This article is sourced from fDi Magazine

 

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