The Middle East’s trade association MENALAC is to run a conference and networking event in Kuwait on December 8. The venue will be the Salwa Sabah Conference Centre at the Marina Hotel.
The association reports that Kuwait has an investment of US$494.1bn in urban development, leisure and tourism projects as part of its Vision 2035 programme. The country has an ambition to transform itself into a tourism hub and will have several new leisure projects under way soon. Said the association: “There are new leisure plans at various stages of preparation right now. Kuwait offers many opportunities to capitalise. With prolonged socio-economic and political stability, Kuwait is one of the most important markets in the MENA region.”
The conference plans include visits to locations open now and where projects are planned, plus a range of seminars with subjects ranging from new opportunities in Kuwait, past, present and future; focus on regulations; a keynote presentation on "driving the social experience within retail developments," a networking evening and a gala dinner.
Prakash Vivekanand, secretary general of the association, said: “Kuwait’s economy is one of the most vibrant in the GCC. Its tourism, leisure attractions and amusement facilities are growing fast due to high demand. At the meeting, we will listen to our industry stakeholders and understand the opportunities in the leisure tourism sector and help the industry stakeholders to develop a better understanding on future opportunities in Kuwait.
“At this MENALAC conference, we will discuss new growth opportunities in the leisure attractions sector in Kuwait. This will help the industry players tap into such new opportunities and make the right connections for all industry stakeholders.”
The primary developers in Kuwait currently are the Secretariat of the Supreme Council for Planning and Development and the Kuwait Authority for Partnership Projects, but South Korea’s Hyundai Engineering and Construction Co and the UAE-founded Petrofac are among the country’s top five contractors.
Among these, the upcoming construction projects in Kuwait are valued at $337.7bn, according to ProTenders' data in June 2019. Of this, $51.9bn are infrastructure developments, and $245.4bn are urban buildings.
Tamdeen Group, for example, is developing the US$82.2bn "Silk City" in Kuwait (concept pictured) - billed to be the world’s largest mixed-use project that will have a major impact of the country’s economy.
MENALAC is a platform wherein the industry players can liaise with government entities. Well versed with the rules and regulations, they can better translate the new regulations that are proposed by the government bodies, create a harmonious relationship between operators and government.
The Gulf Cooperation Council countries are investing significantly to develop their leisure and entertainment sectors in order to improve quality of life, celebrate national identities, and diversify national economies.
MENALAC, which was launched in 2016, has grown with a large number of active members across the region, where the leisure and entertainment industry is set to grow due to an increasing young population who are high-spenders in leisure and entertainment attractions.
MENALAC has been set up under the aegis of the Dubai Chamber of Commerce and Industry and the Dubai Association Centre in 2016 when leading companies within the region’s entertainment industry, including theme parks, visitor attractions, water parks and family entertainment centres companies joined forces to form a council to support the growth and development of the industry.
To participate in the conference, contact MENALAC on +971 50 811 3405 or through www.menalac.org
