Al Masraf Sets Stage for UAE’s First Federal Dollar Bond Sale

Arab Bank for Investment and Foreign Trade,...

HEISCO Renews Credit Facility to Reinforce Industrial Activity in Kuwait

Kuwait’s industrial sector recorded a notable financial...

Kuwait Advances Labor Reform With New Residency Law and Digital Manpower Services

Kuwait’s labor market reform continues to move...
HomeBusinessKuwait Launches First...

Kuwait Launches First Central Vehicle Auction Market to Modernize Car Trading

Kuwait is taking a major step toward vehicle market modernization with plans for its first central vehicle auction market. The project aims to consolidate vehicle sales, improve transparency, and create a structured marketplace for buyers and sellers. Therefore, the government is inviting both local and international investors to participate, reflecting its push for modernization in the sector.

The Public-Private Partnership Authority announced that companies can submit expressions of interest to build and operate the auction market. Applications must include digital forms emailed to the authority and hard copies delivered in person. In addition, the deadline for submissions is Thursday, January 29, at noon Kuwait time.

First proposed in 2019 by the Ministry of Commerce and Industry, the project covers roughly 500,000 square meters across Al-Abrq, Al-Naayem, and Al-Liyah. Moreover, the market will include auction halls, car showrooms, technical service areas, and open-air spaces for vehicle inspections. Officials said the auction system will combine both in-person and digital platforms to meet international standards.

The project also aims to reduce informal sales, ensure safer commercial activity, and lower emissions and dust. By placing showrooms and trading facilities in one location, the government moves commercial activity out of residential areas. Furthermore, the market will feature dedicated halls for used cars, offices for trading companies, government services, and supporting facilities. Its strategic location on Salmi Road ensures easy access to major commercial and industrial centers, as well as regional transport routes and border crossings.

Preparatory work began in 2020 but faced delays due to land and infrastructure approvals. Then, in October 2025, the Ministry of Commerce and Industry reviewed initial designs and the execution plan with the Public-Private Partnership Authority and consulting firms. Consulting contracts signed in February 2025 cover financial, engineering, legal, and environmental feasibility studies under Kuwait’s Public-Private Partnership Law No. 116 of 2014.

Officials said the project will enhance efficiency, attract experienced operators, and protect consumer rights. By consolidating sales and improving infrastructure, the government expects to modernize the vehicle trading sector significantly. In addition, the auction market will combine digital and physical platforms, which will strengthen the sector and provide a regional example.

The market is expected to open in 2026, marking a major milestone for Kuwait’s vehicle industry. Overall, this project highlights Kuwait’s commitment to vehicle market modernization and creating a sustainable, organized trading environment.

Continue reading

Oman Celebrates Extended Break with Tourism and Family Activities

Oman residents enjoyed a vibrant Oman long weekend, returning to work on Monday after a four-day holiday. The break included Accession Day on January 15 and Isra wal Mi‘raj, creating an extended festive period. The holiday encouraged locals and...

Saudi Public Investment Funds Surge to $58 Billion by Q3 2025

The value of Saudi public investment funds climbed significantly by the end of the third quarter of 2025, reflecting growing confidence in the country’s financial markets. Analysts attribute this surge to both local and foreign investments, showing strong momentum...

NMDC Infra Expands Globally with Strategic Acquisition in Spain

NMDC Group strengthened its global presence by announcing the NMDC Infra acquisition of 51 percent of Spain’s Lantania Aguas. This deal creates a major international player in the water sector and combines technical expertise with operational experience. It also...