This report offers a detailed picture of the existing GCC projects market – providing the latest data on competitor and client activity by sector within the key markets along with forecasts, pricing and much more. 

The GCC Projects Forecast & Review will:

  • Help you with your strategic planning requirements
  • Provide you with insight on current and future prospects
  • Give you access to exclusive data, research and analysis

You will benefit from access to:

  • Rankings of the top projects, sectors contractors and clients
  • A comparison of 2008 and 2009 contract awards by sector and country
  • Data on contract awards by sector and country in the first 6 months of 2010
  • Forecasts for awards by country and sector to 2012
  • Data on projects that are on hold by sector
  • Budgeted capital spending by governments 2009 and 2010
  • Future project data by sector
  • Outlook for the oil price to 2012

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To register your interest in the annual subscription (this core report and 3 shorter sectorial updates) please contact MEED Insight today.

Tables and charts

Chapter 1
Value of projects awarded in the GCC by country, 2000-08
Value of projects awarded in the GCC by sector, 2000-08
Breakdown of GCC contract awards by sector, 2000-03
Breakdown of GCC contract awards by sector, 2004-08
Comparison of contract awards between Dubai and the rest of the GCC, 2000-08
Number of major contracts worth $50m awarded, 2000-08
Comparison of oil price and GCC contract awards, 2000-08
Comparison between GCC population growth and the value of contracts awarded, 2000-08
Comparison between power and water contract awards and population growth, 2000-08

 

Chapter 2
Breakdown of projects on hold or cancelled in the GCC by country
Budget value of all GCC projects put on hold or cancelled by country and year, 2007-09
Comparison between on hold/cancelled projects in Abu Dhabi and Dubai
Breakdown of on hold and cancelled projects by sector
Value of GCC construction contracts awarded, 2008-09
GCC contract awards by quarter, 2008-09
GCC contract awards by country, 2008-09
GCC contract awards by sector, 2008-09
GCC contract awards, 2009-10
GCC contract awards by sector, 2009-10 (excluding $20bn UAE nuclear contract)
GCC contract awards by country, 2009-10
Selected GCC hydrocarbons projects tendered in May 2010
GCC government budgeted expenditure and capital investment ($bn)
Value of unawarded projects in the GCC by selected sector
Value of unawarded projects in the GCC by country

 

Chapter 3
Top 10 EPC oil, gas and petrochemical contractors in the GCC based on work under execution
Percentage breakdown of top oil, gas and petrochemical EPC contractors based on work under execution
Breakdown of top oil, gas and petrochemical EPC contractors by nationality based on work under execution
Top oil, gas and petrochemical clients by value of work under execution, June 2010
Top 10 EPC power and water contractors in the GCC based on work under execution
Breakdown of top EPC power and water contractors based on work under execution
Breakdown of top EPC power and water contractors by nationality based on work under execution
Top power and water clients by value of work under execution, June 2010
Top 10 construction and infrastructure contractors in the GCC based on work under execution
Breakdown of top construction and infrastructure contractors based on work under execution
Top 10 government construction and infrastructure clients by value of work under execution
Top 10 oil, gas and petrochemical clients by unawarded projects
Top 10 power and water clients by unawarded projects
Top 10 construction and infrastructure clients by estimated budget value of announced future projects

 

Chapter 4
GCC real GDP growth rates
MEED Insight forecast for GCC contract awards in all sectors, second half 2010
MEED Insight forecast for GCC contract awards by country, second half 2010
MEED Insight forecast for GCC contract awards by selected sector, second half
MEED Insight forecast for GCC contract awards by selected sector and country, second half 2010
MEED Insight forecast for GCC contract awards by country, 2011
MEED Insight forecast for GCC contract awards by sector, 2011
MEED Insight forecast for GCC contract awards by selected sector and country, 2011
MEED Insight forecast for project awards by country, 2012
MEED Insight forecast for GCC contract awards by selected sector, 2012
GCC historical and future contract awards by year, 2000-12
GCC historical and future contract awards by country, 2005-11

 

APPENDIX A
Selected major construction sector contracts due to be awarded in second half of 2010
Selected major infrastructure sector contracts due to be awarded in second half of 2010
Selected major oil, gas and petrochemicals sector contracts due to be awarded in second half of 2010
Selected major power and water sector contracts due to be awarded in second half of 2010

 

APPENDIX B
Selected major construction sector contracts due to be awarded in 2011
Selected major infrastructure sector contracts due to be awarded in 2011
Selected major oil, gas, petrochemicals sector contracts due to be awarded in 2011
Selected major power and water sector contracts due to be awarded in 2011

 

APPENDIX C
GCC cement prices, 2004-10
GCC rebar prices, 2004-10
GCC structural steel prices, 2008-10
GCC locally hired project manager monthly salaries, 2005-10
GCC expatriate project manager monthly salaries, 2005-10
Average skilled labourer daily wage, 2008-10

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The GCC projects market fell in value by 19 per cent in the first sixth months of the year compared with the same period in 2009 according to the latest data compiled from MEED Projects, the online projects tracking database.

Just over $49bn worth of contracts were awarded in the first six months compared with the $60bn worth of deals signed in the equivalent period last year. The drop in project awards was despite an additional $35bn in GCC capital spending allocated in government 2010/11 budgets, and a general improvement in the region’s economies.

“It is somewhat surprising to see project awards falling compared with last year,” says Edward James, Head of MEED Insight, the research and analysis arm of the MEED business. “The first six months in 2009 were at the height of the global recession, and we would have expected project spending to have been lower then than now, especially as there has been an improvement in the macroeconomic environment.”

MEED Insight’s latest off-the-shelf research report, the GCC Projects Forecast & Review 2010 offers a detailed picture of the existing GCC projects market – providing the latest data on competitor and client activity by sector within the key markets.  Analysis of the data highlights a sharp drop of more than 60 per cent in the value of Saudi Arabian contract awards between the two periods from $29bn to just $11bn. The decline was partly as a result of delays on the $11bn Yanbu refinery project. Delays in awarding several other high-value deals were another factor.

“The downward correction in contract awards in Saudi Arabia is a concern because many in the market had been looking to the kingdom to make up the loss of project activity caused by the Dubai real estate crash,” says James. “However, we are hopeful that much of the shortfall will be made up in the second half of the year.”

A feature of the first half of 2010 was the growing competition for new work in the GCC. In key markets, such as the Abu Dhabi building sector, contractor margins were estimated to have halved since their mid-2008 peak. Intense competition was also apparent in the oil and gas sector with bids on a host of projects coming in at 20-30 per cent below budget.

The latest MEED Insight forecast predicts a total GCC project spend of $150bn for the whole of 2010, down on the 2009 figure, but in line with the five-year regional average. The value of contract awards is expected to double during the second half of the year, with Saudi Arabia constituting the bulk of spending at just over $46bn, followed by the UAE at nearly $25bn, and then Kuwait at $16bn, a fourfold increase on the first half of the year.

“The project market in Kuwait has not lived up to its potential over the last 10 years,” says James. “However, the signs are now that it is finally pushing ahead with its long-delayed project plans such as the Subiya causeway, the Al-Zour North power and desalination projects, and the Failaka island development. We expect the state to comprise a large proportion of project activity over the next five years.”

This report is a complete forecast by sector and country for the GCC projects over the next two years.  It has been based on face-to-face interviews with key players in the sectors and supported by proprietary data compiled by MEED and MEED Projects. It has been written by Edward James, Head of MEED Insight.

Watch Ed James live at our Arabian World Construction Summit in Abu Dhabi – discussing the GCC projects market:

Video:

MEED Insight’s view of the GCC projects market

About MEED Insight:

Thanks to its own projects tracker, MEED Projects, MEED Insight has access to unparalleled, up-to-date information on the region’s projects market. We can provide companies with:

  • Details of all major projects within a given market or sector, including their scope
  • Contacts for clients, contractors and suppliers
  • Information on key clients and their tendering processes
  • Information on how to register with clients and prequalify for projects
  • Forecasting of future projects

Data analysis
 
MEED Insight has access to a wealth of regional data ranging from broad macroeconomic statistics to sector-specific information. We can obtain and analyse data on a specific market or industry to help companies gain an insight on market size and potential

Off-the-shelf reports

MEED Insight also offers a series of off-the-shelf reports on a range of different sectors and industries. The information compiled for these reports comes from a variety of sources, including MEED magazine, MEED.com, MEED Events and MEED Projects, as well as primary and secondary research.

Our current off-the-shelf reports include:

  • GCC ICT Projects Outlook & Review
  • Power & Water in the GCC 2010
  • Libya Power & Desalination
  • Middle East Steel 2009
  • Wastewater in the GCC
  • Middle East Cement 2009
  • MENA Mining 2009
  • MENA Aluminium 2009
  • GCC District Cooling
  • GCC Economic Outlook

To find out how MEED Insight can help you gain critical business insight, please submit your details on our contact form:

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