Biggest contract: $133m
Awarded to Saudi Arabia’s Al-Muhaidib Contracting for a university teaching hospital in Medina
$133m: Value of major contract awards
1: Number of contracts awarded
For further information visit www.meed.com/contracts
Growth in the Oman market stabilised to the Gulf Projects Index at $2.49 trillion for the week up to 19 December.
The total value of projects planned or under way in Oman grew by 2.9 per cent as 14 new projects worth a total of $2bn were added to its project index and work on three construction projects worth an estimated total of $2bn restarted.
Qatar’s projects index recorded the second largest increase in the Gulf, with the value of projects growing by 1.3 per cent to about $219bn. This includes the $1.2bn Doha Metro Red Line project and the $2bn Alpha-olefins Plant along with oxo-alcohols units at the Ras Laffan Olefins Complex.
Kuwait, the UAE and Bahrain experienced a decline in the value of their projects markets. Kuwait’s project sector recorded a fall of 1.3 per cent as Kuwait Oil Company’s Abdali Field Development was cancelled and the Electricity & Water Ministry’s $2.7bn Subiya power plant was completed.
|Project Name||Project Status|
|Iraq||Iraq Housing Project : Phase I||Construction|
|Iraq||Mansuria Power Plant||Construction|
|Kuwait||Abdali Field Development||Cancelled|
|Kuwait||Subiya Power Plant||Complete|
|UAE||Zayed Bay||On hold|
|For further information visit www.meed.com/meedprojects|
The decline in the UAE can be attributed to the completion of $2.9bn-worth of projects and $3.4bn-worth of projects were put on hold, including Al-Qudra Holding’s $408m Zayed Bay development.
The Bahrain market remained broadly flat for a second consecutive week with a slight decline of 0.3 per cent.
The Gulf’s largest project market, Saudi Arabia, was static, with $658bn of projects planned or under way.
|Upcoming tender deadlines|
|UAE||Al-Hilal Bank||Headquarters building||40,545|
|UAE||Abu Dhabi Health Services Company (Seha)||Al-Ain hospital||40,548|
|Saudi Arabia||Health Ministry||King Faisal specialist hospital||40,557|
|Qatar||Qatar Foundation||Southeast car park||40,558|
|Oman||Transport & Communications Ministry||Batinah expressway package 3||40,559|
|For further information visit www.meed.com/tenders|
Overall, the GCC index grew marginally. Outside the GCC, the Iran market remained largely flat with a minor decrease. Iraq’s projects market showed a slight uplift as projects worth a total of $50m were added to its index.
The Gulf Projects Index has fallen by 8.4 per cent during 2011.