Contract awards

Biggest contract: $450m

Awarded to Orascom Construction Industries to build roads and related infrastructure in Saudi Arabia

$510m: Value of major contract awards

4: Number of contracts awarded

For further information visit www.meed.com/contracts

Renewed growth in Kuwait’s projects market contributed to the Gulf projects index increasing by 0.2 per cent to $2.54 trillion on 12 July, according to regional projects tracker MEED Projects.

The total value of projects planned or under way in Kuwait rose by 1.8 per cent to $170.8bn, as the $3bn Failaka island tourist project was revived, having been put on hold earlier in the year.

The GCC projects market, which accounts for about 71 per cent of the total Gulf projects market, recorded positive growth of 0.4 per cent, with Saudi Arabia recording a 0.7 per cent increase. No GCC countries recorded a fall.

Saudi Arabia’s projects market increased to $618bn as 33 new projects, worth a total of $4.8bn, were added to the kingdom’s projects index. The largest of these is a $2.5bn Saudi Aramco Clean Transportation Fuels Project in Riyadh. The $533m container terminal at the King Abdulaziz Port project in Dammam was also revived.

Project updates
  Project Name Project Status
Kuwait Failaka Island Resort Design
Saudi Arabia Riyadh Refinery: Clean Transportation Fuels Project Design
UAE NCC Harmony Towers (DuBiotech) On Hold
Iraq Baghdad Metro – Second Line On Hold
Saudi Arabia Hail Airport expansion On Hold
For further information visit www.meed.com/meedprojects

Oman recorded 0.2 per cent rise in the value of its projects market, while Qatar recorded 0.1 per cent increase. The award of a $73m infrastructure contract for Muscat and Salalah airports contributed to Oman’s growth, while Qatar’s resulted from the addition of six projects worth $446m to its index. The largest of these was the new $150m Tawar shopping mall project in the Ad-Dawhah area of Doha.

The week was not as positive for the Gulf countries outside the GCC.

Upcomimg tender deadlines
  Client Contract Submission date
Kuwait Kuwait Oil Company   Soil remediation 17-Jul
Saudi Arabia Interior Ministry Medical complexes 7 August 
Qatar Public Works Authority (Ashghal) Lusail Expressway  8 August
Kuwait Health Ministry Al-Amiri hospital 9 August
UAE Abu Dhabi Airports Company Midfield Terminal 11 September
For further information visit www.meed.com/tenders

Iraq’s projects index dropped 0.8 per cent, while the value of projects planned or under way in Iran fell by 0.1 per cent. Iraq’s slide was caused by two infrastructure packages worth $3.3bn on the Baghdad metro project being put on hold. Despite the fall, Iraq remains the region’s fastest-growing projects market, recording a 36 per cent year-on-year increase.