The Gulf Projects Index rose 0.1 per cent in the week up to 17 July, led by growth in Kuwait and the UAE.
Kuwait was the biggest gainer of the week, as the value of schemes planned or under way increased by 0.4 per cent. The growth was largely due to the launch of a plan by the Ministry of Electricity & Water to spend $1bn to expand two power plants in Subiya.
Kuwaits projects market has enjoyed a strong year and is now the fastest-growing projects market in the Gulf region, with the value of its index up 22.4 per cent year-on-year.
The UAEs projects index rose by 0.3 per cent, driven by the launch of a $560m scheme by the Sheikh Zayed Housing Programme. The countrys projects sector also got a boost from the launch of a $275m scheme by the local Damac Properties to build 90 apartments at its Akoya Golf Community development in Dubai.
|Project name||Project status|
|Iraq||High Speed Railway Network: Basra-Fao line||Design|
|Kuwait||Subiya 2 enhancement project||Study|
|Saudi Arabia||Jabal al-Sharashif development in Mecca||Study|
|Saudi Arabia||Ka-Care: Sustainable City||Study|
|UAE||Mohammed bin Rashid City District One||Bidding|
|For further information visit www.meed.com/meedprojects|
Qatar grew by 0.1 per cent due to the launch of 23 new projects, the largest of which is a $94m scheme by the Qatar Olympic Committee to build a multipurpose hall at Al-Sadd Sports Club.
Saudi Arabia, the regions largest projects market, fell by 0.1 per cent due to the completion of a $320m scheme to build the 727-room Al-Saheefa Hotel in Mecca. Despite the decline, the kingdoms projects market has performed well this year, rising 20.3 per cent year-on-year.
Outside the Gulf, Iraqs projects market rose 0.2 per cent as the value of the Industry & Minerals Ministrys Basra steel mill complex scheme was revised upwards by $700m.
|Upcomimg tender deadlines|
|Egypt||General Authority for New Urban Societies||Provision of public utilities for social housing project||25-Jun|
|Qatar||Public Works Authority (Ashghal)||Design, build and operation of Musaimeer pumping station||30-Jun|
|Oman||Regional Municipalities, Environment & Water Resources||Design, construction supervision of a flood protection scheme||08-Jul|
|Egypt||New & Renewable Energy Authority||Design, manufacture and construction of 120MW wind farm||20-Jul|
|Saudi Arabia||Health Ministry||King Faisal Medical City||11-Aug|
|For further information visit www.meed.com/tenders|
Irans projects index decreased by 0.1 per cent as Iranian Central Oil Fields Company put its $500m Halegan gas refinery scheme and $500m Halegan field development on hold.
Biggest contract $667m
Awarded to the local El-Seif Engineering Contracting to build phase 2b of the Saudi Interior Ministrys King Abdullah Project security compounds network
$857m Value of major contract awards
3 Number of contracts awarded