The Gulf Projects Index rose 0.2 per cent in the week up to 10 July, led by a strong performance by Kuwait.

Kuwait was the biggest gainer of the week, as the value of its schemes planned or under way grew by 5.7 per cent. The increase was due to a proposal by Kuwait Municipality and the Kuwait Institute for Scientific Research to build a $10bn 20GW renewable energy park west of Kuwait city. If the project goes ahead, it would be one of the largest solar energy facilities in the world.

Project updates
  Project name Project status
Kuwait Iran-Kuwait gas pipeline Revived
Kuwait Renewable energy park Study
Qatar Oryx Island Cancelled
Saudi Arabia Pilgrim city in Medina Design
UAE Downtown Jebel Ali On hold
For further information visit www.meed.com/meedprojects

Kuwait’s projects market also received a boost from the launch of phase one of the $2bn Al-Khiran independent water and power project. The country has enjoyed a strong year and is now the fastest-growing projects market in the Gulf region, with the value of its projects index up 23.1 per cent year-on-year.

Saudi Arabia, the region’s largest projects market, rose by 1.1 per cent, driven by the Finance Ministry’s plan to build a $10bn mixed-use development in Medina. 

Upcoming tender deadlines
  Client Contract Submission date
Saudi Arabia Health Ministry King Khaled Medical City 18 Jun
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
For further information visit www.meed.com/tenders

Qatar posted the biggest drop in the index, as the value of schemes planned or under way fell by 2.2 per cent. This was largely due to the cancellation of the local Barwa Real Estate’s $5.5bn Oryx Island project.

Outside the GCC, Iran’s projects market rose 1.6 per cent due to the revival of a $4bn project by the local Masjed-e Soleiman Petrochemical Company to set up a fertiliser firm near Ahwaz in the south of the country.

Iraq’s projects index remained unchanged as a $611m upward revision in the budget of the Basra Investment Commission’s Nakheel City scheme was offset by a $611m downward revision in the budget of the Construction & Housing Ministry’s Iraq Housing Programme.

Contract awards

Biggest contract $42m

Awarded to Athens-based Consolidated Contractors Company to build phase three of the Al-Amerat wastewater network in Oman

$54.5m Value of major contract awards

2 Number of contracts awarded

For further information visit www.meed.com/contracts