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Building $1tn of infrastructure is a critical component of Saudi Arabia's Vision 2030 strategy to wean its oil-dependent economy off hydrocarbons.
The scale of the projects launched in 2017 surpasses anything announced in the region before.
The Neom development alone is expected to cost $500bn to deliver. The future city covers an area the size of Belgium and aims to reshape humankind with new ways of living in zero-carbon cities free of cars.
The other gigaprojects launched include the Red Sea Project, Amaala, Diriyah, Qiddiya and Al-Ula.
These have been joined by a raft of other major projects such as King Salman Park, Riyadh Sports Boulevard and Jeddah Downtown.
All these projects were given fast-tracked delivery schedules. Now, after spending their formative years in the planning and design stages, there are less than 10 years left for construction and the race for delivery is intensifying.
The February issue of MEED Business Review focuses on the sharp ramp-up in construction activity expected in Saudi Arabia this year and next, and the challenge to secure sufficient contracting resources – the pressures of which are already being felt.
February's industry report turns the spotlight on the region's water and wastewater sectors. Global warming, geopolitical risks and the likelihood of recurring pandemics are forecast to increase the vulnerability of already water-scarce Mena countries, writes MEED's energy editor Jennifer Aguinaldo.
This month's 17-page Market Focus on Qatar, meanwhile, finds that while the football World Cup is Doha’s clear focus this year, the event is not its only opportunity for success.
Must-read sections in the February 2022 edition of MEED Business Review include:
> AGENDA: Saudi Arabia's race for delivery
> AGENDA INTERVIEW: Egis CEO sees great opportunities in Saudi Arabia
> CURRENT AFFAIRS: Last best chance for US-Iran deal
> INVESTMENT: UK pioneers sovereign investment partnerships
> MEED DIGITAL TRANSFORMATION INDEX: Riyadh secures top spot
> WATER & WASTEWATER REPORT: Mena region becomes global water hotspot
> QATAR MARKET FOCUS: Qatar nears its time to shine
> INTERVIEW: Gulf Capital’s co-founder and CEO Karim el-Solh
> LEADERSHIP: Impact investing opportunities ripen in Mena region
> GULF PROJECTS INDEX: Gulf index grows in January 2022
> DECEMBER 2022 CONTRACTS: UAE and Saudi Arabia fuel strong performance
> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts
We hope you enjoy the February 2022 edition of MEED Business Review.
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