The GCC projects market continues to show resilience against a deteriorating macroeconomic backdrop, with clients committing capital despite the regional fallout from the US-Iran conflict.

According to the IMF, every GCC economy except Oman is projected to contract in 2026. Yet government-backed infrastructure spending has cushioned the blow, led by the UAE, where contract awards are up 6.1% year-on-year.

But beneath the headline figures, signs of a slowdown are emerging. Falling residential activity, a retreat in Saudi Arabia’s gigaproject spending and a sharp decline in tendering suggest that the market faces a tougher test as the conflict continues.

Read more in our November issue Agenda feature. 

Our 22-page market focus on the UAE examines how state-backed capital, greater freedom to increase oil production following the UAE’s exit from Opec, and continued investment in energy, transport and water infrastructure are helping the country absorb the economic shock of the Iran conflict.

It also looks at how Abu Dhabi is adjusting its diplomatic approach, and the risks that remain for the wider economy.

This month’s industry report turns to project finance, examining how Gulf lenders are reassessing risk amid regional instability, higher costs and tighter credit limits. While infrastructure funding needs remain undiminished, the conflict is changing the way projects are financed, with lenders paying closer attention to physical security, insurance and risk allocation.

The report also examines the slowdown in public-private partnership activity across the Middle East and North Africa, where the value of awards has fallen sharply despite a pipeline of major deals still to come.

We also speak to WSP’s regional president Dean McGrail about the resilience of the Gulf construction market, the shift towards infrastructure investment and the opportunities emerging in aviation.

H&H chairman Shahab Lutfi discusses how the Dubai developer is pressing ahead with contract awards despite rising costs and softer sales, while the UAE Ministry of Energy & Infrastructure’s Mohammed Al-Mansoori explains how the country is strengthening supply-chain resilience and maintaining infrastructure delivery in the face of disruption.

Elsewhere, we examine the global stadium construction market, where annual spending is forecast to jump by 39% in 2027 as governments prepare for major sporting events, and look at the economic consequences of the Strait of Hormuz closure.

We hope our valued subscribers enjoy the November 2026 issue of MEED Business Review.

Must-read sections in the November 2026 issue of MEED Business Review include:

> AGENDA: GCC projects market holds its nerve

> INTERVIEW: Stability holds as project work continues

> INTERVIEW: H&H continues to deliver Dubai projects

> INTERVIEW: Building resilience into infrastructure delivery

> STADIUMS: Stadium spending set to jump 39% in 2027

> REGIONAL CONFLICT: Hormuz closure wipes out growth in 2026

> UAE MARKET FOCUS:
> GOVERNMENT: Abu Dhabi mends fences with Riyadh
> ECONOMY: UAE growth holds up as regional risks persist
> BANKING: UAE banks profit as credit growth surges
> UPSTREAM: Adnoc steps up crude expansion
> DOWNSTREAM: Adnoc funnels billions into boosting gas processing
> POWER: Gas-fired projects drive resilience in UAE power sector
> WATER: Tasreef scheme drives UAE water investment
> CONSTRUCTION: State-backed spending cushions UAE construction slowdown
> TRANSPORT: Infrastructure drives UAE growth agenda
> MANUFACTURING: UAE vehicle manufacturing push moves into production

> MEED COMMENTS: 
> Regional tensions strengthen the case for GCC rail
> Focus turns to the Northern Emirates
> Gulf data centre ambitions face delivery test
> Qatar buys LNG reliability beyond Hormuz

> GULF PROJECTS INDEX: Saudi Arabia drives Gulf projects market higher

> SEPTEMBER 2026 CONTRACTS: Middle East contract awards

> ECONOMIC DATA: Data drives regional projects

> OPINION: When football meets politics

> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts