For all the talk of cancellations and cutbacks, Neom is still building – and its biggest completed project to date offers a clue to where the $500bn gigaproject is heading. Our October Agenda feature examines how Oxagon is moving to the centre of Neom’s strategy, as investment shifts towards projects with the potential to generate tangible commercial returns, from green hydrogen and ports to AI data centres and logistics infrastructure.

Read the full analysis in the October issue of MEED Business Review.

As Neom reshapes its priorities, Saudi Arabia’s wider project market continues to show resilience. Contract awards have reached $68bn in 2026, despite regional conflict and economic uncertainty, with activity spanning energy, infrastructure, power and the future economy.

But with $91.5bn of projects completed this year, new awards will be crucial to maintaining momentum into 2027.

This edition also includes MEED’s 2026 power developer ranking, revealing the companies driving the region’s rapidly expanding power market.

The issue also explores key trends shaping the region, from AI’s growing demands on grid capacity and the implications of ICE Futures Abu Dhabi’s wind-down for Gulf commodity markets, to how the Hormuz crisis is redirecting oil companies’ focus to North Africa. Our Leadership feature asks whether the future city really needs to hang above the ground.

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

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

> AGENDA: Oxagon takes centre stage at Neom

> POWER: AI is creating a grid capacity problem

> LEGAL: What IFAD’s wind-down means for Gulf commodity markets

> OIL: Oil companies focus on North Africa amid Hormuz crisis

> LEADERSHIP: The future city does not need to hang above the ground

> SAUDI ARABIA MARKET FOCUS: 
> COMMENT: Saudi projects hold steady
> GOVERNMENT: Riyadh looks to reset its regional defence outlook
> ECONOMY: Conflict bolsters case for Saudi economic diversification
> BANKING: Saudi lenders readjust to lower lending and deposit climate
> UPSTREAM: Aramco upstream spending gathers pace
> DOWNSTREAM: Sabic steps up Saudi petchems investment
> POWER: Saudi Arabia’s power award activity slows
> WATER: Saudi water sector hits sharp slowdown
> CONSTRUCTION: Saudi construction defies the headwinds
> TRANSPORT: Saudi infrastructure pushes forward amid conflict
> DATABANK: Saudi data indicates project spending shift

> MEED COMMENTS: 
> Dubai Inc steps in as developers turn cautious
> Saudi Arabia redirects towards AI
> Kuwait plans biggest oil and gas contract award in 10 years
> Saudi Arabia battery storage awards provide fresh lift

> GULF PROJECTS INDEX: Saudi Arabia and UAE lead Gulf index gains

> AUGUST 2026 CONTRACTS: Middle East contract awards

> ECONOMIC DATA: Data drives regional projects

> OPINION: The boomers’ last act

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