Qatar overtakes UAE while Saudi Arabia falters
August was marked by a noticeable drop in contract awards in the regions biggest projects market, Saudi Arabia. The kingdom awarded deals worth a total of $518m, compared with $1.8bn in July.
|August contract awards by country|
Despite this, the overall value of contract awards in the region increased in August to $9.4bn, compared with $8.3bn in July, with the number of contracts let rising to 51 from 45 last month. However, Augusts contract awards value is still well below the $12bn recorded in June, when Iran, the UAE and Qatar signed multibillion-dollar single deals.
Qatar overtook the UAE, which had been leading the pack for several months, in contract awards, due mainly to the award of a $2.1bn construction deal for the Al-Khor Expressway project. The country awarded five deals, compared with the UAEs 21.
The award of the $900m contract for Emirates National Oil Companys (Enocs) Jebel Ali refinery expansion propelled the UAE to second in the contract awards ranking, along with the $408m contract awarded by developer Nakheel for the Al-Khail Avenue mall in Dubai.
|Contract awards on www.meedprojects.com|
|Country Name||Project||Industry||Contract Value ($m)|
|Saudi Arabia||Saudi Aramco - Re-route Pipelines in Ras Tanura Area||Gas||450|
|Bahrain||Ghassan Ahmed Al Sulaiman Development Company - Ikea Store||Construction||53|
|UAE||Rufi Real Estate - DSC: Rufi Waterfront Residency||Construction||40|
|Qatar||MOI - General Directorate of Borders Passports,Expatriate Affairs HQ||Construction||225|
|Kuwait||MPW - 6.5 Ring Road (RA / 223)||Transport||320|
|UAE||ADM - Roads & Infrastructure Works: MBZ City: (Z 35 - 2) (Tender no: 40/2015)||Transport||23|
|UAE||Farglory Group - Al Maryah Island - Sowwah Square: Maryah Plaza : Phase 1||Construction||100|
|UAE||ADPC - Kizad : Quay Wall Expansion||Transport||100|
|UAE||Nakheel - Dragon City: Dragon Mart Furniture Showrooms (Tender No. DMS 14258)||Construction||32|
|UAE||ENOC - Jebel Ali Refinery Expansion||Oil||900|
|UAE||Emicool - Akoya by Damac: Water Pipeline Network||Water||13|
|Qatar||LREDC - Lusail Development: Retails in North Villas and Foxhills North (BP 26)||Construction||13|
|Kuwait||KOC - Jurassic Non Associated: Phase 2: East Raudhatain field (RFP2031266)||Gas||380|
|Kuwait||MPW - Main Sanitary Discharge Line from Surra to Reggae : Phase 11 (HS/191)||Transport||36|
|Bahrain||Diyar Al Muharraq - Deerat Al Oyoun||Construction||584|
|UAE||Gemini Properties - MBR City : Gemini Splendor||Construction||30|
|Qatar||Sharaka Holdings - Le Mirage Premium||Construction||155|
|Bahrain||Bahrain Ministry of Electricity & Water - Utilization of Hidd Water Tanks||Power||27|
|Bahrain||Aluminium Bahrain (ALBA) - Alba Power Station - Power Distribution Package||Power||100|
|Oman||Al Madina Real Estate - Mixed Use Development||Construction||60|
|UAE||Musanada - Zayed City District Infrastructure: North Spine (Package 2)||Transport||25|
|UAE||Musanada - Infrastructure Works for New Industrial Area in Ghayathi||Transport||29|
|Kuwait||KISR - Shagaya Regenerated Energy Technologies Plant Utilities (17/2015-2016)||Power||36|
|Qatar||PEO - Expressway Programme: Al Khor Expressway||Transport||2,100|
|Kuwait||DGCA - Aircraft Parking & Corridors(Tender no. 1/2013/2014)||Transport||41|
|Kuwait||Al Diwan Al Amiri - Kuwait Airport Expansion: Passenger Support Building||Transport||174|
|Kuwait||MPW - Al Ghouse Road From Sabah Al Salem to 7th Ring Road (RA/264)||Transport||234|
|Oman||SEZAD - Duqm Fisheries Harbour (30/2015)||Transport||157|
|Saudi Arabia||MOHE - King Abdulaziz University: College of Sciences for Men||Construction||22|
|UAE||MBRH - Makan District: Hatta: 346 Villas||Construction||80|
|UAE||Musanada - Roads, Infrastructure & Public Realm for Sector W52 - 2||Transport||29|
|Kuwait||MPW - Sheikh Jaber Al Ahmed Al Sabah Road Improvement (RA/256)||Transport||311|
|UAE||Dubai RTA : Dubai Metro - Upgrading Rolling Stock And System||Transport||160|
|Oman||PDO - Lekhwair Combined Cycle Power Plant||Power||52|
|Kuwait||MPW-Northern Regional Road from 6th Ring to Intersection No.82 (RA/259)||Transport||494|
|Qatar||Al Khaliji Bank - Al Khaliji Headquarters (Plot No.Marina-Mix40)||Construction||70|
|Egypt||ENR - ENRRP : Signal Upgrade for Cairo - Banha Line||Transport||22|
|UAE||Radar DWC - Dubai South : Aloft Hotel (Plot No. AC4-42)||Construction||30|
|Bahrain||MOH - East Hidd Housing Project : 507 Villas (A2 & A3)||Construction||54|
|Egypt||EETC -220kV Al Zafarana Substation (73/2015/2016)||Power||40|
|UAE||ADM - Roads & Infrastructure Works: MBZ City (Z 35 - 1)(Tender no: 39/2015)||Transport||28|
|UAE||DAEP - Dubai International Airport : Refurbishment & Upgrade of Concourse C||Transport||190|
|Bahrain||MOH - East Hidd Housing Project : Infrastructure Package (Phase 1)||Transport||161|
|Saudi Arabia||Miahona - Water Treatment Plant at King Khalid International Airport (KKIA)||Water||46|
|UAE||Bloom Properties - Park View||Construction||135|
|UAE||Sunflower FZE - Business Bay : Indigo InterContinental Hotel||Construction||60|
|Kuwait||KOC - Construction of Flowlines for GC - 29, 30 & 31 (RFP-2019958)||Gas||177|
|Kuwait||MPW - 7th Ring Road (Tender No - RA/240)||Transport||221|
|UAE||Emaar Properties - Springs Retail Center (Plot No.3946998)||Construction||50|
|UAE||Aldar - Shams Meera||Construction||70|
|UAE||Nakheel - Jumeirah Village Triangle : Al Khail Avenue||Construction||408|
Kuwait followed the UAE in the value of contracts awards, with a total of $2.4bn of deals awarded. The largest contract signed was for a $494m project on the Northern Regional Road. Kuwait has launched numerous road projects in the past year to address traffic congestion, particularly in Kuwait City, and to facilitate the smoother flow of passengers and goods by road across the country.
Meanwhile, the marked slowdown in contract awards in Saudi Arabia is a sign of the kingdoms determination to reform its economy and reduce capital expenditure in response to low oil prices. The government has also realised that moving back to the private developer model for power schemes is the right choice to make.
However, Saudi Arabia is forecast to lead the market in terms of contract awards for the rest of this year, followed by the UAE, Qatar and Kuwait.
|Net value of projects under execution ($m)|
|Country Name||Grand Total|
|Sum of Net Project Value ($m)||Industry|
|Country name||Water||Gas||Oil||Chemical||Transport||Construction||Power||Grand Total|
Read previous contract awards.
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