The $5.3bn of contracts awarded in Saudi Arabia failed to lift the value of deals let in the region in May, with other GCC states recording declines in award activity. A total of $9.5bn of agreements were signed in May compared with $10.4bn in April, although the value is not as low as that recorded in February ($3.6bn).

May contract awards by country
Country Award ($m)
Bahrain 10
Egypt 14
Iran 320
Jordan 60
Kuwait 979
Lebanon 157
Oman 94
Qatar 551
Saudi Arabia 5,312
UAE 2,023

The kingdom awarded its highest value of deals this year, although it only let eight contracts, the biggest a $2.9bn deal awarded to a joint venture of Turkey’s IC Ictas and the local Al-Rashid Trading & Contracting for the redevelopment of four existing terminals at King Khaled International airport in Riyadh. This contract was also the biggest awarded across the region in May.

The UAE let the second-biggest value of deals, at $2bn, a decrease on the $4.2bn it awarded in April. The largest award was a $460m contract let to the local Trojan General Contracting to build the first three precincts of the Yas Acres development in Abu Dhabi.

Kuwait awarded $979m of deals in May, although according to MEED’s projects database MEED Projects, the country did not sign a single deal in April. However, the May value is a huge decline from the $3.2bn of contracts Kuwait awarded in March.

Qatar let only $551m of deals, continuing a decline that started in March, when the country let $2.7bn of contracts. With about $261bn-worth of schemes planned or under way in the country, Qatar is the GCC’s third-biggest projects market after Saudi Arabia and the UAE, according to MEED Projects. But the consequences of the crisis now under way between Qatar, Saudi Arabia, Bahrain, the UAE and Egypt are already giving cause for concern.

If the Qatar crisis is allowed to drag on for an extended period, it is likely to have a significant negative impact on both the Qatari and GCC economy. And few markets will be worse hit than Qatar’s projects sector, with the scale of the disruption increasing the longer the blockade continues.

Contract awards as reported on www.meed.com
Country Project Contractor Client Estimated value ($m)
Egypt Build another building at the ministerial district in the new Capital City Hassan Allam Construction Government na
UAE Build the Clemenceau Medical Centre in Dubai Media City Arabian Construction Company Khansaheb Investment 82
UAE Build the first three precincts of the Yas Acres development Trojan General Contracting Aldar Properties 463
Oman Off-plot mechanical work at PDO-operated oil fields at Fahud, Lekhwair and Yibal Seeh al-Sarya Engineering Petroleum Development Oman Within $770m
Oman Work at the Qarn Alam field Galfar Engineering & Contracting Petroleum Development Oman Within $770m
UAE Construction of the Bellevue Towers project in the Downtown area of Dubai Seidco General Contracting Dubai Properties 54.5
Saudi Arabia Redevelop four existing terminals at the King Khaled International Airport in Riyadh Joint venture of Turkey’s IC Ictas and local Al-Rashid Trading & Contracting General Authority of Civil Aviation 2,900
Saudi Arabia Complete the $1.5bn Yanbu 3 power and water project Sepco 3 Saline Water Conversion Corporation na
UAE Main building work on Stella Maris project in Dubai Marina General Construction Company Bloom Properties na
UAE Build the expansion of the Jebel Ali K Station power plant in Dubai Duro Felguera Dubai Electricity & Water Authority na
Qatar Design, supply and install 35 substations, which will be for 400kV, 220kV, 132kV, 66kV and 11kV voltage levels Siemens Qatar General Electricity & Water Corporation (Kahramaa) 851
UAE Build the three-tower residential and retail complex, which will be situated at the foot of the Palm Gateway project Shapoorji Pallonji Nakheel Properties 408
UAE Main construction contract for the Soho Square development on Abu Dhabi’s Saadiyat Island Emirates Link Maltauro Bloom Properties na
Kuwait Upgrade a section of the Abdaly Highway, which will link Kuwait City with the under-construction South Al-Mutlaa City Itinera Ministry of Public Works 306
UAE Build Bloom Education’s 89,000 -square-metre Brighton College UK and Dwight School New York schools in the Al-Barsha South area of Dubai Becon Construction Bloom Properties na
UAE Soho Gardens project Emirates Link Maltauro Bloom Properties na
Saudi Arabia Renovation and upgrade of the Al-Wajh domestic airport in Tabuk, located in the northwestern region of Saudi Arabia Almabani General Contractors General Authority of Civil Aviation na
Qatar Work on a number of training sites for the Fifa World Cup in 2022 Nakheel Landscapes and Gulf Contracting Supreme Committee for Delivery & Legacy na
Saudi Arabia Engineering, procurement, fabrication, load-out, transportation, installation, hook-up and pre-commissioning of four wellhead decks, along with subsea pipelines, cables and tie-ins for the Safaniya, Zuluf and Berri oil fields National Petroleum Construction Company Saudi Aramco na
UAE Complete infrastructure at Dubai Creek Harbour’s Island District Wade Adams and joint venture partner Cyprus-based Joannou & Paraskevaides Emaar 204
Oman Work on Golf Lake Residences project in Oman Hussain Fadhil & Partners Muriya Tourism Development Company na
UAE Develop the new site of the twofour54 free zone in Abu Dhabi Aldar Properties Media Zone Authority – Abu Dhabi na
Total The full value for 54 projects across the Mena region     9,520
Data from MEED.com as of 6 June; na=Not available. For more information visit MEED Projects http://www.meedprojects.com/home

 

Contract awards on www.meedprojects.com
Country Name Project Industry Contract Value ($m)
Saudi Arabia Coca Cola – Bottling Plant in Sudair City Industrial 12
Iran Iranian Airports Holding Company – Mashhad International Airport Expansion Transport 160
UAE Adnoc Distribution- Aviation Fuel Depot at Bateen Executive Airport Oil 125
Saudi Arabia Emaar – KAEC – Industrial Valley : Infrastructure works : Phase 3 (Package 1B) Transport 13
Jordan ADC – Aqaba New Port Phase 2 : Grain Silos Terminal (Package 2) Industrial 60
UAE Dubai Hills Estate – Mohammed Bin Rashid City: Parkway Vistas Construction 18
Kuwait KOC-11kV Substation & Upgrading of Existing Substations in West Kuwait Power 19
Oman Muriya Tourism Development Company – Golf Lake Residences Construction 64
Oman Muscat Municipality – Internal Roads at Al Amirat Transport 10
UAE Abdulla Kamber Real Estate – Asiana Grand Hotel on Plot 1240932 Construction 28
UAE Masdar / Bee’ah – 30 MW Waste to Energy Plant Power 90
UAE Overseas Real Estate – Residential Building at Al Sheria (Plot B/41) Construction 12
UAE Majid Al Futtaim – Mirdif City Centre : Vox Cinema Expansion Construction 15
UAE STTS Group – Dubai South: Aircraft Painting Facility: Phase 2 Transport 22
Oman SEZAD – Duqm Refinery Service Corridor (19/2015) Transport 20
UAE Nakheel – Palm Jumeirah : Palm Gateway (Tender No. DMS 141324) Construction 408
Iran IAC – Esfahan Shahid Beheshti International Airport Expansion Transport 160
UAE FAM Holding – Al Aamra Tower Construction 30
Saudi Arabia SWCC – Water Transmission System from Shoaiba to Mina : Line B (SMWTS B) Water 224
UAE Emaar – Dubai South : Emaar South : Shallow Services & Internal Roads Transport 40
Saudi Arabia GACA – King Khalid International Airport Expansion: Terminals Upgrade Transport 2,900
Lebanon CDR – Al Hazmiah – Saoufar International Road Upgrade: Section 2 Transport 37
UAE Aldar – Yas Island : North Yas : Yas Acres : 652 Villas Construction 460
Saudi Arabia Northern Border Municipality: Hotel at Airport Road Construction 21
Qatar Qatar Airways – Oryx International School Construction 35
UAE Private Developer – Jumeirah Village Circle : Central Park(Plot No.JVC17TCP018B) Construction 30
UAE Bloom Properties – Saadiyat Island: Soho Square Construction 175
Qatar ASGHAL – RIW in Various Areas of Greater Doha Phase – 4 (PWA/GTC/064/2016) Transport 40
UAE Private Developer – Residential Development in Al Safa 1 (Plot 353 -191) Construction 56
Kuwait MPW – Upgrading of Al Bidda Roundabout (Tender No. RA/222) Transport 59
Kuwait MPW – Linking Road Between Mina Abdulla City & Wafra (Tender no. RA/238) Transport 280
UAE Emaar – Dubai Creek Harbour : Vida Hotel Construction 100
Kuwait MEW – Extension of 132 kV XLPE Ground Cables at Various Areas Phase 4 Power 49
UAE Emaar – Dubai Creek Harbour : Infrastructure Works Transport 204
UAE Dubai Hills Estate – Mohammed Bin Rashid City : Fairway Vistas Construction 18
Kuwait Mabanee – The Avenues: Phase 4 B Construction 210
Lebanon CDR – Upgrade of Tripoli-Homs Highway Transport 120
UAE Damac Properties – Akoya Oxygen : Vardon Cluster (Infrastructure Works) Transport 11
UAE Azizi Investments – Downtown Jebel Ali: Azizi Aura Construction 32
Qatar ASHGHAL – RIW in Northern Areas: Phase 2 Transport 45
Bahrain Armacell – Foam Factory at BIIP Industrial 10
Kuwait MPW – Northern Regional Road from Al Mutlaa Future City To Future Crossroads Transport 306
Qatar Supreme Committee For Delivery And Legacy – Training Sites Construction 140
Egypt SECON – Al Riyadh Secon : Phase 2 Construction 14
UAE Nakheel – 132/11kV Tulip State Substations (DMS 145578) Power 23
Saudi Arabia SWCC / Marafiq – Yanbu Power Plant: Phase 3 Power 2,000
Kuwait MEW -132kV Ground Cables for Various Locations (Phase 6) (43/2014-2015) Power 56
UAE Wasl – Port Views : Residencial Development (Plot No. 3212127) Construction 15
Saudi Arabia Emaar – KAEC – Industrial Valley : Infrastructure works : Phase 3 (Package 1A) Transport 22
Qatar Barwa Real Estate Company – Baraha Motor City (Madinat Al Mawateer) : Phase 2 Construction 31
Saudi Arabia Saudi Aramco – Rehabilitation & Maintenance of Pipelines Oil 120
Qatar RSG – Lusail Development: Langham Place Construction 260
UAE Bloom Properties – Brighton College & Dwight School (Plot No. 672-0434) Construction 36
UAE GASCO – Control System Upgrade for existing ASAB-1 Gas Processing Plants Gas 75

 

Read previous contract awards.

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