Qatar records huge decline, while Egypt picks up pace
A sharp decline in contract awards in Qatar set the tone for overall deal activity in the region in October.
October contract awards by country | |
---|---|
Country | Award ($m) |
Bahrain | 154 |
Egypt | 779 |
Jordan | 86 |
Kuwait | 527 |
Oman | 398 |
Qatar | 15 |
Saudi Arabia | 1021 |
UAE | 1,708 |
The value of contract awards in the region fell steeply to $4.9bn, the lowest ever value this year, from $7.1bn in September a 31 per cent drop. The value awarded in September was itself the second-lowest value of contract awards in 2016.
The worst-performing market, Qatar, recorded a whopping 99 per cent decrease, from $1.5bn of deals let in September to $15m in October. The only award was made by state-owned Qatar Petroleum for a fire station in Ras Laffan industrial city.
Egypt made a huge turnaround in contract activity, with $779m of deals let in October compared with $65m in September. The country awarded the second-largest deal, with a $300m contract awarded to UK-based Subsea 7 by the local Pharaonic Petroleum Company for the installation of pipelines and associated infrastructure at the Atoll offshore field.
Saudi Arabia and the UAE continued their usual trend of propping up of the regional market, with the kingdom awarding $1bn of deals, a slight decrease from the $1.7bn in September, while the UAE let $1.7bn of deals, compared with $399m the previous month.
Kuwait and Oman both recorded an increase in contract awards, while Bahrain saw a decline to $154m from $482m in September. The country had awarded $906m of deals in August.
Net value of projects under execution ($m) | |
---|---|
Country Name | Grand Total |
Oman | 616 |
UAE | 1,738 |
Bahrain | 154 |
Kuwait | 527 |
Egypt | 779 |
Saudi Arabia | 1,021 |
Jordan | 86 |
Qatar | 15 |
Grand Total | 4,936 |
The largest contract award was made in Saudi Arabia, towith state oil major Saudi Aramco awarding South Koreas Hyundai Engineering & Construction a $727m deal for its Uthmaniyah ethanol feed recovery project.
The third-biggest deal was awarded in Oman. The Special Economic Zone Authority of Duqm (Sezad) awarded a joint venture of Turkeys Serka Taahhut Insaat and Portugals MSF Engenharia a $278m contract to build the infrastructure of the commercial quay at the Duqm port.
Looking forward, the UAE is forecast to award the largest value of contracts in the fourth quarter of this year, followed by Saudi Arabia.
Contract awards on www.meedprojects.com | |||
---|---|---|---|
Country Name | Project | Industry | Contract Value ($m) |
Oman | PDO - Yibal, Fahud & Lekhwair Earthwork Project | Gas | 120 |
UAE | Nakheel - Residential Development at Nad Al Sheba Third : 132kV Substation | Power | 30 |
Bahrain | CRC - Dilmunia Health Island : Waterfront Villas | Construction | 55 |
Kuwait | MEW - Al Zour South Conversion to Combined Cycle : Phase 3(56-2014/2015) | Power | 204 |
Oman | PDO - Qarn Alam and Sahi Rawl Earthwork Project | Oil | 200 |
Egypt | Nubian for Renewable Energy - 50 MW PV Power Plant in Benban | Power | 90 |
UAE | Emirates REIT - British Columbia Canadian School at DIP | Construction | 20 |
UAE | Al Ghurair Real Estate - Downtown Dubai : 2 Hotel Building | Construction | 15 |
UAE | Dubai Municipality - Mohammed Bin Rashid Library | Construction | 245 |
UAE | Private Developer - Barsha Heights : Mixed Use Development(Plot no.C-005-001) | Construction | 40 |
Saudi Arabia | Saudi Aramco- Gas Treatment Units at Uthmaniyah | Gas | 727 |
UAE | Namaa Properties Development - Business Bay: Paramount Tower Hotel & Residences | Construction | 150 |
UAE | Bee’ah - New Headquarter Building | Construction | 45 |
Saudi Arabia | EETC / SEC - Saudi Egypt Power Interconnection: Submarine Cable/ Land Cable | Power | 95 |
Oman | SEZAD - Roads, Infrastructure & Buildings at the Commercial Terminal at IP2 | Transport | 278 |
UAE | Dubai RTA - Business Bay : Parallel Roads Corridor (Contract No. R881/282) | Transport | 100 |
UAE | Line Investments & Property - Reem Island: Y Tower Reem | Construction | 40 |
Oman | RAEC - Network & Substations in Wilayat Masirah-South Al Sharqiyah(26/15) | Power | 18 |
Saudi Arabia | Rana Investment Company - Clemenceau Medical Center : Medical Tower (200 beds) | Construction | 120 |
UAE | Ras Al Khaimah Government - Sewage Treatment Plant (STP) Ras al-Khaimah | Water | 40 |
Bahrain | BNGEC - Field Pipelines and Sitra Storage Expansion Project | Gas | 99 |
UAE | Deira Waterfront Development - Mixed Used Buildings (Plot No - 1114730 - 03) | Construction | 163 |
UAE | DIFC - Gate Avenue | Construction | 136 |
Egypt | ARC Renewables - 50 MW Power Plant in Aswan | Power | 90 |
Kuwait | MEW - Supply & Extension of 132kV XLPE Cables: Phase 5 (MEW/41-2014/2015) | Power | 45 |
UAE | FEWA - Supply System: Treated Waste Water from Tanqia Plant to Fujairah | Water | 35 |
UAE | Badr Development - Jumeirah Village:Residential Building(Plot No: JVC11YHRG001B) | Construction | 42 |
Egypt | CAPW - Abu Oweiqal Water Treatment Plant and Discharge Pipeline | Water | 169 |
UAE | Danube - Al Furjan : Starz (Ritz) | Construction | 30 |
UAE | MBRH - 397 Villas in Oud al Muteena (Main Works) | Construction | 154 |
UAE | Seven Tides Development - Movenpick Ibn Battuta Gate Hotel Refurbishment | Construction | 25 |
Jordan | ADC- Aqaba Oil Terminal : Phase 2 | Oil | 12 |
UAE | Al Ghurair Real Estate - Al Hamriya Residential Development (Plot No. 313-0435) | Construction | 16 |
UAE | Dubai Municipality - Labour Accommodation at Hatta (131 Units) | Construction | 20 |
UAE | Private Developer - Hotel Building At Dubai Biotechnology And Research Park | Construction | 30 |
UAE | DWTC / Emaar Properties - Expo 2020 Development : Project Star | Construction | 160 |
Egypt | Pharaonic Petroleum Company - Construction & Installation at Atoll Field | Gas | 300 |
Egypt | Abu Dhabi Capital Group - Zodiac | Construction | 50 |
Egypt | NAT - Cairo Metro Network : Line 3 - Phase 4 : Package 4B : Signalling Systems | Transport | 80 |
Qatar | QP - Fire Station No.6 at Ras Laffan | Construction | 15 |
Saudi Arabia | GOSI - Granada Oasis Development Expansion | Construction | 66 |
Kuwait | PAHW - Jaber Al Ahmed Township: CAMUZ - Infrastructure Package | Transport | 254 |
Saudi Arabia | Maaden - Smelter Pot Relining Facility | Industrial | 13 |
UAE | Patchi - Dubai Industrial City : Chocolate Factory | Industrial | 20 |
Kuwait | PAYS - Al Arabi Club: Al Khateeb Hall(Tender No - PAYS/4/2014/2015) | Construction | 24 |
UAE | DAEP - Modular Data Centre Complex (MDCC) | Transport | 20 |
Jordan | Adenium Energy Capital - Solar Photovoltaic Power Plant (15MW) | Power | 74 |
UAE | ADM- Sheikh Zayed Bin Sultan Street: Al Falah Junction to Qasr Al Bahr Junction | Transport | 15 |
UAE | MOID - Improvement & Upgrading of Hamad Bin Abdulla Road (Tender No. 141/2015) | Transport | 60 |
UAE | Reem Al Sahari - Palm Jumeirah : Hotel (Plot No: PJCRC32G) | Construction | 30 |
UAE | Danube - Al Furjan : Glamz Residence (Plot No. AFMU003A_2B_4A) | Construction | 30 |
UAE | VPS Healthcare - Rehabilitation of Burjeel Hospital in Al Ain | Construction | 3 |
UAE | Al Ghurair Group - 3 Buildings at Muraqqabat (Plot No.1240387) | Construction | 24 |
Sum of Net Project Value ($m) | Industry | |||||||
---|---|---|---|---|---|---|---|---|
Country name | Gas | Power | Construction | Oil | Transport | Water | Industrial | Grand Total |
Oman | 120 | 18 | 200 | 278 | 616 | |||
UAE | 30 | 1,418 | 195 | 75 | 20 | 1,738 | ||
Bahrain | 99 | 55 | 154 | |||||
Kuwait | 249 | 24 | 254 | 527 | ||||
Egypt | 300 | 180 | 50 | 80 | 169 | 779 | ||
Saudi Arabia | 727 | 95 | 186 | 13 | 1,021 | |||
Jordan | 74 | 12 | 86 | |||||
Qatar | 15 | 15 | ||||||
Grand Total | 1,246 | 646 | 1,748 | 212 | 807 | 244 | 33 | 4,936 |
Read previous contract awards.
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