Saudi Arabia records increase while rest of GCC states slow down
Despite a pick-up in contract awards in the regions biggest projects market, Saudi Arabia, the overall value of deals let in the region returned to a decline in September.
September contract awards by country | |
---|---|
Country | Award ($m) |
Bahrain | 482 |
Egypt | 65 |
Kuwait | 396 |
Oman | 110 |
Qatar | 1,519 |
Saudi Arabia | 1,649 |
UAE | 399 |
The kingdom awarded $1.7bn-worth of contracts in September, more than double the $518m it let in August, and now leads the region in contract awards. State oil major Saudi Aramco awarded the largest deal, a $1.2bn contract for the construction of a residential camp in Fadhili.
In contrast, the overall value of deals awarded across the region fell to $7.1bn from $9.4bn in August. The number of contracts let decreased to 27 from 51 in August, with slowdowns in almost all of the GCC countries. This is the second-lowest value of contracts awarded in a month this year, surpassed only by the $7bn of awards in May.
The UAE also recorded a noticeable slump in September contract awards. The country let a mere $399m of deals, compared with $2.5bn in August. Qatar yet again overtook the UAE, with two deals let worth a total of $1.5bn, both by the Public Works Authority (Ashghal).
Bahrain saw a dip in activity in September, recording just one contract award by the Ministry of Works for the Muqaba sewerage network project. However, the country managed to award the third-largest value of deals. In September, Bahrain let $482m of deals, compared with Augusts $906m.
Contract awards on www.meedprojects.com | |||
---|---|---|---|
Country Name | Project | Industry | Contract Value ($m) |
Saudi Arabia | Saudi Aramco - Yanbu-North Jeddah Products Pipeline | Oil | 300 |
UAE | Damac Properties - Akoya by Damac: Carson (Tower C) | Construction | 40 |
Saudi Arabia | MOWE - Wastewater Transmission Line Buraidah - Phase 2 | Water | 20 |
Kuwait | United Real Estate - Daiya Mixed Use Real Estate : Infrastructure Package | Transport | 60 |
Egypt | EETC - 500kV South Helwan To Zahraa El-Maadi OTL | Power | 47 |
Saudi Arabia | NWC - Riyadh City Strategic Plan Phase 2: Contract A6 (Tender No. PR 202151092) | Water | 15 |
Oman | Jiangsu Changbao Steel Tube Co - Pipe Factory at Sohar | Industrial | 20 |
Saudi Arabia | Saudi Aramco - Pedestrian Bridge in Dhahran | Transport | 18 |
UAE | Dubai Municipality - DM Office at Hor Al Anz East (Plot No. 1330552) | Construction | 20 |
UAE | ADM - Internal Roads & Infrastructure:MBZ City (District 2) (Tender no: 54/2015) | Transport | 35 |
Kuwait | MEW - Replacement of 300/132/33kV Overhead Power Lines | Power | 56 |
UAE | Nakheel - Residential Development at Nad Al Sheba Third: Package 4 | Construction | 51 |
Oman | PDO - Saih Rawl Open Cycle to Combined Cycle Gas Turbines | Power | 90 |
UAE | Damac Properties - Akoya by Damac: Carson (Tower B) | Construction | 40 |
Qatar | Ashghal-Expressway Programme:Al Bustan Street North(P007-P2-C7) IA 15/16 C002 ST | Transport | 789 |
Kuwait | United Real Estate - Daiya Mixed Use Real Estate Project | Construction | 0 |
Kuwait | KOC - Crude Transit Pipeline from North Kuwait to CMM | Oil | 280 |
UAE | Miral Asset Management - Yas Island : Sky Venture | Construction | 55 |
Qatar | Ashghal - Expressway Programme: E ring road North-South Link (P008-C2) | Transport | 730 |
UAE | Damac Properties - Akoya by Damac: Carson | Construction | 0 |
Saudi Arabia | SEC - 380kV Substation at Rwabe | Power | 96 |
UAE | Chain Holding - Eclipse Twin Tower Commercial Building | Construction | 93 |
UAE | Star Energy Oil Tanking - Jafza Terminal Expansion Project | Oil | 25 |
Egypt | TCI Sanmar Chemicals - Calcium Chloride Plant | Chemical | 18 |
Saudi Arabia | Aramco - Fadhili Residential Camp | Construction | 1,200 |
UAE | Damac Properties - Akoya by Damac: Carson (Tower A) | Construction | 40 |
Bahrain | Bahrain Ministry of Works - Muqaba : Sewerage Network Project | Transport | 482 |
Kuwait recorded the fourth-largest value of contract awards, but is also far off its August value. The country awarded $396m of deals in September, compared with $2.4bn in August.
Looking forward, the UAE is forecast to award the largest value of contracts by a large margin in the fourth quarter of this year, followed by Saudi Arabia, Qatar and Kuwait.
Net value of projects under execution ($m) | |
---|---|
Country | Grand Total |
Saudi Arabia | 1,649 |
UAE | 399 |
Kuwait | 2,836 |
Egypt | 65 |
Oman | 110 |
Qatar | 1,519 |
Bahrain | 482 |
Sum of Net Project Value ($m) | Industry | |||||||
---|---|---|---|---|---|---|---|---|
Country | Oil | Construction | Water | Transport | Power | Industrial | Chemical | Grand Total |
Saudi Arabia | 300 | 1200 | 35 | 18 | 96 | 1,649 | ||
UAE | 25 | 339 | 35 | 399 | ||||
Kuwait | 280 | 2,440 | 60 | 56 | 2,836 | |||
Egypt | 47 | 18 | 65 | |||||
Oman | 90 | 20 | 110 | |||||
Qatar | 1,519 | 1,519 | ||||||
Bahrain | 482 | 482 | ||||||
Grand Total | 605 | 3,979 | 35 | 2,114 | 289 | 20 | 18 | 7,060 |
Read previous contract awards.
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