$7.9bn: Awarded to the international consortium led by local Al-Shoula Group for phase 2 of Saudi Arabia’s Haramain railway
$10.8bn: Value of major contract awards
4: Number of contracts awarded
For further information visit www.meed.com/contracts
The Gulf Projects index saw little change in the seven days up to 19 July, recording only a 0.1 per cent increase over the previous week, according to the latest figures from regional projects tracker MEED Projects.
Growth in the Saudi, Qatar and Oman markets counteracted the 1.3 per cent fall in Bahrain’s projects market. Political instability continues to thwart Bahrain’s market, with the $800m Raffles City real-estate development the latest scheme to be put on hold.
|Project Name||Project Status|
|UAE||Lu’Lvat al-Raha||On Hold|
|Qatar||New Orbital Highway and Truck Road||Prequalification|
|UAE||Ruwais Hydrogen Processing Facilities||Tender|
|For further information visit www.meed.com/meedprojects|
Qatar saw the biggest increase in project activity in the region, recording a 0.9 per cent rise in the value of projects planned or under way. The increase was due to the launch of 13 new projects worth a total of $2.1bn. The majority of the new projects are part of the Doha Expressway road scheme.
Saudi Arabia’s projects market grew by 0.3 per cent as 19 projects worth a total of $2bn were added to its project index. The largest of these is the Health Ministry’s estimated $427m project to expand the King Faisal Specialist Hospital in Jeddah. Twelve of the new schemes, worth a total of $781m, were university projects.
|Upcoming tender deadlines|
|Kuwait||Kuwait Oil Company||Soil remediation||2-Aug|
|Saudi Arabia||Interior Ministry||Medical complexes||7 August|
|Qatar||Public Works Authority (Ashghal)||Lusail Expressway||8 August|
|Kuwait||Health Ministry||Al-Amiri hospital||9 August|
|UAE||Abu Dhabi Airports Company||Midfield Terminal||11 September|
|For further information visit www.meed.com/tenders|
The UAE, which recently replaced Saudi Arabia as the region’s biggest projects market, recorded a fall of 0.3 per cent as three projects worth a total of $600m were put on hold.
Outside the GCC, Iran’s projects market remained flat and Iraq’s fell by 0.1 per cent. Iraq maintains its position as the region’s fastest growing projects market, recording a 49 per cent year-on-year increase.
Update note: As part of a data clean-up initiative, MEED Projects has removed a number of dormant projects from its database. The initiative has resulted in a reduction in the overall value of the projects in the database.