UAE and Qatar support index growth

21 August 2014

Along with Iran, the UAE and Qatar see the most activity in the Gulf Projects Index

The Gulf Projects Index saw an increase of 0.1 per cent in the week ending 19 August, driven mainly by gains in the UAE and Qatar.

The UAE’s market grew by $1.19bn, the biggest expansion in dollar value out of any Gulf nation, assisted by a raft of construction projects that were either newly announced or revived after being put on hold. One of the revived schemes supporting the UAE’s index was a project to build three towers worth $157m in Sharjah.

Project updates
 Project NameProject Status
IranYazd agglomeration plant expansionComplete
IraqSalahaddin heavy oil projectOn hold
UAEDubai Lifestyle City: Pacific EmeraldCancelled
UAEMixed-use towerRevived
Saudi ArabiaSulfur railcar loading facilities at Berri Gas PlantMain contract bid
For further information visit www.meed.com/meedprojects

Among the new projects announced was Dubai Electricity & Water Authority’s $200m scheme to construct a Supervisory Control and Data Acquisition Centre to regulate water supply and manage the water transmission network. The network covers a total distance of more than 2,500 kilometres and includes several pumping stations and reservoirs.

The centre is set to be located in the utility’s building in Dubai’s Al-Quoz area.

Qatar saw an expansion of 0.3 per cent as several new construction projects were announced, including four commercial tower blocks.

Saudi Arabia’s project market remained flat as the announcement of several transport projects was offset by the completion of a number of construction schemes.

Upcoming tender deadlines
 ClientContractSubmission date
OmanOman Power & Water Procurement CompanyQurrayat water project08-Sep
Saudi ArabiaMecca MunicipalityMecca Metro: phase 108-Sep
DubaiDubai Electricity & Water AuthorityM station expansion15-Sep
KuwaitMinistry of Electicity & WaterOverhead lines - various locations16-Sep
OmanTransport & Communications MinistryBatinah Expressway: package 822-Sep
For further information visit www.meed.com/tenders

Over the week Iraq’s project market stabilised, staying flat at $487bn after five straight weeks of declines.

Iraq’s market has lost $28.4bn since 8 July as the Islamic State in Iraq and Syria (Isis) extremist group continues to battle for more territory in the country, disrupting construction wor and putting off potential investors.

Although the week did not see a large decline in active projects, as in previous weeks, several schemes were put on hold, including Sonoro Energy’s $150m Salahaddin Heavy Oil Project in the north of Iraq.

Contract awards

Biggest contract $81.7m

Awarded to Cyprus-based GP Zachariades Group to build a cancer centre at King Hamad University in Bahrain

$81.7m Value of major contract awards

1 Number of contracts awarded

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