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 UAEs 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 UAEs index was a project to build three towers worth $157m in Sharjah.
|Project Name||Project Status|
|Iran||Yazd agglomeration plant expansion||Complete|
|Iraq||Salahaddin heavy oil project||On hold|
|UAE||Dubai Lifestyle City: Pacific Emerald||Cancelled|
|Saudi Arabia||Sulfur railcar loading facilities at Berri Gas Plant||Main contract bid|
|For further information visit www.meed.com/meedprojects|
Among the new projects announced was Dubai Electricity & Water Authoritys $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 utilitys building in Dubais 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 Arabias 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|
|Oman||Oman Power & Water Procurement Company||Qurrayat water project||08-Sep|
|Saudi Arabia||Mecca Municipality||Mecca Metro: phase 1||08-Sep|
|Dubai||Dubai Electricity & Water Authority||M station expansion||15-Sep|
|Kuwait||Ministry of Electicity & Water||Overhead lines – various locations||16-Sep|
|Oman||Transport & Communications Ministry||Batinah Expressway: package 8||22-Sep|
|For further information visit www.meed.com/tenders|
Over the week Iraqs project market stabilised, staying flat at $487bn after five straight weeks of declines.
Iraqs 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 Energys $150m Salahaddin Heavy Oil Project in the north of Iraq.
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