Biggest contract

$220m: Awarded to Qatar’s Midmac Contracting Company to build Qatar Foundation headquarters building in Education City, Doha

$397.6m: Value of major contract awards

5: Number of contracts awarded

For further information visit www.meed.com/contracts

The UAE is once again the Gulf’s largest projects market with $639bn of schemes planned or under way, after a substantial drop in the value of the Saudi projects market. The slide has resulted in the Gulf projects index falling by 3.1 per cent for the week up to 28 June.

Project updates
  Project Name Project Status
Kuwait Gathering Centre 31 Study
UAE Taweelah C IWPP On Hold
Saudi Arabia Tabuk Economic City On Hold
Saudi Arabia Al-Rayis Resort: Phase I Design
Iraq Diesel Power Plant Construction
For further information visit www.meed.com/meedprojects

The total value of projects planned or under way in the Saudi Arabia fell by almost 10 per cent as three projects were cancelled and six megaprojects were put on hold. One of the projects to be cancelled was the estimated $3bn Umm al-Qura Economic City in Mecca. Two projects worth a total of $1.3bn planned for the Energy Service City in Dammam were also cancelled.

The $30bn Tabuk Economic City and the $25bn Ras al-Zour Resource City, two of the six planned economic cities that have been in the pipeline since 2006, were two of the megaprojects to be put on hold.

It was not just the Saudi market that fell in value in the last week in June, the UAE was the only GCC state to not decline.

Upcoming tender deadlines
  Client Contract Submission date
Kuwait Health Ministry Al-Amiri hospital 10 July
Kuwait Kuwait Oil Company   Soil remediation 17-Jul
Saudi Arabia Interior Ministry Medical complexes 7 August 
Qatar Public Works Authority (Ashghal) Lusail Expressway  8 August
UAE Abu Dhabi Airports Company Midfield Terminal 11 September
For further information visit www.meed.com/tenders

Kuwait recorded a loss of 2.9 per cent as two megaprojects worth a total of $9bn were put on hold. The $6bn Bubiyan island and the $3bn tourism development on Failaka island were removed from the index as both plans were shelved. The total value of projects planned or under way in Qatar fell by 0.8 per cent as four projects worth a total of $2.1bn were completed. No new projects were announced.

Outside the GCC, Iran’s project index fell by 3.7 per cent as a $5bn oil and gas project was completed and two energy projects worth a total of $6.6bn were cancelled.

Iraq’s projects market fared better, as a $3.1bn diesel power project and two sanitation schemes worth $140m were launched, resulting in its index growing by 0.8 per cent. Iraq remains the region’s strongest growing market, with a 36 per cent year-on-year increase.