GCC ‘reboots’ its economic agenda

GCC ‘reboots’ its economic agenda

Monday, 05 December 2016 07:16

The six-member Gulf Cooperation Council (GCC) – Saudi Arabia, the United Arab Emirates (UAE), Kuwait, Qatar, Bahrain and Oman – represents one of the wealthiest country groupings in the world,...

DEWA introduces world’s first virtual reality utility inspection project

DEWA introduces world’s first virtual re…

Sunday, 04 December 2016 10:32

Dubai Electricity and Water Authority (DEWA) has launched a pilot project for the world’s first virtual reality (VR) remote inspection for utility maintenance

DP World and CDPQ sign investment platform deal

DP World and CDPQ sign investment platfo…

Friday, 02 December 2016 15:15

DP World has announced the creation of an investment vehicle in partnership with Caisse de dépôt et placement du Québec (CDPQ), one of North America’s largest pension fund managers

Kuwaiti company to build manufacturing plant in KIZAD

Kuwaiti company to build manufacturing p…

Thursday, 01 December 2016 07:02

Abu Dhabi Ports and Khalifa Industrial Zone (KIZAD) have signed a Musataha agreement with Integral Plastic Industries to build a new manufacturing plant in KIZAD with an investment of US$2.7mn

Volvo CE launches new global website

Volvo CE launches new global website

Wednesday, 30 November 2016 10:33

Volvo Construction Equipment (Volvo CE) has unveiled its new global websitefollowing the recent roll-out of over 120 dealer and market websites around the world

FM EXPO Saudi and Saudi Clean Expo set to debut next year

FM EXPO Saudi and Saudi Clean Expo set t…

Wednesday, 30 November 2016 10:29

Being the largest facilities management market in the GCC, Saudi Arabia’s sector is rising from being worth an estimated US$20.3bn in 2014 to a forecasted US$29bn by 2017

Schneider Electric introduces world’s first ePAC for IIoT in GCC

Schneider Electric introduces world’s fi…

Tuesday, 29 November 2016 08:59

Schneider Electric, specialist in energy management and automation, has introduced its new high-end Modicon M580 Ethernet programmable automation controller (ePAC) to the GCC region

Xylem Inc. buys water analytics company Visenti

Xylem Inc. buys water analytics company …

Monday, 28 November 2016 07:23

Xylem Inc., a global water technology provider, has acquired Visenti Pte Ltd, a Singapore-based smart water analytics company that provides a suite of advanced products and services to enable smart...

Swisslog brings automation expertise to Saudi Arabia

Swisslog brings automation expertise to …

Monday, 28 November 2016 06:35

Swisslog, automation expert for robot-based and data-driven intralogistic solutions, will be showcasing its latest warehouse automation solutions and new picking technologies for forward-thinking customers in Saudi Arabia and the bordering...

Dynamic new products and innovations displayed at Middle East Concrete & PMV Live 2016

Dynamic new products and innovations dis…

Friday, 25 November 2016 07:45

With a number of iconic infrastructure projects in the pipeline for the GCC, innovation remains the focus for the region’s infrastructure and heavy industry

Siemens and Bentley Systems join forces

Siemens and Bentley Systems join forces

Friday, 25 November 2016 07:24

Siemans and Bentley Systems advance strategic alliance including joint investment initiatives, realising new growth opportunities in industry and infrastructure through integration of complementary digital engineering models 

BREEAM resource for the Middle East launched at Big 5

BREEAM resource for the Middle East laun…

Thursday, 24 November 2016 10:57

Bre Global launched a dedicated resource for the delivery of BREEAM, the internationally recognised measure of sustainability for master planning, infrastructure and built environment at The Big 5 2016

MEC/PMV to diversify from The Big 5, return as standalone event in 2018

MEC/PMV to diversify from The Big 5, ret…

Thursday, 24 November 2016 08:16

Co-located with The Big 5 for the last six years, MEC/PMV is looking forward to carve out as an independent event starting 2018. To be hosted at Dubai World Trade...

‘Made in Italy’ at the Big 5

‘Made in Italy’ at the Big 5

Thursday, 24 November 2016 07:08

The Italian Trade Agency in collaboration with Made Expo hosted ‘Made Expo 2017: Made in Italy Construction Solutions and Materials’ at the Big 5

UAE mega-projects rank among the most innovation and least wasteful

UAE mega-projects rank among the most in…

Thursday, 24 November 2016 07:01

Legoland Dubai headlines UAE mega-projects that have been recognized as among the world’s most innovation, industry experts announced today ahead of The Big 5 construction exhibition

The competition ramps up at the Action Zone at MECPMV Live 2016

The competition ramps up at the Action Z…

Wednesday, 23 November 2016 07:54

Thousands of visitors expected at the region’s largest dedicated infrastructure and heavy machinery event

Saudi Arabia ranks top in Mena construction market

Saudi Arabia viewThere is a potential pipeline of US$374bn projects to be awarded during the period Q3 2012-2013 in the UAE, Qatar, Egypt and Saudi Arabia. (Image source: Mini D)Saudi Arabia will grant approval for US$200bn worth of projects in the Middle East and Northern Africa (MENA) region during Q3 2012-2013, according to a new report

The country ranks first for active construction, with 1,026 projects costing $1.1 trillion currently in progress, representing the largest construction market in the MENA region. 

The Bank of America Merrill Lynch report, which assessed Meed contract awards data, revealed the majority of projects will be awarded in Saudi Arabia, (53.7 per cent) followed by the UAE, Qatar and Egypt. 

The total pipeline of construction and infrastructure project awards for the four countries stands at $157 billion and $110 billion (41.9 per cent and 29.5 per cent of the total, respectively), according to the report.

In Saudi Arabia, the pipeline of construction and infrastructure project awards are $90 billion and $39 billion, respectively (45 per cent and 19 per cent of the total).

Kuwait and Iraq construction in particular pushed down the total although year-to-date contract awards in the UAE, Qatar and Saudi Arabia increased by 25 per cent to $41bn, the report said.

During the past year, Egypt saw the largest number of projects cancelled and postponed while Qatar experienced the biggest rise in projects entering tender mode.

The UAE market has now transformed positively regarding its previous problem of severe project rationalisation and cancellations. $450bn worth of projects were put on hold between March 2010 and October 2011.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
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