Bentley Systems signs digital twins deal with Atos

Bentley Systems signs digital twins deal…

Sunday, 18 November 2018 04:37

Atos, one of the leading global digital transformation solution providers, and Bentley Systems have announced a strategic partnership to create and operate digital twins on behalf of industry and infrastructure...

MAN Truck & Bus Jordan supplies 100 new vehicles to Greater Amman Municipality

MAN Truck & Bus Jordan supplies 100 …

Sunday, 18 November 2018 04:34

MAN Truck & Bus Jordan has supplied 101 MAN trucks at Greater Amman Municipality (GAM), in an initiative to make the city of Amman cleaner and greener for residents and...

Clear Blue Technologies lists on Frankfurt Stock Exchange

Clear Blue Technologies lists on Frankfu…

Thursday, 15 November 2018 10:00

Clear Blue Technologies, which provides smart off-grid power, technology, and services, has listed on Frankfurt Stock Exchange

ENEC achieves major progress in construction of Barakah Nuclear Energy Plant

ENEC achieves major progress in construc…

Thursday, 15 November 2018 06:21

The Emirates Nuclear Energy Corporation (ENEC) has completed all main concrete works and heavy equipment lifting for the four nuclear reactor units of the Barakah Nuclear Energy Plant, being built...

DP World Kigali’s logistics platform

DP World Kigali’s logistics platform

Thursday, 15 November 2018 05:30

DP World and the government of Rwanda have established a logistics hub located 20 km from the capital, Kigali, near the international airport

GCC to speed up solar conversion

GCC to speed up solar conversion

Thursday, 15 November 2018 03:48

The GCC is likely to speed up its solar energy conversion movement, reaching its 2030 target of a collective 4.6 GW photovoltaic (PV) in power generation to emerge as a...

ADIPEC 2018: Al Masaood shares global energy solutions

ADIPEC 2018: Al Masaood shares global en…

Wednesday, 14 November 2018 06:10

Al Masaood’s Projects & Engineering Services Division (PESD) has appeared at this year’s Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) to share comprehensive energy and petrochemical services in cooperation...

Glasspoint and Occidental of Oman cooperate on solar EOR project

Glasspoint and Occidental of Oman cooper…

Wednesday, 14 November 2018 04:14

GlassPoint Solar and Occidental of Oman have signed a MoU agreement aiming to lead to a large solar thermal energy plant, exceeding two gigawatts, at the Mukhaizna oilfield in Oman

Alstom’s first metro trainset comes on time in Dubai

Alstom’s first metro trainset comes on t…

Tuesday, 13 November 2018 04:28

Alstom, French multinational company operating worldwide in rail transport markets, has delivered to the Roads and Transport Authority of Dubai (RTA) the first of the 50 Metropolis trainsets that will...

ABB wins US$79mn order for Abu Dhabi’s Bab onshore project

ABB wins US$79mn order for Abu Dhabi’s B…

Tuesday, 13 November 2018 04:15

China Petroleum Engineering and Construction Corporation (CPECC) has awarded ABB an integrated automation, electrification and telecommunication order worth US$79mn for the upgrade of the Bab Onshore Field in Abu Dhabi

Tata Steel targets carbon neutral mission to oil and gas industry

Tata Steel targets carbon neutral missio…

Tuesday, 13 November 2018 04:01

Tata Steel has announced its ambition to become a carbon neutral producer of steel to the oil and gas industry from 2050 at the Abu Dhabi International Petroleum Exhibition and...

PDO and Be’ah to train and create jobs for 600 young Omanis

PDO and Be’ah to train and create jobs f…

Sunday, 11 November 2018 05:40

Petroleum Development Oman (PDO) is sponsoring the vocational training of 600 young Omanis as part of its efforts to create more than 50,000 job opportunities in and outside the oil...

BKT to build US$100mn tyre production factory in US

BKT to build US$100mn tyre production fa…

Sunday, 11 November 2018 04:20

Balkrishna Industries Limited (BKT), one of the leading India-based off-highway tyre manufacturers, has announced a US$100mn construction project for a new production site that will serve both the US markets...

Caparol Paints expands UAE portfolio, opens new showroom in Sharjah

Caparol Paints expands UAE portfolio, op…

Sunday, 11 November 2018 04:01

Caparol Paints, a global provider of German paints and coating solutions, has launched a new 1800 sq ft showroom at Beena centre, King Faisal Street, Sharjah, a move that is...

Emirates Steel signs iron ore pellet supply deal with Vale

Emirates Steel signs iron ore pellet sup…

Wednesday, 07 November 2018 04:44

Emirates Steel, leading integrated steel plant in the UAE, has signed a four-year contract with Vale, one of the largest producers of iron ore and iron ore pellets, to supply...

National Paints to inaugurate 14 showrooms in the UAE

National Paints to inaugurate 14 showroo…

Wednesday, 07 November 2018 04:34

National Paints, a leading paints brand in the MENA region, has announced to inaugurate a total of 14 new exclusive showrooms in Abu Dhabi and Al Ain in the coming...

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.

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