South Korea to build mini-LNG plants in Iran

South Korea to build mini-LNG plants in …

Tuesday, 27 June 2017 04:50

Iran has announced that it is working on a plan to develop sophisticated mini-LNG plants with South Korea to answer energy needs in remote areas of the country

Kaesar Kompressoren provides ideal solution for Industrie 4.0

Kaesar Kompressoren provides ideal solut…

Tuesday, 27 June 2017 04:30

Compressed air and Industrie 4.0 – Kaeser Kompressoren has the right solutions for deriving maximum benefit from this powerful combination

‘MEA’s new wind power capacity set to rise 40 GW by 2026’

‘MEA’s new wind power capacity set to ri…

Monday, 26 June 2017 06:05

MAKE Consulting recently revealed that the wind power capacity in the Middle East and Africa (MEA) region amounted to 676MW in 2016, as compared to 682MW in 2015, but has...

Immensa launches first 3D printing facility in the UAE

Immensa launches first 3D printing facil…

Sunday, 25 June 2017 06:08

Immensa Technology Labs, UAE’s leading additive manufacturing (AM) company, has launched the first 3D printing facility in Dubai, which comprises eight 3D printing systems and more than 30 materials for...

Technical Review Middle East  weekly digest - 18th June - 22nd June

Technical Review Middle East weekly dig…

Sunday, 25 June 2017 04:00

Here is a brief overview of the week’s news on Technical Review Middle East, from 18th June - 22nd June 2017

Bio-diesel helps keep Glastonbury running

Bio-diesel helps keep Glastonbury runnin…

Friday, 23 June 2017 16:01

Britain’s best-known music festival has once again opened its gates, this year with sunny days and balmy temperatures

AUD students design door handles for Dubai Expo 2020 pavilion

AUD students design door handles for Dub…

Friday, 23 June 2017 06:12

American University in Dubai (AUD) has teamed up with the global security provider Dormakaba, aiming to provide opportunity to the students to design lever handles for Expo 2020 mobility pavilion

QCC unveils solar PV scheme to support adoption of solar energy in Abu Dhabi

QCC unveils solar PV scheme to support a…

Wednesday, 21 June 2017 07:01

Abu Dhabi Quality and Conformity Council (QCC), responsible for developing quality infrastructure and raising awareness on quality standards in Abu Dhabi, has unveiled a conformity assessment scheme to verify the...

Saudi Arabia and Bahrain causeway project invites expressions of interest

Saudi Arabia and Bahrain causeway projec…

Wednesday, 21 June 2017 06:05

With Saudi Arabia and Bahrain planning to build a new road and rail causeway linking the two countries, expressions of interest (EoI) have been invited from the private sector developers,...

Concession agreement to develop, manage and operate Fujairah Port

Concession agreement to develop, manage …

Wednesday, 21 June 2017 04:58

A 35-year concession agreement between Abu Dhabi Ports and the Port of Fujairah was signed recently

Traxys signs antimony supply deal with Oman’s SPMP

Traxys signs antimony supply deal with O…

Tuesday, 20 June 2017 06:14

Luxembourg-based Traxys Europe has signed contract with Oman’s Strategic and Precious Metals Processing (SPMP), a partnership that is aimed at supplying antimony-gold concentrates to the Oman Antimony Roaster (OAR), which...

Abraaj Group divests stake in Careem to Kingdom Holding Company

Abraaj Group divests stake in Careem to …

Tuesday, 20 June 2017 04:26

The Abraaj Group announced that it has divested shareholding in Careem, the UAE’s leading transportation network company, to the Saudi Arabia’s conglomerate Kingdom Holding Company

Averda wins UAE’s ‘Waste Management Company of the Year’ award

Averda wins UAE’s ‘Waste Management Comp…

Monday, 19 June 2017 06:32

Averda, an environmental solution provider in Middle East and Africa, has received ‘UAE Waste Management Company of the Year Award-Private Entity’ at the Frost & Sullivan’s Excellence in Best Practices...

Technical Review Middle East weekly digest - 11th - 15th June 2017

Technical Review Middle East weekly dige…

Sunday, 18 June 2017 04:00

Here is a brief overview of the week's new on Technical Review Middle East, from 11th - 15th June 2017

Hargeisa joins Air Arabia’s growing African network

Hargeisa joins Air Arabia’s growing Afri…

Thursday, 15 June 2017 06:48

Two weekly flights connecting Sharjah and Hargeisa starting 4 July 2017

UAE Government of Umm Al Qaiwain, FEWA to develop desalination plants

UAE Government of Umm Al Qaiwain, FEWA t…

Thursday, 15 June 2017 06:37

H.H. Sheikh Rashid bin Saud bin Rashid Al Mu'alla, Crown Prince of Umm Al Qaiwain and Chairman of the Umm Al Qaiwain Executive Council, on Sunday witnessed the signing of...

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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