‘Saudi Arabia undergoing significant progress’

‘Saudi Arabia undergoing significant pro…

Sunday, 24 September 2017 06:43

In the twelve months to Q1 2017 construction as a percentage of GDP contracted from seven per cent to 6.2 per cent as backlogs continued to fall and awards in...

Technical Review Middle East weekly digest - 24th - 28th September

Technical Review Middle East weekly dige…

Sunday, 24 September 2017 04:00

Here is a brief overview of the week’s news on Technical Review Middle East, from 24th - 28th September

Economic slowdown affects GCC’s fuel consumption: Apicorp

Economic slowdown affects GCC’s fuel con…

Thursday, 21 September 2017 06:54

An economic slowdown coupled with energy reforms has adversely affected domestic fuel consumption growth across most of the GCC, and in some cases led to negative growth, according to a...

Dubai adds 50 driverless Tesla to its taxi fleet

Dubai adds 50 driverless Tesla to its ta…

Thursday, 21 September 2017 06:38

Sheikh Ahmed bin Saeed Al Maktoum, chief executive of Emirates Airline & Group, and chairman of Dubai Supreme Council of Energy, has launched 50 Tesla electric vehicles to the limo...

Gulf Glass to focus on sustainability goals for glass

Gulf Glass to focus on sustainability go…

Wednesday, 20 September 2017 06:40

Gulf Glass 2017, which is going to be held at Dubai World Trade Centre from 25-27 September 2017, is expecting to gather more than 140 stakeholders, with focus on glass...

GE to build Egypt’s first utility-scale solar power plant

GE to build Egypt’s first utility-scale …

Wednesday, 20 September 2017 06:30

General Electric’s (GE) power conversion has announced to provide a full turnkey solution to FAS Energy to build a 50MW solar power plant for Egyptian Electricity Transmission Company (EETC), a...

Konecranes delivers four reach stackers to container yard in Saudi Arabia

Konecranes delivers four reach stackers …

Tuesday, 19 September 2017 07:29

In August, Konecranes delivered four Konecranes SMV 4531 TC5 reach stackers to Saudi Arabia

RSS achieves ISO 9001:2015 accreditation for meeting health and safety standards

RSS achieves ISO 9001:2015 accreditation…

Tuesday, 19 September 2017 06:55

Rental Solutions & Services (RSS), the go-to partner for temporary power and cooling rental solutions in the Middle East, has achieved ISO 9001:2015 accreditation for providing quality, health and safety...

CNIM, GIC and Al Mulla consortium selected preferred investor for the waste to energy project in Kuwait

CNIM, GIC and Al Mulla consortium select…

Tuesday, 19 September 2017 05:21

A consortium composed of Constructions Industrielles de la Méditerranée (CNIM), Gulf Investment Corporation (GIC), and Al Mulla Group Holding Co (AMG) has been selected as preferred investor for the Kabd...

Mitsubishi releases special edition warehouse and forklift trucks for silver jubilee

Mitsubishi releases special edition ware…

Monday, 18 September 2017 07:48

Marking 25 years of keeping businesses in Europe, Africa and the Middle East productive, Mitsubishi Forklift Trucks has launched a special 25th-anniversary edition of its award-winning range of warehouse and...

What are the different accessories used in insulation systems?

What are the different accessories used …

Monday, 18 September 2017 06:41

In the insulation of buildings, there are essentially eight different materials used in commercial and industrial installations

Dubai Ruler announces US$3.87bn contract for world’s largest CSP plant

Dubai Ruler announces US$3.87bn contract…

Sunday, 17 September 2017 08:09

Vice-President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum has announced the largest single-site concentrated solar power (CSP) project in...

Saudi Arabia to launch nuclear power tender in October

Saudi Arabia to launch nuclear power ten…

Sunday, 17 September 2017 05:28

Saudi Arabia is expected to launch a tender process for its first nuclear reactors as early as next month and will reach out to potential vendors from countries including South...

Technical Review Middle East weekly digest - 10th - 14th September

Technical Review Middle East weekly dige…

Sunday, 17 September 2017 04:00

Here is a brief overview of the week’s news on Technical Review Middle East, from 10th - 14th September 2017

Safety-boost for the engine

Safety-boost for the engine

Wednesday, 13 September 2017 09:00

The Reuschling case study shows that COTS is the ideal solution for locomotive renovation

The new CAT 426F2 expands backhoe loader line

The new CAT 426F2 expands backhoe loader…

Wednesday, 13 September 2017 05:11

Offering a highly configurable design, the new CAT 426F2 backhoe loader with side shift frame provides customers with additional choices, allowing the selection of a more base-specification model or a highly...

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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