www.meedprojects.com
GCC 2023 Projects
Outlook
And 2022 Review
26 January 2023, MEED Webinar
Ed James, Head of Content & Research, Middle East & Africa
Edward.james@meed.com
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GCC 2023 Planned Projects Awards Report
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Listings of hundreds of projects to be awarded in 2023 with their
client, value, and status information
Project award forecasts for each market and sector for 2023
Market sizing for each market and sector
Historical data to compare the forecast with past trends
Identification of the key clients involved in 2023 contracts
Analysis of the projects pipeline
4
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2022 Review
5
2022 Review
A very disappointing 2022 especially given the recovery in 2021 and higher oil prices. Expectation at the start of the year was high, but this was not borne out by the value of
work awarded. It can be argued that the Qatargas LNG project distorted the 2021 number and that without it, 2022 was roughly in line with the previous year
Value of GCC contracts awarded 2013-22 ($m)
200,000
181,585
180,000
145,964
140,000
120,008
120,000
116,501
104,293
115,826
106,501
94,412
100,000
80,000
www.meedprojects.com
160,000
169,496
71,279
60,000
40,000
20,000
0
Source: MEED Projects
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
NEOM.com
6
2022 Review
While Saudi Arabia continued its strong performance by matching its 2021 number, it was offset by falls in the UAE and Qatar, which remain disappointing. No surprise that the
kingdom is the number one target market for GCC companies today as evidenced by contractors moving out of Qatar and UAE into Saudi. In total it comprises more than 50%
of the total GCC market. Is this a natural position given the size of its economy, population and oil production? Historically did the UAE outperform and today is its natural size?
Value of GCC contracts awarded by country, 2019-22 ($m)
60,000
53799
www.meedprojects.com
50,000
40,000
30,000
19209
20,000
14208
10,000
996
0
Source: MEED Projects
Bahrain
3426
2774
Kuwait
Oman
2019
Qatar
2020
2021
2022
Saudi Arabia
UAE
NEOM.com
7
2022 Review
Last year was all the more disappointing given the higher average oil price and subsequent increase in government revenues. The implication therefore is that there is an
increasing disconnect between the oil price and actual project market activity (which may or may not be a positive development). Or it may be there is a lag of one or two
years before the oil price has an impact
Value of GCC contract awards vs oil price, 2013-22 ($m)
120
105.87
102.97
96.29
160,000
140,000
100
80
120,000
69.7
69.72
64.04
100,000
60
52.51
49.4
80,000
41.47
40.7
60,000
40
40,000
www.meedprojects.com
180,000
Average annual oil price ($ per barre)
200,000
20
20,000
0
2013
2014
2015
2016
2017
Sum of Contract Value ($m)
Source: MEED Projects
2018
2019
Average Oil Price ($ a barrel)
2020
2021
2022
0
NEOM.com
8
Historical Performance
The general decline in projects market spending is reflected by the gradually decreasing number of projects with a value of more than $10m. At the same time, it’s clear that
the average of individual projects are going up and that the average value of each contract in the UAE is much higher than those in Saudi Arabia
Number of $10m+ GCC contracts awarded by country, 2019-22
Number of $10m+ GCC contracts awarded, 2012-22
3500
700
3,261
2500
2,268
500
2,304
383
400
2000
358
1,718
1500
1,547 1,495
1,241
300
1,305
1,277
1,057
1000
910
200
100
500
0
25
0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Source: MEED Projects
www.meedprojects.com
600
3000
Bahrain
Source: MEED Projects
37
Kuwait
2019
57
Oman
2020
50
Qatar
2021
Saudi Arabia
2022
UAE
NEOM.com
9
2022 Sector Performance
Construction is once again the largest sector after being edged out in 2021 by gas due to the Qatargas LNG expansion. It also tends to be along with the water sector the most
consistent market segment over the past few years, whereas other sectors tend to have more peaks and troughs
Value of GCC contracts awarded by sector, 2019-22 ($m)
Value of GCC contracts awarded by country and sector, 2019-22 ($m)
45000
160,000
40000
34,010
35000
www.meedprojects.com
140,000
120,000
30000
100,000
25000
80,000
18,969
20000
9,810
60,000
15000
9,310
10000
5000
7,781
7,490
40,000
20,000
3,947
3,095
0
0
NEOM.com
Source: MEED Projects
2019
2020
2021
2022
Source: MEED Projects
Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
UAE
10
Top 2022 Contracts
Top 25 GCC contracts awarded in 2022
Project
Qatargas - North Field Production Sustainability: Phase 2: Scope B
NEOM - NEOM City: Community Villages: Phase I : Five Housing Clusters
NEOM – NEOM City: Backbone Infrastructure: Drill and Blast Running Tunnels
ACWA/PIF - Renewable Energy Program: Phase 2: Shuaibah 2 Solar PV Power Plant
Saudi Aramco - ZOFD: Onshore: Hydrocarbons Processing Facilities: Package 1
Umm Al Qura - Masar: Package A: Hotel Towers
NEOM– NEOM City: Backbone Infrastructure: Drill and Blast Tunnel Section
NEOM - NEOM City: Community Villages: Phase I: 3 Housing Cluster
HIA - HIA Expansion: Phase 2B: Concourse D and E
RCRC - King Salman International Park: Royal Art Complex
Chevron Phillips Chemical/Qatar Energy - RLPP: Polyethylene Derivative Units
ASHGHAL - Al Wakrah and Al Wukair STP
QAFCO - Ammonia-7 Blue Ammonia Plant
Saudi Aramco - ZOFD: Onshore: Utilities & Water Treatment Facilities: Package 2
Qatargas – NFED: Pipelines and Topsides Facilities
NEOM - NEOM City: Community Villages: Phase I: Two Housing Clusters
DGDA - Diriyah Gate Development: Super Basement
RMH - Rua Al Madinah Development: Infrastructure Package 1 & 2
ADNOC Offshore - Umm Shaif Field Long Term Development Plan: Phase 1
NGHC – NEOM Green Hydrogen Company - Green Fuels Plant
TCFC - TUWAIQ Casting & Forging Facility
QIC - The Qiddiya Project: Resort Core: Water Park
MAF – Riyadh North Development: Mall of Saudi : Main Package
RCRC - Riyadh Sports Boulevard: Zone 5A
RCJY - Jizan Economic City: Sea Water Cooling System: Phase 1
Seven - Al Nahdah Entertainment Complex (Exit 15)
Source: MEED Projects
Country
Qatar
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Qatar
Saudi Arabia
Qatar
Qatar
Qatar
Saudi Arabia
Qatar
Saudi Arabia
Saudi Arabia
Saudi Arabia
UAE
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Sector
Gas
Construction
Transport
Power
Oil
Construction
Transport
Construction
Transport
Construction
Chemical
Water
Chemical
Oil
Gas
Construction
Transport
Transport
Oil
Chemical
Industrial
Construction
Construction
Transport
Water
Construction
Contract Value ($m)
4,500
3,500
2,780
2,560
2,500
2,000
1,850
1,500
1,360
1,333
1,300
1,186
1,100
1,000
1,000
1,000
983
974
946
900
777
750
700
689
650
650
www.meedprojects.com
The list of the top contracts awarded in the region in 2022 is dominated by Saudi Arabia as would be expected. However, there is a more even
distribution of projects across sectors
NEOM.com
11
Cashflow
Cashflow naturally tends to lag contract awards, and the effects of the decline in project spending was felt by many in the market only from 2018 onward. As illustrated below,
despite the recovery in 2021 after the Covid slump, the market is still shrinking, and it is only now that this is starting to trickle through
GCC Project Cashflow, 2013-22 ($m)
160,000
www.meedprojects.com
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
Source: MEED Projects
2013
2014
2015
2016
2017
Complete
2018
Execution
2019
2020
2021
2022
NEOM.com
12
Top 2022 Contractors and Clients
JGC leads the rankings of the top contractors by work won in 2022. Japanese contractors have been fairly quiet over the past decade but its performance along with Chiyoda’s
success on the Qatar LNG program mark a strong return for them. Another notable observation is the increasing presence of Chinese firms, with 6 of the top 20 coming from
China. On the client side, Aramco again leads the way followed by the NEOM giga project and Qatargas
0
Top GCC clients by value of work awarded in 2022 ($m)
500 1,000 1,500 2,000 2,500 3,000 3,500 4,000
0
JGC Corporation
Saudi Aramco
China Harbour Engineering Company
NEOM
Saipem
QatarGas
China Offshore Oil Engineering
National Petroleum Construction Company
Samsung Engineering
Saudi Arabian Baytur Construction Co.
Modern Building Leaders
China State Construction Engineering…
McDermott
Larsen & Toubro
Doosan Enerbility
CTCI Corporation
ROSHN
Umm Al Qura for Development &…
Royal Commission for Riyadh City
Saudi Electricity Company
Saline Water Conversion Corporation
Q Properties
Diriyah Gate Development Authority
Private Developer
Qiddiya Investment Company
Qatar Energy
Shibh Al Jazira Contracting
Acwa Power
Midmac Contracting Co
Public Investment Fund
Maire Tecnimont
Aldar Properties
China Energy Engineering Corp
National Housing Company
Guangdong Electric Power Design Institute
Qatar Fertiliser Co
ALEC
Emaar Properties
SEPCO
Abu Dhabi Ports
Source: MEED Projects
1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000
www.meedprojects.com
Top GCC contractors by value of work awarded in 2022 ($m)
Source: MEED Projects
NEOM.com
13
www.meedprojects.com
Short-term Outlook
14
2023 January Performance
Difficult to judge outlook on the basis of an incomplete month, but data suggests that the market is holding up, although still not close to the 2014-206 period
Comparison of January GCC Contract Awards, 2014 – 2023 ($m)
19,275
18,000
16,490
17,202
16,000
14,000
12,738
12,000
11,268
10,849
9,595
10,000
8,812
8,000
7,889
www.meedprojects.com
20,000
5,519
6,000
4,000
2,000
0
Source: MEED Projects
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
15
Top 25 GCC contracts awarded January 2023
Project
Chevron Phillips Chemical/Qatar Energy - RLPP: Ethane Cracker
Country
Industry
Mawani - Upgrade of Container Terminals at King Abdulaziz Port in Dammam
Saudi Aramco - Al Jafurah Seawater Reverse Osmosis Plant (IWP)
Damac Properties - Cavalli Casa Tower (Plot No. A-001-003-3827585)
Select Group/ESIC - Six Senses The Palm (Plot No. PJCRC08_200)
NWC - King Abdulaziz International Airport: Sewage Lift Station II
Elsewedy Electric - 300MW Solar Power Plant
GCCIA - 400kV Power Transmission Line Interconnection
Bloom Properties - Bloom Living: Cordoba (Phase 1)
Emaar - Emaar Beachfront: Beach Mansion Tower
Saudi Arabia
Saudi Arabia
UAE
UAE
Saudi Arabia
Saudi Arabia
Kuwait
UAE
UAE
Transport
Water
Construction
Construction
Water
Power
Power
Construction
Construction
1,860
693
436
200
180
176
150
128
122
Arada/Emaar - Naseej District Residential Complex: Vida Aljada Hotel Complex
Qatargas - Wastewater Recycle and Reuse Project (QGWP) in Ras Laffan
Damac Properties - Damac Lagoons: Portofino
Saudi Aramco - Abu Ali Bachelor Camp
Select Group - Peninsula Three
UAE
Qatar
UAE
Saudi Arabia
UAE
Construction
Water
Construction
Construction
Construction
120
120
100
90
84
ADNOC Onshore - Jebel Dhanna Crude Underground Storage Facilities (Salt Dome)
UAE
Gas
80
ADNOC - Hail and Ghasha Sour Gas Development: Offshore Pkg: Early Development
UAE
Gas
80
ADNOC - Hail and Ghasha Sour Gas Development: Onshore Pkg: Early Development
UAE
Gas
80
Capital Markets Authority - Permanent Headquarter Building in Kuwait
ADNOC Onshore - Bu Hasa SWAG CO2 EOR Pilot Project
Select Group - Peninsula Five: The Signature Collection
MOH - Saudi Housing Project: Rawabi Housing Complex in Jizan
Kuwait
UAE
UAE
Saudi Arabia
Construction
Oil
Construction
Construction
72
70
58
43
Alargan - Al Nakheel Integrated Tourism Complex: Phase 2 (Infrastructure Works)
SWCC - Water Transmission Systems of New Small Stations: Phase 2
MoWMAUP - Zinj Trunk Sewer (ZTS)
Oman
Saudi Arabia
Bahrain
Transport
Water
Water
40
32
20
Source: MEED Projects
Chemical
Contract Value ($m)
2,800
www.meedprojects.com
Qatar
16
2023 Outlook
Taking only contracts already in tender and thus most likely to be awarded this year, we have visibility on more than $110bn worth of projects. Based on this, we can see Saudi
Arabia and the UAE could grow by 20% this year, with even sharper increases in Kuwait, Oman and Bahrain (albeit from much smaller bases). The only market that could
decline in Qatar, which has still to provide clarity on its post FIFA 2022 World Cup and its project plans as part of its 2030 National Vision
Kuwait, 10,240,
9%
70,000
60,000
UAE, 23,254,
19%
Oman, 7,764,
7%
300
64,458
269%
250
250%
50,000
200
40,000
150
127%
Qatar, 10,151,
8%
30,000
100
23,254
21%
20,000
10,000
Saudi Arabia,
64,458, 54%
0
10,240
7,764
20%
Bahrain
Kuwait
Oman
Source: MEED Projects
Qatar
Saudi
Arabia
2022 Total
50
0
3,485
Contracts in tender/bid
Source: MEED Projects
10,151
(29)%
www.meedprojects.com
Bahrain, 3,485,
3%
Value of GCC contracts in tender or bid evaluation compared with 2022 totals ($m)
% change
Value of GCC contracts in tender or bid evaluation ($m)
UAE
-50
% Change
NEOM.com
17
2023 Sector Outlook
The spread of sector performance in 2023 is remarkably evenly apportioned between segments. Construction appears to be well down on 2022 but this also reflects the lower
short-term visibility of the sector and its tendence to see a quick turnover of project awards in a given year. Power, petrochemical and water projects are anticipated to
perform exceptionally well thanks to a handful of large, significant projects out to bid
Chemical,
11780, 10%
Value of GCC contracts in tender or bid evaluation compared with 2022 totals ($m)
Industrial,
2291, 2%
35,000
Power, 22773,
19%
30,000
25,000
150
132%
-19%
20,000
Gas, 14320,
12%
Source: MEED Projects
200
198%
189%
100
Oil, 12114, 10%
Transport,
15374, 13%
250
40,000
Water, 21647,
18%
54%
56%
50
15,000
0
-44%
10,000
-26%
-50
5,000
Construction,
19053, 16%
www.meedprojects.com
Value of GCC contracts in tender or bid evaluation ($m)
0
Power
Source: MEED Projects
Water
Construction
Transport
Contracts in tender/bid
Gas
Oil
2022 Total
Chemical
Industrial
% Change
-100
NEOM.com
18
Top 2023 Planned Contracts
Top Selected GCC contracts scheduled to be awarded in 2023
Project
Qatargas - North Field South Development : Two Mega LNG Trains
Marjan/RAK Hospitality/Wynn Resorts - Al-Marjan Multipurpose Integrated Resort
Adnoc - Mirfa Seawater Treatment Plant
NWC - Upgrade of Sewage Treatment Plants: 5 Packages
SPPC - 3.6GW GFPP: Qassim IPP 1 1,800 MW
SPPC - 3.6GW GFPP: Taiba IPP 1 1,800 MW
Saudi Aramco - Tail Gas Treatment Desulphurization Project
SATORP - Amiral Complex: Derivatives Unit : Package 2
Maaden/Mosaic/Sabic - Waad Al Shamal Phosphate City: DAP Package 1
ADNOC/Total/PetroChina/ENI - Umm Shaif Gas Cap Condensate Development: Phase 1
REPDO - Renewable Energy Round IV: 1,100MW Al-Hinakiyah hybrid CSP/solar project
SATORP – Amiral Complex: Mixed Feed Cracker : Mixed Feed Cracker: Package 1
Saudi Aramco - Zuluf Oil Field: Upgrade of Infrastructure works (CRPO 100)
Red Sea Global - Amaala: Utilities Package
EWEC - Al Ajban Solar PV IPP
NEOM – NEOM City: Trojena: Trojena Valley Cluster: Dams
KOC - North & South Kuwait Revegetation Project
NEOM - NEOM City: The Line: The Spine: Railway Network: Type A Works
REPDO - Renewable Energy Program Round IV: 700MW Yanbu wind IPP
Maaden/Mosaic/Sabic - Waad Al Shamal Phosphate City: DAP Package 2
NEOM - NEOM City: Oxagon: NICC: The Connector Depot
SEC/NEPCO - Saudi To Jordan Power Interconnection
NEOM – NEOM City: Oxagon: NICC: Connector South
Wasl - MGM Resort, Bellagio and Aria Hotels Development
DGDA - Diriyah Gate: Phase I: Gardens and Diriyah South Districts
Source: MEED Projects
Country
Qatar
UAE
UAE
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
UAE
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
UAE
Saudi Arabia
Kuwait
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
UAE
Saudi Arabia
Sector
Gas
Construction
Water
Water
Power
Power
Gas
Chemical
Chemical
Gas
Power
Chemical
Oil
Water
Power
Water
Construction
Transport
Power
Chemical
Transport
Power
Transport
Construction
Construction
Estimated Value ($m)
6,000
2,500
2,500
2,150
2,000
2,000
2,000
1,900
1,500
1,500
1,500
1,400
1,200
1,200
1,125
1,000
1,000
1,000
1,000
1,000
1,000
1,000
600
500
500
www.meedprojects.com
Again, in terms of contracts likely to be awarded this year, Saudi Arabia dominates. Likewise, there continues to be a fairly even spread of awards
across sectors.
NEOM.com
19
www.meedprojects.com
2024 and Beyond
20
GCC Future Pipeline
In keeping with the theme of this presentation, Saudi is by far the largest projects market in terms of its projects pipeline, with more than $1.2 trillion worth of known, planned
and un-awarded work. Construction continues to dominate with more than half of known future projects by sector
Value of known, planned and un-awarded GCC projects ($m)
1,400,000
1,202,549
Power
7%
Chemical
8%
1,000,000
800,000
$2.175
trillion
Construction
58%
Transport
12%
600,000
www.meedprojects.com
1,200,000
Gas Water
Industrial 4%
3%
3%
Oil
5%
473,794
400,000
169,753
200,000
xx.
0
Source: MEED Projects
Saudi Arabia
UAE
Oman
156,197
Kuwait
120,487
Qatar
53,158
Bahrain
21
Top Future Clients
NEOM is by far the largest future clients as befits its status as the world’s biggest project. Aramco is a familiar face as are other major clients such as
Qatargas, Aldar and Adnoc. But other clients are coming such as the ROSHN, Red Sea Global, Jeddah Central, and Diriyah Gate mega/giga projects that
are all part of the Saudi 2030 Vision
Top GCC future clients by value of known, planned and unawarded work ($m)*
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
Royal Commission for Riyadh City
QatarGas
King Abdullah City for Atomic & Renewable Energy
Aldar Properties
ROSHN
ADNOC Offshore
Emaar Properties
Abu Dhabi National Oil Company
And
NEOM at
more than
$300bn
www.meedprojects.com
Saudi Aramco
Kuwait Public Authority for Housing Welfare
Nakheel
Renewable Energy Project Development Office
National Housing Company
Red Sea Global
Qatar Public Works Authority (Ashghal)
Jeddah Central Development Co
Kuwait Authority for Partnership Projects
Diriyah Gate Development Authority
Lusail Real Estate Development Co
Duqm Development Company SAOG
Source: MEED Projects *excludes NEOM for graphical illustration purposes
NEOM.com
22
Project
NEOM – NEOM City Development Program
KA-CARE - Nuclear Power Program
RCRC - Green Riyadh
OQ/ICE/Enertech - Green Energy Oman Integrated Green Fuels Project
ROSHN - Sedra District Community Homes
ADNOC Offshore - Upper Zakum Full Field Development
JCDC - Jeddah Central Project
RCRC - King Salman International Park in Riyadh
Emaar - King Abdullah Economic City (KAEC)
PIF - King Salman International Airport
Abu Dhabi Future Energy Company (Masdar) - Masdar City
PAHW - South Al Mutlaa City
Tourism Development & Investment Company - Saadiyat Island
ASDA - The Arabian Highland
RCU - Al Ula Tourism Development
Seven - New Entertainment Complexes
RMH - Rua Al Madinah Development
Omran - Madinat Al Irfan Urban Development
KAPP - Al Zour North IWPP
PAHW / LH - South Saad Al-Abdullah Residential City
Mawani - Jeddah Islamic Port Expansion
Emaar/DP World - Mina Rashid Redevelopment
LREDC - Lusail
Emaar - The Valley
REPDO - National Renewable Energy Program
ADNOC - Hail and Ghasha Sour Gas Development
MOT - Bahrain Integrated Public Transport Network
Modon - Jizan City for Basic Industries and Conversion
ADNOC/DUSUP – Jebel Ali Gas Reservoir Project
Dubai RTA - Dubai Metro Line Development
DEWA - Mohammad Bin Rashid Al Maktoum Solar Park
Abu Dhabi Municipality - Mohammed Bin Zayed City Development
Nakheel - Dubai Islands
Source: MEED Projects
Country
Saudi Arabia
Saudi Arabia
Saudi Arabia
Oman
Saudi Arabia
UAE
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
UAE
Kuwait
UAE
Saudi Arabia
Saudi Arabia
Saudi Arabia
Saudi Arabia
Oman
Kuwait
Kuwait
Saudi Arabia
UAE
Qatar
UAE
Saudi Arabia
UAE
Bahrain
Saudi Arabia
UAE
UAE
UAE
UAE
UAE
Industry
Construction
Power
Construction
Chemical
Construction
Oil
Construction
Construction
Construction
Transport
Construction
Construction
Construction
Transport
Construction
Construction
Construction
Construction
Power
Construction
Transport
Construction
Construction
Construction
Power
Gas
Transport
Construction
Gas
Transport
Power
Construction
Construction
Estimated Value ($m)
297,529
33,550
22,398
20,000
18,281
15,999
15,625
14,344
13,628
12,000
11,857
11,714
10,954
10,300
9,823
9,773
8,410
8,137
6,910
6,700
6,628
6,490
6,450
6,231
6,079
6,015
5,900
5,393
4,952
4,651
4,618
4,411
4,392
www.meedprojects.com
Top Selected GCC Future Projects
23
www.meedprojects.com
Key Trends
24
Long-Term Projects Market Drivers
Key Drivers for Investment in Projects
Economic and
population growth
requires investment in
power and water
capacity
1
7
Energy Transition into
the Hydrogen
Economy
2
Project
Market
Drivers
3
ESG and focus on
sustainable
construction and
construction
technology
www.meedprojects.com
High population
growth drives need
for projects
4
Belt and Road Initiative
has seen sharp growth
in infrastructure
projects
Energy
independence,
renewables and gas
developments
Long-term
government visions
such as Saudi 2030
and Gigaproject
program
25
Saudi Giga Projects
The number project theme is the Saudi giga projects program that is likely to be main source of work in the region of years to come
www.meedprojects.com
GCC and Egypt real GDP growth forecast 2020-2023 (%)
Egypt market by far and away the strongest performing
26
Saudi Giga Projects
Phase 1
Phase 2
Overall duration
Announcement date
Overall Completion date
There has been year-on-year growth on giga projects over the past 5 years, and this is expected to
continue in 2023 and beyond
2017 2018
Diriyah Gate
14,000
13,108
$28.6bn
12,000
Amaala
*
AlUla
*
Rua Al Madinah
10,000
2020
2021
2022
2023
2024
2025
2026
2027
2028
*
**
*
**
Roshn
*
Jeddah Central
*
NEOM
*
Sports Boulevard
**
*
Saudi Downtown
4,000
*
King Salman International Park
3,331
Awaiting release and approval of masterplan
*
Boutique Group
*
Aseer/Al Soudah
2,000
2035
*
Qiddiya
6,000
2030
**
Red Sea Project
8,000
2029
*
SEVEN
10,718
2019
www.meedprojects.com
Total value of giga project contracts awarded
2018-2022 ($m)
*
1,157
293
0
2018
2019
2020
2021
27
2022*
Source: MEED Projects
Another major theme has been the
emergence of the hydrogen
projects sector. There are now
more than 40 greenfield hydrogen
projects planned in MENA worth in
total more than $100bn. It
represents the largest future
growth sector
www.meedprojects.com
Hydrogen
28
www.meedprojects.com
Power market spending in the MENA region
29
Source: MEED Projects
Other Trends
•
Green buildings – increasing emphasis on sustainable construction
•
Construction Technology – clients increasingly focused on the use of technologies like robotics, drones, BIM, IoT, 3D Printing which can make
construction more efficient and reduce carbon footprint
•
ESG – huge focus especially in advance of COP28. Emphasis on ESG in the supply chain, gender equality and opportunity, staff treatment, and
demands from clients
•
Resources – people and materials, particularly in Saudi Arabia, could be stretched given the expected requirements from the giga projects
program
•
Modular buildings – MMC, offsite fabrication, pods are increasingly viewed as an efficient and cost-effective means for rapid construction
•
PPP – PPP projects are finally spreading beyond the power and water sectors, with the first PPPs in education, roads, healthcare and
education either awarded in the past 2 years or in tender
www.meedprojects.com
There are a number of other trends facing the projects market
30
Q&A
Do you have any questions?
Visit buy.meed.com
or scan the QR code
Ed James
Head of Content
MEED
edward.james@meed.com
Tel: +971 50 661 4048
to buy the full GCC 2023 Planned
Projects Awards report
before 31st January 2023
www.meedprojects.com
Further $100 discount for attendees
with code: WEBINAR100
31