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    Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

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    How Strategic Investments, Technology, and Finance Are Reshaping Agriculture

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    Egypt, Poland Explore Agri-Tech and Investment Opportunities

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    Egypt Enhances Water Management Using Satellite Technology

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    Egypt Reaches 60% Self-Sufficiency in Red Meat, Near Full Self-Sufficiency in Poultry

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    GCC Population Reaches 61.2 Million, Growing by 2.1 Million in 2024

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    Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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    Green Certifications: A Strategic Imperative for GCC Food Producers

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    UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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      Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

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      Iraq’s Development Road: A New Contender in Global Trade Routes?

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      UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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      Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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      Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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      Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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      Consumer Electronics Boom Continues Across GCC, Middle East

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        Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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        Iraq Launches $400–600M Tender for Baghdad Airport Development

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        Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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        Construction Underway on Iraq’s Tallest Twin Towers in Baghdad

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        Qatar’s Construction Sector Poised for Transformation, Says New Report

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        Jeddah Tower Set to Claim Title of World’s Tallest Building

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        UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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        Iraq to Establish Four New Desalination Plants in Basra

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          Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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          Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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          Iraq and Power China International Sign Deal to Strengthen National Power Grid

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            Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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            Qatar’s Health Spending Set to Climb 14% by 2029

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            Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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            Qatar and the UK Explore Deeper Cooperation in Healthcare

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            The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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            Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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              Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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              Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

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              Oman Awards Over $600 Million in Contracts for Tourism Expansion

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              Qatar Expands Role as a Leading Global Tourism Destination

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              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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              Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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                Technological and Sustainable Innovation Drives Growth in Digital Printing

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                Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                  UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                  Dubai Launches Region’s First PropTech Hub to Back 200 Startups by 2030

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                  Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                  Consumer Electronics Boom Continues Across GCC, Middle East

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                  Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                  Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                    GCC Logistics Market Projected to Reach USD 171 Billion by 2033, Driven by E-Commerce, Infrastructure, and Technology

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                    Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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                    Iraq’s Development Road: A New Contender in Global Trade Routes?

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                    Iraq Launches $400–600M Tender for Baghdad Airport Development

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                    Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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                    Iraq to Establish Four New Desalination Plants in Basra

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                    Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                    Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                      Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

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                      How Strategic Investments, Technology, and Finance Are Reshaping Agriculture

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                      Egypt, Poland Explore Agri-Tech and Investment Opportunities

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                      Egypt Reaches 60% Self-Sufficiency in Red Meat, Near Full Self-Sufficiency in Poultry

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                      GCC Population Reaches 61.2 Million, Growing by 2.1 Million in 2024

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                      Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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                      Green Certifications: A Strategic Imperative for GCC Food Producers

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                      UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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                        Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

                        Saudi Arabia’s Jahez Acquires 76% Stake in Qatar’s Food Delivery Platform Snoonu for $245 Million

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                        Iraq’s Development Road: A New Contender in Global Trade Routes?

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                        Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                        UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                        Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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                        Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                        Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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                        Consumer Electronics Boom Continues Across GCC, Middle East

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                          Oman Launches $103 Million Tender for Salalah’s Spray Boulevard Project

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                          Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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                          Iraq Launches $400–600M Tender for Baghdad Airport Development

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                          Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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                          Construction Underway on Iraq’s Tallest Twin Towers in Baghdad

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                          Qatar’s Construction Sector Poised for Transformation, Says New Report

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                          Jeddah Tower Set to Claim Title of World’s Tallest Building

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                          UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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                          Iraq to Establish Four New Desalination Plants in Basra

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                            Iraq Accelerates Solar Energy Expansion in Public Sector

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                            Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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                            Oman Seeks Bids for Two Major Substation Projects

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                            Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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                            Qatar 2025: From Energy Powerhouse to Innovation Leader

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                            Iraq Aims for 12 GW of Renewable Energy by 2030

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                            Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

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                              Qatar Tops MENA in Healthcare Index, Ranks 18th Globally

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                              Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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                              Qatar’s Health Spending Set to Climb 14% by 2029

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                              Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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                              Qatar and the UK Explore Deeper Cooperation in Healthcare

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                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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                                Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                                Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

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                                Oman Awards Over $600 Million in Contracts for Tourism Expansion

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                                Qatar Expands Role as a Leading Global Tourism Destination

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                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

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                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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                                  Africa’s Coated Printing and Writing Paper Market Set for Steady Expansion

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                                  Middle East Printing Inks Market Outlook 2025–2033

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                                  Technological and Sustainable Innovation Drives Growth in Digital Printing

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                                  Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                                  Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                                  Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                                  Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                                  Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                                  Packaging Becomes Lifeline for Struggling Print Industry

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                                    UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                                    Dubai Launches Region’s First PropTech Hub to Back 200 Startups by 2030

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                                    Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                                    Consumer Electronics Boom Continues Across GCC, Middle East

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                                    Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                                    The Top 10 Emerging Technologies for 2025

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                                    Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                                    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

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                                      GCC Logistics Market Projected to Reach USD 171 Billion by 2033, Driven by E-Commerce, Infrastructure, and Technology

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                                      Iraq Launches $400–600M Tender for Baghdad Airport Development

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                                      Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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                                      Iraq to Establish Four New Desalination Plants in Basra

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                                      Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                                      Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                                      Home Transport & Logistics Infrastructure

                                      Construction in the Gulf booms again

                                      The Economist

                                      October 14, 2013
                                      in Infrastructure, Real Estate
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                                      After nearly three years of oil prices comfortably above $100/barrel, the Gulf is awash with liquidity and a renewed confidence, similar to that seen in 2006 08, which is manifesting itself in a second construction boom. This is led by public sector driven megaprojects, but there are also a raft of private-sector real estate developments under way. This contrasts with 2009 10, when private-sector construction activity lulled in many countries and a number of major projects were cancelled or put on hold indefinitely.

                                      The public sector in most Gulf Co-operation Council (GCC) countries continued to spend after the bursting of the regional real estate bubble in late 2008. A recent report by Qatar National Bank showed that capital expenditure recorded in GCC budgets grew in ever year since 2004 (barring a small blip in 2012) and averaged US$115bn in 2011 12, up from US$68bn in 2008. Spending was also higher as a share of GDP, at 7.1% in 2012 compared with 5.7% in 2008. Similarly, output in the regional construction sector has continued to grow in real terms over the last five years, including by around 5% in 2012, and is estimated to be about one-quarter larger than it was in 2008.

                                      Looking ahead, public capital spending is expected to remain elevated, with more private-sector activity as well. Project spending figures are hard to forecast given budget overspend and the possibility for both cancellations and the launch of new projects. However, two widely cited estimates give a rough picture of the scale of the market in the GCC. MEED Projects, a service that tracks projects in the region, estimates that the value of ongoing projects in the GCC totals US$1.5trn. Danube Building Materials, a Dubai-based company with regional operations, forecasts that nearly US$900bn will be spent on construction in the GCC up to 2020.

                                      Full steam ahead
                                      Saudi Arabia and Qatar have led the regional boom since the downturn: both their construction sectors have grown at an average of 10% in 2010 12, with signs of acceleration in 2013. In both countries, public-sector spending has led the way as they implement ambitious plans to develop their infrastructure and expand their cities. MEED Projects estimates that around US$200bn will be spent on megaprojects in Qatar in the run-up to the 2022 football World Cup, an acute focal point for many of the infrastructure projects that must be complete in time. One key component of this, the Doha Metro, is finally moving forward, with US$8bn of contracts awarded in June 2013 for the first two lines and their stations scheduled for completion by 2019. It is hoped that lessons will be learnt from the nearly five-year overrun of Hamad International Airport (now slated to open early next year) and applied to the metro, new port and extensive road-building programme. The doubling in Qatar's population in seven years—reaching 2m in September—has driven major real estate developments by private firms such as Barwa. State-owned Qatari Diar is leading the development of the largest project, Lusail City, a US$45bn coastal suburb to the north of the capital, Doha, that is planned to accommodate 200,000 people.
                                       
                                      Saudi Arabia is also improving its transport infrastructure, with plans for metros in Jeddah and the capital, Riyadh—the latter is moving ahead, with the award in August of management contracts for the six lines. It is also planning the Landbridge, a 950 km railway from Jeddah to Damman, and the Haramain High Speed Rail linking Mecca, Medinah and Jeddah to facilitate the movement of pilgrims. These four rail projects are together expected to cost over US$50bn. Meanwhile, Saudi Arabia is improving facilities in the holy cities, including the controversial US$27bn redevelopment of the Grand Mosque in Mecca and new housing projects for pilgrims in both cities. At the same time it is seeding a series of new economic cities to spread the population around the country and diversify the economy. King Abdullah Economic City on the west coast is the most ambitious, with a US$90bn price tag and a nearly complete port. The Saudi private sector is also active, and the foundations are nearing completion on Prince Alwaleed bin Talal's Kingdom Tower in Jeddah which, when complete in 2017, is slated to become the world's tallest building at 1 km in height. He is already talking about building a mile-high building next, although not necessarily in Saudi Arabia.

                                      Renewed swagger
                                      The UAE, particularly Dubai, was the epicentre of the previous construction boom, and the most adversely affected when the global economic crisis burst a bubble in the real estate sector. This was because much of the construction was being undertaken by the private sector or by state-owned developers that were heavily leveraged with debt, rather than being largely funded by hydrocarbons revenue, as in Qatar and Saudi Arabia. When the crash came, it became obvious that many of the planned developments were unrealistic, such as "The World", an archipelago of impractically located artificial islands.

                                      Nonetheless, plenty of state-led construction has continued over the last few years, funded by Abu Dhabi's oil revenue. The private sector is now re-engaging, and new grandiose schemes are emerging. In 2012, US$16bn of construction contracts were awarded in the UAE, exceeding Saudi Arabia for the first time since 2008. The largest new scheme is Mohammed bin Rashid City, announced in November 2012 by the eponymous emir of Dubai as a mixed-use development featuring the world's largest mall, a Universal Studios theme park and over 100 hotels. There is already the risk of fresh overreach in the new boom. For example, a few weeks ago a US$1bn island resort off Ras al Khaimah, themed around Real Madrid football club and announced in March 2012, was scrapped amid financial problems.
                                       
                                      Late to the party
                                      The combined construction sectors in Kuwait, Oman and Bahrain are smaller than the one in Qatar. Bahrain and Oman are restricted by their more limited hydrocarbons resources, although Oman is pressing ahead with some ambitious projects, including the development of a new port and city at Duqm in a sparsely populated region. Oman and Bahrain should benefit from US$20bn of infrastructure grants over ten years, as pledged by the four wealthier GCC states in March 2011, at the height of the Arab Spring, in an effort to create jobs and reduce the risks of political instability, although it is unclear how much funding has been provided to date.
                                       
                                      Kuwait is the odd one out in the world of GCC construction. It has significant hydrocarbons wealth, second only in per capita terms to Qatar, but it largely sat out the last construction boom, as bureaucratic hurdles and political wrangling between the elected parliament and appointed executive delayed even critical infrastructure projects, such as power stations. Its 2010 14 Development Plan was largely stillborn for the same reason. However, there have been signs of renewed life over the last year, with the awarding of long-delayed contracts for the Al Zour power station and the Subiya Causeway across Kuwait Bay. However, although the parliament elected in July appears on the surface to be more pro-government than its recent predecessors, something that would facilitate progress on infrastructure megaprojects, there are also some indications that the next parliamentary term, which starts on October 29th, could see the return of obstructionist dynamics. If the political obstacles could be overcome, which remains doubtful, Kuwait could potentially become a major projects market, given both its wealth and the relative shabbiness of its infrastructure.
                                      The Economist
                                      13 October

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