Analysis Infrastructure Turkey’s rebuilding goes on two years after devastating quakes Two years since twin earthquakes devastated much of Turkey’s southern region, the country is still picking up the pieces. Fewer than one-third of the 680,000 homes lost have been rebuilt so far and 600,000 people are still living in converted shipping containers. More than 53,000 people lost their lives in the February 6 earthquakes, which […] February 6, 2025
Analysis Infrastructure Oman’s infrastructure push is vital for economic turnaround Oman has made strides in enhancing its infrastructure over the past few years, but more is needed. Authorities seem keenly aware of this as they juggle costs and the health of public finances alongside broader efforts to grow the non-oil economy. Historically, the sultanate has been less open than its UAE neighbours to glitzy development […] February 4, 2025
Oil & Gas Much-delayed Kirkuk refinery deal signed by Iraq Iraq has finally signed a deal to build a refinery in the oil-rich Kirkuk province, nearly eight years after it first unveiled the project. It will be built by Iraq’s Rania Group, which is based in Sulaymaniah in the northern autonomous Kurdistan region and has vast operations in the country. The refinery is intended to […] January 31, 2025
Telecoms Ooredoo to build high-speed data network for GCC Qatari telelcoms company Ooredoo Group has signed an agreement with French company Alcatel Submarine Networks to build a new submarine cable and fibre network connecting seven countries in the region. The project, called Gulf in Fibre, will connect the six GCC countries — Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait and Oman — and Iraq […] January 31, 2025
Construction Contracts in Saudi Arabia rise 25% in value in 2024 The value of contracts issued by Saudi Arabia rose by almost a quarter year on year in 2024 to reach a record high of $146.8 billion. The kingdom accounted for more than half of all contracts issued across the GCC, which reached a new high of $273.2 billion, according to a report by the Kuwait-based […] January 30, 2025
Real Estate Design for new city in Iraq approved The design for a new city in Iraq to be built by an Egyptian developer that will house 700,000 people has been approved by the country’s ministry of construction and housing. Ora Developers, owned by the Egyptian tycoon Naguib Sawiris, was awarded the contract to build Ali Al-Wardi City a year ago. The company will […] January 29, 2025
Analysis Construction Mena construction industry braced for rise in disputes Construction professionals working in the Middle East and North Africa are bracing themselves for a surge in disputes, driven by delays, cost overruns and changes in scope, research has found. In a survey of Mena businesses including contractors and developers, more than 80 percent of the 95 respondents said they anticipated a rise in disputes […] January 28, 2025
Tech Foreign data centres will be secure, promises Saudi minister A regulatory framework to protect foreign-owned data centres set up in Saudi Arabia is being planned that will treat them in a similar way to embassies, as the kingdom seeks to become a global destination for the industry. The Saudi finance minister, Mohammed Al-Jadaan, speaking at the World Economic Forum in Davos, outlined the country’s […] January 24, 2025
Transport Kuwait awards railway contract to Turkish company Kuwait has awarded the tender for the first phase of its plan to build 111 kilometres of railway. The Central Agency for Public Tenders awarded the contract to Turkish engineering and consulting company Proyapi to carry out a study and detailed design to prepare tender documents for the railway. The first phase is expected to […] January 24, 2025
Infrastructure Morocco to invest $9.5bn in rail network projects Morocco is planning to invest nearly 96 billion Moroccan dirhams ($9.5 billion) in projects to expand its rail network in the next five years, the transport and logistics minister was reported on Thursday as saying. Abdul Samad Qayuh told parliament on Tuesday that 53 billion dirhams would be spent on the planned high-speed rail project and […] January 24, 2025
Infrastructure Etihad Rail train to link Abu Dhabi and Dubai in 30 minutes Authorities from Abu Dhabi and Dubai formally unveiled plans on Thursday for a high-speed passenger rail link that will reduce travel between the two cities to 30 minutes. Spearheaded by Etihad Rail, the train service will reach speeds of up to 350km/h, and “pass through key strategic destinations and tourist attractions”, an Abu Dhabi media […] January 23, 2025
Infrastructure Lebanese officials promote revival of rail network Lebanon is promoting the revival of the country’s defunct railway system that could link to neighbouring Syria and Iraq and become part of China’s proposed Belt and Road Initiative in the region. The train transport system in Lebanon had linked the capital Beirut with Tripoli near the Syrian border before it came to a standstill […] January 23, 2025
Construction German company to assess proposed Spain-Morocco tunnel A German-owned company has been awarded a contract to conduct a feasibility study on building an undersea railway tunnel between Morocco and Spain, the latest indication that the long-stalled plan could become reality. If built, the tunnel would be one of the longest of its kind worldwide and would make transporting goods and people between […] January 22, 2025
Transport Suez Canal extension to be operational in first quarter The Suez Canal expansion, which will extend the waterway’s two-way section by 10km, is expected to be operational in the first quarter of 2025, the authority’s chairman has said. Egypt announced on Saturday that the new stretch, near the canal’s southern end and close to Little Bitter Lake, was successfully tested without incident. Osama Rabie, chairman of […] January 22, 2025
Artificial Intelligence Gulf has a strong hand in Trump’s $500bn AI project Two of the three tech giants that will spend billions of dollars building US artificial intelligence infrastructure in a partnership announced by President Donald Trump have been the recipients of significant Gulf investment. Japan’s SoftBank and US companies OpenAI and Oracle have committed $500 billion over four years to Stargate, an entity tasked with building […] January 22, 2025
Telecoms Adia-backed EdgePoint to build 5,000 towers Southeast Asian mobile phone tower company EdgePoint Infrastructure plans to add at least 5,000 towers in the next two to three years. The Singapore-based company, backed by the Abu Dhabi Investment Authority (Adia), is planning to expand in Indonesia, Malaysia and the Philippines, where it already has a presence, and enter new markets such as […] January 21, 2025
Construction Eagle Hills signs contract for Budapest redevelopment Abu Dhabi-based developer Eagle Hills has signed a real estate purchase agreement with Hungary to start work on transforming a rundown area of Budapest. The project, spanning an area of 100 hectares, will have a development cost of more than €12 billion ($12.3 billion), the developer said in a statement. The project is supported by the […] January 20, 2025
Banking and Finance Dubai Islamic Bank ups stake in Turkey’s TOM Group Dubai Islamic Bank (DIB) has increased its stake in Istanbul-based TOM Group from 20 percent to 25 percent to seize the opportunity in Turkey’s rapidly expanding digital infrastructure. The Dubai-listed Shariah-compliant bank, which ventured into Turkey’s digital banking and financial technology arena in October 2023, was allowed to increase shareholding within 12 months. TOM Group, established by […] January 20, 2025
Analysis Tech How the UAE can make its push into space pay off Two years ago, the UAE’s Rashid Rover crashed into the moon’s Atlas crater during an attempted landing, marking an abrupt end to the country’s first mission to the moon’s surface. Now, back on Earth, the UAE is once again seeking to stake its claim as part of an elite club of countries with business to […] January 17, 2025
Renewable Energy UAE joins $1bn subsea power connectivity initiative The UAE has partnered with Italy and Albania to build a €1 billion ($1 billion) subsea connection to import renewable energy across the Mediterranean region. “We strongly believe in this project involving our three governments, private sector and grid operators,” Italian Prime Minister Giorgia Meloni told the World Future Energy Summit in Abu Dhabi. The […] January 16, 2025
Construction Abu Dhabi buys stake in US power company for $500m A subsidiary of Abu Dhabi Investment Authority (Adia) will acquire a minority stake in Alpha Generation (AlphaGen), a US-based power infrastructure company, by investing $500 million, amid a surge in power demand. The investment is subject to regulatory approvals and is expected to close in the first half of 2025. AlphaGen is owned by affiliates […] January 14, 2025
Editor's insight Economy Balancing the Saudi books to improve growth The sixth line of the Riyadh metro has now opened – a considerable achievement executed at unprecedented speed, according to architects and engineers interviewed by Valentina Pasquali. But the IMF is predicting growth in the Saudi economy of only 1.5 percent this year. Not so great. It is easy to be sceptical of macroeconomic forecasts, subject as they […] January 13, 2025
