The Middle East has more than $150 billion of active rail projects. More than a third, or 35%, are in Saudi Arabia. Iraq is in second place with 28% or $43 billion of active rail projects. Oman is in third place with 18% or $27 billion of rail projects.
Of the $150 billion, $36 billion is under construction, and $114 billion is in various pre-execution phases. The top 5 rail developers are:
- General Company for Iraqi Railways
- Saudi Railway Company
- Arriyadh Development Authority
- Oman Railway Company
- Etihad Rail
Work on the Baghdad Metro will kick off in 2023. Construction activity based on the current schedule will peak in Q1 2025. Oman Rail and Etihad rail finalised their joint venture to move forward with the $3 billion UAE Oman rail link. Construction work should start in Q3 2024.
At ABiQ, we focus on supporting the development of the African and Middle Eastern markets. We identify investment opportunities and help businesses make the right choice when it comes to their role in investment, economic development and socioeconomic improvement. ABiQ provides validated data and trusted business intelligence. Our unique forecasting and project tracking tool provide data and analysis to support your business growth strategy across the Middle East and Africa. Contact us for a free demo.