Saudi leading energy sector in the GCC with a massive investment in sustainable energy worth more than $160 billion. The UAE is second with $50 billion.
The Middle East has $33 billion in active industrial and mining projects. Saudi Arabia leads the Middle East with 54% or $17.5 billion in active industrial and mining projects. Oman is in second place with 36%, or $11.5 billion. The UAE has 7% or $2.4 billion in industrial projects.
The Middle East has more than $18 billion of active hospital projects. More than 70% of these new projects are in Saudi Arabia. The UAE is second with 14% of active hospital projects. Of the $18 billion, more than $12 billion is under construction, with the balance, or $6 billion, in the pre-execution phase.
Strategically located, the Middle East connects manufacturing nations with consumer nations. Billions move between these nations through transport hubs in the Middle East.
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.
Saudi Arabia is leading the Middle East with 52% active transport projects. More than half of the $592 billion active transport projects are currently under construction.
With a total investment estimated at almost $2 billion, the Abu Dhabi has set its sights firmly on becoming the cultural capital in the Middle East.
The Middle East have more than $41 billion in active leisure development projects. Tourism has become a significant focus for Middle East countries whose economies traditionally relied heavily on hydrocarbon exports as a means of diversification.
Saudi Arabia leads the Middle East Leisure development sector with 53% or $22 billion in active leisure developments. The UAE is in second place with $17 billion. In 2023, the leisure sector will create 185,000 jobs for labourers while constructing world-class hotels and theme parks.
Saudi Arabia leads the Middle East when it comes to real estate developments slated to break ground in 2023. Six of the top 10 real estate developments are in Saudi Arabia, and four of the top 5 developers. The Middle East has more than 100 developments with a combined value of over $100 billion that will break ground in 2023.
Saudi Arabia can expect a third of the contract awards in the Middle East’s real estate sector. The Middle East’s real estate sector will account for 53% of all project awards during 2023.
The Middle East oil and gas projects have seen a tremendous spike in growth due to large-scale investments. Within 2021-2025, the Middle East will witness a total of 615 oil and gas projects.
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