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.
At the start of 2023, the real estate construction market in Saudi Arabia has grown to an astounding $633 billion of active projects. This total excludes mega projects.
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.
Saudi Aramco announced record results for Q1 2022 with a net income increase of 82 per cent, driven by higher volumes and pricing.
From 2021 through 2025, the Middle East will see 615 oil and gas projects tendered. There are more than $570 billion of active oil and gas projects in the Middle East.
Saudi Arabia is aggressively working to diversify away from its reliance on hydrocarbons. There are more than $1.6 trillion of active projects in the kingdom, many of them megaprojects worth hundreds of billions.
Saudi Arabia’s population will increase by 4 million people over the next ten years. The country is investing heavily in critical infrastructures such as water and power. There are more than $5.5 billion of water projects currently under construction.
Growing investment in water infrastructure in Saudi Arabia means spending during 2021 will increase to $2.3 Billion.
Saudi Arabia will spend more than $1.8 billion on water projects during 2021. The Kingdom has a pipeline of more than $19 billion of active water projects with $13.5 billion still in the pre-execution phase.
Rapid growing populations in a desert region mean water is an extremely scarce commodity. Saudi Arabia and the United Arab Emirates are investing in water processing capacity with more than $24 billion of active water projects.
The Kingdom of Saudi Arabia and the United Arab Emirates have combined more than $206 billion of active power Projects. ABiQ estimates these markets will spend more than $4.8 billion during 2021 on power projects.
2020 was the first time in history the spot price of oil went into negative territory, sending shockwaves through global oil producers. That said, Saudi Arabia still has more than $200 billion in active oil and gas projects.
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