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.
New hospitals with a value of $11 billion are active. $6.4 billion is currently under construction, and $4.8 billion is in design.
Egypt leads North Africa with more than 60% of the new hospital projects. Egypt’s population exceeds 108 million, or 42% of North Africa’s total population. Egypt’s population growth rate is also the highest in North Africa. Investing in healthcare is a primary focus for the Egyptian government.
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.
According to a July 2022 press release, the Norwegian Investment Fund for Developing Countries (Norfund) and Norway’s largest pension company, KLP, will jointly invest USD 40 million in equity in CrossBoundary Energy (CBE) to help the company expand its renewable energy solutions for businesses in Africa.
ABiQ outlines how technology can change socioeconomic outcomes.
Technology advances at an exponential pace, every day. Technology has the potential to drastically change socioeconomic outcomes, especially in underdeveloped countries.
ABiQ outlines how infrastructure development supports economic development in fragile economies.
ABiQ outlines 5 ways to strengthen African capacity for development. Africa is the land of opportunity. Africa is a continent rich in natural resources and home to an abundance of untapped opportunity waiting to be utilised.
ABiQ outlines how global economies depend on the United Arab Emirates (UAE) oil fields. The UAE is made up of seven emirates, including: Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al-Khaimah, Sharjah and Umm Al-Quwain.
In this article, ABiQ outlines the top 5 Middle Eastern countries by Foreign Direct Investment (FDI). In recent years, the Middle East has increased regional efforts to enhance its investment landscape.
According to a US State Department September 2022 press release, the government of the Federal Republic of Nigeria has signed a letter of intent with seven companies in Lagos.
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