Kuwait ranked third among Gulf countries in the value of contracts awarded in July, with projects worth $250 million, according to MEED magazine, as total contract awards across the Middle East and North Africa fell to $20.4 billion from $26.2 billion in June.
The July figure marked a sharp slowdown from the stronger levels recorded earlier this year. Regional contract awards reached about $40 billion in January and February, before falling to around $26 billion in March and $18 billion in April and May, then recovering to $26.2 billion in June.
Transport and gas lead regional awards
The transportation and gas sectors dominated July activity, accounting for $6.7 billion and $6.5 billion, respectively, in awarded contracts.
Kuwait recorded two contracts during the month. The largest, valued at approximately $232 million, was awarded to China State Construction Engineering Corporation for the permanent headquarters of the Kuwait Direct Investment Promotion Authority in Sharq, Kuwait City. The project includes a 275-metre-high, 55-storey office tower and is expected to be completed by 2028.
UAE leads with $10.9 billion
The UAE topped the region with $10.9 billion in July contract awards, driven primarily by deals related to the gas cap and surface pressure enhancement project at Abu Dhabi’s Umm Shaif field, valued at about $6.2 billion.
Egypt ranked second with $6.6 billion, with the largest share coming from a contract for the second phase of the fourth line of the Greater Cairo Metro.
Saudi Arabia recorded $1.9 billion in July awards, down sharply from $9.9 billion in June. Among the major deals was a $261 million contract for a building to house hotel-sector employees within the Qiddiya project.
Other regional projects
Iraq recorded two oil and gas contracts worth a combined $500 million, including a project awarded by Basra Gas Company to Al-Kut Oil Services Company to invest in low-pressure gas at the sixth gas compression station in the West Qurna-1 field.
In Morocco, the Moroccan Agency for Sustainable Energy awarded Saudi Arabia’s ACWA Power a project to expand the Khalladi wind farm by about 40 megawatts, with investment estimated at 550 million Moroccan dirhams, or approximately $60 million.
In Tunisia, an Indian company won a contract worth about $36 million to design, supply and install 400-kilovolt double-circuit overhead lines for the Tunisia-Italy ELMED electricity interconnection project. Bahrain’s Electricity and Water Authority awarded a contract to build nine 66-kilovolt substations.
In Syria, Syrian Holding Company selected Consolidated Contractors Company for the design and implementation of the Damascus Financial Center project, estimated at around $600 million. Oman concluded the list with a $23 million contract awarded by Dhofar Municipality for a dual-carriageway project in Salalah.
