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The Middle East and North Africa region recorded around $29.9 billion in contract awards signed in June, with Saudi Arabia accounting for nearly half.
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The UAE signed contracts worth $9.8 billion in June, more than four times the $2.4 billion total recorded in May.
MEED magazine reported that the Middle East and North Africa (MENA) region recorded approximately $29.9 billion in contract awards signed in June, with Saudi Arabia accounting for nearly half, according to Al Anba newspaper.
The value of awards during the month increased from $26.9 billion in May, which was also led by Saudi Arabia, followed by the UAE with $9.8 billion in contract awards, placing second.
Kuwait’s awards in June amounted to $268 million, placing third, followed by Oman with $107 million in fourth place, Bahrain with $63 million in fifth place, and Qatar with $35 million in sixth place.
It is worth noting that the majority of these contracts stem from the construction and transport industries in the region.
The GCC countries completed the list of countries signing contracts in June, with Saudi Arabia leading with $14.3 billion in signed awards through several major projects by the Saudi energy company, including the 1,500 MW Al-Khushaibi facility in Qassim. A team from ACWA Power, a local water and electricity holding company, and Saudi Aramco Energy will work on the project.
The UAE, for its part, signed contracts worth $9.8 billion in June, more than four times the $2.4 billion total recorded in May. The oil and gas industry once again led the value of signed deals in the country.