GCC Construction Sample TOC

www.meedinsight.com

GCC Construction Report 2015A comprehensive overview, analysis

and forecast of the civils construction projects market in the GCC

A MEED Insight report

© 2014 MEED Insight 1

Table of Contents

Section Page

1 Preface 8

2 Executive Summary 10

3 Introduction 15

4 The GCC Construction Projects Market 23

5 Bahrain 32

6 Kuwait 40

7 Oman 55

8 Qatar 64

9 Saudi Arabia 79

10 UAE 92

11 Appendix 112

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All rights reserved. No part of this publication may be reproduced, stored in any retrieval system, or transmitted in any form, by any

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Figures & Tables

# Section Title Page

Figure 1 Introduction GCC Nominal GDP, 2007 - 2013 16

Figure 2 Introduction GCC Population, 2007 - 2013 16

Figure 3 Introduction Value of GCC Contracts Awarded, 2007 – 2013 ($m) 18

Figure 4 Introduction Number of $50m-plus Contracts Awarded, 2007 – 2013 18

Figure 5 Introduction Value of GCC Contracts Awarded by Country, 2007 – 2013 ($bn) 19

Figure 6 Introduction Number and Average Value of Contracts Awarded, 2007-2013 19

Figure 7 Introduction Contract Awards Breakdown by Country, 2007-2013 19

Figure 8 Introduction Value of GCC Contracts Awarded by Sector, 2007 – 2013 ($bn) 20

Figure 9 Introduction Number and Average Value of Contracts Awarded, 2007-2013 20

Figure 10 Introduction Contract Awards Breakdown by Sector, 2007-2013 20

Figure 11 Introduction Dubai Contract Awards vs. GCC, 2007 – 2013 ($m) 21

Figure 12 Introduction Average Annual Oil Prices vs. GCC Contract Awards, 2007 – 2013 22

Figure 13 Introduction Material Costs vs. GCC Hydrocarbon Contract Awards, 2007 – 2013 22

Figure 14 GCC Construction Projects Market GCC construction contract awards, 2006-13 24

Figure 15 GCC Construction Projects Market GCC construction contract awards by country, 2006-13 ($bn) 24

Figure 16 GCC Construction Projects Market GCC construction project market status, August 2014 25

Figure 17 GCC Construction Projects Market UAE projects on hold by emirate 25

Figure 18 GCC Construction Projects Market Projects on hold by country 25

Figure 19 GCC Construction Projects Market Projects cancelled by country 25

Figure 20 GCC Construction Projects Market Breakdown of contracts by country awarded since 2006 27

Figure 21 GCC Construction Projects Market Contracts by country currently under construction 27

Figure 22 GCC Construction Projects Market Saudi vs. UAE contract awards, 2006-13 ($m) 28

Figure 23 GCC Construction Projects Market Saudi Arabia, UAE, Kuwait and Qatar contract awards, 2006-13 ($m) 28

Figure 24 GCC Construction Projects Market Contract awards by sector, 2006-13 29

Figure 25 GCC Construction Projects Market Infrastructure work by sub-sector 29

Figure 26 GCC Construction Projects Market Residential, infrastructure and mixed-use contract awards, 2006-13 29

Figure 27 GCC Construction Projects Market Social infrastructure awards, 2006-13 29

Figure 28 GCC Construction Projects Market Value of announced planned and un-awarded construction projects in the GCC ($bn) 30

Figure 29 GCC Construction Projects Market Construction projects out to tender by type and value ($bn) 30

Figure 30 GCC Construction Projects Market Forecast for construction awards in the GCC, 2014 ($m) 31

Figure 31 GCC Construction Projects Market Forecast for construction awards in the GCC, 2015 ($m) 31

Figure 32 Bahrain Construction contract awards, 2006-13 ($m) 33

Figure 33 Bahrain Contract awards by sector, 2006 - 2013 33

Figure 34 Bahrain Construction projects under way by region as of August 2014 ($m) 33

Figure 35 Bahrain Construction projects market status, as of August 2014 33

Figure 36 Bahrain Top clients by value of work under execution, August 2014 ($m) 34

Figure 37 Bahrain Top 10 contractors by value of construction work execution, August 2014 ($m) 34

Figure 38 Bahrain Bahrain tender price index, 2006-15 (2002-100) 35


Figures & Tables


Figure 39 Bahrain Number of schools by region, 2012/13 36

Figure 40 Bahrain Projects in prequalification and tender stages, August 2014 40

Figure 41 Bahrain Projects in design and study stages, August 2014 40

Figure 42 Kuwait Construction contract awards, 2006-13 ($m) 42

Figure 43 Kuwait Contract awards by sector, 2006 - 2013 42

Figure 44 Kuwait Construction projects under way by region as of August 2014 ($m) 42

Figure 45 Kuwait Construction projects market status, as of August 2014 42

Figure 46 Kuwait Top clients by value of work under execution, August 2014 ($m) 43

Figure 47 Kuwait Top 10 contractors by value of construction work execution, August 2014 ($m) 43

Figure 48 Kuwait Kuwait tender price index, 2006-17 (2002=100) 44

Figure 49 Kuwait The Third Kuwait Masterplan Review, 2006 45

Figure 50 Kuwait The Capital Governorate Masterplan 46

Figure 51 Kuwait Subiya Causeway final alignment 53

Figure 52 Kuwait Projects in prequalification and tender stages, August 2014 54

Figure 53 Kuwait Projects in design and study stages, August 2014 54

Figure 54 Oman Construction contract awards, 2006-13 ($bn) 56

Figure 55 Oman Contract awards by sector, 2006 - 2013 56

Figure 56 Oman Construction projects under way by region as of August 2014 56

Figure 57 Oman Construction projects market status, as of August 2014 56

Figure 58 Oman Top clients by value of work under execution, August 2014 ($m) 57

Figure 59 Oman Top 10 contractors by value of construction work execution, August 2014 ($m) 57

Figure 60 Oman Oman tender price index, 2006-17 (2002=100) 58

Figure 61 Oman Oman tourism projects 61

Figure 62 Oman Projects in prequalification and tender stages, August 2014 63

Figure 63 Oman Projects in design and study stages, August 2014 63

Figure 64 Qatar Construction contract awards, 2006-13 ($bn) 65

Figure 65 Qatar Contract awards by sector, 2006 - 2013 65

Figure 66 Qatar Construction projects under way by region as of August 2014 ($m) 65

Figure 67 Qatar Construction projects market status, as of August 2014 65

Figure 68 Qatar Top clients by value of work under execution, August 2014 ($m) 66

Figure 69 Qatar Top 10 contractors by value of construction work execution, August 2014 ($m) 66

Figure 70 Qatar Qatar tender price index, 2006-17 (2002=100) 67

Figure 71 Qatar The ASHGHAL capital investment programme, March 2013 71

Figure 72 Qatar Ongoing and planned expressway projects 73

Figure 73 Qatar Breakdown of LRDP contracts by status, March 2014 74

Figure 74 Qatar The Sharq Crossing 75

Figure 75 Qatar Proposed national cycle network 75

Figure 76 Qatar Total number of existing rooms and negotiated/signed rooms for the 2022 World Cup 76


Figures & Tables


Figure 77 Qatar Location of proposed World Cup stadiums 77

Figure 78 Qatar Projects in prequalification and tender stages, August 2014 78

Figure 79 Qatar Projects in design and study stages, August 2014 78

Figure 80 Saudi Arabia Construction contract awards, 2006-13 ($bn) 80

Figure 81 Saudi Arabia Contract awards by sector, 2006 - 2013 80

Figure 82 Saudi Arabia Construction projects under way by region as of August 2014 ($m) 80

Figure 83 Saudi Arabia Construction projects market status, as of August 2014 80

Figure 84 Saudi Arabia Construction contract awards by sector, January –August 2014 81

Figure 85 Saudi Arabia Ninth five-year development plan allocations ($bn) 81

Figure 86 Saudi Arabia Top clients by value of work under execution, August 2014 ($bn) 82

Figure 87 Saudi Arabia Top 10 contractors by value of construction work execution, August 2014 ($bn) 82

Figure 88 Saudi Arabia Saudi Arabia tender price index, 2006-17 83

Figure 89 Saudi Arabia Hospital beds required by region, 2014 86

Figure 90 Saudi Arabia Planned medical cities 86

Figure 91 Saudi Arabia Housing required by region 87

Figure 92 Saudi Arabia Recent road contract awards, 2006-2013 ($bn) 89

Figure 93 Saudi Arabia Projects in prequalification and tender stages, August 2014 91

Figure 94 Saudi Arabia Projects in design and study stages, August 2014 91

Figure 95 UAE Construction contract awards, 2006-13 ($bn) 93

Figure 96 UAE Contract awards by sector, 2006 - 2013 93

Figure 97 UAE Construction projects under way by region as of August 2014 93

Figure 98 UAE Construction projects market status, as of August 2014 93

Figure 99 UAE Construction contract awards by emirate, 2008 94

Figure 100 UAE Projects on hold by market 94

Figure 101 UAE UAE Contract awards vs. completions, 2007-13 ($m) 94

Figure 102 UAE Top clients by value of work under execution, August 2014 ($bn) 95

Figure 103 UAE Top 10 contractors by value of construction work execution, August 2014 ($m) 95

Figure 104 UAE UAE tender price index, 2006-17 (2002=100) 96

Figure 105 UAE Dubai contract awards vs completions, 2007-13 ($bn) 97

Figure 106 UAE Abu Dhabi contract awards vs. completions, 2007-13 ($m) 98

Figure 107 UAE Project market by status: Northern Emirates, August 2014 ($bn) 99

Figure 108 UAE Project market by status: Northern Emirates, August 2014 (%) 102

Figure 109 UAE Construction projects in tender or design stages: Northern Emirates, August 2014 ($bn) 102

Figure 110 UAE Projects in prequalification and tender stages, August 2014 109

Figure 111 UAE Projects in design and study stages, August 2014 109

Figure 112 UAE Construction projects in bid and prequalification stages by emirate* 110

Figure 113 UAE Construction projects in design and study stages by emirate* 110

Figure 114 UAE Abu Dhabi construction projects in prequalification and tender stages by sector 110


Figures & Tables


Figure 115 UAE Abu Dhabi construction projects in design and study stages by sector 110

Figure 116 UAE Dubai construction projects in prequalification and bidding stages by sector* 111

Figure 117 UAE Dubai construction projects in design and study stages by sector* 111

Figure 118 UAE Northern Emirates construction projects in prequalification and bid stages by sector 111

Figure 119 UAE Northern Emirates construction projects in design and study stages by sector (%. ) 111

Figure 120 Appendix Contract awards by sector, 2013 116

Table 1 GCC Construction Projects Market Top 10 GCC cancelled projects by value 26

Table 2 GCC Construction Projects Market Top 10 GCC on hold projects by value 26

Table 3 GCC Construction Projects Market Top 20 construction projects awarded 2006-13 27

Table 4 GCC Construction Projects Market Top 20 construction projects due to be awarded in 2014 31

Table 5 Bahrain Major healthcare projects under way 36

Table 6 Bahrain Housing projects under construction, August 2014 37

Table 7 Bahrain New towns 38

Table 8 Bahrain Planned new housing schemes 38

Table 9 Bahrain Road projects under construction 39

Table 10 Bahrain Planned major road projects 39

Table 11 Bahrain Contracts due for award, 2014 40

Table 12 Kuwait Kuwait University new campus contracts under execution, August 2014 47

Table 13 Kuwait Kuwait University campus future contracts, August 2014 47

Table 14 Kuwait New hospitals Masterplan 48

Table 15 Kuwait Major healthcare projects under construction, August 2014 48

Table 16 Kuwait Planned healthcare projects, August 2014 49

Table 17 Kuwait Selected major PAHW awarded contracts 50

Table 18 Kuwait PAHW’s major township programme 50

Table 19 Kuwait Selected major real estate projects, 2004-14 51

Table 20 Kuwait Value of road projects ($bn) 52

Table 21 Kuwait Road projects under execution 52

Table 22 Kuwait Future road projects 53

Table 23 Kuwait Contracts due for award, 2014 54

Table 24 Oman Current and planned education projects 59

Table 25 Oman Selected major healthcare projects planned or under way 59

Table 26 Oman Current and planned housing contracts 60

Table 27 Oman Tourism-related projects planned or under way 61

Table 28 Oman Annual investment in new road schemes, 2011-15 (ROm) 62

Table 29 Oman Major road projects by value, 2011-15 62

Table 30 Oman Batinah Expressway main contracts 62

Table 31 Oman Contracts due for award, 2014 63


Figures & Tables


Table 32 Qatar ASHGHAL school contract awards, 2014 68

Table 33 Qatar Education City projects under construction or planned, August 2014 68

Table 34 Qatar Major Qatar Foundation contract awards, 2014 68

Table 35 Qatar Budgeted government spending on healthcare, 2009-12 (QRbn) 69

Table 36 Qatar Recent major hospital contracts 69

Table 37 Qatar Msheireb land-use Masterplan 70

Table 38 Qatar Key consultants and contractors on the Msheireb project 70

Table 39 Qatar Status of the Msheireb project, August 2014 70

Table 40 Qatar Major ASHGHAL road projects under execution, January 2010-August 2014 72

Table 41 Qatar Ongoing and planned expressway projects 74

Table 42 Qatar Top 15 largest projects on the LRDP programme 74

Table 43 Qatar The FIFA 2022 World Cup host cities 76

Table 44 Qatar The FIFA Confederations Cup and FIFA World Cup budget ($m) 76

Table 45 Qatar Contracts due for award, 2014 78

Table 46 Saudi Arabia Top 10 active projects by value 81

Table 47 Saudi Arabia Key education contracts under execution, August 2014 84

Table 48 Saudi Arabia Selected major awarded healthcare projects 85

Table 49 Saudi Arabia Planned healthcare projects, August 2014 85

Table 50 Saudi Arabia Selected major non-government housing projects under construction 87

Table 51 Saudi Arabia Rayadah Investment Company projects under way at KAFD 88

Table 52 Saudi Arabia Selected major private or public/private real estate projects 88

Table 53 Saudi Arabia Selected un-awarded major Transport Ministry road projects to be awarded in 2014 89

Table 54 Saudi Arabia Selected major hotel projects under construction 90

Table 55 Saudi Arabia Tourism targets, 2015-20 90

Table 56 Saudi Arabia Contracts due for award, 2014 91

Table 57 UAE Dubai major individual construction projects under execution 97

Table 58 UAE Abu Dhabi major construction projects under execution 98

Table 59 UAE Northern Emirates construction projects under execution, August 2014 99

Table 60 UAE Dubai selected upcoming construction projects 100

Table 61 UAE Abu Dhabi selected upcoming construction projects, August 2014 101

Table 62 UAE Northern Emirates selected upcoming construction projects 102

Table 63 UAE Selected major education projects, August 2014 103

Table 64 UAE Selected major healthcare projects, August 2014 104

Table 65 UAE Major residential projects under execution, August 2014 105

Table 66 UAE Road projects under execution, August 2014 106

Table 67 UAE Dubai selected major tourism projects, August 2014 107

Table 68 UAE Northern Emirates selected major tourism projects, August 2014 107

Table 69 UAE Abu Dhabi selected major tourism projects, August 2014 108


Figures & Tables


Table 70 UAE Contracts due for award, 2014 109

Table 71 Appendix Forthcoming major construction projects 113

Table 72 Appendix Selected major Muscat Municipality projects, 2011-15 114

Table 73 Appendix Top 10 contract awards in 2013 115

Table 74 Appendix Top 10 construction awards in 2013 116

Table 75 Appendix Top 10 projects under construction 117

Table 76 Appendix Building projects under study and under design, August 2014 118

GCC Construction Sample TOC

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