meed-logo

line1 line2 line3
SIGN IN / REGISTER
Latest News
  • Masdar’s move abroad will not be the last

    Administrator

    10 April 2026

    Commentary
    Mark Dowdall
    Power & water editor

    Masdar’s new joint-venture agreement with France’s TotalEnergies will not be the last time we see regional energy investors use strong balance sheets and domestic growth to build larger positions overseas.

    For Masdar in particular, the deal broadens its international exposure at a time when investors are asking questions about the Middle East’s geopolitical risk.

    By combining portfolios, the two companies start with 3GW of operational capacity and another 6GW in advanced development.

    The deal covers nine Asian countries, reflecting a prudent strategy that spreads capital across markets with different risk profiles and growth trajectories.

    In Kazakhstan, which already includes 2.6GW of assets under development, there is clear logic behind this move.

    The country is expected to see a significant increase in renewable generation over the next decade, supported by strong wind resources and the availability of large land areas for utility-scale developments.

    There is also a practical advantage in partnering with TotalEnergies, which already has project delivery experience and an established presence in several of these markets.

    The US-Iran ceasefire announced on 8 April has brought some respite to energy infrastructure stakeholders in the region.

    For investors and developers, however, the long-term uncertainty remains. Until there is clear evidence of regime change, the removal of sanctions or lasting peace in the region, the outlook will be less clear.

    With uncertainty one of the biggest killers of investor confidence, many will now be looking at this agreement and thinking whether they should also follow suit.

    READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

    Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

    Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

    > GCC CONTRACTOR RANKING: Construction guard undergoes a shift
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/16340038/main.jpg
    Mark Dowdall
  • Turkish firm launches Mecca villas project

    Administrator

    10 April 2026

    Register for MEED’s 14-day trial access 

    Turkish real estate investment firm Emlak Konut has announced the launch of Hayat Makkah, its first development in Saudi Arabia.

    The project is part of the National Housing Company’s (NHC) wider Mecca Gate masterplan.

    According to the company, Hayat Makkah will feature 1,014 villas, with home sizes ranging from 150 to 5,000 square metres.

    NHC and Emlak Konut signed an investment agreement worth over SR1bn ($266m) in November last year to develop the project.

    The agreement was signed on the sidelines of the Cityscape Global 2025 event in Riyadh.

    Ertan Keles, chairman of Emlak Konut, said the firm is in talks with stakeholders about launching a second project, while a third development is also being lined up in Jeddah.

    GlobalData expects the Saudi Arabian construction industry to grow by 3.6% in real terms in 2026, supported by an increase in foreign direct investment (FDI) and investments in the housing and manufacturing sectors.

    The residential construction sector is expected to grow by 3.8% in real terms in 2026 and register an average annual growth rate of 4.7% between 2027 and 2030, supported by the country’s aim – under Saudi Vision 2030 – to increase homeownership from 65.4% in 2024 to 70% by 2030, including by building 600,000 homes by 2030.

    According to the General Authority for Statistics, Saudi Arabia attracted a net FDI inflow of SR72.3bn ($19.3bn) in the first nine months of 2025, an increase of 32.7% year-on-year (YoY) compared to the same period in 2024.

    Similarly, the total value of real estate loans from banks grew by 11.5% YoY in 2025, preceded by an annual growth of 13.3% in 2024, according to the Saudi Central Bank (Sama).

    READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

    Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

    Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

    > GCC CONTRACTOR RANKING: Construction guard undergoes a shift
    To see previous issues of MEED Business Review, please click here

     

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16340004/main.png
    Yasir Iqbal
  • Kuwait gives bidders more time for Al-Khairan IWPP

    Administrator

    10 April 2026

     

    Kuwait has extended bidding for the first phase of the Al-Khairan independent water and power producer (IWPP) project.

    The project is being procured by the Kuwait Authority for Partnership Projects (Kapp) and the Ministry of Electricity, Water & Renewable Energy (MEWRE).

    The facility will have a capacity of 1,800MW and 150,000 cubic metres a day of desalinated water. It will be located in Al-Khairan, adjacent to the Al-Zour South thermal plant.

    The new deadline is 30 April. The original deadline was 31 March.

    The main contract was tendered last September. Three consortiums and two individual companies were previously prequalified to participate.

    These include:

    • Abu Dhabi National Energy Company (Taqa) / A H Al-Sagar & Brothers (Saudi Arabia) / Jera (Japan)
    • Acwa (Saudi Arabia) / Gulf Investment Corporation (Kuwait)
    • China Power / Malakoff International (Malaysia) / Abdul Aziz Al-Ajlan Sons (Saudi Arabia)
    • Nebras Power (Qatar)                                                                                                                                        
    • Sumitomo Corporation (Japan)

    The Al-Khairan IWPP project is part of Kuwait’s long-term plan to expand power and water production capacity through public-private partnerships (PPPs).

    The winning bidder will sign a set of PPP agreements covering financing, design, construction, operation and transfer of the project.

    The energy conversion and water purchase agreement is expected to cover a 25-year supply period.

    Kapp extended another deadline recently for a contract to develop zone two of the third phase of the Al-Dibdibah power and Al-Shagaya renewable energy project.

    The PPP authority is procuring the 500MW solar photovoltaic independent power project (IPP) in partnership with the ministry.

    The bid submission deadline was moved to the end of April, a source close to the project told MEED.

    According to the MEWRE, the total generation capacity currently offered under partnership projects has reached 6,100MW, equivalent to about 30% of Kuwait’s existing power capacity.

    The ministry and Kapp are also preparing to tender the main contract for the 3,600MW Nuwaiseeb power and water desalination plant after plans were approved by Kuwait’s Council of Ministers last November.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16339960/main.jpg
    Mark Dowdall
  • Bahrain approves $340m highway financing

    Administrator

    10 April 2026

    Bahrain has approved a financing agreement framework to fund the construction of the next phase of the Sheikh Jaber Al-Ahmed Al-Sabah Highway upgrade project.

    According to local media reports, King Hamad Bin Isa Al-Khalifa approved the framework agreement on 8 April, following approval by the Shura Council and the Council of Representatives.

    In March last year, the Kuwait Fund for Arab Economic Development and the Bahraini government signed a KD10m ($32.4m) loan agreement to fund the second phase of the Sheikh Jaber Al-Ahmed Al-Sabah Highway project, which is expected to cost about $404m.

    This was followed in September by the appointment of US-based Parsons Corporation on a $1.5m contract to provide pre-contract engineering consultancy services for the project.

    The scope of the contract includes preparing designs to widen the highway to at least five lanes in each direction, updating utility corridors, revising the stormwater design, and producing contract drawings and tender documents.

    According to data from regional projects tracker MEED Projects, construction of the project’s first phase was completed in 2020.

    A joint venture of local firm Nass Contracting and Kuwait’s KCC Engineering & Contracting undertook the main construction works.

    READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

    Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

    Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

    > GCC CONTRACTOR RANKING: Construction guard undergoes a shift
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/16339935/main.jpg
    Yasir Iqbal
  • Qiddiya prepares National Athletics Stadium tender

    Administrator

    10 April 2026

     

    Saudi gigaproject developer Qiddiya Investment Company (QIC) is expected to issue a tender in May for the construction of the estimated SR7bn ($1.8bn) National Athletics Stadium at its Qiddiya entertainment city development.

    The multipurpose stadium will cover approximately 182,000 square metres, with a design inspired by the London Olympic Stadium.

    In September last year, MEED exclusively reported that QIC had begun the procurement process for the kingdom’s next major sporting destination, having received expressions of interest from contractors for the project.

    UK-based HOK is the project’s lead design consultant, supported by Canadian engineering firm WSP and Germany’s Schlaich Bergermann Partner.

    UK-headquartered WT Partnership is serving as the project’s cost consultant.

    The stadium will be located within the Qiddiya Sports Park cluster and is expected to be completed by 2030.

    Saudi Arabia was selected in December 2020 to host the 2034 Asian Games. The 22nd edition of the event will be held in Riyadh from 29 November to 14 December 2034.

    The National Athletics Stadium is one of several major projects within the wider Qiddiya development. Others include an e-games arena, Prince Mohammed Bin Salman Stadium, a performing arts centre, a motorsports track, Dragon Ball and Six Flags theme parks and Aquarabia waterpark.

    The project is a key part of Riyadh’s strategy to boost leisure tourism in the kingdom. According to UK analytics firm GlobalData, leisure tourism in Saudi Arabia has experienced significant growth in recent years.

    Domestic leisure tourism trips increased to 33.76 million in 2023, up from 16.74 million in 2018. International tourist arrivals for recreational purposes increased by 600% from 2018 to 2023.

    Image: Buro Happold

    MEED’s April 2026 report on Saudi Arabia includes:

    > COMMENT: Risk accelerates Saudi spending shift
    > GVT &: ECONOMY: Riyadh navigates a changed landscape
    > BANKING: Testing times for Saudi banks
    > UPSTREAM: Offshore oil and gas projects to dominate Aramco capex in 2026
    > DOWNSTREAM: Saudi downstream projects market enters lean period
    > POWER: Wind power gathers pace in Saudi Arabia
    > WATER: Sharakat plan signals next phase of Saudi water expansion
    > CONSTRUCTION: Saudi construction enters a period of strategic readjustment
    > TRANSPORT: Rail expansion powers Saudi Arabia’s infrastructure push

    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/16339674/main.jpg
    Yasir Iqbal
  • Consortium wins sewage treatment contract in Saudi Arabia

    Administrator

    10 April 2026

     

    A consortium led by China’s Jiangsu United Water Technology has won a contract to build and upgrade two sewage treatment plants in Saudi Arabia, according to sources.

    The contract covers the North Western A Cluster Sewage Treatment Plants Package 11 (LTOM11), part of the next phase of National Water Company’s (NWC) long-term operations and maintenance (LTOM) sewage treatment programme.

    In March, MEED exclusively reported that the consortium comprising United Water, the UAE’s Prosus Energy and Saudi Arabia’s Armada Holding had offered the lowest tariff for the project.

    The development, estimated to cost about $211m, will have a combined capacity of about 440,000 cubic metres a day.

    As previously reported, six bidders were competing for the contract, including Turkey’s Kuzu, which submitted the second-lowest offer, according to sources.

    The contract marks the second award for the United Water-led consortium under the LTOM scheme, which is being procured on an engineering, procurement and construction (EPC) basis with a long-term operations component.

    In January, it won the main contract for the Northern Cluster Sewage Treatment Plants Package 10 (LTOM10).

    That project includes the rehabilitation and operation of nine sewage treatment plants located across the Hail, Qassim, Al-Jouf and Northern Borders provinces

    Upcoming projects

    Saudi Arabia’s NWC is also evaluating five bids for package 12 of its LTOM12 sewage treatment programme.

    Financial bids for this package were opened in early April, a source said.

    NWC is understood to have had several discussions in recent months regarding changes in scope details and potential expansions to upcoming projects.

    As MEED understands, this involves grouping some upcoming projects.

    According to a source, package 13 of the programme is currently “on hold” while package 14, known as Eastern A Cluster, is expected to be tendered in the coming weeks.

    Under the original scope, this package covers the construction of 10 sewage treatment plants.

    In total, the LTOM programme comprises 19 packages split into two phases. 

    In May 2024, NWC announced it had awarded $2.5bn-worth of contracts in the first phase. Phase two of the programme includes 10 packages covering 117 treatment plants.

    MEED’s April 2026 report on Saudi Arabia includes:

    > COMMENT: Risk accelerates Saudi spending shift
    > GVT &: ECONOMY: Riyadh navigates a changed landscape
    > BANKING: Testing times for Saudi banks
    > UPSTREAM: Offshore oil and gas projects to dominate Aramco capex in 2026
    > DOWNSTREAM: Saudi downstream projects market enters lean period
    > POWER: Wind power gathers pace in Saudi Arabia
    > WATER: Sharakat plan signals next phase of Saudi water expansion
    > CONSTRUCTION: Saudi construction enters a period of strategic readjustment
    > TRANSPORT: Rail expansion powers Saudi Arabia’s infrastructure push

    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/16339668/main.jpg
    Mark Dowdall
  • Heisco submits low bid for Kuwait refinery project

    Administrator

    10 April 2026

    Kuwait’s Heavy Engineering Industries & Shipbuilding Company (Heisco) has submitted the lowest bid for a project to upgrade part of the Mina Abdullah refinery’s export infrastructure.

    It submitted a bid of KD11,919,652 ($38.6m) for the project to implement renovation works on the artificial island that forms part of the port at the refinery.

    The only other bidder was Kuwait’s International Marine Construction Company (IMCC), which submitted a bid of KD12,480,113 ($40.4m).

    Kuwait is currently seeing significant disruption to its oil and gas sector due to fallout from the US and Israel’s war with Iran.

    The Mina Abdullah refinery was integrated with the Mina Al-Ahmadi refinery as part of the $16bn Clean Fuels Project, which came online in 2021.

    Several units at the Mina Al-Ahmadi Refinery were shut down after the refinery was hit by drone attacks last month.

    READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

    Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

    Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

    > GCC CONTRACTOR RANKING: Construction guard undergoes a shift
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/16334578/main.png
    Wil Crisp
  • First Group submits low bid for Kuwait downstream project

    Administrator

    10 April 2026

    Kuwait City-based First Group has submitted the lowest bid for a contract to develop 10 new petrol stations in Kuwait’s Al-Mutlaa City.

    The client on the project is state-owned downstream operator Kuwait National Petroleum Company.

    Fourteen contractors submitted bids for the project.

    First Group submitted a bid worth KD13,988,000 ($45.27m), which was 9% lower than the second-lowest bidder, Canar Trading & Contracting.

    The full list of bidders was:

    • First Group General Trading & Contracting: KD13,988,000 ($45.27m)
    • Canar Trading & Contracting: KD15,436,039
    • Khaled Ali Al-Kharafi & Brothers Construction Company: KD15,150,000
    • Private Construction Company for General Trading & Contracting: KD15,249,000
    • Wara Construction Company: KD15,828,145.98
    • Sharjah International General Trading & Contracting: KD15,843,439.8
    • Al-Hani Construction & Trading: KD16,700,000
    • Al-Sayer Construction Company for General Trading & Contracting: KD16,720,000
    • Kuwait Company for Plant Construction & Contracting: KD17,100,000
    • Golden Engineering Group for General Trading & Contracting: KD17,707,070
    • Al-Dar Engineering & Construction Company: KD17,802,398.55
    • Combined Group Contracting Company: KD18,000,000
    • Construction & Real Estate Manufacturing Company: KD20,400,000
    • Al-Ahmadiyya Contracting & Trading Company: KD27,400,000

    Kuwait’s oil and gas sector has been significantly disrupted due to fallout from the US and Israel’s war with Iran.

    READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

    Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

    Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

    > GCC CONTRACTOR RANKING: Construction guard undergoes a shift
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/16334213/main.jpg
    Wil Crisp
Top Trending Articles
Exclusive from Meed

  • Digital Subscription

    $175/month

    Paid Annually

    buy now
    • MEED.com

      Unlimited access to 20 year archive on desktop and mobile

    • Video Content

      All the latest news and analysis in a convenient video format

    • Daily/Weekly Newsletters

      Receive your choice of sector and country newsletters at your preferred frequency

  • Premium Subscription

    $291/month

    Paid Annually

    buy now
    • MEED.com

      Unlimited access to 20 year archive on desktop and mobile

    • Video Content

      All the latest news and analysis in a convenient video format

    • Daily/Weekly Newsletters

      Receive your choice of sector and country newsletters at your preferred frequency

    • MEED Premium Datasets

      Access five interactive datasets and conduct your own research into market trends, deals and companies

    • MEED Bussiness Review Magazine

      Get our unique, forward looking commentary and analysis delivered to your desktop

    • Regular Subscriber Briefings

      Network with industry leaders and fellow colleagues in an informal setting

    • Account Manager/Training

      A dedicated account manager for all your requests and enquiries to make the most the platform