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  • Qiddiya awards estimated $1bn racecourse deal

    Administrator

    1 July 2026

     

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    Saudi gigaproject developer Qiddiya Investment Company (QIC) has awarded an estimated SR4.3bn ($1.1bn) contract for the construction of a racecourse at Qiddiya entertainment city, on the outskirts of Riyadh.

    The contract was awarded to Taj Dhabi, a local subsidiary of UAE-based Trojan Construction.

    The racecourse venue will cover 1.3 million square metres and accommodate 70,000 spectators.

    QIC issued the tender for the construction works in December last year, but formally announced the project only on 10 February. Contractors submitted their bids on 15 February, MEED previously reported.

    According to a statement published on QIC’s website: “The venue will include the region’s first straight-mile turf course, alongside a 2.2 kilometre (km) main turf track and a 2.4km inner dirt track.

    “A 21,000-seat grandstand will anchor the venue, with the ability to expand capacity to up to 70,000 guests through event overlays during major race days,” the statement added.

    A centrepiece of the venue will be a 110-metre central parade ring, located in the middle of the racecourse.

    The project also includes an equine hospital that will provide advanced veterinary services, including diagnostics, surgery, rehabilitation and emergency care for horses.

    The Qiddiya City horse racing venue is one of several major projects within the greater Qiddiya development. Other projects include an e-games arena, the Prince Mohammed Bin Salman Stadium, a motorsports track, a performing arts centre, the Dragon Ball and Six Flags theme parks, and Aquarabia.

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

    GCC presses ahead with tourism projects

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17506035/main.jpg
    Yasir Iqbal
  • NCP seeks firms for Saudi Arabia university hospital PPP

    Administrator

    1 July 2026

    Saudi Arabia’s Umm Al-Qura University, in collaboration with the National Centre for Privatisation & PPP (NCP), has launched an expression of interest for the completion of the construction and operation of the Umm Al-Qura University Hospital in Mecca.

    Issued to contractors on 30 June, the notice has a submission deadline of 21 July.

    The scope includes completing the remaining construction works, as well as the subsequent operation of the hospital.

    Upon completion, the hospital will have a capacity of 391 beds.

    The project will be delivered as a public-private partnership (PPP) under a design, build, finance, operate and maintain model.

    The contract duration is 30 years.

    The project is the latest healthcare project to be procured on a PPP basis in the kingdom. In June, MEED reported that Saudi Arabia’s Ministry of Health and NCP had awarded a PPP contract for the operation and management of the Sabic Specialised Behavioural Healthcare Hospital in Riyadh.

    That contract was awarded to SEH Healthcare, a consortium comprising local firms Specialised Medical Company (SMC Healthcare) and Health Gates Complex, and Germany’s Dr Ebel Fachkliniken.

    In a filing with the Saudi Exchange (Tadawul), SMC Healthcare said the total estimated project value is about SR3.8bn ($1bn).

    In January, Saudi Arabia launched a national privatisation strategy aimed at mobilising $64bn in private sector capital by 2030.

    Building on the privatisation programme first introduced in 2018, the strategy focuses on unlocking state-owned assets for private investment and privatising selected government services.

    In a statement, NCP said the strategy comprises 147 opportunities drawn from a broader pipeline of more than 500 projects across 18 sectors.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17506381/main.jpg
    Yasir Iqbal
  • Contractors express interest in Algerian aluminium project

    Administrator

    1 July 2026

     

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    The project to develop an aluminium industrial complex in Algeria’s Hautes Plaines region has made significant progress after expression of interest (EoI) documents were submitted in May, according to industry sources.

    The facility is being developed by Algeria’s state-owned Madar Holding and has an estimated value of around $300m.

    Under the current plan, the facility will be tendered in two packages.

    The scope of package one includes:

    • Construction of a can-making facility
    • Construction of the raw material handling area
    • Installation of trimming machines
    • Installation of conveyors, can handling systems and palletising equipment
    • Installation of utilities infrastructure related to power, heating, ventilation, air conditioning, water treatment and compressed air
    • Construction of support facilities including a maintenance workshop, offices and warehouses

    The scope of package two includes:

    • Installation of a rolling mill
    • Installation of melting and casting furnaces
    • Installation of material handling systems such as coil handling facilities, recoilers and shears
    • Construction of utilities infrastructure related to power, compressed air, lighting, heating, ventilation, air conditioning and water treatment
    • Installation of process cooling systems infrastructure such as water cooling towers, chillers and heat exchangers
    • Construction of support infrastructure such as maintenance workshops, warehouses, offices and storage yards

    The request to submit EoI documents was issued in April this year.

    Algeria is currently seeing an uptick in metal and mining project activity.

    In March, site preparation and construction work started at the 234-acre Oued Amizour zinc and lead mining project in Algeria’s Bejaia province.

    The project is being developed by Bejaia Zinc & Lead, an Algerian-Australian joint venture that was formerly known as Western Mediterranean Zinc.

    In November 2024, the company signed a $336m contract with Sinosteel Equipment & Engineering Company (Sinosteel MECC) to develop the project.

    The contract covers the construction of a 2-million-tonne-a-year process plant, an underground mine, a backfill plant, a dry-stack tailings storage facility and associated infrastructure.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/17505319/main.jpg
    Wil Crisp
  • On-site work starts for $5.4bn gas project in Algeria

    Administrator

    1 July 2026

    On-site work has started for the $5.4bn gas project in Algeria’s Illizi South block, days after a key meeting between Algeria’s Oil and Gas Minister Mohamed Arkab and the chief executive of the Saudi company Midad Energy, Sheikh Abdulelah Bin Mohammed Bin Abdullah Al-Aiban.

    The total investment of about $5.4bn will be fully financed by Midad Energy, including approximately $288m allocated to the exploration phase.

    It is being developed in partnership with Algeria’s national oil and gas company Sonatrach.

    Structured under Algeria’s Hydrocarbon Law No. 19-13, the agreement spans 30 years, with a 10-year extension option. It includes a seven-year exploration phase.

    The initial exploration phase is worth $288m and will involve 2D and 3D seismic exploration as well as drilling more than 13 appraisal wells, according to a report by the local news service Algerie360.

    The second phase, with an investment value of approximately $5.1bn, will involve drilling approximately 60 wells and constructing four natural gas compression units.

    The project is projected to produce a cumulative total of 125 billion cubic metres of natural gas and 204 million barrels of liquid hydrocarbons over 30 years.

    This will include 103 million barrels of liquefied petroleum gas and 101 million barrels of condensate.

    Midad Energy has also stated its intention to further expand its investment in Algeria’s oil and gas industry and explore new joint investment opportunities with Sonatrach.

    Algeria’s president, Abdelmadjid Tebboune, signed a presidential decree ratifying the development agreement in March.

    Presidential Decree No. 26-113 was issued on 8 March 2026 and underpinned by Articles 91-7 and 141.

    It approved a contract signed in Algiers on 13 October 2025 between Sonatrach and Midad Energy.

    The contract granted both companies the rights to explore and exploit hydrocarbons in the Illizi South area. Algeria’s National Agency for the Valorisation of Hydrocarbon Resources (Alnaft) announced the contract award on 11 October 2025.

    The block is located about 100 kilometres south of In Amenas, which was raided by Al-Qaeda-linked terrorists in 2013, leading to a hostage crisis.

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17505309/main.jpg
    Wil Crisp
  • Oman awards $2.3bn water services contract

    Administrator

    30 June 2026

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    Oman Water & Wastewater Services Company (Nama Water Services) has awarded a $2.28bn contract to a consortium led by French utility firm Suez to operate and maintain water and wastewater services in parts of the sultanate.

    In a statement, the operator said the 15-year performance-based contract covers Muscat and the North Sharqiyah and South Sharqiyah governorates, known as Cluster 1. The area is home to approximately 2.3 million people, representing about 43% of Oman’s population.

    The consortium also includes local firms National Trading Company and National Energy Centre, a local utility development and infrastructure company. It will deliver the contract through a dedicated company, National Sustainable Water Alliance.

    According to Suez, the contract is the company’s largest ever in the Middle East.

    The scope includes the operation and maintenance of 240 wells and 10,700 kilometres of water pipelines that distribute 470,000 cubic metres a day (cm/d) of drinking water. It also covers the refurbishment and upgrading of four desalination plants and the operation of more than 400,000 smart water meters.

    The wastewater package includes the operation and maintenance of 22 wastewater treatment plants with a combined treatment capacity of 280,000 cm/d. It also covers about 3,000km of sewer networks, 400km of treated effluent networks, and the installation and operation of new wastewater house connections.

    The contract includes 33 key performance indicators that will determine the consortium’s remuneration. These include reducing water losses from 34% to 11% by 2040, maintaining a continuous 24-hour water supply and improving preventive maintenance to extend the lifespan of water assets.

    The contract also includes a capacity-building programme to develop operational and management skills. Suez said the project will target more than 83% Omanisation in support of the government’s Vision 2040 objectives.

    Under the agreement, Nama Water Services will retain responsibility for strategic oversight and regulation, while the consortium will manage day-to-day operations.

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17492322/main.jpg
    Mark Dowdall
  • Gulf aviation’s toughest test since the pandemic

    Administrator

    30 June 2026

    Commentary
    Colin Foreman
    Editor

    The conflict that erupted on 28 February has tested Gulf aviation more severely than any event since the Covid-19 pandemic. Yet the sector’s response has revealed both its vulnerability and its underlying resilience in equal measure.

    The scale of the disruption has been severe. Between 28 February and 5 March alone, more than 15,000 flights were cancelled across seven major regional airports. Jet fuel prices are expected to average $152 a barrel this year, almost 70% above 2025 levels, while the International Air Transport Association now forecasts global airline net profit of $23bn in 2026, roughly half its earlier projection. 

    For Gulf hub carriers, whose business models depend on stable long-haul routings and transfer traffic, the financial hit has been unavoidable.

    The sector’s response has revealed both its vulnerability and its underlying resilience

    What is striking, however, is the speed and confidence of the recovery. Etihad is already operating at 90% of pre-war capacity, with fares back at pre-war levels and no plans to discount. Emirates, despite flying at just 58% of its capacity in March, posted a record annual profit and announced a 20-week salary bonus for staff. Riyadh Air pressed ahead with five new destinations in June. Dubai and Riyadh are together preparing to award tens of billions of dollars in airport construction contracts before the year is out.

    The pattern is consistent across tourism, too. Hotel and resort construction contracts in the GCC have already surpassed last year’s full-year total, and sovereign entertainment projects such as the Sphere Abu Dhabi are being formalised mid-conflict. Governments are making clear that their long-term infrastructure ambitions are not contingent on short-term demand.

    The coming months will determine how quickly international airline confidence, and the passengers that follow it, returns to the Gulf. The signals from within the region point firmly in one direction.

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17492201/main.gif
    Colin Foreman
  • DP World and Bahraini firm break ground on Jafza facility

    Administrator

    30 June 2026

    Dubai-based ports operator DP World and Lintara Properties, the real estate development arm of Bahrain-headquartered Arcapita Group Holdings, have commenced construction of a new 20,000-square-metre (sq m) build-to-suit logistics facility at Jebel Ali Free Zone (Jafza) in Dubai.

    The Grade A asset is being developed by Lintara Properties and will be operated by DP World as part of its integrated, end-to-end supply chain offering in the region.

    The project is slated for completion in Q1 2027.

    The facility will provide high-clearance warehousing, temperature-controlled zones, dedicated dangerous goods storage, office accommodation and related operational support amenities.

    The latest announcement follows Arcapita’s agreement last week with US-based firm Hines to establish an investment platform focused on industrial and logistics real estate assets across the GCC.

    The initiative will be supported by Lintara Properties.

    Arcapita has also signed an agreement with Asmo, the logistics joint venture of Saudi Aramco and DHL Supply Chain, to deliver a 1.4 sq m built-to-suit logistics complex at King Salman Energy Park (Spark) in Saudi Arabia.

    The project will feature a 43,000 sq m temperature-controlled Grade A warehouse; more than 3,000 sq m of office space and staff amenities; 5,300 sq m dedicated to chemical storage; and an open yard spanning about 1.2 million sq m.

    Planned for large-scale industrial use, the site is expected to incorporate advanced warehouse and building management systems, end-to-end digital connectivity, and automation and robotics.

    Lintara Properties was formally launched in October last year as a dedicated real estate asset management, development and investment advisory firm.

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

    Stress test for Gulf aviation; Mixed performance as country outlooks diverge in the Levant; GCC tourism sector pivots from crisis to recovery mode.

    Distributed to senior decision-makers in the region and around the world, the July 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17491690/main.jpg
    Yasir Iqbal
  • Read the July 2026 MEED Business Review

    Administrator

    30 June 2026

    Download / Subscribe / 14-day trial access

    The events that unfolded from 28 February delivered the Gulf aviation sector its toughest test since the Covid-19 pandemic.

    Missile and drone attacks exposed the fragility of one of the region’s most vital economic engines, triggering unprecedented disruption. In just one week, more than 15,000 flights were cancelled across seven major Gulf airports, leaving over 1.5 million passengers stranded and sending shockwaves through global travel networks.

    While the Gulf's national airlines have largely restored services, many international carriers remain absent, highlighting the lasting impact of the crisis.

    So what does this mean for the future of Gulf aviation? In the July issue of MEED Business Review, MEED editor Colin Foreman examines how the industry responded under extraordinary pressure – and why the crisis revealed not only its vulnerabilities, but also the remarkable resilience that will shape its next chapter.

    July’s market focus is on the Levant, and finds the region’s three markets – Jordan, Lebanon and Syria – recovering at different speeds and from very different starting points. 

    This edition also includes a tourism report as the first signs of recovery begin to emerge in Dubai, and the region presses ahead with tourism projects. 

    In the latest issue, we speak to EtihadWE about its roadmap for future projects, examine why the Mena projects market continues to show remarkable resilience despite regional conflict, and investigate whether Big Tech is delivering on its data centre ambitions.

    We also explore the multibillion-dollar opportunity emerging from the region’s evolving retirement savings market and discover how Aramco's citizen developers are accelerating digital transformation from within.

    We hope our valued subscribers enjoy the July 2026 issue of MEED Business Review. 

     

    Must-read sections in the July 2026 issue of MEED Business Review include:

    > AGENDA: Gulf aviation ambitions face uncertain future

    > AIRPORTS: Dubai and Riyadh reaffirm airport ambitions

    INDUSTRY REPORT:
    Tourism investment
    > Dubai eyes tourism sector recovery
    > GCC presses ahead with tourism projects

    > INTERVIEW: EtihadWE prepares roadmap for future projects 

    > PROJECTS MARKET: Mena project momentum holds despite conflict

    > DATA CENTRES: Big Tech falls short on data centre promise

    > SAVINGS: Retirement creates multibillion-dollar opportunity for region

    > LEADERSHIP: Aramco’s citizen developers accelerate digital change

    > INTERVIEW: Samsung E&A’s hydrocarbons business rooted in Mena

    > LEVANT MARKET FOCUS: 
    > COMMENT: Levant recovers in three speeds
    > GOVERNMENT: Jordan consolidates as deeper reforms lag
    > BANKING: Caution governs Jordanian bank lending
    > POWER & WATER: Record investment drives Jordan’s utilities market
    > ECONOMY: Gulf liquidity outpaces Syria’s financial revival
    > PROJECTS:     Momentum builds for Syrian projects
    > OIL & GAS: Activity ramps up in Syria’s oil and gas sector
    > CONSTRUCTION: Prospects improve for Levant construction
    > OIL & GAS: Lebanon taps foreign players to assess resources
    > DATABANK: Jordan faces fresh round of challenges

    > MEED COMMENTS: 
    >     UAE clears the path for recovery
    > Water tariffs near their floor
    > Petrofac seeks to reclaim lost ground
    > The UAE’s eastern pivot

    > GULF PROJECTS INDEX: Gulf index extends growth streak into 15th month

    > MAY 2026 CONTRACTS: Middle East contract awards

    > ECONOMIC DATA: Data drives regional projects

    > OPINION: The price of permanent risk

    > BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts

    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/17490904/main.gif
    MEED Editorial
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