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• 
  Read the November 2025 MEED Business Review

  30 October 2025

  Download / Subscribe / 14-day trial access

  The GCC is projected to add at least 80 million tonnes a year (t/y) of liquefied natural gas (LNG) capacity by 2030, placing it firmly among the world’s top three producing regions.

  With soaring global demand for the super-chilled fuel, and regional producers committing tens of billions of dollars to significantly ramp up output, MEED’s latest issue focuses on the outlook for the Gulf’s LNG sector as it enters a new, prolific phase. 

  Beyond the Gulf, MEED finds other regional countries also investing in building LNG import infrastructure, driven by a need to increase the share of gas in their energy mixes.

  This month’s market focus covers the UAE, where physical and digital infrastructure projects are building a connected economy of the future. The UAE is demonstrating, once again, that strategic investment remains the cornerstone of its national progress.

  MEED’s latest issue also includes a report on the Gulf's project finance market, which is continuing to attract strong interest from local and international lenders. Iraq, meanwhile, is revealed as the leader in non-GCC project finance activity.

  This issue is bursting with analysis. The team looks at Abu Dhabi’s latest move to position itself at the forefront of the global transition to low-carbon heavy industry; examines the way in which Riyadh-based Digital Cooperation Organisation is using data to define and measure the digital economy; and asks if Saudi Arabia’s housing boom is leaving its citizens behind.  

  MEED and Saudi Arabia’s National Centre for Privatisation & PPP also showcase the scale and variety of opportunities available in the kingdom’s $190bn pipeline of public‑private partnership projects.

  We hope our valued subscribers enjoy the November 2025 issue of MEED Business Review. 

  

   

  Must-read sections in the November 2025 issue of MEED Business Review include:

  > AGENDA: 
  > Gulf LNG sector enters a new prolific phase
  > Mena LNG infrastructure spending rises

  INDUSTRY REPORT: PROJECT FINANCE > Region sees evolving project finance demand > Iraq leads non-GCC project finance activity

  > PPPs: NCP showcases private sector project opportunities in Saudi Arabia

  > GREEN STEEL: Abu Dhabi takes the lead in green steel transition

  > DIGITISATION: Riyadh-based organisation drives digital growth

  > LEADERSHIP: Saudi Arabia’s housing boom risks leaving citizens behind

  > UAE MARKET REPORT: 
  > COMMENT: Investment shapes UAE growth story
  > GOVERNMENT: Public spending ties the UAE closer together
  > ECONOMY: UAE growth expansion beats expectations
  > BANKING: Stability is the watchword for UAE lenders
  > OIL & GAS: Adnoc strives to build long-term upstream potential
  > PETROCHEMICALS: Taziz fulfils Abu Dhabi’s chemical ambitions at pace
  > POWER: UAE power sector hits record $8.9bn in contracts
  > WATER: Tunnel projects set pace for UAE water sector
  > CONSTRUCTION: UAE construction faces delivery pressures
  > TRANSPORT: $70bn infrastructure schemes underpin UAE economic expansion
  > DATABANK: UAE growth exceeds predictions

  > MEED COMMENTS: 
  > Neom omitted from Saudi pre-budget statement
  > Qiddiya high-speed rail PPP is a bold but risky move
  > Wood leadership change holds promise for future
  > Power market reshapes contractor landscape

  > GULF PROJECTS INDEX: Gulf projects market leaders return to fore

  > SEPTEMBER 2025 CONTRACTS: Qatar leads awards as regional activity slows

  > ECONOMIC DATA: October 2025: Data drives regional projects

  > OPINION: Peace mission impossible

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

  To see previous issues of MEED Business Review, please click here

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  MEED Editorial
• 
  Contractors submit UAE high-speed rail bids

  30 October 2025

  

   

  The UAE’s Etihad Rail received bids on 29 October from contractors for the tender to design and build the civil works and station packages for the high-speed railway (HSR) line connecting Abu Dhabi and Dubai.

  Earlier in October, MEED exclusively reported that contractors were forming joint ventures to bid for upcoming design-and-build work packages for the UAE’s high-speed railway project.

  MEED understands that the group formations for the civil works packages are as follows:

  • Limak / Dogus / Ozkar (Turkiye) – Dubai section
  • NPC / Trojan Tunnelling / Kalyon / China State (UAE/UAE/Turkiye/China) – Dubai and Abu Dhabi section
  • WeBuild / Tristar (Italy/UAE) – Abu Dhabi section
  • L&T / China Harbour / Hilalco / Wade Adams (India/China/local/local) – Dubai and Abu Dhabi
  • China Civil Engineering Construction Corporation (China) – Dubai and Abu Dhabi
  • China Railway Engineering Corporation (China) – Dubai section
  • China Railway Engineering Corporation / WBG (China/local) – Abu Dhabi

  French engineering firm Systra is the designer for the Limak-led consortium.

  US-based Jacobs is the designer for the NPC group.

  A joint venture of Systra and US-based Aecom is the designer for the WeBuild group.

  French engineering firm Egis and Singapore’s Surbana Jurong are the designers for the L&T-led consortium.

  Switzerland’s ARX is working with China Civil Engineering Construction Corporation as its designer.

  Chinese firm China Railway Eryuan Engineering Group is working with China Railway Engineering Corporation as its lead designer for both sections of the project.

  Teams are also forming for the systems package. These are:

  • Siemens / Rowad / Salcef (Germany/Egypt/Italy)
  • Hitachi / Orascom (Japan/Egypt)
  • Alstom / L&T (France/India)
  • CRRC (China)
  • Hyundai Rotem / Posco (South Korea)
  • Talgo / Hassan Allam (Spain/Egypt)
  • CAF (Spain)

  The design speed of the trains running on the UAE’s HSR network will be 350 kilometres an hour (km/h) and the operating speed will be 320km/h, as MEED reported last year.

  The proposed HSR programme will be constructed in four phases, gradually adding further connectivity to other areas within the UAE.

  The first phase involves constructing a railway line connecting Abu Dhabi and Dubai, which is expected to be operational by 2030.

  The second phase will develop an inner‑city railway network with 10 stations within the city of Abu Dhabi.

  The third phase of the railway network involves constructing a connection between Abu Dhabi and Al-Ain.

  The fourth phase involves developing an inter-emirate connection between Dubai and Sharjah.

  The 150km first phase of the HSR will stretch from the Al-Zahiyah area of Abu Dhabi to Al-Jaddaf in Dubai.

  The project’s civil works have been split into two packages – Abu Dhabi and Dubai – comprising four sections. The scope of these sections includes:

  • Phase 1A: Al-Zahiyah to Yas Island (23.5km) 
  • Phase 1B: Yas Island to the border of Abu Dhabi/Dubai (64.2km)
  • Phase 1C: Abu Dhabi/Dubai border to Al-Jaddaf (52.1km)
  • Phase 1D: Abu Dhabi airport delta junction and connection with Abu Dhabi airport station (9.2km)

  The rail line will have five stations: Al-Zahiyah (ADT), Saadiyat Island (ADS), Yas Island (YAS), Abu Dhabi International Airport (AUH) and Al-Jaddaf (DJD).

  The ADT, AUH and DJD stations will be underground, while ADS will be elevated and YAS will be at grade.

  The overall construction package also includes provisions for rolling stock, railway systems and two maintenance depots.

  The high-speed project will slash journey times between the UAE’s two largest cities and economic centres. The journey time between the YAS and DJD stations will be 30 minutes.

  Preliminary site testing works have begun. Dubai-based Matcon Testing Laboratory and Abu Dhabi’s Engineering & Research International are conducting drilling tests to ascertain the ground conditions in areas through which the HSR will pass. 

  Spanish engineering firms Sener and Ineco are the project’s engineering consultants.

  

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  Yasir Iqbal
• 
  Kuwait Oil Company seeks approval to increase budgets

  30 October 2025

  

   

  State-owned upstream operator Kuwait Oil Company (KOC) is seeking approval from Kuwait Petroleum Corporation (KPC) to increase budgets for key projects, according to industry sources.

  Approvals are currently being sought for three upstream projects, which saw bids submitted significantly over budget.

  The first project, with a low bid of $2.47bn, involves the development of two facilities: Separation Gathering Centre 1 (SGC-1) and Water Injection Plant 1 (WIP-1).

  The second project, with a low bid of $2.48bn, focuses on developing SGC‑3 and WIP‑3.

  The third project, which involves the development of effluent water disposal plants for injector wells, had a low bid of $1.3bn.

  If approval is given by KPC, then final approval will be sought from the country’s Ministry of Finance, industry sources said.

  Already cancelled

  One Kuwaiti oil project tender that received bids significantly above budget has already been cancelled.

  On 7 October, MEED reported that the tender for the SGC-2 oil project – focused on the installation of a separation gathering centre – was cancelled by Kuwait’s Central Agency for Public Tenders.

  In May, MEED reported that UK-based engineering firm Petrofac submitted a bid more than double the project’s proposed budget.

  Petrofac’s bid was KD422.45m ($1.37bn), while the provisional budget stood at KD207m ($670.2m).

  This contract is expected to be retendered, but there is significant uncertainty over when a new invitation to bid will be issued and how the scope may be changed.

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  Wil Crisp
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  Nakheel launches Palm Jebel Ali residential buildings

  30 October 2025

  Dubai-based real estate developer Nakheel, now part of local developer Dubai Holding, has launched the Palm Central Private Residences on Palm Jebel Ali.

  The development will offer 212 residences, ranging from one- to five-bedroom apartments across three mid-rise buildings.

  The project will be located on Palm Jebel Ali's central spine between Frond M and Frond N.

  The latest launch follows the unveiling of Palm Jebel Ali’s Beach and Coral Collection villas, developed in collaboration with international architects.

  Nakheel released details of the new masterplan for Palm Jebel Ali in June 2023. Twice the size of Palm Jumeirah, Palm Jebel Ali will have 110 kilometres of shoreline and extensive green spaces. The development will feature more than 80 hotels and resorts, along with a range of entertainment and leisure facilities.

  It includes seven connected islands that will cater to approximately 35,000 families. The development also emphasises sustainability, with 30% of public facilities expected to be powered by renewable energy.

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  Yasir Iqbal
• 
  Iraq awards Baghdad airport PPP deal

  29 October 2025

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  Iraq has awarded a contract to develop Baghdad International airport on a public-private partnership (PPP) basis to a consortium comprising Luxembourg-based Corporacion America Airports (CAAP) and local firm Amwaj International.

  According to local media reports, the estimated $764m contract covers the rehabilitation of airport infrastructure, construction of a new passenger terminal, and operations and maintenance under a 25-year concession.

  In a statement on its website, the Ministry of Transport said the airport’s initial capacity is expected to be around 9 million passengers, gradually increasing to 15 million.

  Iraq’s Ministry of Transport and General Company for Airports & Air Navigation Services received the bids earlier this month, MEED reported.

  The bidding consortium included:

  • Asyad Holding / Top International Engineering Corporation / Lamar Holding / YDA Insaat / Dublin Airport Authority (Saudi Arabia/Saudi Arabia/Saudi Arabia/Turkiye/Ireland) 
  • Corporacion America Airports / Amwaj International (Luxembourg/Iraq)
  • ERG International / Terminal Yapi / ERG Insaat (UK/Turkiye/Turkiye)

  The media report added that the winning consortium offered the government 43.05% of total airport revenues.

  The Asyad-led consortium offered 38.05%.

  The ERG International-led consortium was disqualified from the bidding process.

  The International Finance Corporation (IFC), a member of the World Bank Group, is the project’s lead transaction adviser.

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  Yasir Iqbal