Related Articles

• 
  Middle East drives electric vehicle revolution

  18 December 2025

  

   

  The global automotive landscape is undergoing a seismic shift as electric vehicles (EVs) become increasingly central to the industry’s future, according to GlobalData’s Strategic Intelligence platform. 

  This is not just a technological evolution but a geopolitical one, with the Middle East poised to play a pivotal role. The region, traditionally known for its oil reserves, is now at the forefront of the EV revolution, driven by strategic investments, policy shifts and a commitment to sustainability.

  In recent years, the Middle East has witnessed a surge in initiatives aimed at fostering the growth of EVs. Governments across the region are implementing policies to encourage EV adoption, recognising the dual benefits of reducing carbon emissions and diversifying their economies away from oil dependency. 

  The UAE, for example, has set ambitious targets to increase the number of EVs on its roads, supported by substantial investments in charging infrastructure and incentives for EV buyers.

  The strategic location of the Middle East, bridging Europe, Asia and Africa, provides a unique advantage in the global EV supply chain. This geographical positioning allows the region to serve as a critical hub for the distribution and manufacturing of EVs and their components. Countries like Saudi Arabia are capitalising on this by investing in local manufacturing capabilities, aiming to become leaders in the production of EVs and related technologies.

  The Middle East’s abundant natural resources, particularly in minerals essential for battery production, position it as a key player in the EV market. The region’s focus on developing a sustainable supply chain for these materials is crucial, as the global demand for batteries continues to rise. This strategic move not only supports the local economy but also strengthens the region’s influence in the global automotive industry.

  The shift towards EVs in the Middle East is also driven by a broader commitment to sustainability and climate goals. The region’s governments are increasingly aligning their policies with international environmental standards, recognising the
  importance of transitioning to cleaner energy sources. This alignment is reflected in the growing number of partnerships between Middle Eastern countries and leading global automotive companies, aimed at accelerating the development and deployment of EV technologies.

  Despite the challenges, momentum towards EVs in the Middle East remains positive

  Tackling challenges

  The transition is not without its challenges. The Middle East faces significant hurdles in terms of infrastructure development and consumer acceptance. 

  The establishment of a comprehensive charging network is critical to support the widespread adoption of EVs. Additionally, changing consumer perceptions and encouraging the shift from traditional combustion engines to EVs requires concerted efforts on the part of both the public and the private sector.

  Despite the challenges, the momentum towards EVs in the Middle East remains positive. The region-wide commitment to innovation and sustainability is evident in the proactive approach to addressing these issues. By investing in research and development, fostering international collaborations and implementing forward-thinking policies, the Middle East is positioning
  itself as a leader in the global transition to EVs. 

  As the world moves towards a more sustainable future, the region’s efforts to embrace EVs will not only transform its own transportation landscape, but also contribute significantly to global environmental goals. 

  The Middle East’s journey towards becoming a central player in the EV market is a compelling narrative of change, resilience and forward-thinking leadership.

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  MEED Editorial
• 
  Key technology themes poised to shape 2026

  18 December 2025

  

   

  The technological landscape in 2026 is poised for transformative shifts that promise to redefine industries and reshape societal norms. 

  The predictions for the coming year, as outlined in the Tech Predictions 2026 report published by UK analytics firm GlobalData’s Strategic Intelligence unit, highlight several areas where technology will make significant strides, from the Internet of Things (IoT) to artificial intelligence (AI), and from robotics to the future of mobility. 

  These advancements are not just incremental; they represent a paradigm shift in how technology integrates with and enhances human life.

  Anticipated advances

  The IoT is set to become an even more integral part of our daily lives, with the market expected to surpass $1.4tn by 2026. This growth is driven by advancements in wireless technologies, such as 5G and satellite networks, which will enhance connectivity and enable IoT devices to operate in remote locations. 

  The integration of AI into IoT, known as AIoT, will further revolutionise the field by enabling automated operations and predictive maintenance. 

  Security concerns remain a significant hurdle, as the fragmented security standards landscape poses risks to IoT deployments. The challenge lies in creating robust security frameworks that can protect vast networks of interconnected devices from cyber threats, ensuring that the benefits of IoT are not overshadowed by vulnerabilities.

  In the realm of AI, 2026 will witness the expansion of the agentic AI ecosystem. This new phase of AI development involves AI agents capable of autonomous decision-making, which will be utilised across various sectors. 

  Despite the potential of these technologies, the adoption of AI tools in enterprises will be tempered by uncertainties regarding their business value. Nonetheless, AI’s influence is undeniable, with its applications ranging from enhancing workplace productivity to transforming the gaming industry. 

  The ethical implications of AI, particularly in terms of decision-making and data privacy, will continue to be a topic of debate. As AI systems become more autonomous, the need for transparent algorithms and accountability mechanisms becomes increasingly critical.

  Robotics, too, is on the brink of a new era, fuelled by advancements in AI and cloud computing. These technologies will unlock new use cases for robots, particularly in service settings where they can assist humans in non-industrial environments. 

  The interest in humanoid robots is also expected to grow, driven by their potential to address labour shortages and perform tasks in hazardous environments. As major tech companies seek to expand their stake in the robotics industry, we can anticipate a wave of acquisitions and mergers. 

  The integration of robots into everyday life will raise questions about the future of work and the role of humans in an increasingly automated world. While robots can enhance efficiency and safety, there is a need to address the socioeconomic impacts of automation, particularly in terms of employment and skill development.

  The adoption of AI tools in enterprises will be tempered by uncertainties regarding their business value

  Driving change

  The future of mobility is another area where significant changes are anticipated. Expected to be a pivotal year for the adoption of robotaxis, in 2026 pilot projects will transition to commercial rollouts. This shift is facilitated by the collaboration between technology developers, ride-hailing platforms and regulators, which lowers the barriers to entry. 

  The electric vehicle market in North America is predicted to plateau, hindered by policy uncertainties and the expiration of key federal tax credits. 

  The development of autonomous vehicles will also necessitate advancements in infrastructure, such as smart roads and traffic management systems, to ensure safety and efficiency. Moreover, the environmental impact of increased vehicle automation and electrification will be a critical consideration, as the world grapples with the challenges of climate change.

  In the space economy, the market is projected to reach $453.9bn in 2026, driven by advances in communications and navigation technologies. The deployment of low Earth orbit satellite constellations will continue to enhance global connectivity, providing significant downstream capacity. 

  The convergence of space and quantum technologies is also on the horizon, with quantum sensing and cryptography being integrated into space-borne systems. This integration will open new frontiers in space exploration and security, offering unprecedented opportunities for scientific discovery and commercial ventures. 

  The militarisation of space and the potential for conflicts over space resources will require careful international cooperation and regulation.

  Streaming platforms, meanwhile, will face a profitability crunch as the market becomes increasingly saturated. To survive, platforms will need to consolidate and focus on dual content strategies that cater to both global and local audiences. 

  AI will play a crucial role in this transformation, enabling platforms to personalise content and streamline production processes. The competition for viewer attention will drive innovation in content delivery and user engagement, with immersive technologies such as virtual reality and augmented reality offering new ways to experience media. 

  The ethical implications of AI-driven content curation, particularly in terms of bias and misinformation, will need to be addressed to maintain trust and integrity in digital media.

  Positive outlook

  As we look to 2026, it is clear that technology will continue to be a driving force in shaping the future. Advancements in IoT, AI, robotics and mobility, among others, will not only transform industries but also redefine how we interact with the world around us. 

  However, these developments also bring challenges, particularly in terms of security, regulation and ethical considerations. As such, it is imperative for stakeholders to navigate these changes with a balanced and considered approach, realising the benefits while mitigating potential risks.

  The journey in 2026 is not just about technological innovation; it is about harnessing these advancements to create a more connected, efficient and sustainable world. As we embrace the possibilities of the future, we must also remain vigilant about the challenges that lie ahead, ensuring that technology serves humanity and not the other way around. The path forward will require collaboration, foresight and a commitment to ethical principles, as we strive to build a future that is inclusive, equitable and resilient.

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  MEED Editorial
• 
  Binghatti launches new Mercedes-Benz-branded residential project

  17 December 2025

  Dubai-based real estate firm Binghatti Developers has announced the launch of a new Mercedes-Benz-branded multi-tower residential development in Dubai.

  The developer said the total cost of the project is about AED30bn ($8bn).

  The project, named Mercedes-Benz Places Dubai, will span an area of about 10 million square feet.

  No further details about the features of the project or its construction timelines were disclosed.

  The development will be located within Binghatti’s first masterplanned community in the Meydan area of Dubai.

  In May, Binghatti announced that it had acquired freehold land in Meydan for what would be the company’s first large-scale, masterplanned residential community in Dubai.

  This is Binghatti’s second Mercedes-Benz-branded development in Dubai.

  In January, Binghatti unveiled the Mercedes-Benz Places by Binghatti project in Downtown Dubai.

  The 65-storey Mercedes-Benz Places by Binghatti is expected to blend the brand’s heritage with architectural design.

  At 341 metres, the building will house 150 residences, ranging from two- to four-bedroom units, including five penthouses.

  In its statement, Binghatti says it has a current portfolio valued at about AED80bn. This includes over 38,000 units under development across 38 projects in areas such as Downtown, Business Bay, Jumeirah Village Circle and Meydan, as well as flagship branded residences developed in collaboration with luxury partners Bugatti, Mercedes-Benz and Jacob & Co.

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  READ THE DECEMBER 2025 MEED BUSINESS REVIEW – click here to view PDF

  Prospects widen as Middle East rail projects are delivered; India’s L&T storms up MEED’s EPC contractor ranking; Manama balances growth with fiscal challenges

  Distributed to senior decision-makers in the region and around the world, the December 2025 edition of MEED Business Review includes:

  > AGENDA 1: Regional rail construction surges ahead > AGENDA 2:  Middle East becomes a hub as rail networks mature > INDUSTRY REPORT 1: Larsen & Toubro climbs EPC contractor ranking > INDUSTRY REPORT 2: Chinese firms expand oil and gas presence > LIBYA: Oil companies ramp up activity in Libya > CONSTRUCTION: Aramco Stadium races towards completion > RENEWABLES: UAE moves ahead with $6bn solar and storage project > INTERVIEW: Engie pivots towards renewables projects > BAHRAIN MARKET FOCUS: Manama pursues reform amid strain

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

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  Yasir Iqbal
• 
  Tabreed finishes the year on a high

  17 December 2025

  

   

  Tabreed is consolidating its position as a leading regional district cooling provider following a series of major transactions and new concessions that will reshape its portfolio in the UAE and beyond.

  In 2025, the company completed the AED3.87bn ($1bn) acquisition of PAL Cooling Holding (PCH) in consortium with CVC DIF, and finalised the long-term district cooling concession for Palm Jebel Ali in Dubai as part of a joint venture (JV) with Dubai Holding Investments.

  The PCH deal will eventually add about 600,000 refrigeration tons (RT) of capacity across eight long-term concessions in Abu Dhabi, raising Tabreed’s total connected capacity by 13% to 1.55 million RT. The AED1.5bn Palm Jebel Ali JV will ultimately deliver a further 250,000RT.

  Speaking to MEED, Tabreed CEO Khalid Al-Marzooqi outlined how the company is integrating the newly acquired brownfield assets, developing greenfield projects and advancing a new generation of sustainable cooling solutions, including geothermal energy for data centres.

  Tabreed’s recent milestones span both greenfield and brownfield investments, each requiring a different approach, says Al-Marzooqi. 

  Greenfield projects, such as Palm Jebel Ali, remain Tabreed’s preferred route for new capacity, he adds. “The beauty of a greenfield is that you can optimise it the way you want. You build it as you want.” 

  For new plants, Tabreed designs the civil structure to accommodate long-term capacity, while phasing in mechanical equipment in line with demand. By contrast, the acquisition of PCH is a large-scale brownfield integration, bringing in a portfolio of existing and future plants and networks, mainly on Abu Dhabi’s main island and Reem Island.

  The immediate focus is on integration and driving network synergies. “That’s the beauty of district cooling. If you achieve the synergies, the benefits literally double up and triple up as well,” Al-Marzooqi says.

  By interconnecting plants, Tabreed can avoid building for peak capacity at each individual site and instead leverage shared spare capacity across the network.

  Growth strategy

  Acquiring a competitor in Abu Dhabi is part of a strategy to sustain growth in a sector where many contracts follow build-own-operate-transfer or similarly time-bound models.

  Organic growth via new concessions and inorganic growth via acquisitions are both seen as key to maintaining and expanding the asset base.

  Tabreed’s portfolio remains weighted towards the UAE, with the home market accounting for the bulk of its business. 

  Beyond the UAE, Tabreed has built a regional presence, with a partially owned business in Saudi Arabia, where it sees significant growth potential as district cooling is integrated into gigaprojects and major urban developments; a wholly owned operation in Bahrain; and a majority stake in Tabreed Oman, a market that Al-Marzooqi says is expanding well.

  Despite the energy and lifecycle cost benefits of district cooling, Al-Marzooqi says tariff subsidies on conventional, building-level cooling are a barrier to adoption in parts of the UAE.

  “The killer for us is subsidy,” he says, explaining that artificially low tariffs for individual customers make it harder for district cooling to compete on price in Abu Dhabi compared to Dubai.

  He says that policy support and regulatory mandates are needed, particularly as existing buildings approach the end of life for their standalone cooling systems. At that point, compulsory connection to district cooling could lock in significant energy savings and emissions reductions at city scale.

  Raising Abu Dhabi’s district cooling penetration from about 15% towards Dubai’s estimated 30% remains a key concern and strategic objective.

  In Abu Dhabi, Tabreed has developed … the Middle East’s first geothermal-powered district cooling plant

  Geothermal breakthrough

  Alongside portfolio growth, Tabreed is investing in new technologies to decarbonise cooling, with a focus on large campuses, major developments and, increasingly, data centres.

  At Masdar City in Abu Dhabi, Tabreed has developed what Al-Marzooqi describes as the Middle East’s first geothermal-powered district cooling plant. 

  “We have started off by building the region’s first geothermal plant, to prove the concept of using geothermal energy to provide cooling,” he says. 

  The pilot plant is already achieving efficiency levels in the range of 0.5-0.6 kilowatts per ton (kW/ton) of cooling, better than Tabreed’s typical district cooling benchmark of about 0.85kW/ton. Conventional, standalone cooling systems generally consume about twice as much energy per ton.

  “This is proof that if you really want to pursue a sustainable cooling solution for data centres in this area, this is the one,” he says.

  Data centres are emerging as a priority growth segment for Tabreed. The facilities have high, continuous cooling loads and increasingly stringent decarbonisation requirements, making them a natural fit with both district cooling and geothermal systems.

  Al-Marzooqi says geothermal cooling is a “godsend solution” for data centres, combining 24/7 availability with the potential for near-zero operational emissions.

  For hyperscale and colocation data centre operators facing mounting pressure to reduce their carbon footprint, geothermal district cooling could offer a differentiated, long-term solution in the Gulf region, particularly where grid power is still largely fossil-fuel based.

  Tabreed’s technology agenda is not limited to low-carbon generation. The utility is in the second phase of connecting its plants to a centralised digital control centre, enabling remote operation and optimisation.

  The long-term goal is for the majority of plants to be unmanned, with operations centrally monitored and controlled. This integrated view of the network will enable the application of artificial intelligence and advanced analytics to fine-tune performance, optimise energy use and predict maintenance requirements. 

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  Colin Foreman
• 
  Kuwait Oil Company seeks higher project budgets

  17 December 2025

  

   

  Contractors in Kuwait expect to have answers by the end of the year on whether budgets for several key upstream projects in the oil and gas sector will be increased, according to industry sources.

  State-owned upstream operator Kuwait Oil Company (KOC) is seeking approvals for at least three upstream projects, for which bids came in 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 developing effluent water disposal plants for injector wells, had a low bid of $1.3bn.

  For KOC to increase the budgets for all three projects, approvals will be required from Kuwait Petroleum Corporation (KPC) and the country’s Ministry of Finance.

  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.

  Earlier this year, UK-based Petrofac had 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 about when a new invitation to bid will be issued and how the scope may change.

  Earlier in December, MEED reported that KOC was discussing whether to retender the contract using a different contract model.

  Initially, the project was tendered using the engineering, procurement and construction (EPC) contract model.

  Discussions are ongoing on whether it will be relaunched under a build-own-operate (BOO) contract model.

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  Wil Crisp