meed-logo

line1 line2 line3
SIGN IN / REGISTER

Contractors take on more work in 2025

30 April 2025

 

Contractors in the region have increased their orderbooks in the past year as the GCC’s key construction markets – Saudi Arabia and the UAE – have continued to award major contracts. 

In Saudi Arabia, the rate of growth has not matched that experienced in 2023-24, which suggests that the market is reaching saturation at time when client bodies are assessing their future spending plans.

In the UAE, the value of projects that contractors are working on has increased significantly, which reflects the start of public works schemes such as the Dubai Metro, as well as the ongoing boom in real estate, which has allowed developers to start work on an array of new building projects.

Top performers

Based on data from regional projects tracker MEED Projects, the GCC’s most active contractor is Saudi Arabia’s Nesma & Partners, with $13.9bn of work at the execution stage. While it remains the top-ranked contractor, the total value of projects it has at the execution stage has dropped from the $15bn total it had in 2024.

While Nesma & Partners remains the top-ranked contractor in 2025, the total value of projects it has at the execution stage has dropped

In 2024, Nesma was ahead of the second-ranked contractor by $5bn – Italy’s Webuild had $10bn of projects under execution last year. This year, the contractor in second place, Beijing-based China State Construction Engineering Corporation, is just $300m behind Nesma with $13.5bn. China State has grown strongly over the past five years, as it has expanded its presence in Saudi Arabia significantly and is now the second-ranked contractor in the kingdom. 

Turkiye’s Limak, which is in third position, is also close behind with $12.9bn of projects under execution. Limak has added the Dubai Metro Blue Line project to its existing work on Kuwait International airport.

There are five other Saudi firms in the top 10, which reflects the kingdom’s status as the region’s largest construction market, and the ambition and scale of its infrastructure spending and gigaprojects programme. 

The other Saudi contractors in the top 10 are Almabani in fourth place with $8.5bn of projects; Shibh Al-Jazira, which also has $8.5bn of projects, in fifth; and El-Seif Engineering Contracting in sixth with $8.3bn of projects under execution. 

Al-Bawani then follows in eighth position with $7.3bn of projects, and Saudi Binladin Group rounds out the top 10 with $6.5bn of projects in 10th place.

The other contractors in the top 10 are Abu Dhabi-headquartered Trojan General Contracting, which is in seventh place with $8bn of projects, and Dubai-based Alec, which has secured ninth place in the ranking with $6.8bn of work at the execution stage, spilt between its home market in the UAE and Saudi Arabia.

Alec is reportedly considering an initial public offering, which is another sign of how well the construction sector is performing in 2025.

Bahrain

The top two contractors in Bahrain’s ranking in 2025 remain the same. China Machinery Engineering Corporation (CMEC) retains the top spot with $700m of work at the execution phase. The Chinese contractor’s work centres on building residential units at East Sitra for the Housing & Urban Planning Ministry. In July 2024, it signed a deal to build 1,269 houses for the third phase of the scheme.

The third phase adds to the project’s second phase, which has 531 units and was handed over in early 2024. The first phase, which has 1,077 units, has also been handed over. The housing ministry signed a BD260m ($689.9m) deal with CMEC for the construction of more than 3,000 housing units at East Sitra in December 2019.

Al-Hamad Building Contracting remains the second-ranked contractor. Its largest project is the longstanding Villamar residential complex at Bahrain Financial Harbour in Manama for Gulf Holding Company.

Grnata joins the top 10 in third position. Its largest ongoing project is the Golden Gate Towers scheme in Manama for the Grnata Group, which involves the construction of two towers, one with 45 and the other with 53 storeys, that together will have a total of 746 apartments.

Grnata edges out Nass Contracting, which was in third place in 2024. Nass drops down the ranking despite two high-profile contract awards. In May 2024, its joint venture with Nassir Hazza & Bros won a BD37.2m contract for the construction works on package three of the Busaiteen Link scheme for the Works Ministry.

Nass also won a $45m contract in June 2024 for the expansion of the campus of the Royal College of Surgeons in Ireland-Medical University of Bahrain in the Al-Sayh area of Muharraq Governorate.

Kuwait

For the second year running, Turkiye’s Limak Holding has strengthened its position at the top of Kuwait’s ranking. The contractor has $6.1bn of construction work at the execution stage, according to MEED Projects. This is about $500m more than the $5.6bn it had in 2024.

In October 2024, Limak was one of the contractors that secured work as part of more than KD400m ($1.3bn) of road maintenance works contracts that were awarded by the Public Works Ministry to 18 local and international companies.

The road work adds to Limak’s ongoing works at Kuwait International airport. In 2023, it secured a contract for package three of the expansion of Terminal 2, which covers the construction of aircraft parking aprons, taxiways and service buildings.

China Gezhouba Group Corporation is in second position. In March this year, it won two contracts worth over $557m from Kuwait’s Public Authority for Housing Welfare for the South Saad Al-Abdullah residential project in Al-Jahra Governorate.

China Gezhouba Group Corporation’s rise to second place shifts Shapoorji Pallonji into third place. The Indian contractor is working on two healthcare projects and one education scheme in a joint venture with the local Al-Sager General Trading & Contracting, which is also working on $1.4bn of projects at the execution stage.

Oman

The local Galfar Engineering & Contracting topped Oman’s 2024 ranking with $900m of work at the execution stage. In 2025, there are seven contractors in Oman that have more than $900m of construction work under execution, which reflects an increased level of projects activity across the sultanate. 

Galfar remains the top-ranked contractor in 2025 with $2.5bn of work at the execution phase. 

Last year, as part of a consortium with Abu Dhabi-based National Projects Construction, National Infrastructure Construction Company and Tristar Engineering & Construction, it won an estimated $1.5bn design-and-build contract for the Hafeet Railway project connecting the sultanate with the UAE. It also won a $119.5m contract from the Transport, Communication & Information Technology Ministry for the dualisation of the road connecting the city of Nizwa and the nearby town of Izki.

The overall uptick in projects activity in Oman has meant that the 10th-ranked contractor in 2025 has $500m of work at the execution stage compared to just $200m for the 10th-ranked contractor in 2024. 

Qatar

UCC Holding leads the Qatar ranking in 2025. The local firm was ranked the fifth most active contractor in 2024 with $1.2bn of projects at the execution stage. That total has increased to $1.3bn this year, and with the Qatar construction market remaining subdued after the Fifa World Cup in 2022, it is enough to take UCC to the top of the ranking. 

The contractor’s main ongoing projects are part of the country’s public-private partnership schools scheme. Earlier this year, it signed an estimated $330m deal covering the design, build and maintenance of 14 schools in several areas of Qatar.

UCC Holding also has two major road schemes under execution for the Public Works Authority (Ashghal). UCC is in a joint venture with Infraroad Trading & Contracting Company for both projects. 

The first contract, valued at $170m, covers the construction of the roads and infrastructure works in Al-Mearad and southwest of Muaither. The other, valued at $150m, covers the construction of roads and infrastructure works in the Al-Kharaitiyat and Izghawa areas of Doha.

UCC replaces Turkiye’s TAV Construction and the local Midmac Contracting Company, which jointly held the top ranking position in 2024 with $1.4bn of projects at the execution phase thanks to the terminal expansion programme at Hamad International airport. 

The expansion, which has added 51,000 square metres of space to the airport, including eight new gates, opened in February this year.

Saudi Arabia

There was an expectation in 2024 that Saudi Arabia’s contractor ranking would be transformed in 2025 as development activity accelerated on projects across the kingdom. 

While activity in the kingdom continues, the pace of awards has levelled off as the government and the Public Investment Fund (PIF) have begun to prioritise projects. This drive to rationalise the projects market can be seen in the contractor ranking for 2025. 

Like last year, Nesma tops the list, with $13.9bn of work at the execution stage. This total is less than the $14.7bn of projects that the local contractor had in 2024. 

China State Construction Engineering Company is in second with $9.3bn of projects under execution. The Beijing-based contractor has risen up the ranking from 10th place last year, when it had $3.9bn of projects under execution.

The largest new contract that the firm has secured in the past year is a $3bn scheme to deliver 2,000 housing units for the National Housing Company at several locations in the kingdom. 

China State is joined in the top 10 in 2025 by another Chinese contractor: China Harbour Engineering Corporation, which is in 10th place with $5.6bn of work. One of its recent wins was in June last year, when it secured an $800m contract in joint venture with Al-Ayuni Investment & Contracting for the construction works on the second southern ring road in Riyadh.

China Harbour replaces Greece’s Archirodon, which has dropped out of the Saudi top 10 in 2025. The other contractors in the 2025 top 10 ranking remain from 2024. 

UAE

There is no change at the top of the UAE contractor ranking, as Abu Dhabi-based Trojan General Contracting once again leads in 2025. The firm has $7.2bn of projects under execution this year, compared to $6.2bn in 2024.

There have been significant changes to the companies making up the rest of the ranking, however, and to the value of projects that contractors have under execution. This reflects a shift in the market in 2024, as government-backed infrastructure projects moved into construction. 

In 2024, the second-ranked contractor was Abu Dhabi-based National Marine Dredging Company with $3.1bn of projects under execution – a total that would not even make the top 10 in 2025. This year, it is the fifth-ranked contractor, with $4.7bn-worth of projects.

In 2025, the second-ranked contractor is Turkiye’s Mapa with $6bn of projects – thanks largely to a contract it secured in December 2024 for the Blue Line extension of Dubai Metro. Mapa is joined by China’s CRRC Corporation in third place and Turkiye’s Limak in fourth, which are also working on the Blue Line project. 

Abu Dhabi-headquartered Arabian Construction Company is the sixth-ranked contractor with $4.5bn. The firm, which specialises in high-end building projects, returns to the top 10 amid reports that it is planning to list on the stock market with an initial public offering.

The other contractors in the UAE’s top 10 listing are Beijing-based China State Construction Engineering Corporation, India’s Sobha, UK-headquartered Innovo and the local Alec. 

Alec has dropped from fourth position in 2024 to 10th this year, despite increasing the value of projects under execution from $2.6bn to $3.3bn, which reflects how much contractors’ orderbooks have filled up over the past year.

https://image.digitalinsightresearch.in/uploads/NewsArticle/13767362/main.gif
Colin Foreman

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • AI signals a new efficiency era for oil and gas

    11 February 2026

    Artificial intelligence (AI) is poised to deliver one of the biggest leaps in operational efficiency the oil and gas industry has seen in decades – but not in the ways most expect. In a sector where progress is typically measured in micro-optimisations, harsh terrain, sprawling pipelines and escalating security risks make even small improvements valuable. Now, machine learning, edge computing, the industrial internet of things (IIoT), cloud and big data are converging into something far more disruptive.

    A major global oil and gas player recently tested an intriguing Proof of Concept with Nokia, leveraging existing fiber buried along pipelines for real-time “fiber sensing.” What they uncovered could reshape how infrastructure threats are detected. Optical fiber, it turns out, is sensitive enough to register disturbances caused by everything from rainfall to trucks, earthquakes and human intrusion. When paired with long-range anomaly detection, the implications for pipeline safety stretch far beyond routine monitoring. Just how precise – and how operational teams might act on these signals – remains part of the unfolding story.

    Telemetry data, already flowing in vast quantities between remote operations and headquarters, is fuelling even more ambitious AI use cases. Predictive bandwidth scaling, digital twinning, precision timing optimisation and automated network reconfiguration are all being explored to strengthen performance and resiliency. But with high innovation comes high stakes: one model glitch could invalidate results, burn time and inflate costs. How companies balance the promise of AI with the risks of over-automation is a tension worth watching.

    Then there’s the looming security horizon. Cybercrime already threatens data-heavy operations, but oil and gas firms are increasingly preparing for something even more destabilising – the quantum threat. While cryptographically relevant quantum computers aren’t here yet, adversaries are already stockpiling encrypted data using Harvest Now Decrypt Later tactics. Multi-layer encryption defences like OTNsec, ANYsec and MACsec offer new protective possibilities, but questions remain around scalability, adoption barriers and readiness timelines.

    To unlock AI’s full potential, oil and gas networks must evolve to deliver extreme speed, low latency, massive compute support and future-proof security. Nokia has built solutions across all these fronts, including private 4G/5G for remote industrial environments. But what specific breakthroughs lie ahead – and how soon they could impact global operations – is where the real curiosity begins.

    The summary hints at the disruption. The details? That’s inside the full article here.

    Published in partnership with

    https://image.digitalinsightresearch.in/uploads/NewsArticle/15627990/main.gif
    MEED Editorial
  • February deadline for Qiddiya racecourse bids

    11 February 2026

     

    Register for MEED’s 14-day trial access 

    Saudi gigaproject developer Qiddiya Investment Company (QIC) has allowed bidders until 15 February to submit bids for a tender covering the construction of a racecourse at the entertainment city of Qiddiya, on the outskirts of Riyadh.

    MEED understands that the tender was issued in December. The previous deadline was 26 January.

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

    QIC formally announced the project on 10 February.

    According to a statement published on its 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.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/15626248/main.jpg
  • King Salman airport signs mixed-use project agreements

    11 February 2026

    Register for MEED’s 14-day trial access 

    King Salman International Airport Development Company (KSIADC) has signed multiple memorandums of understanding with local firms to develop several mixed-use projects within King Salman International airport (KSIA) in Riyadh.

    The agreements were signed on the sidelines of the Private Sector Forum 2026 in Riyadh.

    The agreements involved major investment and development firms, including Sumou Holding, Mohammed Al-Habib Investment, Kinan, Ajdan, Retal, Urjuan and Osus.

    The developments will comprise residential, commercial, retail, hospitality, entertainment and other related projects.

    These developments will be located within the airport’s master development area, 12 square kilometres (sq km) of which are allocated for real estate development.

    According to a statement published by the Saudi Press Agency, “KSIADC’s development scope also includes integrated economic and logistics zones covering approximately 3 million square metres, aligning real-estate development with economic activity and supporting services."

    Project scale

    The project covers an area of about 57 sq km, allowing for six parallel runways, and will include the existing terminals at King Khalid International airport. 

    The airport aims to accommodate up to 100 million passengers by 2030. The cargo processing goal is to reach 2 million tonnes a year by 2030.

    Saudi Arabia plans to invest significantly in its aviation sector. Riyadh’s Saudi Aviation Strategy, announced by the General Authority of Civil Aviation, aims to triple Saudi Arabia’s annual passenger traffic to 330 million travellers by 2030.

    It also aims to increase air cargo traffic to 4.5 million tonnes and raise the country’s total air connections to more than 250 destinations.

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

    Spending on oil and gas production surges; Doha’s efforts support extraordinary growth in 2026; Water sector regains momentum in 2025.

    Distributed to senior decision-makers in the region and around the world, the February 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/15626197/main.jpg
    Yasir Iqbal
  • Saudi Arabia signs $5.3bn Syria reconstruction deal

    11 February 2026

    Register for MEED’s 14-day trial access 

    Saudi Arabia has signed a package of strategic agreements with Syria valued at $5.3bn (SR20bn) to progress Damascus’s reconstruction efforts.

    The agreements span aviation, telecommunications, energy, water, industry, real estate and development finance, and involve both public and private Saudi entities.

    The most significant deal will see Saudi Arabia and Syria jointly support the creation of a new low-cost carrier based in Syria – Flynas Syria – in a 51-49 joint venture between the Syrian General Authority of Civil Aviation and Saudi low-cost carrier Flynas.

    The carrier is scheduled to begin operations in the fourth quarter of 2026, with routes planned across the Middle East, Africa and Europe.

    Other aviation infrastructure also features prominently, with Saudi Arabia also announcing the launch of the ‘Elaf Fund’ and committing $2bn (SR7.5bn) to the phased development and modernisation of two international airports in Aleppo.

    The programme will include runway upgrades, terminal expansion and logistics facilities, transforming the northern city into a regional transport and cargo hub.

    Some of the deals confirmed previously announced commitments, including a $1bn telecommunications infrastructure investment agreement signed by Saudi Telecom Company (STC) under the ‘SilkLink’ project.

    This initiative will see STC construct a 4,500-kilometre fibre-optic network across Syria, develop data centres and establish international submarine cable landing stations.

    Saudi Arabia previously committed to investing $1bn into Syria’s telecommunications infrastructure in July 2025, as part of $6.4bn in commitments across 47 agreements announced at the Syrian-Saudi Investment Forum in Damascus.

    The kingdom’s Water Transmission Company and Acwa also signed an agreement to develop a large-scale seawater desalination project with a capacity of 1.2 million cubic metres a day.

    Riyadh Cables Group will meanwhile help modernise the production capabilities of the Syrian Modern Cables Company, and three separate agreements were signed for large residential and commercial real estate developments.

    With the lifting of US sanctions in late 2025, the pathway for Gulf countries to proceed with such commitments and for Syria to re-enter regional markets has opened.

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

    Spending on oil and gas production surges; Doha’s efforts support extraordinary growth in 2026; Water sector regains momentum in 2025.

    Distributed to senior decision-makers in the region and around the world, the February 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/15625394/main.gif
    MEED Editorial
  • Indian firm wins contract for UAE battery project

    11 February 2026

    Register for MEED’s 14-day trial access 

    India’s KPI Green Energy has won a contract to deliver a solar and battery energy storage system (bess) in the UAE.

    The scope includes the supply, installation and commissioning of a 33kWp solar power system integrated with a 573kWh battery energy storage system to power a containerised data centre.

    The award was confirmed through a purchase order issued by FVE Lifecare, a UAE private trading company. The firm is understood to be procuring the solar-bess system for an internal or third-party data centre.

    KPI Green Energy said the project will be delivered through its subsidiary Sun Drops Energia.

    The package also covers a 120kVA modular UPS system, electrical panels, cabling and full system integration.

    The contract is small-scale but reflects broader momentum for battery storage in the UAE across both private facilities and the national grid.

    Construction is expected to begin this month on the UAE’s largest grid-side energy storage project to be awarded through open tender.

    Called Bess 1, the project closely follows the model of Abu Dhabi’s independent power project (IPP) programme, in which developers enter into a long-term energy storage agreement (ESA) with Ewec as the sole procurer.

    Etihad Water & Electricity (EtihadWE) and South Korea’s Kepco won the award to develop the project in October.

    Emirates Utilities Development Company, a subsidiary of EtihadWE, will develop and operate the project in partnership with Kepco. 

    Chinese firm Dongfang International is the engineering, procurement and construction contractor.

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

    Spending on oil and gas production surges; Doha’s efforts support extraordinary growth in 2026; Water sector regains momentum in 2025.

    Distributed to senior decision-makers in the region and around the world, the February 2026 edition of MEED Business Review includes:
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/15623323/main.jpg
    Mark Dowdall