Related Articles

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  Saudi Arabia qualifies firms for gas-fired IPPs

  28 September 2026

  Principal buyer Saudi Power Procurement Company (SPPC) has qualified 13 companies to bid for the third round of Saudi Arabia’s combined-cycle gas turbine (CCGT) independent power producer (IPP) programme.

  The projects will comprise new CCGT plants developed on a build-own-operate basis. Each project will be implemented through a special-purpose project company wholly owned by the successful bidder.

  The qualified firms are:

  • Abu Dhabi National Energy Company [Taqa] (UAE)
  • Acwa (Saudi Arabia)
  • Al-Bawani Capital (Saudi Arabia)
  • Al-Jomaih Energy & Water (Saudi Arabia)
  • EDF (France)
  • Etihad Development Company (UAE)
  • Kepco (South Korea)
  • Marafiq (Saudi Arabia)
  • Mitsubishi Power (Japan)
  • Nesma Renewable Energy (Saudi Arabia)
  • PowerChina (China)
  • Saudi Energy (Saudi Arabia)
  • Sumitomo Corporation (Japan)

  Developers submitted statements of qualification for the round on 23 August, as exclusively reported by MEED.

  Some have already begun “the process of forming consortiums to bid” for the project, with up to three or four groups likely to make offers.

  Also in September, MEED exclusively reported that US-based GE Vernova was close to finalising a turbine reservation agreement with SPPC for the plants.

  The new plants will use advanced H-class or J-class gas turbine technology. Each IPP is expected to comprise two or three gas turbine generators, corresponding heat recovery steam generators with duct firing, and one or two steam turbine generators.

  The request for qualifications released by SPPC in July did not specify the number, locations or capacities of the projects, which mark the next stage of its CCGT IPP programme.

  The first round comprises Taiba 1, Taiba 2, Qassim 1 and Qassim 2, with a combined capacity of 7,200MW.

  The second round comprises Rumah 1, Rumah 2, Nairyah 1 and Nairyah 2, also with a combined capacity of 7,200MW.

  Saudi Arabia’s Acwa recently said it had begun initial commercial operations at the Taiba 1 and Qassim 1 CCGT power plants.

  US/India-based Synergy Consulting is the financial adviser for the procurement; Germany’s Fichtner is the technical adviser; and UK-headquartered Eversheds Sutherland is the legal adviser.

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

  Nuclear power ambitions gather pace; Kuwait keeps dealmaking alive despite war; Region invests in raising gas processing capacity.

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

  > AGENDA: Gulf nuclear revival takes shape > MARKET FOCUS: Kuwait keeps dealmaking alive under fire > INDUSTRY REPORT: Gas processing takes centre stage in Mena region > INTERVIEW: Emsteel persists with business productivity and efficiency > TUNNELS: The Gulf’s next construction boom is happening underground

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

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  Mark Dowdall
• 
  Ohana begins Abu Dhabi project construction

  25 September 2026

  Dubai-based real estate firm Ohana Development has started the main construction works on the $4bn Manchester City Football Club-branded gated waterfront community on Yas Canal in Abu Dhabi.

  The construction works are being carried out by Ohana-owned Nova International General Contracting.

  The development will span an area of about 1.67 million square metres. It will include 2,000 residential units, ranging from four- and five-bedroom villas to mansions, penthouses and apartments, across six clusters.

  The project is slated for completion in 2029 and will be delivered in two phases.

  It will be located on Yas Canal, next to Ferrari World Abu Dhabi and SeaWorld Abu Dhabi.

  The development is Manchester City’s first branded residential project worldwide.

  A key feature of the project is a Manchester City Academy, which will offer training and recovery facilities aligned with the club’s player development model.

  More than 55% of the masterplan is allocated to landscaped gardens and green spaces.

  Last year, Ohana Development launched the AED4.7bn ($1.3bn) Jacob & Co Beachfront Living by Ohana residential project in the Al-Jurf area of Abu Dhabi.

  The developer said in a statement that the project comprises 457 residential units, including apartments, villas, penthouses and mansions.

  The project is expected to be completed by 2028 and is being developed in partnership with US-based jewellery firm Jacob & Co.

  Ohana Development’s portfolio in Abu Dhabi also includes Ohana by the Sea in Al-Jurf and Elie Saab Waterfront by Ohana on Reem Island.

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  Yasir Iqbal
• 
  Breaking silos on Saudi megaprojects

  25 September 2026

  In conversation with Abdullah Ahmed AlKharan, CEO of Teef Najd

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  From a contractor’s perspective, what does integrated delivery actually look like? And how does this approach transform the way different stakeholders operate within a project?

  At Teef Najd, integrated delivery is realised through the seamless synergy of our core industrial, contracting and mining sectors, alongside our specialised supporting divisions. This ecosystem establishes a comprehensive foundation of capabilities and expertise tailored to meet diverse project demands, driven by a consolidated supply chain.

  Rather than functioning in isolated silos, this approach bridges traditional gaps between suppliers and contractors, shifting the dynamic from transactional relationships to strategic partnerships. By consolidating the execution framework, we eliminate friction on-site, streamline communication and accelerate decision-making, ultimately reshaping how stakeholders collaborate to build highly efficient and fully integrated national projects.

   Where do you see the greatest value in bringing together contractors and specialists with integrated capabilities, rather than relying on a single entity to execute all works independently?

  The ultimate value lies in achieving uncompromised quality benchmarks and strict adherence to project timelines. Given the unprecedented scale and complexity of today’s megaprojects in the kingdom, relying on a single entity to execute the entire scope independently diminishes execution efficiency and heightens operational risk. Conversely, a collaborative framework between a main contractor and specialised partners ensures high-tier project delivery through professional, unified management that optimises workflows and prevents overlapping jurisdictions. This instills absolute client confidence, guaranteeing top-spec quality across every single deliverable under a unified management system.

  Teef Najd actively embodies this model by integrating our major sectors – mining, industry, contracting and trade. This integration serves as a foundational pillar supporting Vision 2030’s local content mandates, while simultaneously providing clients with a powerful commercial advantage that shields projects from global price fluctuations and mitigates supply chain risks through reliable, locally manufactured products.

  What are the core operational elements required for a successful integrated partnership, spanning clear responsibilities and communication through to decision-making, programme management and accountability?

  A successful partnership is built on a robust institutional framework that drives alignment among all stakeholders by defining clear scopes of responsibility and agile decision-making mechanisms. This is coupled with the strategic deployment of local talent and resources to maximise project execution efficiency and value, thereby ensuring uncompromised quality standards and strict adherence to timelines.

  Furthermore, effective partnership thrives on a mutual alignment of interests, absolute transparency in managing risks, and shared accountability for the project’s ultimate success. This collective commitment not only secures the sustainability of the current alliance but also paves the way for future mega-scale collaborations.

  How can close collaboration between delivery partners directly optimise client outcomes in terms of quality, cost, schedule, risk management and execution speed?

  Effective collaboration begins with a well-defined delivery governance structure that links all partners to the overarching project goals and deliverables from the earliest phases, clearly outlining responsibilities and decision-making pathways.

  At Teef Najd, this model translates into seamless coordination between engineering design and material approvals, advanced procurement and manufacturing planning, and proactive risk and interface management. Backed by specialised teams, robust in-house manufacturing capabilities and dedicated local resources, this approach enhances quality control, secures supply chains and accelerates responsiveness to evolving project demands.

  What are the key lessons Teef Najd has learned from working with diverse delivery partners? And what needs to change in procurement and contracting methods to facilitate wider adoption of these models in the kingdom?

  Drawing from our extensive track record dating back to 1977, we have learned that the success and sustainability of partnerships fundamentally rest on operational integration and management flexibility – the vital drivers ensuring contracts are executed seamlessly throughout the project lifecycle.

  As for the necessary shift in procurement systems, scaling the adoption of the Integrated Delivery model strictly requires moving away from the conventional lowest-bidder award philosophy. Instead, the industry must transition toward comprehensive technical and commercial evaluations that prioritise financial solvency, proven operational capacity and local content contributions. This shift is essential to guarantee that megaprojects are delivered with maximum efficiency and optimum economic value.

  Click here to contact Teef Najd

  Published in partnership with

  

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  Don’t miss MEED’s SMP 2026, where Teef Najd joins as Integrated Delivery Partner.
  Secure your place as an attendee or request the sponsorship deck by clicking here, or email us at meedevents@meed.com

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• 
  Bahrain retenders Hawar desalination works

  25 September 2026

  

   

  Bahrain’s Electricity & Water Authority (EWA) has retendered a contract to develop a seawater intake and outfall system for a planned seawater reverse osmosis (SWRO) desalination plant on Hawar Island.

  The scope includes constructing a seawater intake facility with a capacity of 1,515 cubic metres an hour and a seawater outfall structure with a diffuser system.

  The bid deadline is 21 October.

  The original tender received just two bids from Noble Development (UAE) and Al-Hassanain Company (Bahrain). These were opened in December 2025.

  The reissued tender is expected to attract bids from Al-Hassanain Company, Noble Development, UK-based engineering consultancy HR Wallingford, Bahrain Mechanical & Diving Services and Ocean Diving & Marine Services (Bahrain).

  As previously reported, the marine works project is linked to two other contracts: one covering the main Hawar desalination plant and another involving the construction of two ground storage tanks and the installation of water transmission pumps.

  Malaysia-based Sparco Engineering recently won the engineering, procurement and construction contract for the desalination plant project after submitting the lowest bid last year.

  The plant is designed to produce 1 million imperial gallons a day (MIGD) of potable water.

  The Hawar Islands form an archipelago of 16 desert islands and islets located approximately 26 kilometres southeast of Ras Al-Bar in Bahrain. The desalination plant is intended to support water supply requirements on the islands.

  The third package linked with the SWRO project was tendered last November, with Greece-headquartered Ergotem submitting the lowest bid of $1.92m.

  This contract covers the construction of two steel ground storage tanks with a capacity of 1 million gallons each, pumping stations, motors, pipelines and associated facilities.

  As of August, the contract had not yet been awarded.

  It is understood that Sparco Engineering will be required to ensure that the plant’s design and construction align technically and operationally with these two projects so that all three components function together as one integrated system.

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  Mark Dowdall
• 
  Dubai property bubble risk rises as price growth stalls

  25 September 2026

  Register for MEED’s 14-day trial access 

  Dubai’s residential property market remains in elevated bubble-risk territory after a sharp slowdown in price growth, according to UBS.

  The emirate’s housing boom came to an abrupt halt at the onset of the regional conflict, the Swiss bank said in its Global Real Estate Bubble Index 2026 report. Inflation-adjusted house prices have fallen back to mid-2025 levels, after real growth of more than 10% in 2025.

  Dubai scored 1.16 on the index, up on last year, placing it fourth among the 23 cities covered. Only Zurich and Tokyo, at 1.69 and 1.54 respectively, are classed as high risk. Miami, Seoul, Geneva and Lisbon join Dubai in the elevated category, which covers scores between 1.0 and 1.5.

  Real prices in Dubai rose by 0.4% in the year to Q2 2026, while real rents fell by 4%. UBS said bubble risk remained elevated despite some easing since March.

  Ownership costs

  UBS said existing tenants were likely to take advantage of the pause in price growth and, in some cases, price concessions to buy homes. Despite elevated mortgage rates, Dubai remains one of the few markets where ownership is relatively attractive given the high cost of renting, according to the bank.

  A skilled service worker in Dubai needs about five years of average income to buy a 60-square-metre apartment near the city centre, compared with about 15 years in Hong Kong and 11 years in London. It takes 16 years of rent to pay for an equivalent apartment, one of the lowest ratios in the study. UBS attributed the low price-to-rent ratios in Dubai, Sao Paulo and the US cities surveyed to less regulated rental markets and higher interest rates, as well as elevated risk premiums in Dubai and Sao Paulo.

  The bank said uncertainty over whether the inflow of high-income earners would recover was weighing on the premium segment. It added that Dubai’s structural advantages, including its strategic location and its appeal as an international business hub, remained intact, and that an improvement in the geopolitical environment was likely to support a rapid recovery in market sentiment and price expectations.

  Supply is a further source of uncertainty. Some developments have stalled, and others may be delivered later than planned, although UBS said the market remained exposed to heightened volatility because of persistent concerns about structural oversupply.

  Global slowdown

  Across the cities analysed, real residential prices rose by an average of 0.5% in the year, down from 1.4% in mid-2025. Seoul recorded the strongest real growth, at 11%, while Toronto and Vancouver fell by about 10%.

  The report also points to Gulf capital supporting other markets. UBS said interest from Middle Eastern buyers could further lift prices in Geneva, and that investors from the Middle East, the US and Asia had supported London’s prime segment.

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  Colin Foreman