MEED’s 2023 top 10 GCC contractors
28 March 2023
> Improved outlook for the Gulf region’s construction market is not reflected in the 2023 contractor ranking
> Nesma & Partners retains its position as the most active GCC contractor, but its total value of work this year is down 22 per cent on 2022
> Part two of this report, Top 10 GCC contractors by country, can be accessed here

The GCC’s construction market is back. After enduring half a decade of low oil prices and capital spending cuts, the region is back with a new generation of ambitious projects that are attracting global attention.
Dubai may have led previous boom periods with its palm-shaped islands and record-breaking towers, but this time it is Saudi Arabia that is taking the lead with 170-kilometre-long mirrored structures, 400-metre-cubed buildings and, if the plans are approved, a 2-kilometre-tall tower that will be more than twice the height of the current world’s tallest building, Dubai’s Burj Khalifa.
As the hype builds, the excitement is yet to be reflected in MEED’s contractor ranking for 2023.
Using data from regional projects tracker MEED Projects, the region’s most active contractor, based on contracts under execution, is Nesma & Partners. While the Saudi firm has retained its position as the most active contractor, its total value of work in 2023 is $5.3bn, down 22 per cent on the $6.8bn of work under execution that it topped the ranking with in 2022.
Further falls
Last year’s second-ranked contractor has fallen even further. Saudi Binladin Group was working on $6.5bn of projects at the execution stage in 2022. In 2023, this has dropped to $4bn, and as the firm’s work on the expansion of the Grand Mosque in Mecca is completed, it may not figure in the ranking in the future.
Last year’s third-ranked contractor has also slid down the rankings. In 2022, India’s Shapoorji Pallonji was working on $5.6bn of projects at the execution stage. This year it is working on $2.9bn.
Altogether five of the top 10 contractors in the GCC this year have less work than they did last year. If an average of the top 10 is taken, then the number in 2023 has fallen 18 per cent to $3.6bn from $4.4bn last year.
The five firms that have grown their totals are newcomers to the top 10 this year, the highest-ranked of which is Turkiye’s Limak.
The contractor’s main project in the GCC is the new terminal building at Kuwait International airport, and a Turkish firm’s presence at number two may be a sign of things to come. After settling political differences with Saudi Arabia and the UAE in 2022, Turkish companies are expected to play a key role in delivering Saudi Arabia’s growing roster of major projects.
Riyadh, like Neom, will be an important market for contractors over the coming decade
The other newcomers to the top 10 are three Saudi firms, Alfanar, Almabani and Saudi Baytur; and China Harbour Engineering Construction.
Alfanar’s position in the ranking is mostly due to the contract it won to deliver and operate five clusters of community villages on a public-private partnership basis at Neom. That project shows the scale of the Neom schemes that are moving into construction and signals that firms working on the development will perform well in future rankings.
Almabani has been able to secure major contracts on projects in its domestic market. The most recent is the estimated $1.9bn contract that it won this year to deliver the Zone 6 infrastructure works for the Sports Boulevard project that is being developed by the Royal Commission of Riyadh City.
Riyadh, like Neom, will be an important market for contractors over the coming decade. The city has plans to double in size and major projects that have been launched so far include King Salman airport, New Murraba, Dirriyah Gate, Prince Mohammed bin Salman Nonprofit City, Sports Boulevard, King Salman Park and Qiddiya Entertainment City.
China Harbour has built its orderbook with project wins in Saudi Arabia and the UAE and is now the second Chinese firm in the top 10.
The final newcomer is Saudi Arabian Baytur. While it has historical Turkish links, it has been operating as a wholly-Saudi-owned company since 2016.
A significant trend in the GCC ranking is the meagre showing from western contractors
Ranking departures
The five companies that have left the top 10 this year are Qatar’s Urbacon Trading & Contracting Company, Saudi Arabia’s ABV Rock, Kuwait’s Sayed Hamid Behbehani & Sons, Beijing-based China Railway Construction Company and Kuwait’s Mohammed Abdulmohsin al-Kharafi & Sons.
Urbacon’s departure may be short-lived. The firm has experienced a sharp decline in the total value of its projects at the execution stage this year following the completion of projects in the domestic Qatari market ahead of last year’s World Cup.
As construction activity remains slow in Qatar the firm has begun expanding overseas and this year has secured significant orders from Saudi Entertainment Ventures (Seven) for the construction of entertainment centres in Saudi Arabia.
China Railway’s departure may also be temporary. It has completed work on the UAE’s federal Etihad Rail network, which resulted in it dropping out of the top 10 this year. It may return if it is able to secure work on the raft of regional rail projects that are moving towards the construction phase.
One other significant trend in the GCC ranking is the meagre showing from western contractors. The only western firm in the top 10 this year is Italy’s Webuild, which has $4.5bn of work at the execution stage.
With most western contractors continuing to exercise caution when approached to bid on projects in the GCC, it is unlikely that this trend will change in the near future.
Looking ahead to next year’s ranking, Nesma will be a strong contender for the top spot again. In February, the Public Investment Fund (PIF) confirmed that it has invested $1.3bn in four local construction companies to support the handling of projects in the kingdom.
Nesma was one of the firms that the PIF acquired shares in, along with AlBawani Holding Company, Almabani General Contractors Company and El-Seif Engineering Contracting Company.
The PIF said the investment will allow the firms to scale up their capacity, adopt advanced technologies and improve local supply chains.
At a time when many contractors in the region are still struggling with financial issues, these companies will now be well placed to play a leading role in the rapidly growing Saudi market. As major contract awards are secured over the next year, these firms will likely also be leading the ranking in 2024.
Top 10 GCC contractors by country
MEED's April 2023 special report on Saudi Arabia includes:
> ECONOMY: Riyadh steps up the Vision 2030 tempo
> CONSTRUCTION: Saudi construction project ramp-up accelerates
> UPSTREAM: Aramco slated to escalate upstream spending
> DOWNSTREAM: Petchems ambitions define Saudi downstream
> POWER: Saudi Arabia reinvigorates power sector
> WATER: Saudi water begins next growth phase
> BANKING: Saudi banks bid to keep ahead of the pack
Exclusive from Meed
-
Eni completes $1bn Libya gas project20 October 2026
-
Diriyah Company tenders East Wadi bridge20 October 2026
-
Kuwait selects firms for power works at housing projects20 October 2026
-
Taqa moves forward with Mirfa-Liwa scheme20 October 2026
-
All of this is only 1% of what MEED.com has to offer
Subscribe now and unlock all the 153,671 articles on MEED.com
- All the latest news, data, and market intelligence across MENA at your fingerprints
- First-hand updates and inside information on projects, clients and competitors that matter to you
- 20 years' archive of information, data, and news for you to access at your convenience
- Strategize to succeed and minimise risks with timely analysis of current and future market trends
Related Articles
-
Eni completes $1bn Libya gas project20 October 2026
Register for MEED’s 14-day trial access
Libya’s Mellitah Oil & Gas Company, a joint venture of Libya’s National Oil Corporation (NOC) and Italian oil and gas company Eni, has achieved mechanical completion on its Bouri gas utilisation project (GUP).
In a statement, Eni said that start-up procedures are currently under way, enabling the recovery of associated gas produced from the Bouri field, which is located in Libya’s western offshore area.
The main contract for the project, worth $1bn, was awarded to Italy’s Saipem in August 2023.
The project involved the construction and installation of the new Bouri gas recovery module and related tie-in infrastructure that enables the recovery and treatment of gas that was previously flared.
In its statement, Eni said that the project “represents one of the most significant emissions reduction initiatives in Libya’s energy sector”.
It also said that it would contribute to improving the environmental performance of the country’s production system by reducing greenhouse gas emissions by approximately 1.5 million tonnes of carbon dioxide a year.
The recovered gas will be supplied to the domestic market, adding about 700 million cubic metres a year and helping meet demand from the power generation sector.
The project will also support additional gas volumes available for export to Europe through the GreenStream pipeline.
Eni said: “The start-up of the Bouri GUP confirms the joint commitment of Eni and NOC to the development of Libya’s energy sector through initiatives that combine production growth, operational efficiency and environmental stewardship.
“The project is part of a broader strategy aimed at enhancing the value of the country’s gas resources while reducing the emissions intensity of upstream activities.”
Other key projects currently under way in Libya include the A&E Structures Project, which is focused on bringing new offshore gas resources onstream for both the domestic market and exports, as well as initiatives aimed at upgrading and optimising gas production and transportation infrastructures.
Eni has been present in Libya since 1959, and the company’s equity production in the country in 2025 amounted to approximately 162,000 barrels of oil equivalent a day.
The Bouri offshore field is part of Libya’s Block NC-41, located 120 kilometres north of the Libyan coast in the Mediterranean Sea.
It was first discovered in 1976 at a depth of 8,700 feet. It is estimated to contain 4.5 billion barrels in proven recoverable crude oil reserves and 3.5 trillion cubic feet of associated natural gas, with an annual production potential of 6 billion cubic metres.
The first development phase, costing nearly $2bn, was completed in 1990.
This was immediately followed by a second development phase, which entailed drilling 55 new wells and constructing three additional platforms. Production began from the oil platforms DP4 and DP3 in August 1998.
https://image.digitalinsightresearch.in/uploads/NewsArticle/20770288/main3529.jpg -
Diriyah Company tenders East Wadi bridge20 October 2026

Saudi Arabia’s Diriyah Company has invited contractors to bid on the construction of the DG II East Wadi Bridge, a key crossing within Riyadh’s Diriyah master development.
The bridge will provide an arterial road connection linking the Diriyah Gate Phase 2 (DG II) Infrastructure Package 1 and Package 2 zones.
The project scope involves the construction of a 100-metre clear-span, 44-metre-wide, single-span post-tensioned concrete bridge structure with integrated abutments and four architectural towers.
The contract also encompasses approach slabs, access roads, pavements, associated earthworks, architectural finishes and cladding, mechanical, electrical and plumbing installations, utility interfaces, bridge parapets, vehicle restraint systems, waterproofing, testing and commissioning, and associated temporary works.
The client will supply the detailed engineering design, and the selected contractor will develop the construction methodology.
Diriyah Company issued the prequalification tender on 14 September, with submissions due by 10 December.
https://image.digitalinsightresearch.in/uploads/NewsArticle/20769223/main.png -
Kuwait selects firms for power works at housing projects20 October 2026

Kuwait’s Public Authority for Housing Welfare (PAHW) has appointed contractors for works covering the supply and installation of 132kV underground cables at South Sabah Al-Ahmad Residential City.
The contracts relate to engineering, procurement and construction (EPC) packages for works for 28 main 132/11kV substations across four phases.
According to sources, Egypt’s Elsewedy Cables has won contracts for phases 1 and 3, while China’s TBEA Shandong Luneng Taishan Cable Company has won contracts for phases 2 and 4 of the development.
In April, MEED reported that PAHW had received at least five bids for each of the first two packages, with Elsewedy and TBEA offering $44m and $40.5m, respectively.
The first contract (phase 1) covers seven substations in zones N9, N7 and N5. The second contract (phase 2) covers seven substations in zones N10 and N5.
PAHW issued two further 132kV underground cable tenders for the South Sabah Al-Ahmad residential development at the end of May, as reported by MEED.
This included a contract (phase 3) covering the supply, extension and maintenance of 132kV underground cables linked to seven substations serving the N5, N6, N8 and N10 districts. Egytech Cables, a subsidiary of Elsewedy, submitted an offer of $39.95m, the lowest of four bids.
The other contract (phase 4) covers the supply, extension and maintenance of 132kV underground cables feeding eight main transformer substations serving the N1, N6 and N11 districts.
MEED reported in July that TBEA had submitted an offer of $44.06m for the contract.
South Saad Al-Abdullah
Separately, PAHW has appointed contractors for power transmission works at the South Saad Al-Abdullah residential development.
The local firm Sayed Hamid Behbehani & Sons has won a contract to supply, install and maintain 10 main 132/11kV transformer substations for the development’s third phase.
Another local firm, Al-Ahleia Switchgear, has won a contract to supply, install and maintain 10 main 132/11kV transformer substations for the project’s fourth phase.
As reported in August, the contractors submitted bids of $104.2m and $103.3m, respectively.
https://image.digitalinsightresearch.in/uploads/NewsArticle/20761431/main.jpg -
Taqa moves forward with Mirfa-Liwa scheme20 October 2026

Taqa Transmission and Taqa Distribution are advancing a major water transmission and distribution scheme serving Mirfa, Madinat Zayed and Liwa in Abu Dhabi, sources told MEED.
The project, originally estimated to cost $775m, has been in procurement for several years. According to sources, a request for proposals has been issued, with bids due on 5 January 2027.
The initial submission deadline was 11 November, before it was extended.
The project was previously tendered in December 2024, with contractors submitting bids for transmission and distribution packages in January 2025. As of August, the bids were still under evaluation. It is unclear whether the latest tender represents a revised procurement process for the same scheme.
The project comprises a water transmission system from Mirfa, alongside distribution networks serving farms and settlements in the western region.
According to details seen by MEED, the latest scope includes a pumping station at Mirfa with a capacity of 128 million imperial gallons a day, about 125 kilometres of transmission pipelines to Muzairah, with branches to Madinat Zayed and Liwa Summit, and storage tanks at the three locations.
The distribution network is divided into four geographic clusters covering Liwa East, Liwa West, Madinat Zayed and Seih Al-Kheir. The works include associated pipelines, pumping stations and storage facilities.
The earlier procurement was structured as an engineering, procurement and construction scheme, divided between transmission and distribution works.
As MEED understands, the latest tender is being pursued under a design, build and operate model, which extends the contractor’s responsibilities to operating the infrastructure after construction.
https://image.digitalinsightresearch.in/uploads/NewsArticle/20758109/main2934.jpg -
Contractors prepare prices for Adnoc Onshore field facilities project20 October 2026

Contractors are preparing commercial bids for Adnoc Onshore’s project to build on-plot and off-plot facilities at the Rumaitha and Shanayel fields in Abu Dhabi’s North East Bab oil field cluster.
The project will enhance and sustain crude output at Rumaitha and Shanayel at 45,000 barrels a day (b/d), supporting Adnoc’s Accelerated Integrated Programme 5 (AiP5) drive to lift capacity to 5 million b/d by 2027.
Adnoc Onshore issued the main tender for engineering, procurement and construction (EPC) works on 19 June. Contractors submitted technical bids by 5 August, sources told MEED.
The on-plot works include adding a crude processing train, produced water treatment and reinjection systems, surface water pumps, and multi-stage gas compression and dehydration units. Works also include utilities, safety and control systems, modifications to existing Phase 1 units and 220kV power infrastructure.
The off-plot scope includes installing and tying in new gas-lifted producer and water-injection wells, as well as building and expanding wellhead clusters. Contractors will also lay crude-gathering, water-injection and gas-export pipelines connecting to the Adnoc Gas network and extend 33kV overhead power lines across the fields.
The tender follows Adnoc Onshore’s shift in strategy for the wider North East Bab development – comprising the Al-Nouf, Rumaitha and Shanayel fields – after scrapping an earlier engineering, procurement and construction management (EPCm) approach. MEED reported in December that the operator had cancelled an off-plot EPCm contract awarded to China Petroleum Engineering & Construction Corporation (CPECC) in October 2024. Adnoc later cancelled a separate on-plot EPCm tender that it received bids for in the second quarter of 2025.
In addition to the North East cluster, Adnoc Onshore continues to make progress on EPC works for another similar project to build off-plot facilities at the South East cluster of oil fields in Abu Dhabi, which is also integral to Adnoc Group’s AiP5 campaign.
The South East cluster comprises the Asab, Mender, Qusahwira, Sahil and Shah fields and accounts for approximately a third of Adnoc Onshore’s oil production capacity.
MEED previously reported that Adnoc Onshore awarded CPECC the EPC works for the South East off-plot facilities project, with the contract value estimated at around $1.2bn.
CPECC is also performing EPC works on the South East on-plot facilities project in a consortium with Greece-headquartered Archirodon. Adnoc Onshore awarded an estimated $1.5bn contract for that project to the consortium in December 2024, with EPC works scheduled for completion in 2027.
ALSO READ: Adnoc Onshore seeks bids for Bu Hasa field EOR project
https://image.digitalinsightresearch.in/uploads/NewsArticle/20757699/main.jpeg
