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Read the April 2024 MEED Business Review

2 April 2024

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The Middle East and North Africa (Mena) region is facing a massive infrastructure gap that will require an estimated $2tn-$2.5tn in investment by 2050.

In the latest issue of MEED Business Review, we discover how investment, technology and governance must all come together if governments are to successfully address this shortfall.

We also look at the important role that sustainable construction practices will play as the region strives to tackle the infrastructure deficit, potentially cutting emissions from planned projects in the Gulf by as much as 60%. 

Meanwhile, this month's exclusive 18-page market report highlights Saudi Arabia, which is maintaining a laser focus on its Vision 2030 economic diversification strategy as it gears up for the delivery of its gigaprojects. Regional tensions such as the war in Gaza and the escalating conflict in the Red Sea are not distracting Riyadh from its upstream and downstream oil and gas projects, power and water sector spending and transport infrastructure development.

MEED's latest issue is also packed with insight and analysis. The team examines Egypt's plans for the $54bn of
financial assistance that Cairo has recently secured; considers the impact that Iran's $20bn project to boost production from the offshore South Pars gas field will have on the country’s energy security; and reveals the details of the new Vision 2030 strategy announced for the UAE's northern emirate of Ajman, which will guide the development of its projects for the rest of
this decade.

In this month's industry report on tourism, we see that tourist arrivals are on the rise in the GCC, with Dubai attracting 17.15 million international overnight visitors in 2023. A strong post-Covid recovery is under way in the travel sector across the region, and Saudi Arabia's efforts to boost its appeal as a tourism destination are reaping rewards: the kingdom welcomed more than 100 million visitors last year, achieving its 2030 goal seven years early. To support and build on this success, there is a pipeline of $54bn-worth of new hotel and resort projects planned for the Mena region and due for delivery by 2030.

The April issue also includes an interview with Ibrahim Waili of the Oman National Spatial Strategy, in which he discusses the sultanate's plans to build a year-round global mountain destination on Jebel Al Akhdar in the Hajar Mountains. We also talk to John van der Velden of Linde Engineering about the regional oil and gas sector’s increasing reliance on new technologies.

We hope our valued subscribers enjoy the April 2024 issue of MEED Business Review. 

 

Must-read sections in the April 2024 issue of MEED Business Review include:

> AGENDA: Bridging the infrastructure capacity gap; Cutting Gulf construction emissions

> CURRENT AFFAIRS: ​Cairo secures a cumulative $54bn in financing; The stakes are high for Iran’s planned gas projects 

INDUSTRY REPORT:
Regional travel and tourism trends 
> GCC becomes a top tourist destination

> Region heads for hotel boom

> INTERVIEWS: Oman plans year-round global mountain destination; Process technology adoption is poised for growth

> AJMAN 2030: Ajman launches 2030 vision

> INSIGHT: Pressure builds for region's green hydrogen projects; Red Sea crisis raises Saudi construction costs

> LEADERSHIP: Region must rethink talent acquisition

> SAUDI ARABIA MARKET REPORT:

> Riyadh maintains Vision 2030 focus
> Saudi Arabia seeks diversification amid regional tensions
> Saudi lenders gear up for corporate growth
> Aramco spending drawdown to jolt oil projects
> Master Gas System spending stimulates Saudi downstream sector
> Riyadh to sustain power spending
> Growth inevitable for the Saudi water sector
> Saudi gigaprojects propel construction sector
> Saudi Arabia’s transport sector offers prospects

> MEED COMMENTS: 
> Dubai reshuffles real estate when market is buoyant
> Red Sea crisis makes case for Saudi Landbridge
> Oman gives renewables a serious shot
> Saudi Arabia pivots to ESG-friendly tech

> GULF PROJECTS INDEX: UAE and Qatar drive projects growth

> FEBRUARY 2024 CONTRACTS: Region sees drop in project awards in February

> MARKET SNAPSHOT: Top airport projects

> OPINION: New shock treatment for Egypt’s economy

> 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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    12 October 2026

    Yemen’s Houthis have placed Saudi Arabia’s civil aviation infrastructure at the centre of their campaign against the kingdom. Two strikes on King Khalid International airport in Riyadh over the weekend killed 13 people and injured 320.

    The deadlier attack hit a passenger terminal on the afternoon of 10 October. The General Authority of Civil Aviation (Gaca) said it killed 12 people, including four Saudi citizens, and injured 309. Airport operations were suspended pending a damage assessment.

    A second strike hit Terminal 4 on the afternoon of 11 October, sparking a fire that killed a Pakistani resident and injured 11 others, according to Gaca. The Saudi-led coalition reported intercepting a cruise missile near the airport that afternoon. Gaca also reported an attack on King Fahd International airport in Dammam that evening, following a coalition report of a projectile falling near the facility the previous night.

    The weekend strikes followed attacks on Abha International airport on 6 October and on King Khalid International airport on 7 and 8 October, the last of which included a strike on a Saudia aircraft. Gaca figures put the toll from the week’s attacks on Saudi airports at 19 dead and more than 350 injured.

    The Houthis said they would continue operations inside the kingdom and that all Saudi airports were potential targets, with the exception of those serving the holy cities. The group says it is acting in response to Riyadh’s support for Yemeni government forces and a Saudi air strike on Sanaa airport. It has also claimed attacks on Saudi oil facilities, which Saudi authorities have not confirmed.

    Aviation exposure

    The attacks strike a sector central to the kingdom’s diversification plans. King Khalid International airport’s existing terminals are to be absorbed into King Salman International airport (KSIA), a 57-square-kilometre development with six parallel runways targeting a capacity of 120 million passengers by 2030 and 185 million by 2050.

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    Government-owned Saudi Royal Aviation set 8 October as the bid deadline for an estimated SR3bn ($800m) contract to build an aviation complex within the KSIA masterplan, the same day the Houthis struck King Khalid International airport and a Saudia aircraft.

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    Egypt and Saudi Arabia have signed an agreement to strengthen cooperation in the oil, natural gas and petrochemicals sectors, according to a statement from Egypt’s Ministry of Petroleum & Mineral Resources.

    The memorandum of understanding (MoU) was signed in Riyadh by Karim Badawi, Egypt’s minister of petroleum and mineral resources, and Abdulaziz Bin Salman, Saudi Arabia’s minister of energy.

    Under the agreement, both sides will enhance cooperation in trading, transporting, storing and distributing crude oil, petroleum products and natural gas.

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    In its statement, Egypt’s Ministry of Petroleum & Mineral Resources said: “These efforts will contribute to improving energy market efficiency, enhancing the resilience and reliability of supply chains, and strengthening energy security.”

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    Abu Dhabi’s Department of Municipalities and Transport (DMT) has announced plans to upgrade roads in Mussafah, improving links between the industrial area, Mohamed Bin Zayed City and Zayed City.

    The scheme covers about 13 kilometres of roads on the E30 and 8th Street. It aims to reduce congestion, improve road safety and cut journey times.

    The works include a new three-lane highway in each direction along 8th Street, with parallel three-lane service roads on both sides providing access to local businesses and facilities.

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