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
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INDUSTRY REPORT: |
> 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
Exclusive from Meed
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Iraq sets up commission for $5bn pipeline project30 April 2026
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Construction begins on Dubai Healthcare City projects30 April 2026
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Bahrain extends bid deadline for 1.2GW Sitra IWPP30 April 2026
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Bidders get more time for Jebel Ali sewage EPC contract29 April 2026
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UAE’s departure from Opec marks a tectonic shift29 April 2026
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Related Articles
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Iraq sets up commission for $5bn pipeline project30 April 2026
Iraq is setting up a high-level commission to oversee the development of the planned $5bn Basra-Haditha crude oil pipeline project.
The decision was made at a meeting held on 26 April, attended by Prime Minister Mohammed Shia Al-Sudani and the Minister of Petroleum Hayyan Abdul Ghani Al-Sawad, as well as other officials and consultants.
The commission will be chaired by the undersecretary of the Oil Ministry and include advisers to the prime minister, along with director-generals from the Oil Ministry and the Industry & Minerals Ministry.
Al-Sudani said the pipeline project will increase flexibility in transporting crude oil to the Turkish port of Ceyhan, as well as the Syrian port of Baniyas and Jordan’s port of Aqaba.
The pipeline is also expected to strengthen supply to refineries in central and northern Iraq and support higher domestic refining output.
The meeting also approved allocating $1.5bn to the project this year, with funding provided through the Iraq-China oil-for-infrastructure mechanism, according to a statement issued by the Petroleum Ministry.
Earlier this month, Iraq’s Council of Ministers approved amendments allowing the Oil Ministry to directly invite specialised companies to bid for the 685-kilometre pipeline.
The pipeline is expected to have a capacity of up to 2.25 million barrels a day.
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Construction begins on Dubai Healthcare City projects30 April 2026
Dubai Healthcare City Authority (DHCA) has begun construction on Pixel DHCC and Ibn Sina+, two flagship developments in Dubai Healthcare City.
Local contractor International Foundation Group has been appointed to carry out the enabling works.
The two projects form part of Phase 1 of DHCA’s AED1.3bn ($354m) development programme and are scheduled for completion in November 2027.
Pixel DHCC, designed by Hong Kong-based P&T Architects and Engineers, is planned as Dubai Healthcare City’s first LEED Platinum-certified office building. The nine-storey commercial development will cover 13,000 sq m.
Ibn Sina+, designed by Dubai’s Design and Architecture Bureau, will be a five-storey medical complex spanning 5,800 sq m.
— Dubai Media Office (@DXBMediaOffice) April 27, 2026
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Bahrain extends bid deadline for 1.2GW Sitra IWPP30 April 2026

Bahrain’s Electricity & Water Authority (EWA) has extended the developer bidding deadline for the Sitra independent water and power plant (IWPP).
The new deadline is 17 May.
The Sitra IWPP is a combined-cycle gas turbine plant expected to have a generation capacity of about 1,200MW of electricity.
The project’s seawater reverse osmosis desalination facility will have a production capacity of 30 million imperial gallons a day (MIGD).
It is the second deadline extension on the main works package since the tender was released in August 2025.
Lebanon-headquartered Khatib & Alami was recently awarded a consulting contract for the project, worth $1.91m. This was despite the consultancy submitting only the third-lowest bid behind Spain’s Ayesa ($1.25m) and WSP Middle East Architectural & Engineering ($1.27m).
EWA’s transaction advisory team for the project comprises KPMG Fakhro as the financial consultant and Trowers & Hamlins as the legal consultant.
MEED previously reported that seven international companies and consortiums had prequalified to bid. These are:
- Abu Dhabi National Energy Company (Taqa, UAE)
- Acwa Power (Saudi Arabia)
- China Energy Engineering Corporation / China Datang (Overseas Hong Kong, China)
- Gulf Investment Corporation (Kuwait)
- Jera (Japan)
- Korea Electric Power Corporation (Kepco, South Korea)
- Sumitomo Corporation (Japan)
EWA first received statements of qualifications from nine interested firms in December 2024.
The build-own-operate (BOO) project is being procured under a public-private partnership framework for 20-25 years.
It is Bahrain’s fourth IWPP, replacing the previously planned Al-Dur 3. The Sitra IWPP is expected to be fully operational by the second quarter of 2029.
The project is in line with EWA’s plan to replace old plants with new, more efficient ones that reduce natural gas consumption.
Procurement for the Sitra IWPP is advancing in parallel to other EWA initiatives, including the planned 60MIGD Al-Hidd independent water plant (IWP), for which two bids were submitted earlier this year.
The contract to develop and operate the state’s first IWP remains under bid evaluation, a source said.
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Bidders get more time for Jebel Ali sewage EPC contract29 April 2026

Dubai Municipality has extended the deadline for contractors to submit bids for a contract covering the expansion of the Jebel Ali sewage treatment plant (STP) phases one and two.
Contractors now have until June to submit offers, a source told MEED. Bidding had been expected to close on 30 April.
The upgraded facility will be capable of treating an additional sewage flow of 100,000 cubic metres a day (cm/d), with the expansion estimated to cost $300m.
The scope includes the design, construction and commissioning of infrastructure and systems required to support the increased capacity.
Located on a 670-hectare site in Jebel Ali, the original wastewater facility has a treatment capacity of about 675,000 cm/d following the completion of phase two in 2019, combining approximately 300,000 cm/d from phase one and 375,000 cm/d from phase two.
The main element of the expansion involves modifications to the secondary treatment process at Jebel Ali STP phase two.
UK-headquartered KPMG and UAE-based Tribe Infrastructure are serving as financial advisers on the project.
Future expansion
It is understood that the project is part of long-term plans to treat about 1.05 million cm/d once all future phases are completed.
According to sources, this includes a Jebel Ali-based build-operate-transfer (BOT) project to be developed under a public-private partnership (PPP) model.
It is understood that the prequalification process for this will begin in the coming months.
In February, MEED exclusively revealed that the municipality is preparing to tender the main construction package for the Warsan STP by the end of the year.
As MEED understands, the Warsan STP had previously been planned as a PPP project.
The main package will now be procured as an engineering, procurement and construction contract, a source said.
The project involves the construction of a sewage treatment plant with a capacity of about 175,000 cm/d, including treatment units, sludge handling systems and associated infrastructure.
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UAE’s departure from Opec marks a tectonic shift29 April 2026
Commentary
Indrajit Sen
Oil & gas editorRegister for MEED’s 14-day trial access
The UAE’s decision to leave Opec and the Opec+ grouping marks a significant turning point in global oil markets and highlights shifting geopolitical dynamics and evolving supply expectations.
The UAE announced it will leave the producer alliance effective 1 May, ending nearly six decades of membership. The move reflects a broader strategic shift, as the country seeks greater flexibility over its production policy amid rising capacity and changing market conditions.
For oil markets, this is about more than one country wanting to pump more oil. Abu Dhabi National Oil Company (Adnoc) has spent billions of dollars over the years to raise crude production capacity to 5 million barrels a day.
Opec+ quotas had increasingly looked as though they were stifling Abu Dhabi’s growing desire to maximise revenues by tapping into its expanded spare capacity. Leaving the Opec+ coalition gives Abu Dhabi more room to monetise those investments.
The timing also matters. It comes against a backdrop of regional security concerns, tensions around Iran and the Strait of Hormuz, and a sense that consumers are once again being squeezed by high energy costs and depleted strategic reserves.
The immediate dip in the price of global benchmark Brent crude following the announcement of the UAE’s decision on 28 April showed the market’s first instinct: more UAE barrels could mean more supply and lower prices. However, the price rebound on 29 April, with Brent trading around $111 a barrel, also tells the other half of the story: extra capacity does not instantly become risk-free supply when regional bottlenecks and security threats remain front and centre.
For Opec+, this is a blow to unity and to Saudi Arabia’s ability to marshal producer discipline. It does not mean that a price war will start tomorrow, but it raises the risk of other member states choosing to abandon the alliance’s cooperation mechanism and pursue a higher market share. In trading terms, this adds a new volatility premium: more potential supply, less cartel discipline and a Gulf energy landscape that looks significantly less predictable.
The announcement comes at a time of heightened uncertainty in global energy markets, with geopolitical tensions, supply chain constraints and demand recovery trends all contributing to price volatility. The UAE’s exit is expected to reshape market expectations around supply flexibility and producer coordination.
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