Read the January 2023 MEED Business Review
29 December 2022
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All eyes are on the Middle East’s property market after a dramatic reversal in fortunes over the past two years.
In mid-November, investors flocked to Dubai’s Coca-Cola Arena for the launch of Burj Binghatti Jacob & Co Residences, the world’s tallest residential building.
It was the clearest sign yet of a dramatic return to form for Dubai’s real estate sector.
Developments in Abu Dhabi continue to sell strongly, and in Bahrain, developers attending Cityscape in November said they were expecting good years ahead.
The biggest market, Saudi Arabia, may have seen its residential market cool in recent months due to higher interest rates, but commercial property continues to perform well and the overall outlook for real estate remains positive.
In the January issue of MEED Business Review, MEED editor Colin Foreman analyses why real estate in the region is here to stay, despite the ups and downs of the property cycle.
This month, we also reveal the region’s top 100 megaprojects – which, combined, account for $1.4tn in project value. Of this, more than $570bn is made up of project components that have moved beyond the study stage and are actively moving through the design, main contract bidding and execution phases.
The Top 100 ranking and analysis on increasing activity on oil and gas schemes and economic diversification initiatives, particularly in Saudi Arabia, can be accessed here.
Our 15-page special report on Oman, meanwhile, finds that budget discipline has allowed Muscat to hugely improve the sultanate’s fiscal standing.
Most significantly over the past 12 months, Oman has garnered the interest of investors for its potential as a hydrogen generation and transmission hub, with planned hydrogen schemes in the sultanate valued at almost $80bn.

Must-read sections in the January 2023 edition of MEED Business Review include:
> AGENDA: Dubai real estate returns
> RIYADH 2KM-TALL TOWER: Saudi tower tops GCC list of megatall structures
> ACQUISITION: Alec acquires Abu Dhabi contractor Target
> BIG INTERVIEW: Awaidha Murshed Ali al-Marar, chairman of the Abu Dhabi Department of Energy
> OPINION: Energy challenges cloud 2023 outlook
> MEED COMMENTS:
> Middle East rail sector has best year since 2013
> Riyadh doubles down on Beijing relationship
> SAUDI BUDGET: Riyadh increases expenditure as projects take centre stage
> TOP 100 PROJECTS: Saudi Arabia ramps up project activity
> INTERVIEW: Harssha Shetty, CEO of Oman steel manufacturer Jindal Shadeed Group
> ENERGY TRANSITION: Hydrogen’s energy transition role is precarious
> TENDER INFLATION: Saudi construction faces rising costs amid optimism
> MEED INDEX: UAE leads the region in MEED’s Digital Transformation Index
> FOOD SECURITY: UAE food suppliers face global issues
> OMAN MARKET FOCUS: Oman restores the faith of investors
> MARKET SNAPSHOT: The region’s growing hydrogen economy
> GULF PROJECTS INDEX: Gulf projects market ends 2022 on positive note
> NOVEMBER 2022 CONTRACTS: Awards fall off sharply in November
> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts
Exclusive from Meed
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Algeria opens bidding for water treatment plant15 April 2026
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WEBINAR: UAE Projects Market 202615 April 2026
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Saudi Landbridge finds its moment in Gulf turmoil15 April 2026
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Indian firm selected for Saudi sewage treatment project15 April 2026
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SAR extends phosphate rail track deadline15 April 2026
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Related Articles
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Algeria opens bidding for water treatment plant15 April 2026

State-owned Cosider Pipelines, part of Algeria’s public infrastructure group Cosider, has issued a tender for the construction of a demineralisation plant in In Salah in Algeria.
The contract covers the design, supply, installation, testing and commissioning of a plant with a treatment capacity of 62,000 cubic metres a day (cm/d).
The tender is open to local and international companies specialising in the design and construction of demineralisation and reverse osmosis desalination plants.
The bid submission deadline is 26 April.
The project will be located at In Salah, a key industrial area in southern Algeria, where treated water supply is important for both municipal and industrial use.
Cosider said that individual bidders must demonstrate that they have completed at least one reverse osmosis demineralisation or desalination plant with a capacity of 20,000 cubic metres a day or more.
They must also show an average annual turnover of at least AD1bn ($7.7m) for their five best years over the past decade.
For consortium bids, all partners must share full responsibility for the contract, while the lead company must meet the technical and financial requirements.
Recent projects
In 2023, MEED reported that Riyadh-based water utility developer Wetico had won two contracts to develop water desalination plants in Algeria.
Societe Algerienne de Realisation de Projects Industriels (Sarpi) awarded the contract for the El-Tarf desalination plant, while Entreprise Nationale de Canalisations (Enac) is the client for the Bejaja facility.
Both plants were commissioned in 2025, each with a production capacity of 300,000 cm/d.
Separately, Wetico was the main contractor on a third plant commissioned last year. The Cap Dijinet 2 seawater desalination plant in Boumerdes province covers 18 hectares and also has a capacity of 300,000 cm/d.
Like many countries, Algeria is facing pressure on resources due to longer and more frequent droughts. Seawater desalination is seen as a key driver of the government’s strategy to guarantee drinking water supply.
According to previous reports, the government is planning to build up to six additional plants by 2030.
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WEBINAR: UAE Projects Market 202615 April 2026
Webinar: UAE Projects Market 2026
Tuesday, 28 April 2026 | 11:00 GST | Register now
Agenda:
- Overview of the UAE projects market landscape
- 2025 projects market performance
- Value of work awarded 2026 YTD
- Impact of the Iran conflict on the projects market and real estate, assessing supply chain disruptions, material cost inflation and war risk premiums
- Key drivers, challenges and opportunities
- Size of future pipeline by sector and status
- Ranking of the top contractors and clients
- Summary of key current and future projects
- Short and long-term market outlook
- Audience Q&A
Hosted by: Colin Foreman, editor of MEED
Colin Foreman is editor and a specialist construction journalist for news and analysis on MEED.com and the MEED Business Review magazine. He has been reporting on the region since 2003, specialising in the construction sector and its impact on the broader economy. He has reported exclusively on a wide range of projects across the region including Dubai Metro, the Burj Khalifa, Jeddah Airport, Doha Metro, Hamad International airport and Yas Island. Before joining MEED, Colin reported on the construction sector in Hong Kong.https://image.digitalinsightresearch.in/uploads/NewsArticle/16401868/main.gif -
Saudi Landbridge finds its moment in Gulf turmoil15 April 2026
Commentary
Yasir Iqbal
Construction writerThe strategic case for the Saudi Landbridge has never been more urgent. SAR’s appointment of Spain’s Typsa as lead design consultant, reported by MEED this week, is more than a procurement milestone. After two decades of delays, it reflects how the long-deferred project has become a strategic necessity.
The conflict reshaping the Middle East has made that necessity more immediate. Red Sea transits are costly and unpredictable. The Strait of Hormuz carries risk no insurer can fully price. Saudi Arabia’s most valuable exports, including crude oil, refined products, petrochemicals and industrial goods, move almost entirely by sea through routes that are no longer reliably secure.
The kingdom sits between two coastlines with no rail link connecting them. That gap is now an economic exposure.
The $27bn project addresses it directly. More than 1,500 kilometres of track, anchored by a 900km railway between Riyadh and Jeddah, will provide direct freight access from King Abdullah Port on the Red Sea, with upgrades to the Riyadh-Dammam line and a new connection to Yanbu.
Together, they create what Saudi Arabia has never had: a continuous land corridor linking Gulf industrial ports to Red Sea export terminals, entirely within its own borders.
The commercial implications are substantial. Aramco’s downstream output, Sabic’s chemicals, and the manufacturing clusters of Jubail and Yanbu gain flexible access to both coasts.
Exporters targeting Europe and the Americas load at Jeddah; those serving Asia pivot east to Dammam by rail, on demand, without Hormuz risk or Red Sea freight surcharges.
No neighbouring economy has that optionality. The network also underpins a broader economic ambition. Connecting Jeddah, Riyadh, Dammam, Jubail, Yanbu, King Abdullah port and King Khalid airport by rail positions the kingdom as a genuine logistics corridor between East and West.
With design now under way and construction tenders expected imminently, the Landbridge is closer to reality than at any point in its troubled history. Regional disruption did not create this project. But it has made the argument for it unanswerable.
MEED’s April 2026 report on Saudi Arabia includes:
> COMMENT: Risk accelerates Saudi spending shift
> GVT &: ECONOMY: Riyadh navigates a changed landscape
> BANKING: Testing times for Saudi banks
> UPSTREAM: Offshore oil and gas projects to dominate Aramco capex in 2026
> DOWNSTREAM: Saudi downstream projects market enters lean period
> POWER: Wind power gathers pace in Saudi Arabia
> WATER: Sharakat plan signals next phase of Saudi water expansion
> CONSTRUCTION: Saudi construction enters a period of strategic readjustment
> TRANSPORT: Rail expansion powers Saudi Arabia’s infrastructure pushTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/16401567/main.png -
Indian firm selected for Saudi sewage treatment project15 April 2026

Saudi Arabia’s National Water Company is understood to have recently selected Indian contractor VA Tech Wabag as its preferred bidder for a contract to expand a sewage treatment plant (STP) in Al-Majmaah in Riyadh Province.
The engineering, procurement and construction (EPC) package for the Al-Majmaah STP has an estimated value of $65m.
The scope includes the construction of sewage treatment plant units, a pumping station and an effluent surplus line. It also covers the installation of a Scada system, supervisory control systems and associated facilities.
As MEED understands, six bids were submitted last year, including from local firms Alkhorayef Water & Power Technologies, Al-Rafia Contracting, Civil Works Company, Saudi Sdn Water & Energy and Washnah Trading & Contracting.
The project forms part of Saudi Arabia’s broader push to expand treatment and reuse infrastructure under Vision 2030, particularly across the Riyadh region.
MEED recently revealed that NWC had awarded an EPC contract for the latest phase of its long-term operations and maintenance sewage treatment programme.
The contract to build and upgrade sewage treatment plants with a combined capacity of about 440,000 cubic metres a day was awarded to a consortium led by China’s Jiangsu United Water Technology.
Elsewhere, a joint venture of Kuwait-based Heavy Engineering Industries & Shipbuilding and Wabag is awaiting the formal contract award for phase two of Kuwait’s Doha seawater desalination plant project.
The firms submitted the lowest bid of $373.2m for the project last year.
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SAR extends phosphate rail track deadline15 April 2026

Saudi Arabian Railways (SAR) has extended the bid submission deadline to 26 April for a multibillion-riyal tender to double the tracks on the existing phosphate transport railway network connecting the Waad Al-Shamal mines to Ras Al-Khair in the kingdom’s Eastern Province.
The new tender – covering the second section of the track-doubling works and spanning more than 150 kilometres (km) – was issued on 9 February. The previous bid submission deadline was 15 April.
The new tender follows SAR receiving bids from contractors on 1 February for the project’s first phase, which spans about 100km from the AZ1/Nariyah Yard to Ras Al-Khair.
The scope includes track doubling, alignment modifications, new utility bridges, culvert widening and hydrological structures, as well as the conversion of the AZ1 siding into a mainline track. It also includes support for signalling and telecommunications systems.
The tender notice was issued in late November, with a bid submission deadline of 20 January 2026.
Switzerland-based engineering firm ARX is the project consultant.
MEED understands that these two packages are the first of four that SAR is expected to tender for the phosphate railway line. Other packages expected to be tendered shortly include the depot and systems packages.
In 2023, MEED reported that SAR was planning two projects to increase its freight capacity, including an estimated SR4.2bn ($1.1bn) project to install a second track along the North Train Freight Line and construct three new freight yards.
Formerly known as the North-South Railway, the North Train is a 1,550km-long freight line running from the phosphate and bauxite mines in the far north of the kingdom to the Al-Baithah junction. There, it diverges into a line southward to Riyadh and a second line running east to downstream fertiliser production and alumina refining facilities at Ras Al-Khair on the Gulf coast.
Adding a second track and the freight yards will significantly increase the network’s cargo-carrying capacity and facilitate increased industrial production. Project implementation is expected to take four years.
State-owned SAR is also considering increasing the localisation of railway materials and equipment, including the construction of a cement sleeper manufacturing facility.
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