Read the July 2025 MEED Business Review

3 July 2025

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The UAE’s investments in Turkiye, along with the contracts won by Turkish firms in the UAE, highlight the mutual opportunities available to both countries.

Turkiye is already the UAE’s fourth-largest non-oil trading partner, rising from seventh place in 2021. Last year, non-oil trade between the UAE and Turkiye grew by 11.5%, reaching $40.5bn.

With this momentum set to continue, MEED's latest issue takes an in-depth look at the growing trade relationship between the two countries

In our 10-page opening Agenda section, MEED editor Colin Foreman speaks exclusively to the president of the investment and finance office of the Presidency of the Republic of Turkiye, Burak Daglioglu, about bilateral investment; and talks to Kalyon Holding CEO Mustafa Kocar about the construction firm’s new focus on the Middle East. 

There are also interviews with DenizBank CEO Recep Bastug, on the strengthening financial links, and with the vice-president of sales at Turkish Airlines, Erol Senol, on the airline’s plans for further growth. 

This month’s Levant market focus covers Jordan, Lebanon and Syria and finds all three countries working to recover from recent events beyond their control.

MEED's latest issue also includes a comprehensive GCC real estate report, covering all six markets in detail. While growth is continuing, the sector is showing signs of facing a more nuanced reality due to economic slowdown, regional tensions, oversupply risks and delivery constraints. Read more here.

We hope our valued subscribers enjoy the July 2025 issue of MEED Business Review

 

Must-read sections in the July 2025 issue of MEED Business Review include:

AGENDA: 
UAE-Turkiye trade gains momentum

> Building on UAE-Turkiye trade
> Turkiye's Kalyon goes global
> Strengthening UAE-Turkiye financial links
> Turkish Airlines plans further growth

> CURRENT AFFAIRS:
> Middle East tensions could reduce gas investments

INDUSTRY REPORT:
GCC real estate 
GCC real estate faces a more nuanced reality

> PROJECTS: GCC projects market collapses

> INTERVIEW: Hassan Allam eyes role in Saudi Arabia’s transformation  

> INTERVIEW: Aseer region seeks new investments for Saudi Arabia

> LEADERSHIP: Nuclear power makes a global comeback

> LEVANT MARKET REPORT: 
> COMMENT: Levant states wrestle regional pressures
> ECONOMY: Jordan economy nears inflection point
> GAS: Jordan pushes ahead with gas plans 

> POWER & WATER: Record-breaking year for Jordan’s water sector
> CONSTRUCTION: PPP schemes to drive Jordan construction
> DATABANK: Jordan’s economy holds pace, for now

> ECONOMY: Lebanon’s outlook remains fraught
> RECONSTRUCTION: Who will fund Syria’s $1tn rebuild?

MEED COMMENTS: 
> Dubai's tall towers reach new heights

> Contractors return to Palm Jebel Ali
> Nuclear U-turn is an opportunity
> Adnoc pursues global gas ambition

> GULF PROJECTS INDEX: Gulf projects index continues climb

> MAY 2025 CONTRACTS: Mena contract award activity remains subdued

> ECONOMIC DATA: Data drives regional projects

> OPINIONA farcical tragedy that no one can end

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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MEED Editorial
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    Jeddah Airports Company (Jedco) has outlined plans for the next phase of expansion at King Abdulaziz International airport (KAIA) in Jeddah.

    The programme comprises six upcoming contractor packages spanning airside works, terminal upgrades and utilities as Jedco advances its long-term expansion plans.

    The opportunities include airfield rehabilitation; a five-year construction framework covering multiple workstreams and facility types; a Terminal 3A (T3A) package; Terminal 1 (T1) optimisation; a fuel farm; and Concourse C works.

    The packages cover terminal buildings and ancillary facilities, runways, taxiways and aprons, hangars, fuel systems, airside facilities, supporting infrastructure and utility networks.

    Tendering and award activity will be staggered over the next two years. Airfield rehabilitation is targeted for Q3 2026. The construction framework is scheduled for Q4 2026 and will run for five years.

    The T3A package is planned for Q1 2027 and will be delivered under an early contractor involvement contract. Local contractors are encouraged to bid as part of a joint venture with an experienced international partner.

    T1 optimisation is planned for Q4 2027, the fuel farm for Q2 2027, and Concourse C – currently the latest of the six milestones – for Q2 2028.

    The new packages add detail to Jedco’s wider expansion plans disclosed in 2023, when it was reported that the company would invest SR115bn ($31bn) to increase KAIA’s capacity to 114 million passengers a year, with an overall completion target of 2031.

    Jedco has recently awarded several significant contracts linked to the airport’s upgrade programme.

    In November 2024, a joint venture of local Algihaz Contracting and Turkey’s TAV was awarded a contract to rehabilitate the South Terminal to serve Umrah and Hajj pilgrims, with Singapore’s Surbana Jurong acting as consultant.

    Earlier that year, Jedco also awarded France’s Alstom a contract to increase the capacity of the Innovia automated people mover at Terminal 1, including new cars and upgrades to signalling, communications and controls.

    Surbana Jurong is expected to play a leading role in future KAIA expansion plans and is currently providing technical advisory and project management consultancy for more than 100 capital projects for Jedco, valued at over SR6bn ($1.6bn).

    These upgrades are expected to boost KAIA’s annual capacity in line with Saudi Arabia’s Vision 2030 and National Aviation Strategy, enhancing the experience for domestic travellers and millions of Hajj and Umrah pilgrims.

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  • Contractor wins $105m Medina university hospital deal

    22 September 2026

     

    Riyadh-based construction firm Al-Mansouria General Contracting Company has been awarded a SR396m ($105.6m) contract to complete the remaining construction works on the Taiba University Hospital project in Medina.

    The contract scope includes structural completion, remaining civil works, mechanical, electrical and plumbing installations, specialised clinical fit-outs and medical gas infrastructure to bring the long-stalled facility into operation.

    Located on King Khalid Road along Medina’s Third Ring Road, the teaching hospital will have a capacity of 563 beds.

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    Groundbreaking for the eight-storey complex took place in July 2013. The project covers a gross floor area of more than 200,000 square metres.

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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:

    To see previous issues of MEED Business Review, please click here
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    Yasir Iqbal
  • Oman tenders Thumrait Industrial City infrastructure

    22 September 2026

     

    Oman’s Public Establishment for Industrial Estates (Madayn) has tendered an estimated RO15m ($39m) contract to develop infrastructure for Thumrait Industrial City.

    The tender was issued on 14 September, with bids due by 12 November.

    The scope covers site-wide utilities and services, including an internal road network, stormwater channels and culverts. It also includes installing sewerage and water networks, along with landscaping works.

    In addition, Madayn intends to build plug-and-play industrial units and a facilities building.

    The first phase of the development will cover about 120,000 square metres (sq m).

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    In March, Madayn said it is preparing to invest more than RO245m ($637m) to upgrade and expand infrastructure across its industrial cities between 2026 and 2030, as part of efforts to attract new investment and advance economic diversification.

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  • Kuwait halves drilling contractor pool

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    State-owned upstream operator Kuwait Oil Company (KOC) has reduced the number of approved contractors for onshore drilling and shallow-well maintenance from 51 to 24.

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  • Abu Dhabi expects 45% emissions cut as electricity demand rises

    21 September 2026

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    Abu Dhabi-based Emirates Water & Electricity Company (Ewec) expects carbon emissions from power and water production to fall by more than 45% by 2035 as the UAE expands renewable energy and reverse osmosis (RO) desalination.

    The state offtaker's latest long-term system planning forecasts emissions will decline from about 42 million tonnes in 2019 to approximately 23 million tonnes in 2035.

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    The offtaker also expects RO desalination to account for more than 95% of total water production by 2035, with the procurement programme supporting the Abu Dhabi Department of Energy's Clean Energy Strategic Target 2035 for electricity production and the UAE Net Zero by 2050 Strategy.


    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:

    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/19849749/main.jpg
    Mark Dowdall