MEED February 2023 Webinar: Saudi Arabia 2023 Outlook and 2022 Review

26 February 2023

The webinar focuses on discussing the economic outlook, investment opportunities, and business strategies in Saudi Arabia for the year 2023.

As a MEED subscriber, you will be invited to exclusive monthly webinars on the trending topics in the region’s top sectors.

Saudi Arabia 2023 Outlook and 2022 Review brings together industry experts, government officials, and business leaders to share their insights and perspectives on the current state and future of the Saudi Arabian economy.

The discussion covers a range of topics, including the impact of the COVID-19 pandemic on the economy, the government’s plans for economic diversification, and investment opportunities in various sectors such as healthcare, infrastructure, and renewable energy.

The webinar provides an interactive platform for participants to engage with the speakers, ask questions, and exchange ideas. It also offers networking opportunities for participants to connect with other business professionals and potential partners in Saudi Arabia.

Related Articles
  • Dubai scales up its metro ambitions

    23 April 2026

     

    Dubai’s rail sector has rarely seen such a concentrated burst of procurement activity as it has in the past year.

    Within the space of a few months, Dubai’s Roads & Transport Authority (RTA) has moved simultaneously on three distinct fronts: tendering design consultancy for the Route 2020 extension that will connect the Expo 2020 metro station to Al-Maktoum International airport; inviting study-and-design bids for a 55-kilometre Airport Express Line linking Dubai International airport to Al-Maktoum International airport; and culminating in Dubai Ruler Sheikh Mohammed Bin Rashid Al-Maktoum’s approval of the AED34bn ($9.2bn) Gold Line, a 42km fully underground route that the emirate is calling the largest transportation project in its history.

    These projects form a key part of the Dubai Rail Network Plan 2032, which outlines the development of six public transportation schemes comprising a mix of metro, passenger and high-speed rail lines.

    The most prominent feature of the plan is the addition of new lines to Dubai Metro’s existing network, representing a systematic effort to support the shift of Dubai’s economic centre of gravity towards Dubai South and the vast development corridors in between.

    The city is also seeking to stay ahead of the curve by investing heavily in infrastructure. Data from regional projects tracker MEED Projects shows that the emirate has awarded over $14bn-worth of transport projects in the past two years alone, with several other multibillion-dollar schemes still moving through the planning stages.

    All of this work is being carried out in line with the Dubai 2040 Urban Master Plan, which forecasts the emirate’s population will reach 5.8 million by 2040 – a clear indication of the scale of daily movement the city must accommodate.

    Project progress

    Dubai Metro Gold Line

    On 21 April, Sheikh Mohammed officially announced the launch of the new AED34bn ($9.2bn) Gold Line project.

    The line will be a fully underground network spanning over 42 kilometres, with 18 stations.

    It will run from Al-Ghubaiba in Bur Dubai to Jumeirah Golf Estates.

    The Gold Line will connect with Dubai Metro’s existing Red and Green lines and integrate with the Etihad Rail passenger network.

    In October last year, MEED exclusively reported that the RTA had selected US-based engineering firm Aecom to provide consultancy services for the project.

    Stage one covers concept design; stage two, preliminary design; stage three, preparation of tender documents; stage four, construction supervision; and stage five, the defects liability period.

    Airport Express Line

    Procurement has started for another metro line extending from Dubai International airport (DXB) in Al-Garhoud to Al-Maktoum International airport (DWC) in Jebel Ali.

    Earlier this month, the RTA invited consultants to bid for a contract to study and design what is referred to as the Airport Express Line.

    The proposed line will stretch about 55km and include five stations that will provide passengers with facilities such as remote airline check-in, baggage drop-off and security screening.

    The new line will run from the Red Line metro station at DXB through Al-Jaddaf, along Al-Khail Road to a new station at Jumeirah Village Circle (JVC), before continuing on to DWC.

    There will be two spur lines. The first will run from the new JVC station to Al-Fardan Exchange metro station at Emirates Golf Club, while the second will branch toward Business Bay, where another station will be built.

    Expo 2020 route extension

    Dubai is also undertaking the Route 2020 extension of its metro system, which will start from the Expo 2020 metro station and connect with Al-Maktoum International airport’s West Terminal.

    Consultants submitted their bids earlier this month for the design contract.

    The extension will run for about 3km and feature two stations.

    The existing Route 2020 metro link is a 15km line that branches off the Red Line at Jebel Ali metro station. The line comprises 11.8km of elevated tracks and 3.2km of tunnels, and has five elevated stations and two underground stations.

    Dubai Metro Blue Line extension

    Construction progress on the Dubai Metro Blue Line extension is expected to reach 30% by the end of 2026, according to official accounts.

    In December 2024, the RTA awarded a AED20.5bn ($5.5bn) main contract for the construction of the project.

    The contract was awarded to a consortium of Turkiye’s Limak Holding, Mapa Group, also of Turkiye, and the Hong Kong office of China Railway Rolling Stock Corporation (CRRC).

    The Blue Line will connect the existing Red and Green lines. It will be 30km long, with 15.5km underground and 14.5km above ground.

    The line will have 14 stations, seven of which will be elevated. There will be five underground stations, including one interchange station, and two elevated transfer stations connected to the existing Centrepoint and Creek stations.

    The project is scheduled for completion in September 2029.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16534887/main.png
    Yasir Iqbal
  • Contractors form teams for Bab Gas Cap main plant project

    23 April 2026

     

    Contractors have formed consortiums to participate in the main tendering exercise for a major project involving the development of infrastructure to process incremental gas output arising from the unlocking of gas caps at the Bab onshore hydrocarbons development in Abu Dhabi.

    As part of its 2030 upstream production increase goals, Abu Dhabi National Oil Company (Adnoc Group) is working to extract gas from four underdeveloped gas cap reservoirs at the Bab onshore field development – Thammama A, Thammama B, Thammama F and Thammama H. While the Thammama A, B and H reservoirs are estimated to collectively produce 1.45 billion cubic feet a day (cf/d) of gas, output from the Thammama F gas cap is expected to be at a rate of 396 million cf/d.

    Existing trains at the Habshan processing complex in Abu Dhabi will be unable to handle the new gas volumes. Therefore, Adnoc Group subsidiary, Adnoc Gas, is required to build new facilities to process an additional volume of up to 1.85 billion cf/d of raw gas when its parent company starts production from the Bab gas caps.

    Adnoc Gas is planning to build a gas processing plant in the Bab area, about 170 kilometres from Abu Dhabi, along with associated pipeline networks and other ancillary units, as part of the broader Bab gas cap development project. It has divided the engineering, procurement and construction (EPC) scope of work on the project into four packages:

    • EPC package 1 – Main Bab gas cap plant
    • EPC package 2 – Early civil works
    • EPC package 3 – Pipelines
    • EPC package 4 – Non-process area works

    Abu Dhabi Securities Exchange-listed Adnoc Gas issued an expression of interest (EoI) document to contractors for the main EPC tendering process for the main Bab gas cap plant on 10 February. The company had set an initial EoI submission deadline of 17 February, which it later extended until 20 February, with contractors submitting responses by that date, MEED previously reported.

    Following the completion of the prequalification phase, contractors that expressed interest formed the following teams to compete in the main contract tendering round, according to sources:

    • Larsen & Toubro Energy Hydrocarbon (India) + Samsung E&A (South Korea)
    • Saipem (Italy) + NMDC Energy (UAE)
    • Technip Energies (France) + JGC Corporation (Japan) + Sinopec (China)
    • Tecnimont (Italy) + China Petroleum Engineering and Construction Corporation (CPECC)

    Adnoc Gas is expected to issue the main EPC tender for the central Bab gas plant in May, sources told MEED.

    The other three packages remain in the main contract tendering stages, the sources said.

    Prior to issuing the EoIs for the Bab gas cap development project packages, Adnoc Gas completed an early engagement process with contractors in September and October last year, as MEED previously reported.

    In December last year, Adnoc Gas awarded the front-end engineering and design (feed) works for the Bab gas cap development project, which will increase its gas processing capacity by about 20%, to Australia-based consultancy Worley. The feed contract has a duration of more than 1.2 million man-hours, making it the largest-ever engineering job awarded by Adnoc Gas.

    Adnoc Gas currently has a capital expenditure (capex) commitment of $20bn for the 2023-29 period, which is on course to increase to about $28bn as the company strives to achieve final investment decisions (FID) on the second and third phases of its rich gas development programme this year.

    The first phase of the RGD project is under construction. Adnoc Gas awarded $5bn-worth of engineering, procurement and construction management (EPCm) contracts in three tranches for phase one of the RGD last June – the company’s largest-ever capital investment.

    The second and third phases involve building a natural gas liquids fractionation train at the Ruwais gas processing facility and a new gas processing train at the Habshan complex, respectively, Peter Van Driel, the company’s chief financial officer, had earlier told journalists on a call.

    MEED, in March, reported that Adnoc Gas had selected main EPC contractors for both the Ruwais NGL Train 5 and the Habshan 7 gas processing train projects, which are estimated to be valued at around $4bn each. Adnoc Gas is yet to officially award the EPC contracts for the two projects.

    Adnoc Gas’ capex commitment could exceed $30bn when the company achieves FID on the Bab gas cap development project, which is currently expected later this year, Van Driel previously said.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16534391/main0115.jpg
    Indrajit Sen
  • Sports Boulevard tenders Wadi Hanifa road works

    23 April 2026

     

    Register for MEED’s 14-day trial access 

    Saudi Arabia’s Sports Boulevard Foundation has issued a tender inviting firms to bid for a contract to build a road and associated infrastructure in the Wadi Hanifa area of Riyadh.

    The bid submission deadline is 27 April.

    The scope includes construction of an 11.4-kilometre road and associated infrastructure, including public realm works, utilities and security systems.

    The scheme is the latest package to progress on Riyadh’s Sports Boulevard project.

    The Sports Boulevard Foundation is also evaluating bids for its Global Sports Tower in the development’s Athletics District.

    The 130-metre-tall Global Sports Tower will have a gross floor area of 84,000 square metres (sq m) and will include more than 30 sports facilities. The tower will feature what is billed as the world’s tallest indoor climbing wall, at 98 metres, and a 250-metre running track.

    Sports Boulevard will run across Riyadh from east to west. Once complete, it is intended to be the world’s longest park, stretching more than 135 kilometres.

    The project is divided into multiple districts, including the Wadi Hanifah, Arts, Urban Wadi, Entertainment, Athletics and Eco districts, as well as Sands Sports Park.

    The large-scale development aims to transform central Riyadh – currently dominated by major highways – into a recreational corridor.

    Sports Boulevard will include 4.4 million sq m of public realm and landmark buildings. Along with the Global Sports Tower, there will be a Centre for Cinematic Arts and a 2,000-seat amphitheatre.

    It will also deliver more than 2.3 million sq m of mixed-use commercial, residential and retail space, alongside sports facilities, around the park, known as the Linear Park.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16534345/main.jpg
    Yasir Iqbal
  • Qiddiya sets new deadline for infrastructure package

    23 April 2026

     

    Saudi gigaproject developer Qiddiya Investment Company (QIC) has set a 13 May deadline for bids for a contract covering new infrastructure works at Qiddiya Entertainment City.

    The scope comprises two infrastructure development packages for District 0 of Qiddiya Entertainment City, including the construction of four event park-and-ride facilities.

    The tender was issued on 11 March, with an initial bid submission deadline of 22 April.

    Lebanese firm Dar Al-Handasah and Saudi-based Sets International are serving as project consultants.

    QIC is accelerating plans to develop additional assets at Qiddiya City. Earlier this month, the company received prequalification statements from firms for the engineering, procurement, construction and finance package for the Qiddiya high-speed rail project.

    MEED has also reported that QIC received bids from contractors on 23 February for a SR980m ($261m) contract covering the construction of staff accommodation at Qiddiya Entertainment City.

    The project will cover an area of more than 105,000 square metres (sq m).

    Also in February, QIC started the main construction works on its performing arts centre at the entertainment hub.

    The Qiddiya City performing arts centre is one of several major projects within the greater Qiddiya development. Other projects include an e-games arena, Prince Mohammed Bin Salman Stadium, a motorsports track, the Dragon Ball and Six Flags theme parks, and Aquarabia.

    QIC officially opened the Six Flags theme park to the public in December last year.

    The park covers 320,000 sq m and features 28 rides and attractions, including 10 thrill rides and 18 aimed at families and young children.

    The Qiddiya project is a key part of Riyadh’s strategy to boost leisure tourism in the kingdom. According to UK analytics firm GlobalData, leisure tourism in Saudi Arabia has experienced significant growth in recent years.

    Saudi Arabia’s tourism sector posted record figures last year, with more than 130 million domestic and international visitors – a 6% increase on 2024.

    https://image.digitalinsightresearch.in/uploads/NewsArticle/16533776/main.jpg
    Yasir Iqbal
  • Detailed design progressing for major Iraqi oil project

    23 April 2026

     

    Detailed design work is progressing on Iraq’s 950-kilometre seawater pipeline network under the Common Seawater Supply Project (CSSP), according to industry sources.

    They added that on-site construction would begin only after the detailed design is complete.

    Iraq’s state-owned Basra Oil Company (BOC) and China Petroleum Pipeline Engineering (CPP) signed a $2.5bn contract for the pipeline package in September last year.

    The project is being supervised by Austria’s ILF Consulting Engineers.

    The pipeline package is one of two main CSSP packages.

    The second focuses on a seawater treatment facility, expected to have a capacity of 5 million barrels a day (b/d), potentially rising to 7-8 million b/d in later phases.

    Processed water will be injected into some of Iraq’s largest oil fields – Rumaila, Zubair, West Qurna 1, West Qurna 2 and Majnoon – and also used in the Maysan and Dhi Qar fields.

    Iraq’s Oil Ministry said the injected water will help maintain reservoir pressure and sustain crude production.

    CPP is a subsidiary of state-owned China National Petroleum Corporation.

    TotalEnergies is responsible for the CSSP as part of the larger $27bn Gas Growth Integrated Project.

    Iraq approved a $2.45bn contract with South Korea’s Hyundai Engineering & Construction (Hyundai E&C) in August last year for the engineering, procurement and construction of the seawater treatment plant.

    Over recent weeks, Iraq’s oil exports have collapsed by about 80% due to fallout from the US and Israel’s war with Iran.


    READ THE APRIL 2026 MEED BUSINESS REVIEW – click here to view PDF

    Economic shock threatens long-term outlook; Riyadh adjusts to fiscal and geopolitical risk; GCC contractor ranking reflects gigaprojects slowdown.

    Distributed to senior decision-makers in the region and around the world, the April 2026 edition of MEED Business Review includes:

    > GCC CONTRACTOR RANKING: Construction guard undergoes a shift
    To see previous issues of MEED Business Review, please click here
    https://image.digitalinsightresearch.in/uploads/NewsArticle/16527404/main.jpg
    Wil Crisp