Ten projects that will shape Dubai’s future
5 September 2023

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Dubai is back with major projects after several years of subdued activity following Expo 2020 and the Covid-19 pandemic.
Over the past year, plans have emerged for 10 projects across various sectors that will help shape the emirate’s development over the coming decade.
Many of these projects have been planned for years. After stalling during the low-oil-price era of 2015-20, positive economic tailwinds mean many of these schemes are now being revisited by their owners and relaunched.
| 1. Tower at Creek Harbour |
The most recent relaunch announcement came at the end of August, when Emaar Properties founder Mohammad Alabbar revealed plans to redesign and relaunch the Tower at Dubai Creek Harbour.
The design works are expected to be completed by the first quarter of 2024, and construction slated to begin in the second half of 2024.
Details of the redesigned tower have not been launched, but sources close to the project say it will be tall and feature high-end residential units. This reflects Dubai’s buoyant property market and will stand in sharp contrast to the original design that involved building a 1,000-metre-tall observation tower.
Construction on that project stalled in 2019 after work on the foundations was completed. Two bidders were competing for the estimated $5.5bn contract to build the tower. They were Beijing-based China State Construction Engineering Corporation and a joint venture of the local/Belgian Belhasa Six Construct and Tishman, which US-based Aecom owns.
Belhasa Six Construct completed the raft foundations for the tower in May 2018. France’s Soletanche Bachy finished the piling.
Spanish/Swiss architect and engineer Santiago Calatrava Valls was the main consultant on the project, with the local office of Aurecon, supported by the UK’s RMJM and Dubai-based DEC, acting as local engineer and architect of record. The project manager for the tower was US-based Parsons.
| 2. Dubai Metro Blue Line |
The Dubai Creek Harbour development in Ras al-Khor will connect to Dubai’s Metro network via the planned Blue Line, which will serve as an extension to the existing Red and Green lines.
Dubai’s Roads & Transport Authority (RTA) is preparing to issue tender documents for the Blue Line.
The Green Line extension will commence from its current terminus at Creek station in the Jadaf area. It will cross over to the Dubai Creek Harbour development and continue through Ras al-Khor, International City, Dubai Silicon Oasis and Academic City, before concluding near the Desert Rose project. The line will have 11 stations.
The Red Line extension will connect its existing terminus in Rashidiya to Mirdif City Centre and continue through Mirdif and Warqaa, before joining the Green Line extension in International City.
The project was put on hold during the Covid-19 pandemic and reactivated in early 2022, when UK-based Atkins and Grimshaw, US-based Parsons and France’s Egis restarted design work.
The last metro project to be completed in Dubai was Route 2020, which connected the Red Line to the Dubai Expo site. The AED10.6bn ($2.9bn) contract to design and build the line was awarded to a consortium of Alstom, Spain’s Acciona and Turkiye’s Gulermak.
| 3. Deep Tunnels Portfolio |
Another major infrastructure scheme is the Deep Tunnels Portfolio, which involves developing deep-gravity sewage tunnels and treatment plants across the emirate.
In August, Dubai Municipality began the process of appointing a project management consultant to oversee the scheme, which will be developed as a public-private partnership (PPP).
Two sets of deep tunnels will be constructed, terminating at two terminal pump stations at sewerage treatment plants (STPs) in Warsan and Jebel Ali. A conventional sewage and drainage collection system and STPs will be built in Hatta.
The scheme also includes recycled water distribution systems connected to the STPs.
Dubai’s Executive Council approved the project in June and said it would require an investment of about AED80bn ($22bn). It added that the project has been designed to serve the needs of the Dubai population for the next 100 years in alignment with the Dubai Economic Agenda D33 and Dubai Urban Plan 2040.
| 4. DWTC/Candy tower |
Dubai World Trade Centre (DWTC) and UK-based Candy Capital have formed a joint venture to develop three towers in Dubai’s One Central commercial district.
The mixed-use towers will have two branded residences, two hotels and office space. The construction work involves building three towers. The two taller towers will be connected by a sky bridge containing one of the hotels.
Dubai-based Killa Design has been appointed as the architect for the project.
Candy Capital is a privately held family office established by British entrepreneur and businessman Nick Candy. His best-known property development is One Hyde Park in London, which he developed with his brother Christian. It comprises 86 apartments and three retail units and is considered one of the wealthiest residences in the world.
| 5. Al-Maktoum International airport |
Dubai plans to restart the emirate’s largest construction project, the AED120bn ($33bn) expansion of Al-Maktoum International airport, also known as Dubai World Central (DWC).
The expansion was officially launched in 2014. It involves building the biggest airport in the world by 2050, with the capacity to handle 255 million passengers a year. An initial phase, which was due to be completed in 2030, aims to take the airport’s capacity to 130 million passengers a year.
Altogether, the development will cover an area of 56 square kilometres.
Progress on the project slipped as the region grappled with the impact of lower oil prices and Dubai focused on developing the Expo 2020 site. Tendering for work on the project then stalled with the onset of the Covid-19 pandemic in early 2020.
Firms were competing for the estimated $2.7bn substructure contract for Concourse 1 and the West Terminal building – the largest contract tendered for the project.
The contract covers the delivery of more than 1.7 million square metres of connected basement footprint, housing the people-mover tunnels, baggage handling systems, ground services road network and other back-of-house technical and support facilities.
| 6. Palm Jebel Ali |
Dubai released details of the new masterplan for Palm Jebel Ali, an artificial island located south of Jebel Ali Freezone, in June.
Double the size of Palm Jumeirah, Palm Jebel Ali will have 110 kilometres of shoreline and extensive green spaces. The development will feature over 80 hotels and resorts and a diverse range of entertainment and leisure facilities.
It includes seven connected islands, catering to approximately 35,000 families. The development also emphasises sustainability, with 30 per cent of public facilities powered by renewable energy.
MEED reported in January that local developer Nakheel had approached contractors to complete the reclamation works for Palm Jebel Ali.
As with Palm Jumeirah, it is estimated that it could take around 20 years for Palm Jebel Ali to reach its full development potential. Nakheel has previously secured AED17bn ($4.6bn) in funding to expedite the development of various projects, including the Dubai Islands and other waterfront schemes.
The upcoming dredging contract for Palm Jebel Ali is anticipated to involve 5-6 million cubic metres of material, contributing to the completion of the man-made offshore island.
While reclamation work for Palm Jebel Ali is mostly finished, the project was put on hold in 2009. Nakheel had made some progress with infrastructure development, including the construction of bridges on the island by Samsung C+T.
| 7. The Oasis by Emaar |
Another major masterplanned development was launched by Emaar Properties in June. The $20bn Oasis by Emaar covers a total land area of more than 9.4 million square metres, close to Dubai Investments Park. The project involves building over 7,000 residential units along with water canals, lakes and parks. It will also include the development of a 150,000 sq m retail area.
| 8. The Island |
Another project that has been restarted in recent years is The Island, which Wasl is developing.
Located off the coast of Umm Suqeim, near the Jumeirah public beach, it is expected to feature 1,400 hotel rooms and apartments, in addition to retail, food and beverage and entertainment options. The 10.5-hectare island will include properties featuring the MGM, Bellagio and Aria hotel brands.
The developer is close to appointing a contractor to build the development after bids were submitted earlier this year.
Tender documents for the contract were previously issued in 2020, when the project was being delivered with a consultancy team led by South Africa’s Mirage.
Germany’s Kling Consult is now the project manager.
| 9. Al-Habtoor Tower |
The $1bn Al-Habtoor Tower project is located at Al-Habtoor City, next to Dubai Water Canal, on a 7,500 sq m plot. The tower, which the developer describes as one of the largest buildings in the world, will have three basement levels, a seven-storey podium and 73 floors of residences. The built-up area will be 350,000 sq m.
Its construction is technically challenging because the tower will be built above an existing parking basement that serves the already completed buildings at Al-Habtoor City.
Al-Habtoor had the option of demolishing the basement. Instead, it decided to employ a top-down approach to the construction that involves piling down through the basement, while at the same time starting construction above ground.
The top-down approach is expected to reduce the construction time by about one year, meaning the tower will be completed in 1,000 days or roughly three years.
China Railway 18th Bureau Group was appointed as the main contractor in May.
| 10. Dubai Pearl |
After two aborted attempts, development is expected to start again at the Dubai Pearl site, located north of Dubai Media City close to the Palm Jumeirah.
The structures erected for the previous project have been demolished this year. Dubai Holding, which now owns the land, has held a design competition and is in the final stages of selecting the winning architect.
Local project management firm North 25 is overseeing the design competition.
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The conflict with Iran is threatening to recalibrate the global energy system. The effective closure of the Strait of Hormuz has caused an energy security crisis reminiscent of the shocks of the 1970s – both in scale and in its potential long-term implications.
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The structural changes taking root in 2026, like those in 1974, will outlive the conflict itself. Even a swift cessation of hostilities may not allow markets to return to their pre-conflict norms.
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Brookfield to double down on Gulf investment5 May 2026
Brookfield CEO Bruce Flatt has said the asset and alternative investment management company intends to increase its investments in the Gulf, despite the ongoing conflict in the region.
When asked whether the war is changing the way he thinks about the Gulf region during an interview with CNBC at the Milken Institute Global Conference on 4 May, he said: “No, short answer no – in fact, [we’re] doubling down, we are doing more.
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Flatt suggested the current period of geopolitical stress could accelerate long-term economic strengthening across the Gulf, arguing that governments and businesses will respond by investing in self-sufficiency and strategic infrastructure. “They will eventually build better countries because of this,” he said.
Flatt added: “They’re going to build resiliency in all their systems. They’re going to build their own artificial intelligence (AI). They’re going to build their own pipelines to the coast. They’re going to do things they didn’t do before. They have to do it. They probably should have, but they’re going to now, and they’re going to be more resilient.”
UAE meetings
Flatt has also travelled to the region since the conflict began on 28 February, meeting senior UAE officials to discuss investment opportunities and deepen cooperation. In Abu Dhabi on 9 April, he met Sheikh Khaled Bin Mohamed Bin Zayed Al-Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council. The meeting explored ways to strengthen cooperation in investment and asset management between UAE-based institutions and Brookfield, in line with global economic trends and evolving market demands.
Two days later in Dubai, Flatt met Sheikh Maktoum Bin Mohammed Bin Rashid Al-Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance and Chairman of the Dubai International Financial Centre (DIFC). During the meeting, both sides explored opportunities to expand cooperation, highlighting the UAE and Dubai’s value proposition for global investors, including an integrated financial system, a flexible and advanced regulatory environment and world-class digital infrastructure. Discussions also covered Dubai’s role as a bridge between East and West, and the emirate’s emphasis on long-term partnerships and a transparent, business-friendly environment.
Qatar partnership
Brookfield’s regional activities are not limited to the UAE. In late 2025, the firm and Qai – Qatar’s AI company and a subsidiary of Qatar Investment Authority – announced a strategic partnership to establish a $20bn joint venture focused on AI infrastructure in Qatar and select international markets. The venture is expected to support Qatar’s ambition to become a hub for AI services and infrastructure in the Middle East. It is slated to be backed through Brookfield’s Artificial Intelligence Infrastructure Fund, part of a broader AI infrastructure programme targeting up to $100bn in global investment.
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Insurers will only cover a fraction of war damage to oil and gas facilities5 May 2026

Insurers are expected to cover only a fraction of the damage to oil and gas facilities in the Middle East caused by the regional war, according to industry sources.
Standard industrial property and business interruption policies typically exclude damage and disruption caused by acts of war. Companies therefore need specialist war-risk insurance or political violence and terrorism (PVT) insurance to be eligible for payouts.
While most state-owned national oil companies (NOCs) are likely to have arranged this type of cover for major facilities, it is less common among smaller private or publicly traded companies.
As a result, many assets – such as smaller fertiliser plants and chemical facilities – are expected to be uninsured for war-related damage.
“War insurance was never a widely purchased product in the region,” said one source. “It’s one of these things that people never really believe is going to happen.
“In a lot of companies, spending hundreds of thousands of dollars every year for this kind of product was seen as something they couldn’t really justify.”
Even companies that purchased war-risk or PVT insurance before the US and Israel attacked Iran on 28 February are unlikely to be covered for the full extent of war damage.
War-risk insurance for large assets such as oil refineries or LNG terminals typically carries limits of $200m to $500m.
In many cases, repairs to the region’s large and complex oil and gas facilities are likely to cost billions of dollars.
One source said: “If you had, for example, an oil refinery that’s worth $8bn, you couldn’t really buy a war insurance policy to cover the price of a complete rebuild.
“There just isn’t enough insurance capacity in the market to buy that level of cover.
“Very often NOCs were buying cover at the highest level they could find, but this was limited by what markets were prepared to insure.”
Payout timing
Full insurance settlements for war damage are expected to take significant time – potentially 18 months to two years for some policyholders.
Payments typically begin with an initial payout of around 20%-30% of the total claim. This is followed by a second payment mid-project – usually once engineering is complete – and then a final payment.
In most cases, projects to rebuild and repair damaged oil and gas facilities are not expected to be delayed while owners wait for insurance proceeds.
One source said: “A lot of the owners of these damaged facilities don’t see the current situation as the right time to start rebuilding, but that isn’t because they are waiting for insurance money.
“The risk of new attacks and more damage is still high, and they are going to want to wait for signs of more stability before they start rebuilding.”
Experts believe that once the security environment improves, facility owners will begin tendering repair and reconstruction contracts even if insurers have not settled claims.
“A lot of the companies that operate oil, gas and chemical facilities in the region have access to funds that will allow them to rebuild without being reliant on insurers,” said one source.
“Even if they have a policy that they expect to pay out, it is likely that they will go ahead with the project before receiving full payment if they think it is the right time to rebuild.”
Once the security environment improves, the cost of rebuilding fully destroyed units is expected to be higher than when they were originally constructed, due to multiple rebuild projects progressing in parallel across the region.
This is likely to drive a spike in demand for skilled labour and materials, pushing up costs.
Market impact
Insurers providing this type of cover in the region have generally experienced several years of low payout levels, so they are expected to meet claims with limited financial strain.
However, the volume of claims stemming from the US and Israel’s war with Iran is expected to harden the war-risk and PVT insurance market, increasing premiums for owners of oil and gas facilities for some time.
Ultimately, the limited scope of coverage means the financial burden of the war will fall more heavily on asset owners than on insurers.
Even where cover is in place, policy limits mean insurers will only partially offset the cost of rebuilding large facilities, leaving companies and governments to bridge funding gaps.
The experience is likely to prompt a reassessment of risk across the region’s energy sector, with lenders and investors placing greater emphasis on potential political violence-related damage when evaluating projects.
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Oman seeks adviser for hydrogen-based IPP5 May 2026
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The bid submission deadline is 21 June.
To date, hydrogen deployment has focused mainly on production and export projects, while power generation activity remains largely limited to pilot schemes rather than utility-scale, fully hydrogen-fired plants.
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Nama PWP also recently issued a separate consultancy tender seeking services to support ESG policy development.
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Distributed to senior decision-makers in the region and around the world, the May 2026 edition of MEED Business Review includes:
> REGIONAL LNG: War undermines business case for Middle East LNG> CAPITAL MARKETS: Damage avoidance frames debt issuance> MARKET FOCUS: Conflict tests UAE diversificationTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/16683857/main.jpg -
NCP seeks firms for healthcare PPP project5 May 2026
Saudi Arabia’s Ministry of Health, the Ministry of Defence and the National Centre for Privatisation & PPP (NCP) have issued an expression of interest and request for qualification (RFQ) notice for the Chronic Kidney Disease Care and National Dialysis Services project.
The notice was issued on 4 May, with a submission deadline of 15 June.
The project will be delivered as a public-private partnership (PPP) under a design, repurpose, finance and maintain (DRFM) model, with a six-year contract term.
NCP said the initiative supports Saudi Vision 2030 by increasing private sector participation in the healthcare sector.
The project is structured into four packages, each covering a minimum number of patients across multiple regions to ensure wide geographic reach and improved access.
Selected operators will be required to provide the necessary facilities, equipment and information technology systems, as well as supply qualified personnel. They will also manage clinical services – including in-centre haemodialysis, home haemodialysis, peritoneal dialysis, vascular access and outpatient services – alongside non-clinical operations.
In January, Saudi Arabia launched a National Privatisation Strategy, which aims to mobilise $64bn in private sector capital by 2030.
The strategy builds on the privatisation programme first introduced in 2018. It will focus on unlocking state-owned assets for private investment and privatising selected government services.
In a statement, NCP said the new strategy comprises 147 opportunities drawn from a broader pipeline of more than 500 projects across 18 sectors.
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