Contractors tender for Qiddiya performance arts centre
29 January 2025
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Contractors are engaged with tendering for the contract to build the performance arts centre at Qiddiya entertainment city.
MEED understands that the firms submitted the first stage bids late last year. The stage two bids are due in May this year.
The gigaproject developer Qiddiya Investment Company (QIC) issued the tender in September last year.
The centre will have over 3,000 seats in three theatres. It will also include a cantilevered amphitheatre overlooking Qiddiya City’s lower plateau, with a 500-seat centre suspended from above.
In June last year, MEED exclusively reported that QIC had appointed Dubai-based Brewer Smith Brewer Gulf and US-headquartered Tom Wiscombe Architecture as the lead designers for the project.
The unveiling of the Qiddiya City Performing Arts Centre follows the announcement of several other projects within the development, including an e-games arena, Prince Mohammed Bin Salman Stadium, a motorsports track, the Dragon Ball and Six Flags theme parks, and Aquarabia.
QIC has also achieved key construction milestones on several schemes that are in the execution phase at the gigaproject.
In an update on its website, QIC said that the overall construction works on the Six Flags Qiddiya City project have reached 89% completion, while the Aquarabia theme park is at 84% and the golf courses are at 77%.
The construction of the development’s first bridge, which spans about 1 kilometre, is also 99% complete.
The Qiddiya entertainment city project is one of Saudi Arabia’s five official gigaprojects, covering 360 square kilometres.
The project is a key part of Riyadh’s strategy to boost leisure tourism in the kingdom. According to GlobalData, leisure tourism in Saudi Arabia has experienced significant growth in recent years. Domestic leisure tourism trips have increased to 33.76 million in 2023 from 16.74 million in 2018. International tourist arrivals for recreational purposes have increased by 600% from 2018 to 2023.
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> DOWNSTREAM: Regional downstream sector prepares for consolidation
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> PROJECTS: Gulf projects index continues ascension
> CONTRACTS: Mena projects market set to break records in 2024
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Chinese builders go global13 March 2025
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Siemens Energy wins $1.6bn Saudi deal
13 March 2025
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Chinese engineering, procurement and construction (EPC) contractor Harbin Electric International has awarded Germany’s Siemens Energy a contract to supply combined-cycle gas turbine (CCGT) units for the Rumah 2 and Nairiyah 2 independent power projects (IPPs) in Saudi Arabia.
The Rumah 2 and Nairiyah 2 CCGT plants will each have a capacity of roughly 1,800MW, requiring an estimated investment of $2bn each.
The value of the contract Siemens Energy won is $1.6bn.
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Photo credit: Siemens Energy
READ THE MARCH MEED BUSINESS REVIEW – clck here to view PDFChinese contractors win record market share; Cairo grapples with political and fiscal challenges; Stronger upstream project spending beckons in 2025
Distributed to senior decision-makers in the region and around the world, the March 2025 edition of MEED Business Review includes:
> AGENDA 1: Chinese firms dominate region’s projects market> AGENDA 2: China construction at pivotal juncture> UPSTREAM 1: Offshore oil and gas sees steady capex> UPSTREAM 2: Saudi Arabia to retain upstream dominance> DIRIYAH: Diriyah CEO sets the record straight> SAUDI POWER: Saudi power projects hit record high> AUTOMOTIVE: Saudi Arabia gears up to lead Gulf’s automotive sector> EGYPT: Egypt battles structural issues> GULF PROJECTS INDEX: Gulf hits six-month growth streak> CONTRACT AWARDS: High-value deals signed in power and industrial sectors> ECONOMIC DATA: Data drives regional projectsTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/13483115/main.jpg -
Chinese builders go global
13 March 2025
Commentary
Colin Foreman
EditorRead the March MEED Business Review
It is difficult to fathom the scale of growth experienced by China’s construction sector over the past 20 years. Since 2004, it has grown by over 800%, with a compound annual growth rate of 11% to reach an estimated value of $4.5tn.
That success has created contractors that are now the largest construction companies on the planet. According to GlobalData, seven Chinese companies are among the top 10 largest construction companies in the world, with China State Construction Engineering Corporation topping the list with revenues of $320bn.
In the Middle East and North Africa, Chinese contractors dominated in 2024 by securing $90bn of the $347bn of contracts awarded, according to data from MEED Projects.
The region’s active projects market has created unprecedented demand for contractors. Most notably, project clients in Saudi Arabia have been actively courting international construction companies to come and work in the kingdom.
Many international contractors exited the region over the past decade, which has meant Chinese contractors have had little competition as they stepped in to fill the void and deliver crucial projects.
On top of exploiting the shifting competitive landscape, Chinese successes have been able to meet the budgetary requirements of many projects, offering cost-effective solutions and even providing financing.
At the same time, the maturing Chinese economy has driven contractors to seek opportunities abroad. With a slowing domestic real estate market, they are turning to international markets for growth. The Middle East presents an attractive option due to its wide range of projects, backed by financially secure clients and governments.
The scale of the contractors and the large number of players yet to meaningfully venture overseas means they possess the ability to grow even further in the Middle East and North Africa as the region continues to press ahead with large-scale projects that require vast resources.
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READ THE MARCH MEED BUSINESS REVIEW – clck here to view PDFChinese contractors win record market share; Cairo grapples with political and fiscal challenges; Stronger upstream project spending beckons in 2025
Distributed to senior decision-makers in the region and around the world, the March 2025 edition of MEED Business Review includes:
> AGENDA 1: Chinese firms dominate region’s projects market> AGENDA 2: China construction at pivotal juncture> UPSTREAM 1: Offshore oil and gas sees steady capex> UPSTREAM 2: Saudi Arabia to retain upstream dominance> DIRIYAH: Diriyah CEO sets the record straight> SAUDI POWER: Saudi power projects hit record high> AUTOMOTIVE: Saudi Arabia gears up to lead Gulf’s automotive sector> EGYPT: Egypt battles structural issues> GULF PROJECTS INDEX: Gulf hits six-month growth streak> CONTRACT AWARDS: High-value deals signed in power and industrial sectors> ECONOMIC DATA: Data drives regional projectsTo see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/13483117/main.gif