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• 
  Redefining the region’s arbitration landscape

  27 March 2026

  

   

  In the midst of increasing international investments and commercial transactions in the Middle East, arbitration remains a key component for the resolution of complex commercial disputes. Its effectiveness, however, depends not only on arbitral tribunals, but also on how national courts define their roles in oversight and enforcement.

  Recent trends in the Middle East have shown a more disciplined judicial approach with a clearer delineation of roles between courts and arbitral tribunals.

  Enforcement: a narrower approach

  Enforcement of foreign awards has been a key area of development.

  In the UAE, the Committee for the Unification of Federal and Local Judicial Principles ruled in Petition No. 1 of 2025 that an award shall be valid and enforceable provided the arbitrators sign only the final page. Referring to earlier Dubai Court of Cassation decisions 1, the Committee noted that procedural rules should not be used to defeat substantive rights and that legal procedures are meant to serve justice, not to create technical barriers. 

  The Dubai Court of Cassation adopted the same approach, confirming that arbitrators are not required to sign every page of the award and that issues already examined during arbitration, including signatory capacity, cannot be reopened at the enforcement stage 2. 

  A similar emphasis on clarity can be seen in Saudi Arabia, where the Arbitration Law is currently under review, with the aim of modernising the legislative framework and enhancing predictability. The draft reform includes clearer provisions regarding court–tribunal interaction, permits courts to stay annulment proceedings or enforcement challenges for up to 60 days to enable tribunals to cure defects, and confirms that partial and interim awards have the authority of a final judgment and are directly enforceable.

  The ADGM and Dubai Courts have also introduced a system of reciprocal enforcement of ratified arbitral awards without the need to re-examine the underlying award.

  These developments therefore suggest a narrower approach and a reduced scope for expansive review at the enforcement stage.

  Recent trends have shown a more disciplined judicial approach with a clearer delineation of roles between courts and arbitral tribunals

  Judicial intervention: limits of review

  Courts have also refined the scope of annulment and supervisory review.

  The Abu Dhabi Court of Cassation clarified that annulment is not an appeal on the merits. Courts may not reweigh evidence or revisit a tribunal’s interpretation of the law. The grounds of annulment remain limited to the statutory grounds set out in the Federal Arbitration Law 3.

  Egyptian courts likewise limit grounds for annulment to exhaustively listed statutory grounds, excluding reassessment of the merits.

  In the wider regional landscape, Morocco’s arbitration reform demonstrates a similar trajectory. The updated framework modernises the regime and clarifies the supportive role of domestic courts, reinforcing a structured balance between oversight and arbitral autonomy.

  Across these jurisdictions, review powers are increasingly exercised within defined legal parameters rather than through re-examination of arbitral reasoning.

  Public policy: a limited exception

  Public policy continues to be a ground for refusing enforcement, but recent decisions suggest it is applied with greater restraint. For instance, in the UAE, the imposition of compound interest is not considered to be in contravention of public policy. 4 At the DIFC level, the Court specified that the refusal on public policy grounds is subject to a high standard and is only justified where enforcement would “violate the forum state’s most basic notions of morality and justice”. 5

  Saudi Arabia recognises sharia compliance and public policy as potential grounds for refusal. While rooted in the foundations of its legal system, they operate within defined statutory boundaries.

  Public policy therefore functions as a defined safeguard rather than a vehicle for broad review.

  Implications for cross-border activity

  Where enforcement review is confined to the grounds set out in the New York Convention and annulment remains limited to statutory bases, the interaction between tribunals and courts becomes more predictable. In disputes involving assets across multiple states, this delineation contributes to greater certainty at the post-award stage.

  The complementary role of the ICC

  Institutional practice operates alongside these developments.

  The ICC Court and its Secretariat ensure proceedings are conducted with care, independence, impartiality and integrity, in strict compliance with the Court’s obligations and duties under its rules. In doing so, the Court and the Secretariat monitor cases to safeguard due process and procedural fairness.

  One of the distinctive features of ICC arbitration and a cornerstone of the Rules is the Court’s scrutiny of all draft awards. Such a process serves to enhance the quality of the award, improve its general accuracy and persuasiveness; and maximise its legal effectiveness by identifying any defects that could be used in an attempt to have it set aside at the place of arbitration or resist its enforcement elsewhere. 

  In complex, multi-contract and multi-jurisdictional disputes, this scrutiny plays an important role in safeguarding enforceability across different jurisdictions. 

  As courts continue to define the limits of intervention, institutional discipline and judicial oversight increasingly operate side by side, reinforcing confidence in arbitration across the Middle East.

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  1. Dubai Court of Cassation – Cases No. 109/2022 and No. 403/2020  2. Dubai Court of Cassation – Appeals Nos. 778 and 887 of 2025  3. Abu Dhabi Court of Cassation – Cases Nos. 1115/2024 and No. 166/2024  4. Dubai Court of Cassation – Appeals Nos. 778 and 887 of 2025  5. DIFC Court of Appeal’s decision dated 9 January 2025

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  About the author
  Laetitia Rabbat is deputy counsel, ICC International Court of Arbitration, Abu Dhabi

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• 
  March 2026: Data drives regional projects

  27 March 2026

  Click here to download the PDF

  Includes: Commodity tracker | Top 10 global contractors | Brent spot price | Construction output

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  MEED’s April 2026 report on Saudi Arabia includes:

  > 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 push

  To see previous issues of MEED Business Review, please click here

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  MEED Editorial
• 
  Gulf economies under fire

  26 March 2026

  

   

  When the first missiles and drones were fired at the GCC on 28 February, the region’s economic story pivoted abruptly, from long-term vision-building to near-term resilience.

  The conflict is now the Gulf’s most consequential economic stress test in a generation. It is challenging the safe haven premium that underpins capital inflows, while disrupting the physical networks that keep the region’s economies running, from energy exports and shipping lanes to airports and tourism.

  Over the past two decades, GCC governments have worked to pair diversification with an image of stability: open economies, predictable regulation and security that felt, to many investors, close to non-negotiable.

  This crisis has reopened an older question last asked during the 1990 to 1991 Gulf War: not simply how fast the Gulf can grow, but whether it can remain investable and operational under sustained security risk. The early evidence is mixed and still emerging.

  Energy infrastructure has been damaged and supply chains have been paralysed, but other parts of the economy, such as retail and construction, have continued to operate largely as normal.

  LNG strike

  The clearest and most quantifiable example of the economic toll came when Iranian strikes targeted Ras Laffan Industrial City in Qatar. The damage reported by QatarEnergy is significant. Liquefied natural gas (LNG)-producing trains 4 and 6, which account for about 17% of Qatar’s total LNG exports, need repairing. The expected revenue loss is $20bn a year.

  In a statement, QatarEnergy president and CEO Saad Sherida Al-Kaabi said the repairs will take three to five years to complete, underlining the long-term impact on the Qatari economy. JP Morgan estimates that Qatar’s GDP could contract by 9% this year.

  Qatar is not the only GCC state to have suffered damage to its energy infrastructure. Bahrain, Kuwait, Oman, Saudi Arabia and the UAE have all had energy assets targeted.

  In addition to damage caused by missiles or drones, logistics problems triggered by the closure of the Strait of Hormuz are having a material impact. Aluminium Bahrain (Alba) has implemented a controlled shutdown of reduction lines 1, 2 and 3, one example of how supply chain paralysis is spreading into industry.

  By idling 19% of its production capacity, approximately 308,000 tonnes a year, Alba is attempting to preserve raw material inventory and prioritise the operational stability of its newer, more efficient lines 4, 5 and 6. However, the macro implications for Manama are severe. Alba contributes 12% to Bahrain’s GDP, with the broader aluminium sector, a vital driver of the kingdom’s Economic Vision 2030, accounting for over 15%.

  The conflict is now the Gulf’s most consequential economic stress test in a generation

  Dubai disruption

  In Dubai, where the economy has made great strides in diversifying away from oil and gas and into sectors including tourism, aviation and real estate, the disruption caused by the war is also taking a toll. Despite a few high-profile attacks, the city’s infrastructure remains almost entirely intact. The problem is that its accessibility has been halved. As of late March, data shows flight capacity hovering at 50% across 70% of destinations. Hotels in the emirate are operating at single-digit occupancy levels.

  In response, Dubai has begun reviewing support packages for the sector, including fee relief and the removal of penalties for delayed payments. This stance mirrors Dubai’s response to the Covid-19 pandemic, a crisis the emirate ultimately navigated well. The plan is that an initial focus on resilient source markets, such as Russia and Africa, will allow the tourism sector to move onto the road to recovery.

  The Dubai property market is perhaps the most sensitive barometer of international confidence. For three weeks, the market has lived in a state of suspended animation. While AED11.9bn in real estate sales were recorded in early March, analysts warn of a significant time lag. These figures represent registrations of sales agreed weeks or months ago, and the true impact of the 28 February escalation may not be reflected in official data until late March or April.

  Early indicators from brokers and market analysts point to falling transaction volumes. The narrative of safety and guaranteed returns that fuelled the post-pandemic boom, and attracted billions in overseas wealth, has been dented. Investors are increasingly seeking reassurance that their capital is not anchored in a conflict zone.

  Rather than cutting headline prices, which would damage long-term community values, some developers are offering registration waivers, 0.5% monthly payment plans and extended grace periods.

  More than 15,000 flights were cancelled at seven major regional airports in the first week of March

  Aviation strain

  With airports in Bahrain, Riyadh, Kuwait, Dubai and Abu Dhabi all targeted during the conflict, the Middle East’s aviation sector is grappling with unprecedented operational friction. According to Fitch Ratings, more than 15,000 flights were cancelled at seven major regional airports in the first week of March alone.

  The main international hubs, Dubai, Abu Dhabi and Doha, are facing a sharp spike in operating costs. Rerouting around restricted airspace requires longer flight paths, additional technical stops and increased expenses for crew overtime. While carriers have buffers through fuel hedging, ranging from 50% to 80%, the sheer volume of refunds, vouchers, and accommodation for 1.5 million displaced passengers is weighing on balance sheets.

  The aviation insurance market is also shifting. With insurers holding the right to cancel war cover during active conflict, the risk profile of regional fleets is being repriced in real time. 

  If the conflict remains short-lived, the impact on annual profitability may be temporary. But a prolonged period of airspace instability would test the flexibility of the region’s transport infrastructure at a time when aviation is meant to be a central pillar of growth.

  Banking support

  Underpinning all sectors is the banking system, and the response from regional regulators has been swift. The Central Bank of the UAE (CBUAE) has approved a Financial Institution Resilience Package that aims to both reassure and protect the economy.

  The UAE’s banking sector entered the conflict from a position of strength, with foreign exchange reserves exceeding AED1tn ($272bn) and a capital adequacy ratio of 17%. By allowing banks to tap reserve balances up to 30%, and providing term liquidity facilities in both dirhams and dollars, the CBUAE is signalling that the system remains liquid, capitalised, and ready to support corporate and individual borrowers through temporary classification flexibility.

  The outlook across the GCC is not uniform. S&P Global Ratings has flagged Bahrain and Qatar as more exposed to potential capital outflows. In a severe stress scenario, the region could see domestic deposit outflows of up to $307bn. Bahrain’s retail banks are under scrutiny due to recent growth in external debt and thinner funding buffers.

  The risk of non-performing loans also looms. S&P suggests that, in a high-stress scenario, total losses across the GCC’s 45 largest banks could reach $37bn, with the logistics, tourism and real estate sectors bearing the brunt. The banking sector is the ultimate backstop. While it is well-placed to navigate the conflict, much will depend on how long the economic impact lasts.

  Brand challenge

  For decades, the GCC has positioned itself as a place where capital is safe, taxes are low and the lifestyle is aspirational. The conflict that began on 28 February has undermined that perception of safety. Restoring it will be the key challenge for the coming years.

  All is far from lost. The region’s military defences have performed well, and casualties have been kept to a minimum. There has been economic damage, especially to energy infrastructure and airports, but elsewhere cities across the region have continued to function, with residents leading mostly normal lives.

  The region will be hoping it can demonstrate that it remains functional and safe even during conflict. While many who remained in the region may concur with that sentiment, the more difficult task will be convincing the rest of the world. Adding to that problem is the likelihood that the regime in Tehran remains, leaving the lingering possibility of further strikes in the future.

  That possibility will be a hurdle for investment decisions to overcome. The test for the region’s leaders is no longer only about building the world’s tallest buildings or largest smelters. It is about proving they can protect them. 

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  Colin Foreman
• 
  Arada completes Sokoon buildings construction

  26 March 2026

  Sharjah-based private real estate developer Arada has announced the completion of five additional buildings in the Naseej District of its Aljada development.

  Kuwaiti firm Mohammad Abdulmohsen Al-Kharafi & Sons secured the construction contract for the Sokoon buildings in 2023, replacing Airolink Building Contracting as the project’s main contractor.

  The first four Sokoon buildings were completed in December 2023.

  In April last year, Arada also announced the completion of all eight Tiraz buildings in the Naseej District. The Tiraz buildings comprise 920 homes, including studios, one-bedroom and two-bedroom apartments.

  With the completion of the five Sokoon buildings, Aljada’s total number of completed residential units has risen to more than 8,200.

  Spanning 2.2 square kilometres, Aljada features residential districts, retail spaces, educational institutions, healthcare services and other facilities.

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  Yasir Iqbal
• 
  Local contractor wins Medina substation contract

  26 March 2026

  Danway Saudi Arabia has won a contract with National Grid SA to construct a new 110/13.8kV substation in Medina.

  The contract is valued at more than SR100m ($26.7m) and covers the construction of the King Abdulaziz Road substation, including design, engineering, supply, installation, testing and commissioning.

  The project is expected to take approximately 23 months to complete.

  Key components include 110kV gas-insulated switchgear (GIS), 50/67MVA 110/13.8kV power transformers and 13.8kV switchgear.

  National Grid SA is a wholly owned subsidiary of Saudi Energy, formerly Saudi Electricity Company. It owns and operates the kingdom’s high-voltage transmission network and is responsible for grid planning, interconnection and system reliability.

  The operator recently appointed another local firm, Nesma Infrastructure & Technology, as the contractor for the construction of two 380kV double-circuit overhead transmission lines in Riyadh, connecting an existing substation to a wind power substation, referred to as Samha Wind BSP.

  As MEED understands, National Grid SA is also due to begin construction on the replacement of 132kV oil-filled underground cable circuits between several substations in the Central Operation Area in Murabba in Riyadh.

  Riyadh-based Keir International is the engineering, procurement and construction contractor for the project.

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  Mark Dowdall