US elections set to disappoint region
22 January 2024

Donald Trump’s thumping victory in the Republican Party’s Iowa caucus on 15 January – the first of the US presidential election year – suggests the former president will clear the first of three obstacles separating him from four more years in the White House.
Trump’s opponents claim the result means little and other challengers will shine in due course. The Republican Party’s nomination for president and vice-president, which will be confirmed at its national convention in Milwaukee in July, is far from certain.
But that was said in 2016. And we all know what happened next.
A larger obstacle is the 91 felony counts across two state courts and two federal districts, together with a civil suit in New York that could wreck Trump’s businesses. These will come to a head in the middle of the campaign and could influence it.
Lawsuits in some US states that seek to have Trump disqualified from the presidency even if he wins in November will certainly be challenged in the Supreme Court. This is unprecedented and the outcome cannot be confidently forecast.
The final hurdle is winning the presidential vote itself. Opinion polls suggest Trump would beat President Joe Biden, but not by much. More worrying for the Democrats is the slump in Biden’s job approval rating to the lowest for any US president in the past 15 years.
As in 2020, when he lost, Trump is loathed by many American voters. This time, however, Biden is the incumbent and Trump is the challenger. This could make all the difference.
Trump agenda
This spring, the world will have to face up to the prospect that Trump could well be back in 2025. But what could that mean?
Trump’s agenda pivots on appeasing social conservatives while pleasing the middle class with tax cuts and a fiscal policy that keeps the economy humming. The main differences with the Democrats are issues that split Americans across all parties – such as immigration, law and order, abortion and same-sex marriage – with little resonance abroad.
Trump has promised, as he did in 2016, to encourage more fossil fuel production. However, his foreign policy is potentially as consequential as any attempted by a US president in living memory.
In speeches and interviews in recent months, Trump has said he will review Nato’s mission and ask Europe to reimburse the US for almost $200bn-worth of munitions that it has sent to Ukraine. He has said he could end the Ukraine war in 24 hours, though no one knows how.
Trump plans to raise retaliatory tariffs against countries with trade barriers of their own and has floated the idea of a 10 per cent universal tariff. He has called for an end to China’s most-favoured nation status and new restrictions on Chinese ownership of US infrastructure. Trump rarely discusses Taiwan, though he asserts that China would never dare to invade it if he were president.
Other contentious ideas include intensifying the war against Mexican drug cartels by designating them as foreign terrorists and using special forces to attack their leadership and infrastructure inside Mexico. Under his presidency, the US Navy would enforce a blockade and the Alien Enemies Act would be used to deport drug dealers and gang members.
Addressing the new Middle East reality created since the Hamas attacks on 7 October last year is probably beyond America’s capacities, whoever is in the White House
Regional letdown
Trump’s pursuit of the unconventional overseas essentially stops at the Middle East, however. What he will do in office depends upon who he appoints as secretary of state and to his national security team, but there are clues.
Trump has shifted from criticising Israel’s leaders at the start of the war in Gaza to focusing on calls to crush Hamas and penalise Iran further. Even he cannot buck the pro-Israel passion of many US voters.
For Trump, the Arab world begins with Saudi Arabia. His first overseas visit as president in 2017 was to Riyadh, where he met King Salman bin Abdulaziz al-Saud and now Crown Prince Mohammed bin Salman al-Saud, heir to the Saudi throne. The kingdom was euphoric, and the memory of the early, heady days of the first Trump presidency still resonates.
His first secretary of state, Rex Tillerson, who the Saudi government knew as Exxon chief executive, was quickly sidelined and replaced in 2018 by Mike Pompeo, a pro-Israel hawk.
The Abraham Accords negotiated by Trump’s son-in-law Jared Kushner fell well short of the kingdom’s long-standing priorities. Riyadh indicated it would follow Bahrain and the UAE into the deal subject to an improbable condition: the creation of a Palestinian state in line with the Arab Peace Initiative approved by the Arab League in 2002.
Trump probably believes the accords and the transfer of the US embassy to Jerusalem is his lasting Middle East policy initiative. It may well be his only one. Addressing the new Middle East reality created since the Hamas attacks on 7 October last year is probably beyond America’s capacities, whoever is in the White House.
Experience shows that hopes of a US presidential election making a major difference in the Middle East have been dashed time and time again.
The last time Saudi Arabia publicly signalled its backing for a candidate was when the kingdom’s then ambassador to the US, Prince Bandar bin Sultan, appeared at a meeting in support of President George H Bush in 1992. This was probably counterproductive. Bill Clinton won that year, in part because of his charge that Bush’s foreign policy was potentially antisemitic.
There are three foundations to the Middle East’s view of the battle for the White House in 2024.
Firstly, there is little that regional powers can do to influence it.
Secondly, whoever wins will invariably default to the prevailing wisdom and doctrine in Washington, which at present is staunchly pro-Israel.
And thirdly, the region’s future is mainly in its own hands. It is this – not who wins or loses in November – that is the more important realisation.
Image: Trump’s first overseas visit as president in 2017 was to Riyadh, where he met King Salman bin Abdulaziz al-Saud. Credit: Official White House Photo/Flickr
Exclusive from Meed
-
Read the March 2026 MEED Business Review3 March 2026
-
Firms prepare Port of Duqm consultancy bids3 March 2026
-
Diriyah awards Pendry superblock package3 March 2026
-
Local firm to develop $598m Muscat tourism project3 March 2026
-
Firms to build Jeddah Islamic port logistics zone3 March 2026
All of this is only 1% of what MEED.com has to offer
Subscribe now and unlock all the 153,671 articles on MEED.com
- All the latest news, data, and market intelligence across MENA at your fingerprints
- First-hand updates and inside information on projects, clients and competitors that matter to you
- 20 years' archive of information, data, and news for you to access at your convenience
- Strategize to succeed and minimise risks with timely analysis of current and future market trends
Related Articles
-
Read the March 2026 MEED Business Review3 March 2026
Download / Subscribe / 14-day trial access Saudi Arabia’s priorities have shifted over the past decade, with officials at February’s Private Sector Forum confirming a reprioritisation since 2016 that includes postponing the 2029 Asian Winter Games in Trojena and scaling back projects such as The Line in response to global economic uncertainty.
In 2026, the Public Investment Fund’s role as the main driver of development is shifting towards greater private sector involvement, a transition examined by MEED editor Colin Foreman in the latest issue of MEED Business Review.March’s market focus is on Egypt, where the country’s crisis mode is giving way to a cautious revival.
This edition also reports that the region’s downstream sector may face subdued project spending in 2026 due to flattening demand and weak margins.
In the latest issue, we disprove the Ramadan slowdown story, present exclusive leadership insight from Jacobs on delivering Saudi Arabia’s next phase of rail growth and outline some important lessons learnt from a power plant decommissioning. We also talk to senior executives at Enersol, Lamar Holding and Metito.
We hope our valued subscribers enjoy the March 2026 issue of MEED Business Review.

Must-read sections in the March 2026 issue of MEED Business Review include:
> AGENDA: Saudi Arabia’s private sector picks up the baton> RAMADAN: Data disproves the Ramadan slowdown story
INDUSTRY REPORT:
Downstream
> Chemicals producers look to cut spending
> Global petrochemical project capex set to rise until 2030> LEADERSHIP: Delivering Saudi Arabia’s next phase of rail growth
> POWER: Lessons learnt from a power plant decommissioning
> INTERVIEW: Abu Dhabi’s Enersol charts acquisitions path
> INTERVIEW: Lina Noureddin, CEO of Lamar Holding, on the evolving PPP landscape
> INTERVIEW: Contract award marks Metito’s return to municipal projects
> MARKET FOCUS EGYPT:
> COMMENT: Egypt’s crisis mode gives way to cautious revival
> GOVERNMENT: Egypt adapts its foreign policy approach
> ECONOMY & BANKING: Egypt nears return to economic stability
> OIL & GAS: Egypt’s oil and gas sector shows bright spots
> POWER & WATER: Egypt utility contracts hit $5bn decade peak
> CONSTRUCTION: Coastal destinations are a boon to Egyptian construction> MEED COMMENTS:
> Winter Games delay raises uncertainty for Saudi construction
> Duqm petrochemicals revival provides fillip to Gulf projects market
> Solar deals signal Saudi Arabia’s energy ambitions
> Hydrogen bridge awaits bankable contracts> GULF PROJECTS INDEX: Gulf index leaps upward in 2026
> JANUARY 2025 CONTRACTS: Middle East contract awards
> ECONOMIC DATA: Data drives regional projects
> OPINION: The war that (almost) no one wants
> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts
To see previous issues of MEED Business Review, please click herehttps://image.digitalinsightresearch.in/uploads/NewsArticle/15839736/main.gif -
Firms prepare Port of Duqm consultancy bids3 March 2026
Oman’s Port of Duqm has issued tender notices inviting consultants to bid for two packages by mid-March.
The scope of the first tender covers the consultancy services for inspection, scope preparation and supervision of the sewage treatment plant.
The bid submission deadline is 18 March.
The scope of the other tender includes the consultancy services for port marine traffic assessment/simulation and impact study.
The bid submission deadline for this package is on 17 March.
Both tenders were floated late last month.
The Port of Duqm is a deepwater, multipurpose port on Oman’s Arabian Sea coast, developed within the Special Economic Zone at Duqm (Sezad).
Its location outside the Strait of Hormuz is a key advantage, positioning Duqm as a strategic alternative gateway for cargo moving between the Gulf, the Indian subcontinent and East Africa, and supporting Oman’s push to grow non-oil trade and port-led industry.
Designed to handle a mix of cargoes, including containers, dry bulk, breakbulk and liquid bulk, the port forms part of a wider Duqm complex that also includes a major dry dock and large industrial land allocations for energy, manufacturing and logistics projects.
As the port and SEZ expand in phases, consultancy tenders typically reflect the next steps in delivery and operations, covering engineering and technical studies, commercial assessments, and readiness planning tied to new terminals and industrial tie-ins.
https://image.digitalinsightresearch.in/uploads/NewsArticle/15840397/main.jpg -
Diriyah awards Pendry superblock package3 March 2026

Saudi Arabian gigaproject developer Diriyah Company has awarded an estimated SR2.5bn ($666m) contract to build the Pendry superblock package in the second phase of the Diriyah Gate development (DG2).
The contract was awarded to the local firm Saudi Constructioneers.
The Pendry superblock encompasses the construction of a hotel, known as the Pendry Hotel, along with residential and commercial assets.
The project will cover an area of 75,365 square metres (sq m) and is located in the northwestern district of the DG2 area.
Contractors had submitted final proposals for a contract in September last year, as MEED reported.
The tender was issued in June last year.
The latest contract follows the Diriyah Company’s award of a SR717m ($192m) contract for the construction of the One Hotel, located in the Diriyah Two area of the masterplan.
The contract was awarded to the joint venture of local firm BEC Arabia and Indian contractor Ashoka Buildcon.
The project has a gross floor area of over 31,000 sq m.
The Diriyah masterplan envisages the city as a cultural and lifestyle tourism destination. Located northwest of Riyadh’s city centre, it will cover 14 square kilometres and combine 300 years of history, culture and heritage with hospitality facilities.
https://image.digitalinsightresearch.in/uploads/NewsArticle/15778187/main.jpg -
Local firm to develop $598m Muscat tourism project3 March 2026
Oman’s Ministry of Heritage & Tourism has signed an agreement with local firm Sorouh Al-Qurm Real Estate Company to build an integrated tourism complex in the Al-Qurm area of Muscat.
The project will be developed with a total investment estimated at RO230m ($598m).
Planned across more than 165,000 square metres (sq m), the development will include two four-star hotels offering over 400 rooms, alongside leisure components such as an indoor games hall and trampoline attractions.
The site will also incorporate commercial spaces and freehold residential units, among other amenities.
The agreement was signed by Sayyid Ibrahim Bin Said Al-Busaidi, minister of heritage and tourism, and Khaled Khudair Mashaan, chairman of Al-Argan International Real Estate Company, who signed as the authorised representative for Sorouh Al-Qurm Real Estate Company.
GlobalData forecasts that the Omani construction industry will expand at an average annual growth rate of 4.2% from 2025 to 2028.
Growth in the country will be supported by rising government investments in renewable energy and transport infrastructure, as well as in the housing sector, as part of the Oman Vision 2040 plan.
https://image.digitalinsightresearch.in/uploads/NewsArticle/15839476/main.jpg -
Firms to build Jeddah Islamic port logistics zone3 March 2026
The Saudi Ports Authority (Mawani) has signed an agreement with Dammam-headquartered Sultan Logistics to develop a new logistics zone at Jeddah Islamic Port’s Al-Khumra site.
According to a statement posted by Mawani on X, the project will cover about 200,000 square metres and represents an investment of SR250m ($66m).
#موانئ توقّع عقد تأجير مع شركة "سلطان لوجستيك" لإنشاء منطقة لوجستية بقيمة استثمارية 250 مليون ريال؛ في #ميناء_جدة_الإسلامي بمنطقة الخُمرة، بما يسهم في رفع كفاءة الحركة التجارية، وتعزيز الميزة التنافسية للميناء كمحور رئيسي للتجارة على البحر الأحمر. pic.twitter.com/sswITiFIHb
— مـوانـئ | MAWANI (@MawaniKSA) March 2, 2026
Planned facilities include warehouses, designated areas for storing and servicing dry and refrigerated containers, and a re-export section.
Mawani said the development is intended to strengthen the port’s position on the Red Sea by upgrading service quality, supporting private sector participation and contributing to Saudi Arabia’s broader economic diversification goals.
Jeddah Islamic Port currently operates 62 multipurpose berths and can handle up to 130 million tonnes a year.
The latest agreement follows Mawani’s April 2025 signing of more than SR500m ($133m) in agreements with local firms to develop two logistics parks at King Abdulaziz Port in Dammam, as reported by MEED.
In a statement, Mawani said that in 2024, it launched and inaugurated eight logistics parks with an estimated investment of about SR3bn ($800m).
The firm said: “These investments are part of the broader development of over 20 logistics centres under Mawani’s supervision across Saudi ports, with total investments over SR10bn ($2.6bn).”
GlobalData expects the Saudi construction industry to record an annual average growth rate of 5.2% in 2025-28, supported by investments in transport, electricity, housing and tourism infrastructure projects, as well as the $850bn-plus gigaprojects programme.
The infrastructure construction sector is expected to grow at an average rate of 6% in 2025-28, supported by government investments in rail, dams and road infrastructure projects.
https://image.digitalinsightresearch.in/uploads/NewsArticle/15838212/main.gif
