GCC construction contracts worth $39bn awarded in H1 2013: Report

Construction and transport sector contracts worth over $39 billion have been awarded for projects in the GCC in the first half of 2013, according to a new report published today by a regional project tracking database.

In a statement today, Meed Projects, which tracks property and infrastructure projects across the Mena region, said that Qatar Rail is the top ranked awarding client and ABV Rock is the top ranked contractor by value of contracts awarded.

Nearly a quarter (24 per cent) of the total estimated amount was awarded by Qatar Rail for five packages of the Doha Metro. These five contracts, worth a combined $8.4bn, ranked Qatar Rail top of the list of clients to award contracts in 2013 and made Qatar the biggest market in the GCC for construction and transport awards during the first half of the year.

One UAE project featured in the rankings for the top 10 clients: Louvre Abu Dhabi on Saadiyat Island; the contract, worth $653 million, placed TDIC in seventh position in the client rankings and the contracting consortium of Arabtec, San José and Oger at 12th.

The second ranked client was the Saudi Arabia Ministry of Interior: four contracts worth $6.1bn for the Security Forces Medical Complex in Riyadh and the KAP 3 and 4 security compounds were awarded, Meed Projects said. Saudi Ministry of Interior’s awards contributed 17 per cent of total awards in the GCC during the first half of 2013.

Contracting consortiums dominated the list of the top 10 ranked contractors, reflecting the size and number of contracts being awarded by Qatari clients.

Five of the 10 biggest contracts were awarded to consortiums for projects in Doha: four for the Doha Metro and one for Phase 3 of the Msheireb Downtown Doha development. The top ranked contractor was Saudi Binladin Group, after the award of a $3.5bn contract for Abraj Kudai in Mecca.

The Saudi Ministry of Housing awarded six infrastructure projects worth more than $1bn. Al Rashid Contracting won the housing location near Riyadh airport worth nearly one third the Ministry awards year to date.

Project owners against net project value

Source: Meed Projects

Contractors against net project value

Source: Meed Projects

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