MEED Insights: Middle East and North Africa (MENA) Projects Market Outlook 2019

The Middle East and North Africa (MENA) region is home to some of the most exciting projects markets in the world, offering abundant opportunities as governments seek to develop infrastructure to meet the needs of rapidly expanding populations, and to deliver economic diversification. Since 2008, some $2.3tn of contracts have been awarded across the region, an average of about $216bn of awards a year, with the GCC accounting for almost two thirds of this. And with an estimated $1.8tn of projects planned across the region, the pipeline of future projects is vast.

But while the need for infrastructure has never diminished, the crash in oil prices from 2014 to 2016 has seen major changes to the market. The introduction in 2016 of fiscal adjustment policies led to a sharp slowdown in project spending, with the value of contract awards falling to about $180bn a year in 2016 and 2017, compared to $226bn a year from2008 to 2015. This reduced level of awards is set to continue in 2018 and 2019.

It is a difficult time for project companies in the region. The reduced level of new opportunities and increasing competition have seen a hardening in the market as project clients have pushed for lower prices and delayed payments. Faced with falling profit margins and tightening cash flow, project companies are rethinking their strategies and restructuring. While heightened geopolitical tensions are increasing political risks in the region.

Despite this, the region still offers some of the best project opportunities in the world. The need for infrastructure and economic diversification is greater than ever. And, as home to some of the world’s wealthiest countries, the financial muscle is available to meet these needs and the recovery in oil prices and economic growth in 2018 has seen an improvement in the underlying conditions for project spending. But anyone seeking to do business in the region must be both flexible and patient. The biggest projects will take time to come to the market, and contract award levels may never recover to pre-2016 levels.

Some of the most significant projects will be driven by a new generation of clients such as the Renewable Energy Project Development Office (Repdo), or Public Investment Fund (PIF), both in Saudi Arabia, or the Kuwait Authority for Private Partnerships (KAPP), which are seeking private sector partners for strategic projects in tourism, housing, renewable energy, and transport. The return of markets Egypt and Iraq will also drive opportunities.

Written by MEED, the Middle East market experts within the GlobalData Group, a new approach to project delivery is required. Governments want greater economic sustainability and are seeking innovation improve efficiency and reduce the need for capacity expansions. Private developers are expected to take a larger share of the capital burden through public private partnerships (PPP), as well as through the privatisation of state utilities. And future projects are expected to deliver more ‘in-country’ value in terms of job and supply chain opportunities for local companies.

Scope

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Reasons to buy

Identify new opportunities in the MENA region

Gain outlook for contract awards 2018-2022

Learn about country and sector breakdown of future project plans

Support business planning and strategy

Identify challenges to enable you to mitigate and avoid risk

Profile contractor landscape in each sector

Assess the challenges in MENA’s projects market

Table of Contents

Table of Contents

Executive Summary

Regional Overview

Algeria

Bahrain

Egypt

Iran

Iraq

Jordan

Kuwait

Lebanon

Libya

Morocco

Oman

Qatar

Saudi Arabia

Tunisia

UAE

List of Tables

List of Tables

Table 1: Biggest megaprojects under construction in Mena region

Table 2: Biggest megaprojects under construction in Algeria

Table 3: Major projects to be tendered in 2018 and 2019

Table 4: Biggest megaprojects under construction in Bahrain

Table 5: Major projects to be tendered in 2018 and 2019

Table 6: Biggest megaprojects under construction in Egypt

Table 7: Major projects to be tendered in 2018 and 2019

Table 8: Biggest megaprojects under construction in Iran

Table 9: Major projects to be tendered in 2018 and 2019

Table 10: Biggest megaprojects under construction in Iraq

Table 11: Major projects to be tendered in 2018 and 2019

Table 12: Biggest megaprojects under construction in Jordan

Table 13: Major projects to be tendered in 2018 and 2019

Table 14: Biggest megaprojects under construction in Kuwait

Table 15: Major projects to be tendered in 2018 and 2019

Table 16: Biggest megaprojects under construction in Lebanon

Table 17: Major projects to be tendered in 2018 and 2019

Table 18: Biggest megaprojects under construction in Libya

Table 19: Major projects to be tendered in 2018 and 2019

Table 20: Biggest megaprojects under construction in Morocco

Table 21: Major projects to be tendered in 2018 and 2019

Table 22: Biggest megaprojects under construction in Oman

Table 23: Major projects to be tendered in 2018 and 2019

Table 24: Biggest megaprojects under construction in Qatar

Table 25: Major projects to be tendered in 2018 and 2019

Table 26: Biggest megaprojects under construction in Saudi Arabia

Table 27: Major projects to be tendered in 2018 and 2019

Table 28: Biggest megaprojects under construction in Tunisia

Table 29: Major projects to be tendered in 2018 and 2019

Table 30: Biggest megaprojects under construction in UAE

Table 31: Major projects to be tendered in 2018 and 2019

List of Figures

List of Figures

Fig. 1: Mena projects market by country and region ($m)

Fig. 2: Mena projects market by country and sector ($m)

Fig. 3:Mena contract awards by year and sector ($m)

Fig. 4:Status of planned projects in Mena region ($m)

Fig. 5: Planned projects in the mena region by sector ($m)

Fig. 6: Mena oil, gas and petrochemicals awards, 2008-2018 ($m)

Fig. 7: Planned or underway oil, gas and petrochemicals projects by country ($m)

Fig. 8: Status of oil, gas and petrochemicals projects in Mena region ($m)

Fig. 9: Planned oil, gas and petrochemicals projects by sector ($m)

Fig. 10: Mena construction awards, 2008-2018 ($m)

Fig. 11: Planned or underway construction projects by country ($m)

Fig. 12: Status of construction projects in Mena region ($m)

Fig. 13: Planned construction projects by sector ($m)

Fig. 14: Mena transport awards, 2008-2018 ($m)

Fig. 15: Planned or underway transport projects by country ($m)

Fig. 16: Status of transport projects in Mena region ($m)

Fig. 17: Planned transport projects by sector ($m)

Fig. 18: Mena power and water awards, 2008-2018 ($m)

Fig. 19: Planned or underway power and water projects by country ($m)

Fig. 20: Status of power and water projects in Mena region ($m)

Fig. 21: Mena power project awards, 2008-2018 ($m)

Fig. 22: Planned or underway power projects by country ($m)

Fig. 23: Status of power projects in Mena region ($m)

Fig. 24: Planned power projects by segment ($m)

Fig. 25: planned power projects in Mena region by country ($m)

Fig. 26: Mena water and wastewater project awards, 2008-2018 ($m)

Fig. 27: Planned or underway water and wastewater projects by country ($m)

Fig. 28: Status of water and wastewater projects in Mena region ($m)

Fig. 29: Planned water and wastewater projects by segment ($m)

Fig. 30: planned water and wastewater projects in Mena region by country ($m)

Fig. 31: Mena industrial awards, 2008-2018 ($m)

Fig. 32: Planned or underway industrial projects by country ($m)

Fig. 33: Status of industrial projects in Mena region ($m)

Fig. 34: Planned industrial projects by product type ($m)

Fig. 35: Projects market, by project status ($m)

Fig. 36: Projects market, by sector (%)

Fig. 37:Value of contract awards by year ($m)

Fig. 38:Value of contract awards by year and sector ($m)

Fig. 39:Biggest clients in Algeria by contracts in execution ($m)

Fig. 40: Biggest contractors in Algeria by contracts in execution ($m)

Fig. 41: Projects planned but unawarded, by sector ($m)

Fig. 42: Projects market, by project status ($m)

Fig. 43: Projects market, by sector (%)

Fig. 44:Value of contract awards by year ($m)

Fig. 45:Value of contract awards by year and sector ($m)

Fig. 46:Biggest clients in Bahrain by contracts in execution ($m)

Fig. 47: Biggest contractors in Bahrain by contracts in execution ($m)

Fig. 48: Projects planned but unawarded, by sector ($m)

Fig. 49: Bahrain project contract awards forecast, 2018-2022 ($m)

Fig. 50: Projects market, by project status ($m)

Fig. 51: Projects market, by sector (%)

Fig. 52:Value of contract awards by year ($m)

Fig. 53:Value of contract awards by year and sector ($m)

Fig. 54:Biggest clients in Egypt by contracts in execution ($m)

Fig. 55: Biggest contractors in Egypt by contracts in execution ($m)

Fig. 56: Projects planned but unawarded, by sector ($m)

Fig. 57: Egypt project contract awards forecast, 2018-2022 ($m)

Fig. 58: Projects market, by project status ($m)

Fig. 59: Projects market, by sector (%)

Fig. 60:Value of contract awards by year ($m)

Fig. 61:Value of contract awards by year and sector ($m)

Fig. 62:Biggest clients in Iran by contracts in execution ($m)

Fig. 63: Biggest contractors in Iran by contracts in execution ($m)

Fig. 64: Projects planned but unawarded, by sector ($m)

Fig. 65: Projects market, by project status ($m)

Fig. 66: Projects market, by sector (%)

Fig. 67:Value of contract awards by year ($m)

Fig. 68:Value of contract awards by year and sector ($m)

Fig. 69:Biggest clients in Iraq by contracts in execution ($m)

Fig. 70: Biggest contractors in Iraq by contracts in execution ($m)

Fig. 71: Projects planned but unawarded, by sector ($m)

Fig. 72: Iraq project contract awards forecast, 2018-2022 ($m)

Fig. 73: Projects market, by project status ($m)

Fig. 74: Projects market, by sector (%)

Fig. 75:Value of contract awards by year ($m)

Fig. 76:Value of contract awards by year and sector ($m)

Fig. 77:Biggest clients in Jordan by contracts in execution ($m)

Fig. 78: Biggest contractors in Jordan by contracts in execution ($m)

Fig. 79: Projects planned but unawarded, by sector ($m)

Fig. 80: Projects market, by project status ($m)

Fig. 81: Projects market, by sector (%)

Fig. 82:Value of contract awards by year ($m)

Fig. 83:Value of contract awards by year and sector ($m)

Fig. 84:Biggest clients in Kuwait by contracts in execution ($m)

Fig. 85: Biggest contractors in Kuwait by contracts in execution ($m)

Fig. 86: Projects planned but unawarded, by sector ($m)

Fig. 87: Kuwait project contract awards forecast, 2018-2022 ($m)

Fig. 88: Projects market, by project status ($m)

Fig. 89: Projects market, by sector (%)

Fig. 90:Value of contract awards by year ($m)

Fig. 91:Value of contract awards by year and sector ($m)

Fig. 92:Biggest clients in Lebanon by contracts in execution ($m)

Fig. 93: Biggest contractors in Lebanon by contracts in execution ($m)

Fig. 94: Projects planned but unawarded, by sector ($m)

Fig. 95: Projects market, by project status ($m)

Fig. 96: Projects market, by sector (%)

Fig. 97:Value of contract awards by year ($m)

Fig. 98:Value of contract awards by year and sector ($m)

Fig. 99:Biggest clients in Libya by contracts in execution ($m)

Fig. 100: Biggest contractors in Libya by contracts in execution ($m)

Fig. 101: Projects planned but unawarded, by sector ($m)

Fig. 102: Projects market, by project status ($m)

Fig. 103: Projects market, by sector (%)

Fig. 104:Value of contract awards by year ($m)

Fig. 105:Value of contract awards by year and sector ($m)

Fig. 106:Biggest clients in Morocco by contracts in execution ($m)

Fig. 107: Biggest contractors in Morocco by contracts in execution ($m)

Fig. 108: Projects planned but unawarded, by sector ($m)

Fig. 109: Projects market, by project status ($m)

Fig. 110: Projects market, by sector (%)

Fig. 111:Value of contract awards by year ($m)

Fig. 112:Value of contract awards by year and sector ($m)

Fig. 113:Biggest clients in Oman by contracts in execution ($m)

Fig. 114: Biggest contractors in Oman by contracts in execution ($m)

Fig. 115: Projects planned but unawarded, by sector ($m)

Fig. 116: Oman project contract awards forecast, 2018-2022 ($m)

Fig. 117: Projects market, by project status ($m)

Fig. 118: Projects market, by sector (%)

Fig. 119:Value of contract awards by year ($m)

Fig. 120:Value of contract awards by year and sector ($m)

Fig. 121:Biggest clients in Qatar by contracts in execution ($m)

Fig. 122: Biggest contractors in Qatar by contracts in execution ($m)

Fig. 123: Projects planned but unawarded, by sector ($m)

Fig. 124: Qatar project contract awards forecast, 2018-2022 ($m)

Fig. 125: Projects market, by project status ($m)

Fig. 126: Projects market, by sector (%)

Fig. 127:Value of contract awards by year ($m)

Fig. 128:Value of contract awards by year and sector ($m)

Fig. 129:Biggest clients in Saudi Arabia by contracts in execution ($m)

Fig. 130: Biggest contractors in Saudi Arabia by contracts in execution ($m)

Fig. 131: Projects planned but unawarded, by sector ($m)

Fig. 132: Saudi Arabia project contract awards forecast, 2018-2022 ($m)

Fig. 133: Projects market, by project status ($m)

Fig. 134: Projects market, by sector (%)

Fig. 135:Value of contract awards by year ($m)

Fig. 136:Value of contract awards by year and sector ($m)

Fig. 137:Biggest clients in Tunisia by contracts in execution ($m)

Fig. 138: Biggest contractors in Tunisia by contracts in execution ($m)

Fig. 139: Projects planned but unawarded, by sector ($m)

Fig. 140: Projects market by project status ($m)

Fig. 141: Projects market by sector (%)

Fig. 142: Projects market by project status in Dubai ($m)

Fig. 143: Projects market by sector in Dubai (%)

Fig. 144: Projects market by project status in Abu Dhabi ($m)

Fig. 145: Projects market by sector in Abu Dhabi (%)

Fig. 146: Value of contract awards by year ($m)

Fig. 147: Value of contract awards by year and sector ($m)

Fig. 148: Value of contract awards by year in Dubai ($m)

Fig. 149: Value of contract awards by year and sector in Dubai ($m)

Fig. 150: Value of contract awards by year in Abu Dhabi ($m)

Fig. 151: Value of contract awards by year and sector in Abu Dhabi ($m)

Fig. 152: Biggest clients in the UAE by contracts in execution ($m)

Fig. 153: Biggest contractors in the UAE by contracts in execution ($m)

Fig. 154: Projects planned but unawarded, by sector ($m)

Fig. 155: UAE project contract awards forecast, 2018-2022 ($m)

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