United Arab Emirates Projects, H2 2020 with COVID-19 impact update – MEED Insights

It has been a difficult 12 months for the United Arab Emirates Projects, market. Previously viewed as a stable market relatively immune to the oil price, it posted a substantial fall in total project awards in 2019 to just over $31bn from $48bn the previous year.

The United Arab Emirates Projects, market has had a more difficult first half of 2020 than its neighbours with contract awards down more than a third on the same period last year. As with neighbouring markets Covid-19 has been a factor but it has masked the fact that the market was already in sharp decline thanks to oversupply in its real estate sector.

The issue is compounded by the federation’s exposure to the global tourism shutdown and a decrease in aviation and retail spending. Despite a series of government announcements and initiatives to stimulate the economy, it is clear that it will be sometime before the market can return to its pre-2015 levels.

In the absence of a vibrant property sector, contractors and consultants will increasingly look to the government infrastructure sector as a source of new project opportunities. Water, power, road and other transport infrastructure will take on a greater significance as companies seek to win a smaller pool of new business opportunities.

Many project companies active in the federation have reacted by lowering margins in the face of increased competition or by focusing on other countries, particularly Saudi Arabia. Others have downsized to cut costs or left the market altogether.

In this challenging environment firms will have to be smart in order to prosper. Selecting the right clients, specialising in niche sectors, and introducing novel technologies are all tools companies can harness in order to stay ahead of the competition.

It is not all doom and gloom, however. Some sectors, specially water and renewable energy, are growing. Oil and gas spending in Abu Dhabi is also forecast to increase over the coming year.

Likewise, the pipeline of Projects, in the United Arab Emirates sits at more than $670bn. Although there are undoubtable challenges in the short term, the long term prognosis is still relatively healthy. Regardless of what happens, the United Arab Emirates market will remain one of the largest Projects, markets in the region.

Written by MEED, the Middle East market experts within the GlobalData Group, "United Arab Emirates Projects, H2 2020", is the update to this year’s H1 report. Focused on data, it is aimed at helping companies create strategies for targeting and growing the market.

Reasons to buy

Opportunities and challenges in the United Arab Emirates’s Projects, market

Analysis of the pipeline of planned Projects, and contract awards

Key policies and drivers shaping the outlook for Projects, in the United Arab Emirates

Political and economic background

The barriers and challenges that may arise

Sector-by-sector breakdown of future project plans

Key drivers of Projects, in each sector

The United Arab Emirates’s most valuable key Projects, and major project sponsors

Table of Contents

Table of Contents

Preface

Executive Summary

UAE Country Overview

UAE Projects Market

Impact of COVID-19 and Latest Forecasts

Oil and Gas

Construction

Transport

Industrial

Power and Water

List of Tables

List of Tables

Top Projects

Biggest planned and un-awarded projects in the UAE

Top Oil and Gas Sector Projects

Biggest planned and un-awarded Oil and Gas projects in the UAE Due in Bidding Stage

Biggest planned and un-awarded Oil and Gas projects in the UAE at Design, FEED or Study Stage

Top Construction Sector Projects

Biggest planned and un-awarded Construction projects in the UAE Due in Bidding Stage

Biggest planned and un-awarded Construction projects in the UAE at Design, FEED or Study Stage

Top Transport Sector Projects

Biggest planned and un-awarded Transport projects in the UAE Due in Bidding Stage

Biggest planned and un-awarded Transport projects in the UAE at Design, FEED or Study Stage

Top Industrial Sector Projects

Biggest planned and un-awarded Industrial projects in the UAE Due in Bidding Stage

Biggest planned and un-awarded Industrial projects in the UAE at Design, FEED or Study Stage

Top Power and Water Sector Projects

Biggest planned and un-awarded Power and Water projects in the UAE Due in Bidding Stage

Biggest planned and un-awarded Power and Water projects in the UAE at Design, FEED or Study Stage

List of Figures

List of Figures

UAE country map

GDP by sector, 2018 (%)

GDP by emirate, 2018 (%)

Population by emirate, 2019e (%)

UAE Nominal GDP vs. GDP Growth, 2010-23

UAE budget, 2010-20 (AED bn)

Gulf Projects Index Value of all projects in the UAE ($m)

Projects market by project status ($m)

Projects market by sector ($m)

Projects market by project status ($m), Dubai

Projects market by sector ($m), Dubai

Projects market by project status ($m), Abu Dhabi

Projects market by sector ($m), Abu Dhabi

Value of contract awards by year ($m)

Number of Contracts Awarded 2010-19

Value of contract awards by Dubai vs Abu Dhabi ($m)

Biggest clients in the UAE by value of contracts in execution ($m)

Biggest contractors in the UAE by contracts in execution ($m)

Projects planned but un-awarded by status ($m)

Projects planned but un-awarded by sector ($m)

Biggest clients in the UAE by value of contracts planned ($m)

Covid-19 cases in the Middle East and North Africa region since 1 March 2020

Value of contracts awarded in the UAE in January to June, 2010-20 ($m)

Value of contract awards by year and sector ($m)

UAE revised contracts award forecast based on COVID-19 impact ($m)

Value of Oil and Gas contract awards by year ($m)

Oil and Gas projects market by project status ($m)

Oil and Gas projects market by subsector (%)

Value of Oil and Gas contract awards by year and subsector ($m)

Biggest Oil and Gas Sector clients in the UAE by value of contracts in execution ($m)

Biggest Oil and Gas Sector contractors in the UAE by contracts in execution ($m)

Oil and Gas Projects planned but un-awarded by status ($m)

Oil and Gas Sector Projects planned but un-awarded by subsector ($m)

Biggest Oil and Gas Sector Future Clients

Value of Construction contract awards by year ($m)

Construction projects market by project status ($m)

Construction projects market by subsector (%)

Value of Construction contract awards by year and subsector ($m)

Biggest Construction Sector clients in the UAE by value of contracts in execution ($m)

Biggest Construction Sector contractors in the UAE by contracts in execution ($m)

Construction Projects planned but un-awarded by status ($m)

Construction Sector Projects planned but un-awarded by subsector ($m)

Biggest Construction Sector Future Clients

Value of Transport contract awards by year ($m)

Transport projects market by project status ($m)

Transport projects market by subsector (%)

Value of Transport contract awards by year and subsector ($m)

Biggest Transport Sector clients in the UAE by value of contracts in execution ($m)

Biggest Transport Sector contractors in the UAE by contracts in execution ($m)

Transport Projects planned but un-awarded by status ($m)

Transport Sector Projects planned but un-awarded by subsector ($m)

Biggest Transport Sector Future Clients

Value of Industrial contract awards by year ($m)

Industrial projects market by project status ($m)

Industrial projects market by subsector (%)

Value of Industrial contract awards by year and subsector ($m)

Biggest Industrial Sector clients in the UAE by value of contracts in execution ($m)

Biggest Industrial Sector contractors in the UAE by contracts in execution ($m)

Industrial Projects planned but un-awarded by status ($m)

Industrial Sector Projects planned but un-awarded by subsector ($m)

Biggest Industrial Sector Future Clients

Value of Power and Water contract awards by year ($m)

Power and Water projects market by project status ($m)

Power and Water projects market by subsector (%)

Value of Power and Water contract awards by year and subsector ($m)

Biggest Power and Water Sector clients in the UAE by value of contracts in execution ($m)

Biggest Power and Water Sector contractors in the UAE by contracts in execution ($m)

Power and Water Projects planned but un-awarded by status ($m)

Power and Water Sector Projects planned but un-awarded by subsector ($m)

Biggest Power and Water Sector Future Clients

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