Middle East > Construction projects

Construction projects in Middle East

  • Qatar’s major works driving growth

    QATAR, 2017/04/16 The Qatari government has increased its budget allocation for major works this year, with a lot of of the projects being undertaken in preparation for the 2022 FIFA World Cup well under way. Key indicators Indeed, in the third quarter of 2016 the construction industry grew by 12.4% year-on-time(y-o-y) and contributed 1.9 % points to y-o-y non-hydrocarbon increase. By comparison, financial services contributed 0.9 % points, according to Ministry of Development Planning and Statistics data.

  • Saudi's Binladin Group to axe 15,000 jobs

    SAUDI ARABIA, 2015/11/26 In a sign of the times, Saudi Arabia's Binladin Group has announced the layoff of some 15,000 staff, Reuters reports. One of Saudi Arabia's major firms, the Binladin Group employs around 200,000 people and is considered one of the Middle East's major builders. Some of the 15,000 workers will be laid off instantly, while others would be transferred temporarily to work on an airport project in Jeddah. "The Saudi construction sector is definitely soft. There's general uncertainty and it's very difficult to plan where to focus on because companies are not sure which projects will go ahead, said an industry source.

  • Egypt's Dubai envy won't save its economy

    EGYPT, 2015/04/06 Two weeks ago, while Israelis were debating which party's program was additional likely to solve the housing crisis, in Egypt, the government was unveiling a plan that makes Yair Lapid’s "zero-VAT" plan and Moshe Kahlon’s designs of wresting control over the Israel Lands Authority look like the work of munchkin apparatchiks with little vision and even less daring. The plan, unveiled by Egyptian Housing Minister Mostafa Madbouly at the Egypt Economic Development Conference, is to build a new capital in the desert east of Cairo, no less. And not just a capital, but one of superlatives. In 10 or so years, if the plans keep to schedule, the as from presently on unnamed city will home between five and seven million people on a 700-square kilometer site.

  • Work begins on final tunnel for Jerusalem-Tel Aviv link

    ISRAEL, 2015/04/04 Prime Minister Benjamin Netanyahu and Transportation Minister Yisrael Katz attended the inauguration Monday morning of the construction of a massive railway tunnel, part of a planned Jerusalem-Tel Aviv high-speed rail. The tunnel, the major underground passageway planned for the project and the last to be constructed, is to run from the area of the Sha’ar Hagai intersection on Route 1 to the Mevasseret Zion area, a distance — as the crow flies — of some 14-15 kilometers, or 8.5-9.3 miles. The ultimate goal of the project is to have high-speed rail from “Kiryat Shmona in the north to Eilat in the south” connecting the whole country, Netanyahu said at the ceremony, and added that “maybe, one day, these rails can connect to Jordan in the east, but that is still a far-off dream,” Channel 2 reported.

  • KAFD has "destroyed the office market in Riyadh," says Dar al Arkan boss

    SAUDI ARABIA, 2014/11/19 King Abdullah Financial District, the ambitious new business district containing 59 new towers in the north of the city, could have a devastating impact both on the price of existing prime office space in the Saudi capital and on the prospects for private sector development, according to the chairman of developer Dar Al Arkan. “Unfortunately, this project destroyed the office market in Riyadh – at least for the next 5-10 years,” Dar Al Arkan chairman Yousef Al Shelash said in an interview with Construction Week.

  • Arab Company Set To Redevelop Montenegro Beach

    MONTENEGRO, 2013/09/04 The Abu Dhabi-based Royal Group conglomerate is in the final stages of negotiations to acknowledge a transaction to buy what is popularly known as the Queen's Beach (Kraljicina plaza), which stretches between the towns of Budva and Bar, local media reported on Monday. The Royal Group is said to have been the only company to respond to the 2012 call for bids to purchase one of the country's most beautiful tourist sites.

  • Qatar the leading and fastest growing projects market in the world

    QATAR, 2013/02/13 Qatar has presently entered the next most critical phase of its preparations for the 2022 FIFA World Cup where a massive surge of contracts are expected for 2013 and 2014 across the country’s bustling projects market. At this stage, consultants and contractors are gearing up for tenders, busy preparing bids and eagerly awaiting award announcements which are likely to reach $25bn–$30bn a year, making Qatar the leading and fastest growing projects market in the world.
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