GCC Mega Projects
With over $1tn worth of mega construction projects in the GCC, either planned or under construction, the region is not short of construction activities and potential opportunities for the near future. There has been a slowdown of new mega projects being announced since 2019 due to fall in oil prices and the corona virus pandemic. However, the mega projects announced in the last few years present a wide array of opportunities to the industry participants especially in the Buildings, Manufacturing and Infrastructure sectors. These massive developments will create significantly advanced tourist attractions, residential and mixed-use areas, sports and entertainment venues, educational, financial and healthcare facilities. Utility projects remain a priority for the region. Even with lower Oil prices, Oil and Gas sector is still attractive with many projects in FEED Stage and EPC Bidding Stage and more fields being developed. We saw new projects announced since beginning of 2021 – Masaar in Sharjah,UAE; Future City in Riyadh, Saudi Arabia; Furjan Wadi Lusail in Qatar to name a few.
The below is a list of 24 Mega Projects handpicked by Ventures ONSITE which will keep the construction industry in the GCC region active in the near future. The projects are either in the pre-execution stage with construction expected to commence later this year or in the early construction stages.