Saudi firms lead among Arab contractors in the Mena market, while Chinese contractors continue to dominate among active international contractors, overtaking South Korean
and Italian firms
Key points:
> OVERVIEW: Saudi Arabia is by far the largest projects market in the Middle East and North Africa (Mena) region thanks to its five official gigaprojects. Egypt and the UAE are next with over $85bn of projects under execution across all sectors.
> TOP INTERNATIONAL CONTRACTORS: India’s Larsen & Toubro followed by Italy’s Saipem and China State Construction Engineering Corporation are the top three international contractors in the Mena region in terms of work in execution. Chinese firms have won 28 per cent of projects under way among non-Arab contractors.
> TOP ARAB CONTRACTORS: Orascom, The Arab Contractors and Nesma & Partners are the top three Arab contractors with Mena projects in execution. Saudi firms have won 30 per cent of projects under way among Arab contractors, followed by Egyptian (22 per cent) and UAE (21 per cent) companies.
MEED’s April 2023 special report on Saudi Arabia includes:
> ECONOMY: Riyadh steps up the Vision 2030 tempo
> CONSTRUCTION: Saudi construction project ramp-up accelerates
> UPSTREAM: Aramco slated to escalate upstream spending
> DOWNSTREAM: Petchems ambitions define Saudi downstream
> POWER: Saudi Arabia reinvigorates power sector
> WATER: Saudi water begins next growth phase
> BANKING: Saudi banks bid to keep ahead of the pack
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