Region tackles multi-trillion infrastructure challenge; Riyadh pushes ahead with Vision 2030 goals; GCC leads hospitality expansion efforts
The Middle East and North Africa (Mena) region is facing a massive infrastructure gap that will require an estimated $2tn-$2.5tn in investment by 2050.
In the latest issue of MEED Business Review, we discover how investment, technology and governance must all come together if governments are to successfully address this shortfall.
We also look at the important role that sustainable construction practices will play as the region strives to tackle the infrastructure deficit, potentially cutting emissions from planned projects in the Gulf by as much as 60%.
Meanwhile, this month’s exclusive 18-page market report highlights Saudi Arabia, which is maintaining a laser focus on its Vision 2030 economic diversification strategy as it gears up for the delivery of its gigaprojects. Regional tensions such as the war in Gaza and the escalating conflict in the Red Sea are not distracting Riyadh from its upstream and downstream oil and gas projects, power and water sector spending and transport infrastructure development.
MEED’s latest issue is also packed with insight and analysis. The team examines Egypt’s plans for the $54bn of
financial assistance that Cairo has recently secured; considers the impact that Iran’s $20bn project to boost production from the offshore South Pars gas field will have on the country’s energy security; and reveals the details of the new Vision 2030 strategy announced for the UAE’s northern emirate of Ajman, which will guide the development of its projects for the rest of
this decade.
In this month’s industry report on tourism, we see that tourist arrivals are on the rise in the GCC, with Dubai attracting 17.15 million international overnight visitors in 2023. A strong post-Covid recovery is under way in the travel sector across the region, and Saudi Arabia’s efforts to boost its appeal as a tourism destination are reaping rewards: the kingdom welcomed more than 100 million visitors last year, achieving its 2030 goal seven years early. To support and build on this success, there is a pipeline of $54bn-worth of new hotel and resort projects planned for the Mena region and due for delivery by 2030.
The April issue also includes an interview with Ibrahim Waili of the Oman National Spatial Strategy, in which he discusses the sultanate’s plans to build a year-round global mountain destination on Jebel Al Akhdar in the Hajar Mountains. We also talk to John van der Velden of Linde Engineering about the regional oil and gas sector’s increasing reliance on new technologies.
We hope our valued subscribers enjoy the April 2024 issue of MEED Business Review.
Must-read sections in the April 2024 issue of MEED Business Review include:
> CURRENT AFFAIRS: Cairo secures a cumulative $54bn in financing; The stakes are high for Iran’s planned gas projects
> INTERVIEWS: Oman plans year-round global mountain destination; Process technology adoption is poised for growth
> AJMAN 2030: Ajman launches 2030 vision
> INSIGHT: Pressure builds for region’s green hydrogen projects; Red Sea crisis raises Saudi construction costs
> LEADERSHIP: Region must rethink talent acquisition
> SAUDI ARABIA MARKET REPORT:
> Riyadh maintains Vision 2030 focus
> Saudi Arabia seeks diversification amid regional tensions
> Saudi lenders gear up for corporate growth
> Aramco spending drawdown to jolt oil projects
> Master Gas System spending stimulates Saudi downstream sector
> Riyadh to sustain power spending
> Growth inevitable for the Saudi water sector
> Saudi gigaprojects propel construction sector
> Saudi Arabia’s transport sector offers prospects
> MEED COMMENTS:
> Dubai reshuffles real estate when market is buoyant
> Red Sea crisis makes case for Saudi Landbridge
> Oman gives renewables a serious shot
> Saudi Arabia pivots to ESG-friendly tech
> GULF PROJECTS INDEX: UAE and Qatar drive projects growth
> FEBRUARY 2024 CONTRACTS: Region sees drop in project awards in February
> MARKET SNAPSHOT: Top airport projects
> OPINION: New shock treatment for Egypt’s economy
> BUSINESS OUTLOOK: Finance, oil and gas, construction, power and water contracts
Prime Minister Andy Burnham said: "Nobody should be left to struggle with their mental health…
Iran says it has reached an agreement with Oman on a route for shipping through…
One person has been killed in an Israeli strike in southern Lebanon, the country's health…
In a statement, Türk urged Iranian authorities to halt all executions and move toward the…
The latest Russian attacks mark an increasingly deadly escalation in the ongoing war, with July…
“I am alarmed by the rise in executions and death sentences issued in Iran since…