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MEED Report: GCC Projects Market Performance H1 August 2025

MEED Report: GCC Projects Market Performance H1 2025

As of June 30, contracts worth $93.6 billion were awarded in the GCC in the first half of the year, marking a 19% decline from H1 2024 due to slowed spending on Saudi giga projects and reduced overall expenditure in the region. In H1 2025, Saudi Arabia saw contract awards decline 56% compared to H1 2024. In contrast, the UAE performed well with only a 4% decline.

Value of GCC contracts awarded by sector, 2020-H12025:

By sector, the largest declines were in oil and construction, with decreases of 66% and 40%, respectively, compared to H1 2024. The chemical sector, however, saw a significant increase, driven by two major contract awards in the UAE.

There are some $300 billion in contracts either tendered or under evaluation, with nearly half in Saudi Arabia. Despite a strong project pipeline, 2025 is expected to fall short of 2024’s record contract awards, as the first half of 2025 only reached one-third of last year’s total.

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