
UAE tops GCC projects market in Q2 2025
A. SREENIVASA REDDY (ABU DHABI) The UAE has emerged as the top-performing projects market in the GCC region during Q2 2025, overtaking Saudi Arabia as the region's leading destination for project awards, according to the latest Kamco Invest report. The UAE's share of total GCC contract awards surged to 49.2% in Q2 2025, up from 38.9% a year earlier, despite a regional downturn in project activity.The total value of project awards in the UAE reached $14 billion during Q2 2025. The country maintained its lead in the region, having already overtaken Saudi Arabia in Q1 2025. For the first half of 2025, total contract awards in the UAE amounted to $44.4 billion, down 12.1% year-on-year — a relatively modest decline compared to the broader regional contraction.'This notable shift reflects the successful implementation of wide-ranging structural reforms and carefully targeted investments aimed at accelerating the country's economic diversification agenda,' the Kamco Invest quarterly report stated.Among sectors, the Gas Sector emerged as the most dominant, accounting for 37.6% of the UAE's total project awards during Q2 2025, with contracts valued at $5.3 billion. Although this marked a decline of $300 million compared to the same period last year, the Gas Sector retained the top spot, followed by the Construction Sector with $4.9 billion and the Transport Sector with $1.7 billion.In terms of growth, the Industrial Sector recorded a year-on-year increase of 35.8% in awarded contracts, while the Chemical Sector rebounded to $150 million in Q2 2025 from zero awards a year earlier.Key developments during the quarter included a $400 million, three-year contract awarded to ADNOC Gas to supply 0.7 million tonnes of LNG to Europe's SEFE (Securing Energy for Europe). ADNOC Gas also announced the final investment decision for the $5 billion Rich Gas Development Scheme. The first tranche, worth $2.8 billion, was awarded to UK-based Wood for the development of the Habshan facility, which is expected to generate $400 million in EPCm revenue for the contractor. The other two tranches, valued at $1.2 billion and $1.1 billion, were awarded to Petrofac for the Das Island liquefaction facility and Kent for the Asab and Bu Hasa facilities, respectively.
Despite the UAE's gains, the overall GCC projects market saw a sharp 58% decline year-on-year in Q2 2025, falling to $28.4 billion—the lowest in 14 quarters. The decline was led by a 72.5% plunge in Saudi Arabia's project awards, which stood at $9.8 billion during the period. For the full first half, total GCC project awards dropped 38.9% to $86 billion, compared to $140.7 billion in H1 2024.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The National
13 minutes ago
- The National
UK and Turkey set for Typhoon fighter jet deal
A major sale of Typhoon jets to Turkey is set to go ahead after an agreement was struck on Wednesday with the British government, and with Germany finally clearing objections to the deal. In the absence of an F-16 fighter export agreement with the US, Ankara will now progress with the purchase of up to 40 of the battle-proven aircraft that will be assembled in the UK. The move will also save the BAE Systems production line of Typhoons in Warton, Lancashire, that has been wound down with no further orders and its staff posted elsewhere. After two years of talks, UK Defence Secretary John Healey and Turkish Defence Minister Yaşar Guler signed a preliminary agreement on building the fighters, at the International Defence Industry Fair in Istanbul on Wednesday. Negotiations to finalise an arms deal will continue over the coming weeks, but the UK will hope to secure its first major export order for Typhoons since 2017. The highly capable fighter-bomber is flown by several Gulf states, with squadrons fielded by Saudi Arabia, Oman, Qatar and Bahrain and a total of about 700 Typhoons built to date. Mr Healey said the preliminary agreement was 'a big step towards Turkey buying UK Typhoon fighter jets' and that the jets would 'strengthen Nato's collective defence'. Charles Woodburn, chief executive of BAE Systems which assembles the aircraft, agreed that the move underscored the importance of co-operation in Nato and 'the critical role Typhoon plays in security and defence in Europe and the Middle East'. The RAF's Typhoon, regarded as an agile aircraft, has seen active service across the Middle East, primarily targeting ISIS during its insurgency in Syria and Iraq. It initially saw action during the 2011 bombing campaign in Libya and is capable of carrying several ground attack weapons including the Storm Shadow cruise and Brimstone precision missiles. The Turkey deal, which could be worth $5.6 billion, had been held up by the previous German government's reluctance to approve export licences, allegedly for political reasons following Ankara's treatment of opposition figures. But Chancellor Friedrich Merz's new government had cleared the way for it following a positive decision by the federal security council earlier this week. Further progress had been made after British Prime Minister Keir Starmer held a phone call with Turkish President Recep Tayyip Erdogan on Tuesday, which Turkish government officials said had gone positively. After the announcement of Wednesday's preliminary agreement, Mr Starmer said that 'signing a multibillion export deal with Turkey' will sustain 20,000 UK jobs as well as 'keep us and our allies safer during these uncertain times'. Mr Erdogan said developments in the defence sector would positively contribute to co-operation between the sides, who are both Nato members. A defence industry source told The Nationa l that while staff had been allocated elsewhere from the Warton site, BAE had 'been in this position before' when orders had dried up and it would be straightforward to stand up the production line again if the Turkey deal succeeded. The UK Ministry of Defence also said the potential Typhoon exports would strengthen Turkey's 'advanced combat capabilities'. As the second-largest military force in the Nato alliance, the addition of 40 highly capable fighter jets will provide Turkey with an important upgrade to its air force. The $110 million warplanes are built by a consortium of Germany, Britain, Italy and Spain, represented by Airbus, BAE Systems and Leonardo, with the main production line in the UK.


Zawya
43 minutes ago
- Zawya
Mace Group announces majority investment in Mace Consult from Goldman Sachs Alternatives
Mace Group has announced a majority investment in Mace Consult by Private Equity at Goldman Sachs Alternatives through a carve-out from Mace Group. The new partnership will support Mace Consult's ambition to become the world's leading programme management consultant as an independent business. Mace Consult is a critical delivery partner for the world's most complex and marquee infrastructure and built environment projects, including the Hudson Tunnel Project in New York, Qiddiya in Saudi Arabia and the New Hospitals Programme in the UK. Mace Consult generated AED 3.4bn (£687m) of revenue in 2024 and employs more than 5,200 people across four global hubs: Europe, the Americas, Asia Pacific and the Middle East and Africa. Davendra Dabasia will continue to lead Mace Consult as CEO of the independent business. Over the last three decades, Mace Consult's expert teams have advised clients on the development and delivery of iconic programmes around the world; from global mega-events such as the London 2012 Olympic and Paralympic Games and Expo 2020 Dubai, to multi-billion dollar infrastructure investments such as the GO Expansion rail programme in Canada and the Reconstruction with Changes in Peru. A number of Mace Group's shareholders, including Executive Chair Mark Reynolds and Mace Group CEO Jason Millett, will retain a minority stake in Mace Consult and will work closely with Goldman Sachs Alternatives as members of the new Mace Consult Board. Mark Reynolds will be appointed Chair. Building on over a decade of sustained double-digit organic growth and an expansion into delivering major programmes across the Americas, Europe, Asia Pacific and the Middle East and Africa, the new partnership will see Mace Consult target strategic acquisitions to bolster its presence in key growth markets. Mark Reynolds, Mace Group's Executive Chair, said: 'This transaction is a key milestone in securing the long-term future of Mace Consult, enabling the next phase of growth for our global consultancy practice. The shareholders, the board and I are extremely proud of the progress we've made collectively to achieve this outcome. 'Since 1990, and accelerating since the success of the London 2012 Olympics, Mace Consult has transformed the industries it serves, delivering to exceptional standards and redefining the boundaries of ambition. We have established a foundation to enable the business to flourish for decades to come.' Jose Barreto, Partner within Private Equity at Goldman Sachs Alternatives, added: 'We are delighted to invest in Mace Consult and accelerate its growth trajectory as an independent business both organically and through strategic acquisitions. Through the global Goldman Sachs network and value acceleration resources, we see the potential to support Mace in delivering critical client outcomes during this period of heightened uncertainty and transformation.' Davendra Dabasia, Mace Consult's CEO, said: 'I am excited to lead Mace Consult on this next stage in our journey, working in close partnership with Goldman Sachs Alternatives. Our teams around the world have delivered exceptional growth over the past few years, and our new partnership will enable us to build on that to become the world's leading delivery consultant. 'As a standalone business, we will be positioned to further support our global infrastructure and built environment clients by scaling up at pace in North America and enhancing our digital solution delivery for clients.' Alex Mass, Managing Director within Private Equity at Goldman Sachs Alternatives, added: 'The long-dated trends of climate change, technological disruption, demographic shifts and urbanisation represent one of the fundamental project delivery challenges in history, requiring innovative management approaches, as demonstrated by Mace Consult over the years. 'As an independent business, Mace Consult is distinctly positioned to support clients in unlocking the full potential of every project around the world - and we are proud to support the employees of Mace Consult in this journey.' Mace Group was advised by UBS (M&A) and Linklaters (Legal). Goldman Sachs Alternatives was advised by Lazard (M&A and Financing), Jefferies International Limited (M&A) and White & Case (Legal). The transaction is subject to regulatory approvals (amongst other conditions) and is expected to close in 2025.


Sharjah 24
an hour ago
- Sharjah 24
EPA secures Observer Status at WIPO's 66th General Assembly
The meetings saw participation from representatives of member states and intellectual property organisations worldwide. This recognition enables the Emirates Publishers Association to participate in the meetings of WIPO's member state assemblies, as well as the unions it oversees. Additionally, it provides the Association with the opportunity to participate in relevant committees, working groups, and subsidiary bodies, enabling it to actively contribute to global discussions and the development of policies related to publishing and intellectual property rights. Joining WIPO as an Observer marks a turning point for the Emirates Publishers Association and for Arab publishing as a whole In her comments on this achievement, Sheikha Bodour bint Sultan Al Qasimi, Founder and Honorary President of the Emirates Publishers Association, said: 'Joining WIPO as an Observer marks a turning point for the Emirates Publishers Association and for Arab publishing as a whole. It ensures that the voices of our publishers and creators are heard in the global conversations on intellectual property and it reinforces our commitment to protecting creative rights while promoting access, innovation, and cultural diversity.' A significant milestone in its journey to empower publishers on the global stage His Excellency Rashid Al Kous, Executive Director of the Emirates Publishers Association, expressed his pride in the accreditation, emphasising that the Association's observer status with the World Intellectual Property Organisation (WIPO) marks a significant milestone in its journey to empower publishers on the global stage and further solidify the UAE's position as a regional hub for publishing and creativity. He added: 'The observer status will help us strengthen copyright protection and open new opportunities for local publishers to expand their scope for collaboration and knowledge exchange. We are committed to amplifying the UAE's voice on all issues related to the publishing industry and intellectual property rights, contributing to the development of these frameworks both regionally and globally, with a focus on fostering the future of creativity and content production.' This achievement represents a significant milestone in the Emirates Publishers Association's ongoing efforts to advocate for the publishing sector both locally and regionally. It underscores the association's commitment to providing professional support to UAE-based publishing houses in various Arab and international cultural forums. This recognition also coincides with the Association's ongoing efforts to refine the publishing framework within the UAE, enhance governing laws, and broaden legal protections for creative content. With a membership of over 360 UAE-based publishing houses, the Association works tirelessly to advance the publishing profession, promote a culture of reading, and support initiatives that encourage literacy and broaden access to knowledge. By joining WIPO, the Association takes an important step towards expanding its global influence and actively contributing to the development of a sustainable future for the creative sector in both the UAE and the broader Arab world.