Gulf construction remains resilient despite the Middle East conflict, but real estate developers are beginning to feel the impact as weaker investor sentiment and slowing sales weigh on the sector, S&P Global Ratings said.
The UAE's construction sector is moving beyond rapid expansion, with developers increasingly focused on project execution, sustainability and regulatory compliance, as construction output is forecast to reach $130.8 billion within the next three years, according to a report.
Italian construction giant Webuild has announced that operations have begun at a new water treatment facility built by one of its subsidiaries for oil giant Aramco’s offshore Zuluf oilfield in eastern Saudi Arabia. At full capacity, the new plant will be able to treat 185,000 cu m of water per day.
Residential developers are under mounting pressure to meet evolving buyer expectations and stricter sustainability standards while delivering long-term value. As the global construction industry is set to hit $16.1 trillion by 2030, high-performance homes are emerging as a key solution, said an industry expert.
Singapore-based Meranti Green Steel said it has awarded a major FEED contract to a consortium of German group SMS and global direct reduction (DR) technology leader Midrex for its green iron facility at Duqm, Oman, with a planned capacity of 2.5 million tonnes per annum.
Bahrain is accelerating the redevelopment of Muharraq, rolling out infrastructure and public space upgrades as part of a wider strategy to revitalise one of the kingdom's most historic cities. The scope of work includes road development as well as upgrade of stormwater drainage and utility networks.
Nemetschek, a global leader in construction artificial intelligence, has launched its AI-powered Bluebeam Max software across the Middle East region, targeting growing demand for digital tools in the region's architecture, engineering, construction and operations (AEC/O) sector.
Bahrain-based Nasser Centre for Science and Technology said it has developed an AI-powered construction inspection intelligence platform in collaboration with China Machinery Engineering Corporation (CMEC), a global expert in infrastructure and construction projects.
Global engineering solutions provider Kent has strengthened its footprint in Saudi Arabia after securing long-term agreements and project management consultancy (PMC) contracts with Saudi oil giant Aramco, positioning the company for future brownfield EPC work in the kingdom.
The Sustainable City – Yiti, an integrated urban mixed-use project being set up in Muscat, has achieved a major construction milestone by clocking over 25 million safe working hours without a Lost Time Injury (LTI), as construction continues to progress across Oman’s flagship sustainable development.
