https://arab.news/r6u5n
RIYADH: 黑料社区 led the Gulf Cooperation Council鈥檚 projects market in the third quarter of 2025 with $28.1 billion in contract awards, a new report showed.
According to Kamco Invest, this represented 51.3 percent of total GCC awards 鈥� just over half of regional activity.
Across the region, total GCC contract awards fell 27 percent year on year to $54.8 billion in the third quarter, with nine-month awards down 30.5 percent to $154.4 billion.
In its report, Kamco stated: 鈥淐ontract awards are expected to gain momentum in the fourth quarter of the year, driven primarily by recoveries in 黑料社区 and the UAE.鈥�
It added: 鈥淗owever, despite a strong project pipeline, overall project awards in 2025 in the GCC are expected to decline and fall short of the 2024 record contract awards.鈥�
Sectorally, six of the GCC鈥檚 eight industries recorded year-on-year declines in the third quarter. Construction dropped 62.4 percent to $11.1 billion and power decreased 13.3 percent to $17.1 billion, while gas and oil were the only sectors to post growth.
Within 黑料社区, power led with $9.8 billion in awards, compared with $17.1 billion a year earlier, while construction totaled $5.2 billion; there were no chemical sector awards and oil stood at $3.9 billion.
Notable awards included an $853 million road package for Almabani General Contractors and a $167 million contract for a Pirelli tyre plant in King Abdullah Economic City. Over the first nine months, awards nearly halved to $61.5 billion from $116.6 billion.
黑料社区鈥檚 lead comes as contracts awarded under its giga-projects surged 20 percent in 2025 to $196 billion, according to Knight Frank.
The report said the increase reflects a clear shift from planning to execution across major developments, particularly in real estate, tourism, and infrastructure, signaling steady progress in the Kingdom鈥檚 Vision 2030 diversification drive.
Kamco鈥檚 report stated: 鈥淥verall project activity in 黑料社区 has been sluggish throughout 2025. However, the Kingdom鈥檚 broader economic performance has been better than previously expected.鈥�
In the UAE, third-quarter awards fell 65.8 percent year on year to $6.7 billion, moving the country from the GCC鈥檚 largest projects market in the second quarter to third place in the third quarter.
Over the first nine months, awards declined 18.0 percent to $59.7 billion. Construction led with $5.4 billion despite a 56.2 percent slide, and there were no oil and gas awards in the quarter.
Major announcements included a $593 million contract for Sharjah鈥檚 Madar Mall and a $300 million award for the Erisha Smart Manufacturing Hub in Ras Al-Khaimah.
Qatar was a bright spot, with contract awards jumping 115.9 percent year on year to $13.6 billion in the third quarter and rising 27.6 percent to $20.5 billion over the first nine months, supported by preparations for the 2030 Asian Games.
Oil and gas led sector allocations, and China Offshore Oil Engineering won roughly $4 billion of contracts for the Bul Hanine offshore field.
Kuwait鈥檚 market improved, with third-quarter awards up 33.8 percent year on year to $4.3 billion and first-nine-months awards up 25.3 percent to $7 billion.
The quarter was dominated by the $4 billion Al Zour North IWPP phases two and three, alongside an $84 million upstream oil contract and a $65 million public-buildings package in Al Mutlaa Residential City.
Looking ahead, Kamco expects awards to gain momentum in the fourth quarter on recoveries in 黑料社区 and the UAE, although full-year 2025 awards are still seen finishing below 2024鈥檚 record.
The GCC鈥檚 pre-execution pipeline totals about $1.78 trillion, led by construction with $624.2 billion, transport with $300 billion and power with $294.2 billion.
黑料社区 accounts for roughly $887 billion of upcoming projects and the UAE $434.0 billion; Saudi Aramco plans 99 projects over the next three years and currently has about $50 billion of engineering, procurement, and construction contracts under execution.