A. SREENIVASA REDDY (ABU DHABI)
The UAE remained the second-largest projects market in the GCC in the third quarter of 2026, with the value of contracts awarded reaching $15.6 billion. Saudi Arabia remained the largest market with total project awards of $24.4 billion.
According to data compiled by MEED Projects and cited by Kamco Invest, there are currently $2.05 trillion in planned and unawarded projects across the GCC, of which the UAE accounts for 26.4%, second only to Saudi Arabia’s 49.7% share.
The UAE accounted for 33% of the total value of projects awarded across the GCC during the third quarter.
From a sectoral perspective, gas accounted for the largest share of new project awards in the UAE during the quarter, with contracts worth $6.2 billion, representing nearly 40% of the country’s total awards.
Construction followed with $5 billion in contracts, while transport projects accounted for $2.076 billion. Oil-sector awards stood at $850 million, industrial projects at $760 million, water at $599 million and power at $155 million.
Among the largest gas projects awarded during the quarter was ADNOC’s $1 billion Umm Shaif Gas Cap and Surface Pressure Boosting Phase 1, Package 4 contract.
The contract formed part of $6.2 billion in contracts awarded by ADNOC and its foreign partners during the quarter, according to the report.
The report also highlighted a $158 million contract for the RTA Dubai Al-Meydan Street Development. The project covers development of First Al-Khail Street, through Al-Khail Road, to Muscat Street. Its scope also includes converting the signalised Al Meydan Street-Muscat Street intersection into a multi-level, grade-separated interchange providing free-flow movement in all directions.
Another major project awarded during the quarter was the $150 million Dubai Peninsula development, which comprises luxury residential, hotel and retail components.
Looking ahead, the UAE has about $542.8 billion in planned and unawarded projects, based on MEED Projects data presented in the report. Saudi Arabia has about $1.02 trillion, while the remaining GCC markets account for smaller shares of the pipeline.