Learn the MEED Enterprise Assessment of October 2023

Now that work on the greater than 1,000-meter-high Jeddah Tower is getting again on observe, Saudi Arabia plans steal the title of the world’s tallest tower from Dubai.

It was a milestone for Saudi Arabia’s development trade in mid-September when Jeddah Financial Firm invited corporations to bid for a contract to finish the world’s tallest tower challenge.

Work on the tower is in full swing once more [swing],” a supply near the challenge advised MEED.

When accomplished, the Jeddah Tower would be the first construction in historical past to be greater than 1 kilometer excessive. The constructing, designed with 170 flooring, will tower over 172 meters larger than the Burj Khalifa in Dubai and can put Saudi Arabia firmly within the highlight.

MEED editor Colin Foreman affords unique particulars on the dominion’s tall tower plans within the final challenge of MEED firm assessment.

He additionally feedback on why Saudi Arabia will do that escape the financial curse of record-breaking towers.

Unique for this month Market report of 21 pages can be focusing on Saudi Arabia, whereas Riyadh is appearing on a number of fronts to broaden its international affect, from worldwide sports activities investments to cultivating geopolitical delicate energy.

MEED’s newest challenge is filled with evaluation on matters like constructing the the world’s largest metropolis park, tunnelingthe GCC railway challenge, be part of Brics and the challenge shapes the way forward for Dubai.

MEED additionally interviewed specialists from the market, together with Martin Boson of Parsons And François-Xavier Boul from Engie.

Within the meantime, this month’s sector report presents MEED’s annual vitality developer rankings, full with rankings and evaluation.

We hope our valued subscribers will get pleasure from it October MEED Enterprise Assessment, 2023 Version.

Should-read sections within the October MEED Enterprise Assessment, 2023 Version Involving:

> AGENDA: Saudi Arabia’s Jeddah Tower reaches new heights

> SKYSCRAPERS: Prime 10 tallest towers within the area

> PLANS FOR HIGH TOWER: Saudi Arabia is making an attempt to flee the financial curse of record-breaking towers

> CURRENT AFFAIRS: Brics is tipping the steadiness between regional pursuits

> RAIL: Dangers stay for the GCC rail challenge

> KING SALMAN PARK: Riyadh is constructing the world’s largest city park

INDUSTRY REPORT: MEED’s 2023 vitality developer rating The hole between Saudi utility developer Acwa Energy and the opposite non-public utilities within the GCC area has been widening. Nonetheless, France’s Engie has a marginal gross capability lead over Acwa Energy when PIF renewable vitality contracts are excluded. > The evolving panorama provides Acwa Energy an edge > Power charges could be improved

> TUNNELS: Tunnel initiatives come to the fore

> INTERVIEW: Martin Boson from Parsons on long-term alternatives within the Saudi market

> DUBAI PROJECTS: Ten initiatives that may form the way forward for Dubai

> GIANT PROJECTS: Saudi Arabia gigaprojects tracker

> INTERVIEW: Engie is staging a GCC renewable vitality comeback

> OIL: Improvement of Dorra discipline may cause tensions

> SAUDI ARABIA MARKET FOCUS:

> REMARK: Riyadh is reshaping its international position

> POLITICS: Saudi Arabia appears to be like each east and west

> SPORT: Saudi Arabia’s soccer imaginative and prescient goes international

> ECONOMY: Riyadh is prioritizing stability over general progress

> BANKS: Saudi banks are following a extra modest progress path

> UPSTREAM: Aramco focuses on upstream capability constructing

> DOWNSTREAM: Saudi chemical and downstream initiatives in progress

> CURRENT: Riyadh is benefiting from the surge in vitality initiatives

> WATER: The momentum of Saudi water initiatives stays regular

> GIANT PROJECTS: The Gigaproject exercise is in full swing

> TRANSPORT: Infrastructure initiatives help Riyadh’s logistics ambitions

> MEED COMMENTS:

> iraq approval may result in Exxon’s exit

> McDermott monetary restructuring is crucial
> Area turns into hotspot for battery storage
> Kuwaiti wastewater initiatives preserve tempo

> GULF PROJECTS INDEX: The Golf index rises by 2 % in September

> AUGUST 2023 CONTRACTS: Area information $14 billion in signed offers

> MARKET SNAPSHOT: Mena oil and fuel

> OPINION: Area on the event of the golden jubilee of the 1973 conflict

> BUSINESS OUTLOOK: Contracts for finance, oil and fuel, development, electrical energy and water