MARKET INSIGHT M
any countries in the Middle East and North Africa (MENA) rely heavily on finite natural
resources like oil and gas, while lacking a large manufacturing base. Although current oil and gas prices are high, long-term trends suggest a potential decline, prompting regional efforts to diversify economic capabilities. Saudi
Arabia and Oman are at the forefront of this transformation, together accounting for 44.8% of the region’s industrial project pipeline. Oman’s Vision 2040 initiative targets a significant expansion of the country’s industrial zones and a more robust manufacturing base, from 11 to 16 by 2040. Saudi Arabia is also pursuing industrial development as
MENA – Industrial construction project pipeline Value by stage ($ millions)
part of its efforts to position itself as a global hub for critical minerals and mining by 2030, announcing in January 2025 a $100bn minerals project with $20bn already in advanced stages. Additionally, the country launched a $2.7bn industrial incentives programme to support various manufacturing ventures.
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000 Pre-planning Planning Pre-execution Execution
MENA – Industrial construction project pipeline Value by stage and country ($ millions)
Saudi Arabia Morocco Egypt Oman UAE
Algeria Iran Jordan Iraq Qatar
0 20,000 40,000 60,000 80,000 100,000 Pre-planning Planning Pre-execution Execution
MENA – Industrial construction project pipeline By country and stage ($ millions)
Country
Saudi Arabia Morocco Egypt Oman UAE
Algeria Iran
Jordan Iraq
Qatar Total (including others) 42 | May 2025 |
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Pre-planning 4,862
32,531 10,950 15,957 5,690 0 0
1,500 0
1,000 72,560
Planning 38,261 13,330 70,624 14,080 10,419 12,100 2,700 285 950
1,090 164,541
Pre-execution 9,007
44,469 5,356
45,867 4,226 1,761 0
730
1,038 200
113,219
Execution 73,107 2,095 3,556 4,063 5,514 9,491 7,687 253 773 0
108,201 Total
125,237 92,425 90,486 79,967 25,849 23,352 10,387 2,768 2,761 2,290
458,521 120,000 140,000
450,000
500,000
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