Abu Dhabi, UAE - The UAE awarded $15.6 billion worth of projects in the third quarter of 2026, maintaining its position as the second-largest projects market in the GCC during the period.
Saudi Arabia remained the region’s largest market, recording $24.4 billion in project awards during the quarter.
The UAE accounted for around 33% of the total value of GCC project awards in Q3, according to project-market data compiled by MEED Projects and cited in a Kamco Invest report.
Activity was led by the gas sector, where contracts worth approximately $6.2 billion were awarded during the quarter, representing close to 40% of the UAE total.
Construction was the second-largest sector with $5 billion in awards, followed by transport at $2.076 billion.
Other sectors also recorded new contracts, including $850 million in oil projects, $760 million in industrial developments, $599 million in water projects and $155 million in power infrastructure.
Among the largest energy contracts recorded during the period was ADNOC’s $1 billion Umm Shaif Gas Cap and Surface Pressure Boosting Phase 1, Package 4 project.
The wider report indicated that ADNOC and its foreign partners accounted for approximately $6.2 billion in contract awards during the quarter.
Transport infrastructure also contributed to overall activity.
One of the major awards was a $158 million contract for Dubai’s Al Meydan Street development, covering works from First Al Khail Street through Al Khail Road to Muscat Street.
The project also includes converting the Al Meydan Street–Muscat Street signalised junction into a multi-level grade-separated interchange designed to provide free-flow traffic movements in all directions. Real estate development remained part of the quarterly award mix as well.
A $150 million contract for the Dubai Peninsula development was highlighted among the larger awards, with the project planned to include luxury residential, hospitality and retail components.
Beyond contracts already awarded, the UAE continues to hold one of the GCC’s largest future project pipelines.
The country has approximately $542.8 billion in planned and unawarded projects, representing around 26.4% of the GCC’s $2.05 trillion pipeline.
Saudi Arabia accounts for the largest share, with approximately $1.02 trillion, equivalent to 49.7% of the regional total.
The scale of the UAE pipeline, together with the level of contract activity recorded during the third quarter, indicates continued demand across energy, construction, transport and infrastructure as the country advances major development programmes.
