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Gulf project contracts reach $139B in H1
Gulf countries experienced a significant recovery in investment activity during the first half of 2026, with the value of awarded contracts for projects rising by 23% year over year to approximately $139 billion, according to a report by Standard Chartered Bank. After a period of decline following the outbreak of Iran’s war, investment has begun to return to pre-conflict levels, with notable improvements in real spending on projects, especially in infrastructure, technology, and logistics sectors. Saudi Arabia led this recovery, with the value of awarded contracts increasing by 54% in the second quarter to around $30 billion, while the UAE recorded the highest total contract value at $67.7 billion. The continued awarding of contracts despite geopolitical risks reflects the governments' and sovereign funds’ commitment to diversifying their economies and reducing dependence on oil.
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