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Sabah Barakat takes over New Murabba as Mukaab plans advance
New Murabba names Sabah Barakat as acting CEO replacing Michael Dyke.
The gigaproject slowdown is real and persisting through 1H
The regional conflict is pulling tens of bns of USD toward defense, and gigaproject budgets are feeling the squeeze
Neom quietly moves on from The Line’s original vision
References to housing 9 mn people and operating without roads or cars no longer appear in the description
Shelved gigaprojects + regional conflict weigh on 1Q 2026 Saudi project contract awards
The downturn was led by construction, with awards dropping more than 60%
War jitters hit Saudi tenders as March awards slump
Only 25 major contracts worth USD 11.8 bn were awarded during the month
Neom terminates multi-bn USD Trojena lake contracts
Construction at the USD 19 bn resort stalls at 30% completion following the loss of the 2029 Asian Winter Games…
Saudi is gunning for holidaymakers over pilgrims in its tourism revamp
Luxury giga-projects anchor a strategy to attract repeat holidaymakers, but some market reforms are still needed
Pole position ceded
The downturn was driven by a 68% y-o-y drop in the last quarter of the year
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