Gulf Development Boom Redefines the Consulting Industry

The consulting market in the Gulf is undergoing rapid transformation, driven by rising expectations, intensifying competition, and the pursuit of long-term value (Asharq Al-Awsat). 
The consulting market in the Gulf is undergoing rapid transformation, driven by rising expectations, intensifying competition, and the pursuit of long-term value (Asharq Al-Awsat). 
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Gulf Development Boom Redefines the Consulting Industry

The consulting market in the Gulf is undergoing rapid transformation, driven by rising expectations, intensifying competition, and the pursuit of long-term value (Asharq Al-Awsat). 
The consulting market in the Gulf is undergoing rapid transformation, driven by rising expectations, intensifying competition, and the pursuit of long-term value (Asharq Al-Awsat). 

The rapid acceleration of development programs across the Gulf, powered by national visions and landmark mega-projects, is transforming not only the region’s economies but also the consulting industry that supports them.

As governments and companies pursue unprecedented scale and ambition, they are increasingly seeking advisory partners capable of delivering measurable impact, practical execution, and long-term capability building, rather than strategies that remain confined to paper.

Recent studies indicate that as investment levels rise and expectations intensify, the central challenge is no longer the formulation of bold strategies, but their translation into tangible economic and institutional outcomes.

This shift has reshaped the consulting landscape, raising the bar for performance at a time when traditional advisory models are no longer sufficient. Clients now demand integrated solutions that generate real change, embed knowledge, and create value that extends well beyond theoretical recommendations.

According to a study by Strategy&, obtained by Asharq Al-Awsat, governments and companies across the region are increasingly prioritizing multidisciplinary expertise that combines global perspective with deep local understanding. In this new environment, a consulting firm’s credibility is defined by its ability to convert recommendations into measurable, on-the-ground results.

Jad Hajj, Managing Director and Regional Leader of Strategy& Middle East, part of the PricewaterhouseCoopers network, said ambitious transformation agendas will remain central to the region’s future.

“What distinguishes the current phase is the growing emphasis on sustainable value,” he said. “Governments and private-sector companies are looking for partners who can deliver outcomes, integrate knowledge transfer across the value chain, and bring a deep understanding of local priorities.”

The sector’s growth has attracted a broader range of players, from specialized local firms and in-house advisory teams within government entities and corporations, to technology companies offering innovative consulting services. This diversification is reshaping the market and intensifying competition. “This environment compels all participants to clearly demonstrate the value they bring,” Hajj added.

Mega-Projects and Integrated Ecosystems

Mega-projects and economic diversification initiatives across the Gulf underscore the importance of value creation in this phase, as they reshape regional economies at scale. The central challenge lies in execution, ensuring that investments translate into lasting economic impact by building integrated ecosystems, strengthening institutional and industrial capabilities, and embedding technology and artificial intelligence to support long-term growth.

These dynamics are most evident in Saudi Arabia, the largest and fastest-growing consulting market in the Gulf. Flagship developments such as the Red Sea destination and Qiddiya continue to advance the Kingdom’s diversification agenda and drive transformation across multiple sectors.

This fast-evolving environment requires consulting firms to strengthen coordination during execution, apply rigorous performance measurement, and deliver targeted insights aligned with national priorities to maximize impact.

“We are experiencing a fundamental transformation across all sectors, and consulting is no exception,” Hajj stated, adding: “Clients now expect a seamless link between strategy and execution, which requires close collaboration with local partners and sustained capability building. At the same time, innovations such as artificial intelligence are reshaping delivery models and governance to ensure lasting results.”

Technology and Gulf Talent

Artificial intelligence sits at the center of the consulting sector’s evolution, offering both efficiency gains and structural change. Hajj noted that AI enables faster and deeper analysis, allowing consultants to devote more time to stakeholder engagement and long-term strategic design.

AI is also narrowing the gap between strategy and execution by overcoming scale and capability constraints and enabling firms to provide practical tools that help clients implement strategies and track outcomes. While AI enhances speed and quality, Hajj emphasized that critical judgment, accountability, and sector insight remain core human responsibilities.

Alongside technological change, firms are investing in local talent development to ensure sustainable impact. Strategy& has launched initiatives such as the 10-month “Qadat Program for Gulf Nationals,” aimed at equipping high-potential graduates with hands-on experience and leadership skills to support national visions.

A Rapidly Evolving Market

The Gulf consulting market is undergoing rapid change, driven by higher expectations, intensifying competition, and a growing focus on long-term value. Success is no longer measured by advice alone, but by the tangible outcomes delivered and the capabilities embedded within organizations after projects conclude.

Hajj underlined: “This region is redefining what it means to be a trusted advisor... Clients expect measurable results, capability building, and sustained engagement. While the journey continues, this is a pivotal moment to contribute meaningfully to the region’s long-term ambitions.”

 

 



Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
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Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)

Syria and Saudi Arabia signed deals Saturday that include a joint airline and a $1-billion project to develop telecommunications, officials said, as Syria seeks to rebuild after years of war.

The new authorities in Damascus have worked to attract investment and have signed major agreements with several companies and governments.

Syrian Investment Authority chief Talal al-Hilali announced a series of deals including "a low-cost Syrian-Saudi airline aimed at strengthening regional and international air links".

The agreement also includes the development of a new international airport in the northern city of Aleppo, and redeveloping the existing facility.

Hilali also announced an agreement for a project called SilkLink to develop Syria's "telecommunications infrastructure and digital connectivity".

Syrian Telecommunications Minister Abdulsalam Haykal told the signing ceremony that the project would be implemented "with an investment of around $1 billion".

For decades, Syria was unable to secure significant investments because of Assad-era sanctions.

But the United States fully removed its remaining sanctions on Damascus late last year, paving the way for the full return of investments.

Syria and Saudi Arabia also inked an agreement on water desalination and development cooperation on Saturday.

At the ceremony, Saudi Investment Minister Khalid Al-Falih announced the launch of an investment fund for "major projects in Syria with the participation of the (Saudi) private sector".

The deals are part of "building a strategic partnership" between the two countries, he said.

Syria's Hilali said the agreements targeted "vital sectors that impact people's lives and form essential pillars for rebuilding the Syrian economy".

Syria has begun the mammoth task of trying to rebuild its shattered infrastructure and economy.

In July last year, Riyadh signed investment and partnership deals with Damascus valued at $6.4 billion to help rebuild the country's infrastructure, telecommunications and other major sectors.

A month later, Syria signed agreements worth more than $14 billion, including investments in Damascus airport and other transport and real estate projects.

This week, Syria signed a preliminary deal with US energy giant Chevron and Qatari firm Power International to explore for oil and gas offshore.


India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
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India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)

Indian Prime Minister Narendra Modi on Saturday hailed an interim trade agreement with the United States, saying it would bolster global growth and deepen economic ties between the two countries.

The pact cuts US "reciprocal" duties on Indian products to 18 percent from 25 percent, and commits India to large purchases of US energy and industrial goods.

US President Donald Trump, while announcing the deal Tuesday, had said Modi promised to stop buying Russian oil over the war in Ukraine.

The deal eases months of tensions over India's oil purchases -- which Washington says fund a conflict it is trying to end -- and restores the close ties between Trump and the man he describes as "one of my greatest friends."

"Great news for India and USA!" Modi said on X on Saturday, praising US President Donald Trump's "personal commitment" to strengthening bilateral ties.

The agreement, he said, reflected "the growing depth, trust and dynamism" of their partnership.

Modi's remarks came hours after Trump issued an executive order scrapping an additional 25 percent levy imposed over New Delhi's purchases of Russian oil, in a step to implement the trade deal announced this week.

Modi, who has faced criticism at home about opening access of Indian agricultural markets to the United States and terms on oil imports, did not mention Russian oil in his statement.

"This framework will also strengthen resilient and trusted supply chains and contribute to global growth," he said.

It would also create fresh opportunities for Indian farmers, entrepreneurs and fishermen under the "Make in India" initiative.

In a separate statement, Commerce Minister Piyush Goyal said the pact would "open a $30 trillion market for Indian exporters".

Goyal also said the deal protects India's sensitive agricultural and dairy products, including maize, wheat, rice, soya, poultry and milk.

Other terms of the agreement include the removal of tariffs on certain aircraft and parts, according to a separate joint statement released Friday by the White House.

The statement added that India intends to purchase $500 billion of US energy products, aircraft and parts, precious metals, tech products and coking coal over the next five years.

The shift marks a significant reduction in US tariffs on Indian products, down from a rate of 50 percent late last year.

Washington and New Delhi are expected to sign a formal trade deal in March.


Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
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Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth

Gold rebounded on Friday and was set for a weekly gain, helped by bargain hunting, a slightly weaker dollar and lingering concerns over US-Iran talks in Oman, while silver recovered from a 1-1/2-month low.

Spot gold rose 3.1% to $4,916.98 per ounce by 09:31 a.m. ET (1431 GMT), recouping losses posted during a volatile Asia session that followed a fall of 3.9% on Thursday. Bullion was headed for a weekly gain of about 1.3%.

US gold futures for April delivery gained 1% to $4,939.70 per ounce.

The US dollar index fell 0.3%, making greenback-priced bullion cheaper for the overseas buyers.

"The gold market is seeing perceived bargain hunting from bullish traders," said Jim Wyckoff, senior analyst at Kitco Metals.

Iran and the US started high-stakes negotiations via Omani mediation on Friday to try to overcome sharp differences over Tehran's nuclear program.

Wyckoff said gold's rebound lacks momentum and the metal is unlikely to break records without a major geopolitical trigger.

Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.

Spot silver rose 5.3% to $74.98 an ounce after dipping below $65 earlier, but was still headed for its biggest weekly drop since 2011, down over 10.6%, following steep losses last week as well.

"What we're seeing in silver is huge speculation on the long side," said Wyckoff, adding that after years in a boom cycle, gold and silver now appear to be entering a typical commodity bust phase.

CME Group raised margin requirements for gold and silver futures for a third time in two weeks on Thursday to curb risks from heightened market volatility.

Spot platinum added 3.2% to $2,052 per ounce, while palladium gained 4.9% to $1,695.18. Both were down for the week.