Highlights from the Q1 2021 report include:
- The total value of awarded contracts during the first quarter reached SAR19.2 billion ($5.1 billion), marking a 58 percent decline compared to last year. Conversely, the value increased by 20 percent compared to last quarter.
- The USSBC Contract Awards Index declined to 92.3 points as the construction sector continues to face financial and budgetary constraints, which has kept the Index below the 100 point threshold.
- The power sector registered the highest value of awarded contracts with approximately SAR5.2 billion ($1.4 billion). The real estate sector ended in the second spot as the value of awarded contracts reached approximately SAR4.3 billion ($1.1 billion). The oil & gas sector garnered the third highest value with SAR3.9 billion ($1 billion) worth of awards.