Highlights from the Q1 2023 report include:
- The total value of awarded contracts continued unabated during the first quarter, reaching SAR67 billion ($17.7 billion), marking a 41 percent jump compared to last year. However, the value decreased by 7 percent compared to last quarter.
- The USSBC Contract Awards Index climbed to 270.15 points as the sector witnesses continued momentum, which has elevated the CAI above the 200-point mark for six consecutive months.
- The transportation sector registered the highest value of awarded contracts with approximately SAR18 billion ($4.8 billion). The real estate sector climbed to the second spot as the value of awarded contracts reached approximately SAR16 billion ($4.2 billion). The water sector surged to reach the third highest value with approximately SAR10 billion ($2.6 billion) worth of awards.