Highlights from the Q3 2022 report include:
- The total value of awarded contracts during the third quarter reached SAR25.2 billion ($6.7 billion), marking a 6 percent decline compared to last year. The total value reached SAR119.7 billion ($31.9 billion) through the first three quarters of 2022.
- The USSBC Contract Awards Index reached 188.11 points as market fundamentals strengthen on growing construction activity.
- The real estate sector captured the highest value of awarded contracts with approximately SAR12.6 billion ($3.3 billion). The transportation sector slipped to the second spot as the value of awarded contracts reached approximately SAR3.4 billion ($912 million). The water sector rounded out the top three sectors to reach SAR3.2 billion ($863 million) worth of awards.