Highlights from the Q1 2022 report include:
- The total value of awarded contracts during the first quarter reached SAR46 billion ($12.3 billion), marking a 140 percent jump compared to last year. However, the value decreased by 35 percent compared to last quarter.
- The USSBC Contract Awards Index climbed to 212.31 points as the sector witnesses continued momentum, which has elevated the CAI above the 200-point mark in four consecutive months.
- The oil & gas sector registered the highest value of awarded contracts with approximately SAR15.1 billion ($4 billion). The real estate sector climbed to the second spot as the value of awarded contracts reached approximately SAR9.7 billion ($2.6 billion). The power sector continued its strong performance from 2021 to reach the third highest value with SAR6.9 billion ($1.8 billion) worth of awards.