Highlights from the Q1 2024 report include:
- The total value of awarded contracts soared during the first quarter, reaching SAR118.8 billion ($31.7 billion), marking a 79 percent jump compared to last year. On a QoQ basis, the value of contracts grew by 35 percent.
- The USSBC Contract Awards Index ascended to 415.89 points as the sector witnesses a surge in contract values, which has elevated the CAI above the 200-point mark for 18 consecutive months.
- The oil & gas sector registered the highest value of awarded contracts with approximately SAR51.2 billion ($13.7 billion). The real estate sector climbed to the second spot as the value of awarded contracts reached approximately SAR24.4 billion ($6.5 billion). The water sector placed the third highest value with approximately SAR24 billion ($6.4 billion) worth of awards.
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