Highlights from the Q2 2024 report include:
- The total value of awarded contracts remained strong during the second quarter, reaching SAR66 billion ($17.6 billion), marking an 11 percent increase compared to last year. The total value reached SAR185 billion ($49.3 billion) through the first half of 2024.
- The USSBC Contract Awards Index remained elevated at 371.86 points as the sector’s performance continues to be buoyed by higher value awarded contracts.
- The oil & gas sector remained as the highest value of awarded contracts with approximately SAR27.3 billion ($7.3 billion). The real estate sector kept its position in second, as the value of awarded contracts reached approximately SAR16.6 billion ($4.4 billion). The water sector placed the third highest value with approximately SAR7.4 billion ($2 billion) worth of awards.
