Highlights from the Q3 2023 report include:
- The total value of awarded contracts catapulted during the third quarter, reaching SAR88 billion ($23.5 billion), marking a 249 percent jump compared to last year. The total value reached SAR214 billion ($57 billion) through the first nine months of 2023.
- The USSBC Contract Awards Index surpassed the 300-point mark and reached 357.99 points, the highest in ten years dating back to Q3’13.
- The real estate sector accounted for the largest value of awarded contracts and reached approximately SAR36.3 billion ($9.7 billion). The oil & gas sector rebounded to reach the second highest value of awarded contracts with approximately SAR25.5 billion ($6.8 billion). The transportation sector maintained a strong pace to reach the third highest value with approximately SAR15.3 billion ($4.1 billion) worth of awards.
