Highlights from the Q4 2022 report include:
- The value of awarded contracts catapulted to SAR71.5 billion ($19.1 billion) during the fourth quarter, marking a 2 percent increase YoY. The total value reached approximately SAR192.4 billion ($51.3 billion) in 2022, a 35 percent jump compared to 2021.
- The USSBC Contract Awards Index surged to 241.71 points, growing by 52.92 points during the quarter. The CAI grew by 16 percent YoY to finish 2022.
- The real estate sector witnessed a sizeable increase to reach the highest value of awarded contracts worth approximately SAR38.9 billion ($10.4 billion), repeating last quarter’s rank. The power sector rebounded to reach the second spot as the value of awarded contracts rose to approximately SAR16.4 billion ($4.4 billion). The transportation sector fell to the third position with approximately SAR6 billion ($1.6 billion) worth of awards despite surpassing last quarter’s total.