Contracts worth $17.2bn rubberstamped in Saudi in Q2

US-Saudi Arabian Business Council's Contract Awards Index underlines kingdom’s growing economic activity.

Share
For the second consecutive quarter, the Eastern Province and Makkah regions contributed the largest share of awarded contracts.
PIXABAY
For the second consecutive quarter, the Eastern Province and Makkah regions contributed the largest share of awarded contracts.

For the latest MEP news from the UAE, Gulf, and around the world, follow us on Twitter and LinkedIn.

Statistics compiled by the US-Saudi Arabian Business Council show a 32% spike in contract values awarded in the kingdom for Q2 2019.

Related

Contracts to the value of $17.2billion were rubberstamped between April and June, according to the annual Contract Awards Index, underlining the country’s increased economic activity and attractiveness for foreign investment.

READ: Saudi Arabia places ban on use of foreign consultancy firms

For the second consecutive quarter, the Eastern Province and Makkah regions contributed the largest share of awarded contracts, constituting 77% and 13% of all agreements respectively.

The oil and gas segment led all sectors with contract awards worth $12.7bn, followed by real estate and military with contracts, respectively worth $1.4bn and $835m.

Most Popular

Sign up for Newsletter

Digital Edition

Read The Edition Here